Medtronic Inc. (NYSE:MDT) tapped GE Healthcare’s former chief, Omar Ishrak, to replace chairman and CEO William Hawkins, effective June 13.
Ishrak, a 16-year veteran of GE’s (NYSE:GE) $12 billion health care business, was also a senior vice president and a member of the conglomerate’s executive council.
The decision caps an extended search for a replacement for Hawkins, who’d planned to retire by the end of April. He recently agreed to postpone his departure for an indefinite period while Medtronic kept up the search.
"I am honored and excited to have the opportunity to lead Medtronic — a great company with a renowned, mission‐based heritage of saving and improving lives," Ishrak said in prepared remarks. "I have admired Medtronic for many years and believe the company’s 60‐year history of innovation, unparalleled global footprint and unmatched capabilities present enormous opportunities to improve the health of millions of people worldwide. I look forward to working with the Medtronic team to continue to advance the company as a global healthcare leader."
Before signing on with GE Healthcare in 1995, Ishrak put in more than13 years in senior technology development and business management roles at Philips Ultrasound, Diasonics Inc. and Elbit Ultrasound Group.