Covidien (NYSE:COV) said Dr. Martin Madaus will step down from its board of directors to take an open CEO position with a privately-owned company.
Madaus was North America president and CEO for Roche (PINK:RHHBY) and chairman & CEO of Millipore before it was bought out in 2010 by Merck KGaA.
Madaus joined the Covidien board in late 2011, serving on its compliance board, according to a regulatory filing. He also serves on the board of Pharmaceutical Product Development Inc. and as chairman of development-stage diagnostics company Quanterix Corp. There was no indication as to which company Madaus was joining, except that it was being acquired by a private equity firm, according to the filing.
In other personnel news, Mansfield, Mass.-based Covidien is in the hunt for a new CFO, as longtime finance chief Charles Dockendorff plans to retire at the end of the year.
