Medtronic Appoints Chad Spooner as CFO of MiniMed to Accelerate IPO Readiness

Jul 10, 2025 18:13 CST Updated 18:13

Medtronic

Medical Device Manufacturer

July 8, 2025MedtronicAnnounce,Chad Spooner Will Assume the Role of Chief Financial Officer (CFO) of Medtronic's Diabetes Business Unit MiniMed on July 14, 2025This appointment comes as Medtronic plans to spin off its diabetes business into a separate publicly listed company, aiming to establish a financial and strategic foundation for the independent operation and future development of this business segment.

In May 2025, Medtronic announced plans to spin off its diabetes business into a separate, publicly listed company, expected inWithin 18 monthsComplete the separation. MiniMed will inherit Medtronic's tradition of innovation in diabetes management.Focused on providing a complete insulin management system, including products such as automatic insulin pumps, continuous glucose monitors (CGM), and smart insulin pens.。

# About Chad Spooner

Chad SpoonerWith over 25 years of financial leadership experience spanning the healthcare, consumer goods, and industrial sectors, possessing extensive expertise in corporate transformation, financial strategy, and capital market operations. The following are key career experiences:

CFO of BIC Group: Before joining Medtronic, Spooner worked at BIC, a global consumer products company.Chief Financial Officer, responsible for global financial strategy, investor relations, and corporate mergers and acquisitions.
Tenex Capital Management: He co-founded the private equity firm Tenex Capital Management,Managing investments exceeding 1 billion US dollars, and serve asSenior Operations Finance Position, leading the financial optimization and value enhancement of multiple portfolio companies.
Slingshot Health & Raffaela Apparel Group CFO: Previously worked at the medical technology startup Slingshot Health and the apparel retail company Raffaela Apparel GroupServe as CFO, accumulating rich experience in financial management and growth transformation for small and medium-sized enterprises.
General Electric (GE): Began his career at GE, where he held management positions for a decade, working in roles such as corporate auditing and financial planning, and gradually advancing to senior financial management positions.

Executive Evaluation

MiniMed Future CEO Que Dallara"Chad's deep financial expertise, outstanding leadership, and successful experience in driving corporate transformation will play a key role as we move towards becoming an independent company. His joining reflects our commitment to building a strong financial system and achieving long-term growth."

Spooner himself also expressed his anticipation to collaborate with Que Dallara and the leadership team.Build an agile and efficient financial organization to support innovation and drive sustainable growth., and create long-term value for all stakeholders.

# Chad Spooner Joins MiniMed

Chad Spooner Appointed as Chief Financial Officer of MiniMed, a Key Personnel Move by Medtronic in Advancing the Independent IPO Process of Its Diabetes Business.

MiniMed Program ThroughIPO and Subsequent Spin-off as an Independent Public Company，Spooner's extensive financial experience will help build an efficient and agile financial organization, ensuring that the company has a solid financial foundation and profitability after independent operation. His joining is conducive toOptimize Capital Structure, Enhance Financial Transparency, and prepare for future capital market integration.

MiniMed's Business ModelTransitioning from traditional B2B to direct-to-consumer (B2C), especially in the promotion of products such as insulin pumps and continuous glucose monitoring (CGM) systems., consumer experience and market responsiveness are crucial. Spooner's experience as CFO at consumer goods companies like BIC has equipped him with practical expertise in consumer market operations and brand building, which helps MiniMed better understand end-user needs and improve product market penetration.

In addition, MiniMed is at a critical stage of technological innovation, including the development in collaboration with Abbott.System Based on FreeStyle Libre CGM、MiniMed 780G Automated Insulin Delivery System, andSimplera Sync CGMThe advancement of FDA approval. Spooner's financial leadership will provide funding and resource allocation support for these high-investment, high-potential projects, accelerating their journey from research and development to market.

FreeStyle Libre CGM

Medtronic's fiscal year 2025 financial report shows that the company's annual revenueUp to USD 33.537 billion，Net profit of $4.662 billion, the dividend was increased to $0.71 per share, reflecting strong overall financial performance. Against this backdrop, Spooner's appointment is seen as a move to further consolidate investor confidence, helping to enhance market expectations regarding MiniMed’s ability to operate independently post-spinoff. Previously, Medtronic's stock price reacted positively following the announcement of the spinoff.Has increased by nearly 10%，This personnel adjustment is expected to continue to boost market sentiment.

# Conclusion

Chad Spooner's appointment is not only a crucial step in the spin-off process of MiniMed but also a key strategic move by Medtronic in transforming its diabetes business, advancing its consumer-focused initiatives, and managing capital market operations. His addition is expected to bring stronger financial execution and market adaptability to MiniMed.

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