New CEO to Take Helm of Medtronic Next AprilNew CEO to Take Helm of Medtronic Next April

A new chief executive officer is slated to take the helm of medical technology and services firm Medtronic in April 2020 as the firm’s current CEO and chairman, Omar Ishrak, prepares to retire at the end of Medtronic’s current fiscal year. A recent company press release announced that Geoff Martha will replace Ishrak as CEO on April 27, 2020. In addition, Martha was also appointed as the firm’s president and a member of its board. 

“This plan and its timing enable Geoff and I to partner on achieving Medtronic’s key financial performance goals as well as delivering on our critical pipeline milestones, including several important product launches,” said Ishrak in a statement. “Leading Medtronic as CEO is an honor and a privilege, and I know that Geoff is the right leader to take Medtronic to the next level of its growth and evolution.”

Martha most recently served as executive vice president (EVP) of Medtronic’s Restorative Therapies Group (RTG). The current president of the firm’s Brain Therapies division, Brett Wall, was promoted to EVP and Group President of RTG, effective this November 1. He joined the company in 2011. During his tenure as EVP of RTG, Martha lead four divisions – Brain Therapies, Pain Therapies, Specialty Therapies, and Spine – and was in charge of over 14,000 workers.

He also served as head of Medtronic Corporate Strategy and Business Development, leading the firm’s purchase of Covidien in 2014, and Chief Integration Officer. Before his tenure with Medtronic, Martha worked for 19 years in a range of business development, strategic marketing, and sales management positions at GE Healthcare and GE Capital. 

“Since coming to Medtronic, I have been deeply motivated and inspired by the company’s mission, it’s people, and its unique ability to create and commercialize technology that directly improves and saves people’s lives,” said Martha in the release. “I thank Omar and the entire board for their vote of confidence in selecting me as president and as the company’s next CEO.”

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