Medtronic Appoints Jorie Soskin, Peking University Alumnus, as New VP and GM for TAVR and Congenital Heart Business

Sep 21, 2024 17:51 CST Updated 17:51

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Recently, there have been many changes in Medtronic's senior management. Last week, Medtronic officially appointed Dr. James Porter, a urology expert, as the Chief Medical Officer (CMO) for robotics and digital technology in its surgical business.This week, Medtronic appointed Jorie Soskin as the new Vice President and General Manager of its TAVR and Congenital Heart Disease business. According to rocketResearch, Jorie Soskin studied at Peking University.

Over 15 years of experience at Medtronic

Soskin's LinkedIn page now lists his position as Vice President and General Manager of Structural Heart at this medical technology giant.

Jorie Soskin currently resides in Minneapolis, Minnesota, USA, and holds a Bachelor of Arts in Asian Studies from Boston College.And he also studied international business at Peking University. Soskin joined the company in 2009 through Medtronic's acquisition of CoreValve. Currently, Medtronic's TAVR (Transcatheter Aortic Valve Replacement) products still use the CoreValve name.Since that acquisition, he has over 15 years of experience in the cardiovascular field at Medtronic. He has held various positions such as Vice President and General Manager of Medtronic’s Procedure Innovations division, Senior Director and General Manager of Infection Control, and Director of Tachy Strategy.

Medtronic Senior Vice President and President of Structural Heart and Aortic Nina Goodheart shared the news of Soskin's appointment on LinkedIn. "Jorie Soskin has joined us as the Vice President and General Manager of our TAVR and Congenital business," Goodheart said. "His commitment to improving patient outcomes and raising the standard of care is a valuable addition to our team, and he has already begun meeting with our Medtronic team and physician partners around the world."

Goodheart stated that Jorie has brought "a drive for innovation and a strong track record of improving patient outcomes and access by focusing on executing strategic business opportunities. I look forward to working with Jorie as he propels our team towards excellence in innovation."

Multiple Senior Executives Have Resigned Since 2024

It is worth noting that,From 2024 to present, multiple senior executives of Medtronic have announced their departures, involving various business units.

CFO Resignation

June 2024,Medtronic announced that Karen Parkhill will step down from her position as Executive Vice President and Chief Financial Officer of the company.Transitioned to become the Chief Financial Officer of HP.

According to reports, 2In 2023, Karen Parkhill ranked second in Medtronic's executive compensation.Second only to Medtronic Chairman and Chief Executive Officer Geoff Martha,Received a total compensation of $6.1 million (approximately RMB 44.62 million), representing a decrease of nearly 19% compared to the previous year.His compensation for the 2023 fiscal year included a base salary of $911,000 and stock and option awards totaling $5.1 million.

Karen Parkhill graduated from Southern Methodist University in the United States and later obtained a Master's degree in Accounting and Finance from the University of Chicago Booth School of Business. She joined Medtronic in June 2016 as Vice Chairman and Chief Financial Officer, and has served in this capacity for a full eight years.

Executive Vice President and Global Regional President Retires

Similarly, in June,Medtronic Announces Rob ten Hoedt, Executive Vice President and President of Global Regions, to Retire on June 28。

According to reports,Medtronic named ten Hoedt as one of the highest-paid executives in the company last year, with total compensation of $5 million for the 2023 fiscal year.Meanwhile, according to the documents from the U.S. Securities and Exchange Commission (SEC),ten Hoedt is also one of the largest individual shareholders of Medtronic.As of August 2023, he held approximately 540,000 shares.

According to reports, as the President of the Global Region,ten Hoedt is fully responsible for Medtronic's product development and markets in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region.This includes the ongoing development of the Hugo surgical robot system, a project that began after Medtronic acquired Covidien in 2015 for a substantial $43 billion. Hugo received the CE mark in the European Union in 2021.

Global Vice President of Health Economics Departs

May 2024,Bonnie Handke, a 25-year "veteran" of Medtronic, Joins CVRx. Previously, she worked at MedtronicVice President of Global Health EconomicsResponsible for policy and reimbursement related to coronary and renal sympathetic denervation, peripheral vascular health, structural heart disease, aortic and cardiac surgery.

Multiple Senior Executives Resign in March

In addition, MedtronicChristopher Cleary, Senior Vice President of Corporate Development, after serving for 10 years, who left in March this year; also in March, the companyGastrointestinal Business President Gio Di Napoli Announces Departure; Another business unit leader of Medtronic,Ariel Mactavish, President of the Respiratory Interventions division, also announced her departure in March.

Previously, Medtronic announced plans to exit the ventilator market in February, at the same time,Medtronic Executive Vice President and President of the Medical Surgical Portfolio, Bob White, has also left the company.

In recent years, the rapid development of technology in the medical device industry has posed challenges not only from traditional competitors for Medtronic, the industry leader, but also from disruptive innovations and market impacts brought by emerging technology companies.

As a leading company in the global medical device field, the sweeping reforms by Medtronic are driven by an urgent need for internal transformation. They also reflect profound considerations in response to industry challenges, advancing technological innovation, and expanding global presence.

It can be foreseen that these adjustments and strategic layouts by Medtronic will gradually reveal their far-reaching strategic significance in the coming years, driving the company towards broader globalization and continuing to lead the innovation wave in global medical technology. In this regard, DeviceHome will continue to follow closely.

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