Medtronic (NYSE:MDT) announced today that it made changes to its executive committee as two senior figures confirmed their retirement.
General Counsel & Secretary Brad Lerman and CMO & CSO Dr. Rick Kuntz both plan to retire in 2022. Lerman will retire at the end of January and Kuntz intends to retire in April upon the conclusion of Medtronic’s fiscal year.
According to a news release, both Lerman and Kutz will retire in line with the company’s mandatory executive officer retirement age of 65 years old.
Ivan Fong will succeed Lerman at the end of January, assuming the official title of EVP, General Counsel & Secretary for Medtronic.
Fong joins Medtronic from 3M, having served as the St. Paul, Minnesota-based company’s Chief Legal & Policy Officer & Secretary. Previous roles include General Counsel for the U.S. Dept. of Homeland Security and Chief Legal Officer & Secretary for Cardinal Health. He will officially join the company on Feb. 1, 2022.
“We are excited to have Ivan join the Medtronic executive committee. He brings extensive experience in both public and private sectors in healthcare and other complex industries,” Medtronic Chairman & CEO Geoff Martha said in the release. “His deep expertise and strong leadership will help guide our strategies and decisions as we drive toward our bold ambition to become the global leader in healthcare technology. Ivan’s decision to join Medtronic reaffirms our position as a leading destination for top talent.”
Kunt’z retirement follows 16 years of service at Medtronic, where he served as a member of its executive committee since he first joined in 2005.
“[Kuntz] transformed our approach to clinical research and data sharing and played a key role in expanding our portfolio of market leading products and therapies,” Martha said. “Additionally, he has driven the voice of medical safety at the company – and Medtronic employees and patients have benefitted greatly from his commitment. We will miss his scientific mind, compassionate heart and sense of humor, and wish him the very best in retirement.”