Medtronic CEO and Executives Receive Significant Pay Raises Amid Strong Financial Performance

According to the latest disclosed executive of Medtronic, the world's largest medical device companySalary Information, theJeff, Chairman and CEO of the Company· Geoff Martha's compensation for the 2025 fiscal year will achieve double-digit growth.

Medtronic also disclosed compensation packages for other executives (including the approximate severance pay for the former senior vice president) and the average employee salary, while also reducing the global workforce of the device manufacturer.

In the medical technology industry, recruiting and retaining top talent (including executives and engineering talent) is crucial, but employee compensation is confidential in most cases.Medical Design & Outsourcing Will track and analyzeMain Equipment Developers and Manufacturers DisclosedSalary Data.

Medtronic AnnouncesTotal revenue for the fiscal year 2025 (ending April 25, 2025) was $33.5 billion.An increase of 3.6% over the previous year. This is sufficient to position Medtronic for success in 2025.Medical Design & Outsourcing Ranked first in the Top 100 Medical Technology Companies (by revenue), despite Johnson & Johnson Medical TechnologiesExpected to surpass Medtronic after the spin-off of Medtronic's diabetes business。

Medtronic Executive Compensation

Medtronic Chairman and Chief Executive Officer Jeff· Geoff Martha received a total compensation of $23.3 million in the 2025 fiscal year.This includes a $1.4 million salary, $14.7 million in stock awards, $4.8 million in option awards, and a $1.9 million cash bonus under the Medtronic Incentive Plan (MIP).

Martha also receivedOther compensation amounted to $581,443, including $287,250 for personal use of the corporate aircraft, $77,498 for personal and family security services, and a $40,000 business allowance.

Martha's total compensation is higher than the previous year's$20.1 million increased by 16%.

His compensation is among the highest in the medical technology field, slightly above Stryker.(Stryker) andBoston ScientificThe CEO compensation of Boston Scientific,But lower thanSolventumAndCardinal HealthRecently disclosed data.

The second highest-paid executive at Medtronic is Sean, the former Executive Vice President and President of the Cardiovascular Division.·Sean Salmon, total compensation for 2025 is $9.1 million.This includes a salary of $884,654, stock awards of $5.3 million, option awards of $1.7 million, MIP cash bonuses of $823,050, and changes in pension value and non-qualified deferred compensation earnings of $382,886.

Salmon also received otherA compensation of $43,719, including $24,000 in business allowances, cash rewards, and personal security services.

Salmon's total compensation was higher than the previous year's$6.6 million increased by 40%.

Medtronic also stated that SalmonWill beLost executive position starting May 21, but will still serve as a non-executive employee untilSeptember 2, and will receive severance pay according to the company's policy on unjustified dismissal.

Although Medtronic did not disclose the specific amount of Salmon's severance package, the company stated that according to its policy, if Salmon were terminated on the last day of the fiscal year, he would be eligible forA severance package of $3.5 million, which includes two years of medical benefits and reemployment assistance amounting to $63,717.

Brett, Executive Vice President of Medtronic and President of Neuroscience· Brett Wall's total compensation for 2025 is $8.9 million.This includes a salary of $774,519, stock awards of $5.3 million, option awards of $1.7 million, and MIP cash bonuses of $720,750.

Wal also received valueOther compensation of $363,656, including $148,571 in taxes related to relocation expenses, a $24,000 business allowance, and $128,400 for relocation expenses and personal security services.

Wol's total compensation was higher than the previous year's$640 million increased by 40%.

Executive Vice President of Medtronic Corporate OperationsGreg Smith 

Greg, Executive Vice President of Medtronic Corporate Operations· Greg Smith's total compensation for 2025 is $8.8 million.This includes a salary of $894,560, stock awards of $5.3 million, option awards of $1.7 million, and an MIP cash bonus of $832,350.

Smith also received valueOther compensation of $94,784, including a company fixed contribution plan contribution worth $65,384, a business allowance of $24,000, and personal security services.

Smith's total compensation was higher than the previous year's$7.7 million increased by 15%.

Medtronic Executive Vice President and Chief Financial Officer Thierry·Thierry PiétonInTaking office on March 3, 2025,Total compensation for 2025 is $5.6 million.This includes a salary of $138,517, stock awards of $4.6 million, option awards of $600,056, and a MIP cash bonus of $141,975. Piéton also received relocation expenses of $141,274.

Gary, former interim Chief Financial Officer and Senior Vice President of Corporate Finance at Medtronic·Gary Corona resigned on March 28, 2025, and received $3.9 million in 2025.This includes a salary of $466,346, stock awards of $3.2 million, and option awards of $25,002.

Corona also received other compensation worth $214,812, including a $16,962 business allowance, a $187,500 payment during her tenure as interim CFO, and a company-paid fixed contribution plan valued at $10,350.

Listed in the disclosed informationAnother former Medtronic executive is Karen.· Karen Parkhill, who will serve as of August 2, 2024ResignExecutive Vice President and Chief Financial Officer, appointed as HP's Chief Financial Officer. SheThe salary for the 2025 fiscal year is $262,856.Other compensation amounted to $7,823, including personal security services and a business allowance of $6,923.

Medtronic stated in the disclosure document:"Medtronic's executive compensation plan is designed to attract, motivate, and retain top talent; emphasize the alignment of incentive compensation with sustained profit growth; align with shareholder interests by encouraging executive stock ownership and linking a portion of compensation to the value of Medtronic common stock; and discourage inappropriate risk-taking."

Medtronic's Profit Growth for the Year in China27% to $4.7 billion, with diluted earnings per share increasing by 31%.

Medtronic stated in the document that its"Fundamentals... are strong and continuously strengthening as the company accelerates towards a path of higher profit growth. The company has advanced its leading pipeline of medical innovations, enhanced profitability, and delivered on its promised financial performance. It has executed its strategy to lead through innovation-driven growth in markets that can make a difference for patients and physician stakeholders."

Medtronic then continued to state:"The company's growth drivers are making an impact and continuing to strengthen, which is expected to propel the company towards sustained mid-single-digit or higher growth in the future. Significant progress has been made in the launch of new products in the fields of cardiac ablation solutions and neuromodulation, with ongoing advancements in hypertension, robotics, and diabetes."

The median employee compensation at Medtronic will increase from the previous year.$67,769 increased by 1% to $68,770 by 2025.

According to the regulations of the U.S. Securities and Exchange Commission, Medtronic must provide this data and calculate its CEO pay ratio (the comparison between the CEO's total compensation and the median worker's compensation).

In 2025, the pay ratio of Medtronic's CEO rose to 339:1, meaning Martha's compensation was 339 times the average worker's pay.

This gap is larger than Medtronic's previous year's296:1 CEO pay ratio, 230:1 for the fiscal year 2023, and 215:1 for the fiscal year 2022 are all larger.

Medtronic did not describe its median employee by location or job role. Other medtech companies provide more information about their median employee than required by the SEC's compensation disclosure rules, with these median employees typically holding technical roles such as device design or engineering.

Medtronic Sees Slight Decline in Employee Numbers

Medtronic stated that, as ofAs of February 1, 2025, its total number of employees was 100,229, a decrease of less than 1% from 100,716 in the same period last year.

Medtronic has approximately43% of employees are in the United States, down from 44% the previous year.

Medtronic2025 Annual Conference

Medtronic willThe annual meeting will be held in Dublin, Ireland, on October 16.

Investors will vote on Medtronic's board of directors, executive compensation plans, and shareholder proposals. At last year's annual general meeting, shareholders voted with"The form of 'compensation voting rights',"The compensation plan for Medtronic executives was overwhelmingly approved.