March Jeff (Geoff Martha)

March Jeff (Geoff Martha)

Biography

2019: Appointment of Medtronic as the CEO

On August 28, 2019 Medtronic announced change of the CEO. Instead of Omar Ishrac who directed the company about 8 years Jeff of Mart is appointed.

The last officially will become the head of the American producer on April 27, 2020. It will pass to this position from a post of the executive vice president of division of Restorative Therapies Group which sells robots surgeons and spinal implants.

Investors will give strong support to Jeff on the CEO's post — the analyst of Evercore ISI Vijay Kumar considers.

According to him, suitable time for replacement of the leadership of Medtronic came.

As notes Reuters, Jeff of Mart could improve indicators of division in many respects thanks to acquisition of Mazor Robotics company in 2016 which provided to Medtronic access to a robotic system for surgeries on Mazor X backbone. In 2019 financial year revenue of Restorative Therapies Group exceeded $8 billion that became the third indicator among division of Medtronic.

Against the background of such results as the analyst of Wells Fargo Larry Biegelsen considers, Jeff Marta's appointment to a post of the head could become surprise for some investors, however it will hardly lead to strategy change in the near future.

In March, 2019 Jeff of Mart will also become a president (a newly created position in Medtronic) and the board member.

Omar Ishrac will continue work as the chairman of the board of directors and after an exit from a post of the CEO will hold a new position of the executive chairman of Medtronic.

Brett Wall who joined Medtronic from Covidien will release Marta from a duty of the executive vice president of division of Restorative Therapies Group.^[1]

Notes