Covidien (NYSE:COV) announced last week that it named Bill Burke, CFO for the Covidien Europe, to lead the merger with Medtronic (NYSE:MDT) ahead of the $43 billion acquisition.
Burke will work with Medtronic’s Geoff Martha to navigate the lengthy integration process, reporting directly back to Covidien chairman, president & CEO Jose Almeida.
"Together, Bill and Geoff will be focused on planning for the creation of a combined organization that capitalizes on strategic opportunities and ensures a smooth and timely integration of both companies after the closing," according to a July 3 memo from Almeida. "Bill will be transitioning from his current role as soon as possible."
Late last month Medtronic promoted Martha, senior vice president for strategy & business development, to the role of chief integration officer, tasking him with "the integration structure, team, and processes to plan for a successful integration of the Medtronic and Covidien organizations across businesses, regions, and functions, and position the combined company to realize the exciting strategic opportunities we have before us."
Covidien did not mention whether Burke will establish a team to help manage the integration process, but Martha is slated to form a coalition of Medtronic and Covidien employees to help move the process forward.