
Piéton takes over the role vacated by Karen Parkhill, who departed in June 2024 for tech giant HP after eight years as Medtronic’s CFO. Gary Corona spent the last seven months as interim CFO and will continue in this role until Piéton joins. After March 3, Corona moves to the position of SVP, corporate finance, remaining on the company’s executive committee.
In this role, Piéton reports to CEO Geoff Martha and joins the Medtronic executive committee. He joins the medtech giant from Renault Group, where he held the post of CFO since March 2022.
“Thierry is a strategic, creative, operationally focused, experienced CFO with a proven track record of delivering innovation-driven growth, margin improvement, and earnings power through strong financial leadership, which is directly aligned with our financial objectives,” said Martha. “We are confident he is the right choice at this important time for Medtronic and can’t wait to benefit from his expertise and leadership.”
More about the new Medtronic CFO
According to a news release, Piéton led Renault to its highest ever operating margins while improving free cash flow. The company also executed portfolio management, including tuck-in acquisitions, divestitures and funding development during his tenure.
Piéton has experience in healthcare and other highly regulated, operationally focused manufacturing spaces. His track record includes stints at Nissan Motor Co., GE, GE HealthCare and PricewaterhouseCoopers.
As CFO, his responsibilities include leading the Medtronic global finance organization and key supporting functions. That includes treasury, controller, tax, internal audit, investor relations, corporate strategy and business development.
“I also want to recognize Gary Corona, who has served as interim CFO,” Martha said. “Gary helped us deliver revenue growth and EPS that exceeded expectations in our first and second quarters and has provided strong leadership of our Finance function over the last six months. He will help ensure a smooth and successful transition, and I look forward to continuing to work with him in his new role leading several key corporate finance functions.”
Parkhill’s departure was one of the biggest medtech personnel moves of 2024 — read about more HERE.