On January 21, 2025, Medtronic, a global medical device giant, announcedAppointment of Thierry Piéton as the Company's New Chief Financial Officer (CFO), which will take effect on March 3, 2025. Thierry Piéton will report to Geoff Martha, the company's CEO.In 2024, several senior executives left Medtronic, including Executive Vice President and Chief Financial Officer (CFO) Karen Parkhill, who accepted the position of Chief Financial Officer at global technology giant HP.Before joining Medtronic, Thierry Piéton had served as the Chief Financial Officer of Renault Group since March 2022.According to the press release, during Piéton's tenure at the Renault Group, he led the company to achieveThe highest operating profit margin in history, with a significant improvement in free cash flow.In addition, he also led the management of the company's investment portfolio, including key initiatives such as strategic acquisitions, asset divestitures, and capital development.
Piéton has accumulated extensive experience in healthcare and other highly regulated, operation-focused manufacturing fields. He has also held key positions at renowned companies such as Nissan Motor Co., GE, GE HealthCare, and PricewaterhouseCoopers.
Moreover, during the period between Karen Parkhill's departure and Piéton's assumption of the role, Gary Corona served as the interim Chief Financial Officer. Medtronic CEO Geoff Martha stated, "We thank Gary Corona for playing a key role during his time as interim CFO, helping the company achieve better-than-expected revenue growth and earnings per share in the first and second quarters, and providing strong leadership to our finance organization over the past six months."# Multiple Executives LeaveIn May 2024, Bonnie Handke, a 25-year veteran of Medtronic, joined CVRx. At Medtronic, she served as the Vice President of Global Health Economics, overseeing policy and reimbursement for coronary and renal denervation, peripheral vascular health, structural heart disease, aortic, and cardiac surgery.In June 2024, Karen Parkhill resigned from her position as Executive Vice President and Chief Financial Officer (CFO) to take up the role of CFO at global technology giant HP.In June 2024, Medtronic confirmed the upcoming retirement of Rob ten Hoedt, its Executive Vice President and President of Global Regions, marking a significant leadership transition for the company.On August 29, 2024, Dr. Sam Ajizian, Chief Medical Officer of Medtronic's Acute Care and Monitoring (ACM), announced that he will leave the company.In March 2024, Gio Di Napoli, President of Medtronic's Gastrointestinal Business, and Ariel Mactavish, President of the Respiratory Interventions Division, announced their resignations. Christopher Cleary, former Senior Vice President of Corporate Development at Medtronic, also departed in March 2024 after a decade of service.Medtronic Executive Vice President and President of the Medical Surgical Portfolio, Bob White, has also left the company. Due to Medtronic's termination of Bob White's employment without cause, the company paid him over $3 million in severance compensation.# Revealing the Salaries of Senior Executives
Medtronic Chairman and CEO Received Total Compensation of $20.1 Million in FY 2024, a 30% Increase from $15.4 Million in FY 2023, Including a $1.4 Million Salary, $12 Million in Stock Awards, $4.5 Million in Option Awards, $1.9 Million in MIP Cash Bonus, and $305,400 in Other Allowances.Former Medtronic Executive Vice President and President of the Medical Surgical Division, who has left the company, was paid over $3 million in severance pay by Medtronic. This includes nearly $1.6 million for two years' salary, $1.6 million for two years' target bonus, and $61,259 for health benefits.After leaving, Bob White will receive a total of more than $9 million, including $790,000 in salary, $3.2 million in stock awards, $1.2 million in option awards, and $790,000 in MIP cash bonuses, in addition to his severance pay.Former Medtronic Executive Vice President and Chief Financial Officer, who has left the company, received a total compensation of approximately $8 million in the 2024 fiscal year, a 30% increase from $6.1 million in the 2023 fiscal year. This includes a salary of $911,000, stock awards of $4.4 million, option awards of $1.7 million, a MIP cash bonus of $943,000, and other expenses of $66,187.Medtronic Executive Vice President of Global Operations and Supply Chain received a total compensation of approximately $7.7 million in the 2024 fiscal year, including a salary of $872,100, stock awards of $4.7 million, option awards of $1.2 million, MIP cash bonus of $820,500, and other compensation of $65,018.Medtronic Executive Vice President and Cardiovascular President Received Total Compensation of Approximately $6.6 Million in Fiscal Year 2024, Including a Salary of $867,000, Stock Awards of $3.4 Million, Option Awards of $1.3 Million, MIP Cash Bonus of $775,000, Pension Benefits of $185,300, etc.
# List of Award-Winning Medical Device Companies
Global Surgical Robotics Industry Awards 2024
Global Medical Technology Innovation Award 2024
Global MedTech Newcomer Award 2024
Global Innovative Medical Device Award 2024
# Overseas Large Medical Device Manufacturers
#EnChina's Major Medical Device ManufacturersMindray Medical｜Lepu Medical|MicroPort Medical｜Weigao Group|United Imaging Healthcare
