• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Medtronic CEO: Search for Bill Hawkins’ successor delayed

Medtronic CEO: Search for Bill Hawkins’ successor delayed

May 3, 2011 By MedCity News

Medtronic

Medtronic Inc. (NYSE:MDT) CEO Bill Hawkins sent a note to the company’s employees yesterday saying that he will be prolonging his stay as the medical device giant’s chief executive.

The search for Hawkins’ successor is taking longer than the company initially expected, according to the note.

Medtronic in December announced plans for Hawkins’ retirement, and said he would step down by the close of the company’s fiscal year in April, but a new leader for the Fridley, Minn.-based company won’t be selected until some time in early fiscal 2012, according to Hawkins’ message to employees.

MedCity News logo

While leading the Feb. 22 earnings call with analysts, Hawkins said that it would be his last call as CEO. A Medtronic spokesman did not say whether Hawkins would lead the earnings call in late May and cited a policy of not disclosing speakers in advance.

Previously an analyst speculated that current board member James Lenehan would be the new head of Medtronic. Given the plans for Hawkins’ slightly prolonged tenure, however, that appears less likely.

The pressures Medtronic faces in its upcoming fiscal year are much different than when Hawkins was appointed in 2007.

Since August 2007, the month Hawkins became CEO, Medtronic shares have fallen 30 percent to $37 from $53, though that period also includes the worst economic recession in American history since the Great Depression.

But Medtronic also was hampered by operational missteps, including the Sprint Fidelis debacle and continued problems in its spine business. Medtronic downgraded its 2011 profit forecast twice last year.

Hawkins, and his predecessors Art Collins and William George, were all Medtronic executives before being tapped for CEO and the company said in December that it would pursue a candidate outside of the company — a strong indication it wants new blood to recharge its businesses.

Filed Under: News Well Tagged With: Personnel Moves

More recent news

  • Cognixion, Blackrock Neurotech ink distro deal for BCI tech
  • AdvaMed calls for medtech tariff exemptions at Senate hearing
  • GE HealthCare, Raydiant Oximetry partner on fetal oxygen saturation tech
  • Terumo Neuro launches new stroke catheter in the U.S.
  • EnVVeno has first-in-human heart valve data, expects FDA decision this year

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy