On January 21, 2025, Medtronic announced the appointment of Thierry Piéton as the new Chief Financial Officer (CFO), effective March 3.

Medtronic's New Chief Financial Officer Thierry Piéton

As the Chief Financial Officer, his responsibilities includeLead Medtronic's Global Finance Organization and Key Support Functions, covering finance, financial management, taxation, internal audit, investor relations, corporate strategy, and business development.

Piéton has taken over the position from Karen Parkhill, who left Medtronic in June 2024 after serving as the company's CFO for eight years to join tech giant HP.Parkhill's departure is one of the biggest personnel changes in the medical technology field in 2024.

After assuming this position, Piéton will report to CEO Geoff Martha and join the Medtronic Executive Committee.

Review of Personal Resume, PiétonJoining this medical technology giant from the Renault Group, he has served as the Chief Financial Officer of the Renault Group since March 2022.

According to the press release, Piye Dun led Renault.Achieved the highest operating profit margin in history while improving free cash flow.During his tenure, the company also implemented portfolio management, including complementary acquisitions, asset divestitures, and capital development.

Piéton has extensive experience in healthcare and other highly regulated, operation-focused manufacturing fields.He has worked at Nissan Motor Company, General Electric Company, GE Healthcare, and PricewaterhouseCoopers.

Gary Corona has served as the interim Chief Financial Officer over the past seven months and will continue in that role until Piéton joins. After March 3 this year, Corona will transition to the position of Senior Vice President of Finance and remain a member of the company’s Executive Committee.

"I would also like to thank Gary Corona for serving as interim CFO," Martha said. "Gary helped us achieve better-than-expected revenue growth and earnings per share in the first and second quarters, and has provided strong leadership to our finance organization over the past six months. He will help ensure a smooth and successful transition, and I look forward to continuing to work with him in his new role leading several key corporate finance functions."

"Piéton is a strategic, innovative, operation-focused, and experienced CFO who has driven innovation-led growth, margin improvement, and profitability through strong financial leadership, all of which are directly aligned with our financial goals," Martha stated.

"We believe that he is the right choice for Medtronic at this important moment, and we can't wait to benefit from his expertise and leadership."