Medtronic unveils post-merger management structure (MassDevice)
Medtronic CEO Omar Ishrak unveils the plan for the medical device giant's management structure after it closes its mega-merger with Covidien early next year.
Medtronic (NYSE:MDT) CEO Omar Ishrak today unveiled what the medical device giant's management structure will look like after it closes its mega-merger with Covidien (NYSE:COV) early next year.
According to an employee presentation filed with the SEC, the 'new' Medtronic will be comprised of 4 major business segments, headed by Medtronic's 3 existing group presidents, plus Covidien group president Bryan Hanson.
The Covidien group is slated to oversee all of that company's current businesses except 2: Covidien's peripheral vascular business will be merged into Medtronic's aortic and peripheral unit, while Covidien's neurovascular business will function as a unit of Medtronic's restorative therapies group.
Ishrak also said that the combined company's operations will be re-organized into 4 geographical segments: Asia Pacific, the Americas, EMEA (Europe) and Greater China. Covidien's emerging markets head, Bob White, will head up the new company's Asia Pacific region,...
