Barker, who will also be appointed to the board as an executive director, joins the firm from pharmaceuticals company Alvogen, where he is currently chief financial officer.
Prior to Alvogen, Graham worked for AstraZeneca for 20 years, most recently as vice president, finance, international from 2013 to 2015 and previously as vice president, global financial services and vice president finance and chief financial officer, North America.
Olivier Bohuon, chief executive at Smith & Nephew
I have no doubt that he will successfully ensure effective financial stewardship for Smith & Nephew
He is an ICAEW member and qualified as a chartered accountant and chartered tax advisor with Arthur Andersen.
Barker said it took “a compelling opportunity” to tempt him away from Alvogen.
He added, “I could not ignore the potential of this role and the business at Smith & Nephew.
"I look forward to joining the board and working with Olivier and his team to deliver further success in the business, as well as ensuring that the finance function adds ever more value, as Smith & Nephew continues its transformation."
Olivier Bohuon, chief executive at Smith & Nephew, added, "Graham's blue-chip experience, deep sector knowledge and extensive exposure to established and emerging markets set him apart as the ideal next CFO for Smith & Nephew.
"He has a strong track record of delivering operational excellence and has relevant experience across major finance roles and geographic markets, leading large teams responsible for significant budgets.
"With his hands-on approach, I have no doubt that he will successfully ensure effective financial stewardship for Smith & Nephew."
The firm revealed that Barker will receive a base salary of £510,000 per annum and participate in the annual incentive plan (cash and equity) and the performance share plan.
He will also receive a payment in lieu of pension and standard benefits as set out in the firm’s annual report.
Smith & Nephew plan on putting an updated remuneration policy to shareholders for approval at the 2017 AGM and any future awards will be subject to performance conditions and measures in force at the time of the award.