Medtronic Announces Two Executive Committee Changes
December 16, 2021 at 09:00 am EST
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Medtronic plc made two announcements regarding its executive committee. Ivan Fong has been named as general counsel and secretary, succeeding Brad Lerman, who will retire at the end of January. In addition, the company also announced that Rick Kuntz, M.D., M.Sc., chief medical officer and chief scientific officer, has announced his intention to retire in April, at the end of the Medtronic fiscal year. Both Lerman and Kuntz will retire in line with the company's mandatory executive officer retirement age of 65 years. Ivan Fong has been named executive vice president, general counsel and secretary for Medtronic, succeeding Brad Lerman, who is retiring at the end of January. Fong joins Medtronic from 3M, where he served as chief legal and policy officer and secretary. He also previously served as general counsel for the U.S. Department of Homeland Security, and as chief legal officer and secretary for Cardinal Health Inc. Fong will join the company on February 1, 2022. Dr. Kuntz has been a valued member of the Medtronic executive committee and company officer since he first joined Medtronic in October 2005, as Senior Vice President and President of Medtronic Neuromodulation. In 2009, he assumed the role of Chief Clinical and Regulatory Officer, where he led the transformation of the clinical council to create meaningful business impacts and established a track record of excellence. Kuntz plans to continue to serve the greater good by making impacts in the science and medical fields and enjoying time with his wife and family.
Medtronic plc is one of the world leaders in designing, manufacturing and marketing of medical equipment. Net sales break down by sector of activity as follows:
- general and minimally invasive surgery (28.8%): surgical equipment, intra-operative monitoring systems, ventilation systems, etc.;
- cardiac rhythm management (18.6%): implantable cardiac pacemakers, implantable defibrillators and automatic external defibrillators, cardiac ablation probes, etc.;
- vascular diseases and cardiac surgery (17.4%): coronary stents, endoprostheses for aortal pathologies, distal protection systems, catheters, heart valve prostheses, auto-transfusion equipment, cardiac ablation devices, etc.;
- spinal disorders (14.1%): spinal prostheses, disc prostheses, cerebral stimulation systems, bone graft technologies and mini-invasive spinal surgery, etc. The group also develops medical imagery-guided surgical navigation systems activity;
- neurovascular, ear, nose and throat (ENT) and pelvic diseases (8.2%);
- diabetes management (7.4%): internal and external glycemia monitoring systems and insulin pumps;
- neurological disorders (5.5%): neurostimulation and pumped medication administration products, diagnostic tools, etc.
Net sales are distributed geographically as follows: Ireland (0.3%), the United States (50.9%) and other (48.8%).
MEDTRONIC PLC 
