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Business Americas

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Oct 15, 2014 | Business Americas

After Covidien acquisition: Medtronic announces executive leadership team

by Surgical Tribune

MINNEAPOLIS, USA: Medtronic has announced the group who will be leading the combined organization after the completion of its acquisition of Covidien. The new company will be formed into four major business groups and cover four geographic regions led by a new executive committee. Omar Ishrak will remain as chairman and CEO of the new company, Medtronic.

"The planned acquisition of Covidien will greatly accelerate our joint vision to transform healthcare around the world, improving our ability to address the needs of more patients, in more ways, and in more places than ever before," said Ishrak, Medtronic chairman and CEO.

Three of the business groups of the new company will be headed by the following group leaders: Mike Coyle, executive vice president and president of the Cardiac and Vascular Group; Hooman Hakami, executive vice president and president of the Diabetes Group; and Chris O'Connell, executive vice president and president of the Restorative Therapies Group. Bryan Hanson, currently group president of Covidien will become executive vice president and president of the fourth business group, the newly formed Covidien Group, upon close.


In addition to the new Covidien Group, Covidien's current Peripheral Vascular business, including the Endovascular, Arterial and Chronic Venous Insufficiency businesses, will be integrated into the Cardiac and Vascular Group's Aortic and Peripheral Vascular business after the close of the transaction. Upon close, Covidien's Neurovascular business will be integrated into the Restorative Therapies Group as an independent business unit. More details regarding these organizational changes will be announced in time.

The executive leadership team will also include a new regional structure intended to drive the organizational effectiveness and focus necessary to achieve the company's globalization objectives. Upon the close of the transaction, the new company will be organized into four major regions.

Bob White will become senior vice president and president of Medtronic Asia Pacific, based in Singapore. This new region will comprise Australia, India, Japan, Korea, New Zealand and Southeast Asia. White is currently president of Covidien's Emerging Markets.

Mike Genau will become senior vice president and president of Medtronic's Americas region, which will include Canada, Latin America and the U.S. Genau is currently Medtronic's senior vice president and president of the U.S. region and oversees the company's Integrated Health Services business in the U.S.

Rob ten Hoedt will serve as executive vice president and president of the Europe, Middle East and Africa region. Ten Hoedt has been head of this region, including Canada, for the past five years and most recently led the establishment of Medtronic's Hospital Solutions business in Europe.

Chris Lee, president of Medtronic Greater China, will continue to lead the greater China market as senior vice president and president upon the close of the transaction.

The functions represented on the current Medtronic executive committee will not change and will continue to be headed by the current Medtronic leaders after the transaction closes.
Until the close of the transaction, the respective companies will continue to operate under the current leadership structures and as two separate companies.

"We have an exciting journey ahead as we bring together two great companies," said Ishrak. "In the coming months, the new executive team will work together to assist the integration planning efforts, listening and learning from both companies, to build our combined strengths and craft our future plans as one company."

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