Medtronic Appoints Kweli Thompson as New EVP & President of Neuroscience Portfolio Effective June 1

Recently, according to foreign media reports, Medtronic announced that Brett Wall will step down as Executive Vice President and President of the Neuroscience Portfolio.

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Medtronic stated in its filing with the U.S. Securities and Exchange Commission that Brett Wall will remain as an employee of the company until September 1, 2026, to assist with the transition. He is still entitled to the severance package and related benefits outlined in Medtronic's 2025 Proxy Statement.

It is reported that Brett Wall has an extensive resume and is a seasoned veteran in the medical device field. He served as Senior Vice President and President of the Neurovascular business and Senior Vice President and President of International Business at ev3. Prior to the merger of Micro Therapeutic and ev3, he was the Vice President of Marketing for the Neurovascular and Peripheral Vascular divisions. Additionally, Brett Wall worked as the Marketing Director for Cardiovascular Business in the Asia-Pacific region at Boston Scientific and held the position of Marketing Manager in Japan. Furthermore, he also took on various roles with increasing responsibilities at Bard.

Before joining Medtronic, Brett Wall served as the President of Neurovascular and International Businesses at Covidien. Following the merger of Covidien into Medtronic in 2020, he officially took over the Neuroscience portfolio.

As the veteran steps down, the new successor has been officially confirmed and is about to take office. Medtronic has selected Dr. Kweli Thompson to succeed as Executive Vice President and President of the Neuroscience business, with the appointment taking effect on June 1st. It is reported that Dr. Kweli Thompson currently serves as Senior Vice President and President of the Cardiac Rhythm Management business.

It is understood that Medtronic's neuroscience business portfolio comprises five independently operated units: Neuromodulation, Cranial and Spinal Technologies, Neurovascular, Pelvic Health, and Ear, Nose, and Throat. These units collectively generate over $8 billion in annual revenue and employ approximately 15,000 people worldwide.

Neuroscience Business Portfolio Performs Well in Its 2026Q3 Earnings Report. On February 17, 2026, Medtronic announced its financial results for the third quarter of the 2026 fiscal year (ended January 23, 2026), with quarterly revenue reaching $9 billion, representing an 8.7% year-over-year increase and marking the strongest growth in nearly 10 quarters.

In the structure of each business segment, all four segments of Medtronic experienced growth at varying rates. Among them, the Cardiovascular business remains the core growth driver of Medtronic, generating revenue of $3.457 billion, a year-on-year increase of 13.8%, making it the fastest-growing segment among the four. The key driver of this growth is the cardiac pulsed field ablation (PFA) business, which surged 80% in a single quarter, with a 137% increase in the United States, showing excellent overall performance. The product portfolio includes Pulseselect, Affera radiofrequency ablation system, Sphere-9 catheter, etc., representing one of Medtronic's important growth areas at present.

Moreover, among the other three major business segments: Neuroscience Portfolio ($2.558 billion, increased by 4.1%); Medical Surgical Portfolio ($2.173 billion, increased by 4.9%); Diabetes Business ($796 million, increased by 14.8%), although some businesses experienced a slowdown in growth, overall, they all showed an upward trend.

Notably, in recent years, Medtronic has continued to streamline its business through divestitures. Currently, the diabetes business has been successfully spun off and officially listed under the name "MiniMed" on March 6, with the stock code "MMED," an initial offering price of $20, and $560 million raised in financing. This spin-off is a continuation of Medtronic’s streamlining strategy implemented over the past few years.