Medtronic Reinforces Board, Bolsters Priority on Shareholder Profitibility
Medtronic plc (NYSE: MDT) has announced the appointment of John Groetelaars and Bill Jellison as independent directors, effective immediately. The two new appointees bring extensive experience in the medical technology sector, particularly in leadership roles and mergers and acquisitions (M&A).
John Groetelaars, with more than 30 years of global leadership experience in the medical device sectors, most recently served as interim CEO for Dentsply Sirona. Prior to this, he was President & CEO at Hillrom, leading a healthcare technology company with $3 billion in revenue and over 10,000 employees. Groetelaars will serve on one or both of the committees that have been established by Medtronic.
Bill Jellison, a former medical technology executive and corporate finance expert, served as the Vice President, Chief Financial Officer of Stryker Corporation from 2013 to 2016. He also spent 15 years at Dentsply International in several leadership positions, including CFO. Jellison will also serve on one or both of the committees.
The Operating Committee, chaired by Medtronic's CEO and Chairman, Geoff Martha, will align governance with initiatives to optimize operational performance, deliver margin expansion, and drive sustained earnings acceleration. The Growth Committee, on the other hand, will guide the evaluation and execution of growth-accretive M&A, organic R&D investments, and potential divestitures.
Elliott Investment Management L.P., one of Medtronic's largest investors, believes that the company is entering a new chapter of exceptional value creation defined by accelerating growth, operational improvement, and enhanced strategic clarity. Elliott Partner Marc Steinberg stated that Medtronic's recent innovations in some of the medical technology sector's most attractive markets have positioned the company for an inflection in organic growth.
The company is currently in constructive dialogue with Elliott Investment Management L.P. and is planning an Investor Day in mid-calendar year 2026 to discuss its strategic priorities and financial algorithm. Medtronic's recent appointment of Groetelaars and Jellison is seen as a step towards this new chapter, as both new directors bring valuable expertise to the table.
Groetelaars currently serves as Chairman of the Board of Directors for Zeus Industrial Products and also serves as a Board member for Parexel, a global clinical research organization. Jellison, on the other hand, does not currently hold any other public company board positions, according to the sources.
Medtronic, a global leader in medical technology, services, and solutions, is known for its innovative products and solutions that alleviate pain, restore health, and extend life. With the appointment of Groetelaars and Jellison, the company aims to further strengthen its position in the medical technology industry.
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