Medtronic (NYSE:MDT) said yesterday that Geoff Martha, senior vice president for strategy & business development, is being promoted to chief integration officer ahead of Medtronic’s $43 billion acquisition of Covidien (NYSE:COV).
In a June 24 letter to Medtronic employees, CEO Omar Ishrak said Martha will serve as the primary liaison between the 2 medical device companies.
"Geoff will organize the integration structure, team, and processes to plan for a successful integration of the Medtronic and Covidien organizations across businesses, regions, and functions, and position the combined company to realize the exciting strategic opportunities we have before us. He will soon announce the other members of the integration team, which will be comprised of both Medtronic and Covidien employees," Ishrak wrote. "I want to commend Geoff on the outstanding work he has done since joining the company in 2011. He has done a tremendous job in leading the development of Medtronic’s corporate strategy of therapy innovation, globalization and economic value, and driving alignment and execution across the entire Medtronic organization. In addition to leading Medtronic’s proposed acquisition of Covidien, he advanced our globalization efforts with bold moves such as the Kanghui and Lifetech transactions in China. Additionally, Geoff initiated Medtronic’s exciting U.S. services and solutions strategy with the successful acquisition of Cardiocom."
Martha’s successor will be named before the Covidien acquisition closes, Ishrak wrote.
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