Orthopedics giant Smith & Nephew will be losing its CEO, Christopher O'Donnell, to retirement in June. O'Donnell has been head of the company for 10 years and will step down as director at the end of July. Current COO David Illingworth will replace O'Donnell. Smith & Nephew is also moving forward with a program that it hopes will lower costs, improve efficiency, and drive profits to $150 million by 2010. It's anticipated that more than 100 people could lose their jobs as a result. Despite its growth plan, the company is still considered a medium sized company next to Stryker and Zimmer.