With majority of business units doing well, Neuroscience business got called out by Geoff multiple times on investor call and town halls. Not surprising knowing all the continued issues with supply and illogical heavy investments in large capital. Investors and customers unimpressed by Stealth Axis announcement. Everyone and their cousin has a robot and spine implants. Diabetes first, now Neuroscience is next to being sold off to help Elliot Management get a quick ROI. Thanks leadership and strategy teams.
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Actually if you look at the latest SEC filing it says just this. Spin off in process.
Just like Diabetes never fit, CST doesn’t fit either. It will be spun off sooner or later! Medtronic doesn’t even know how to manage large capital projects.
Neuroscience is led by a pompous, toxic, kiss up kick down leader. All the business are struggling to keep mid single digit growth. For heaven's sake BOD fire his a-s and his boss's a-s, save MDT!
Den of misfits. Prove me wrong.
Geoff will never take an iota of responsibiltiy for any of the decisions he's made leading to these problems, or the people he hand picked doing the same.
Invest 60% into an underperforming robotics divisions and 2% into a business sector that Geoff now patronizes... Familiar noise that screams "cover my a* for bad decisions". If Elliot cannot read into that BS, then they must be a bunch of wa-kers that can't produce a f"'ng green bean from a plant that was already producing green beans. All you need to do is water it. Hopefully their strategy is not built around Geoff's nonsense... For their sake.
NV has been a dying business for at least the past 6 years. Makes a lot of CENTS to divest. China market was/is their saving grace.
Employees are always the one that get sc--wed. We will get even more work and no pay increases.
Geoff starved NS to feed the Diabetes and Hugo money pit and profit black hole because he’s an id--t. MDT struggling for profitability now because growth has stalled in NS— the most profitable OUs in the entire company. Oh and BW has made countless unforced errors too. D-mb and d-mber are to blame.
Leadership is just rent seeking. There is not much talent in that pool. Elliot is more competent at rent seeking and will squeeze more rent out of the biz dragging them along. None of this benefits the employees or customers.
Nothin Geoff and his c-suite buddies seems to make investors happy (Hugo US cleared, double digit growth in cardiac ablation, StealthAxis). We can launch “cool” products but if we don’t show better margin and real disruptive technology, stock will never move. All clueless on how to run a real business, even with all their fancy MBAs. Investors have seen through the BS, not worth wasting their money investin.
Does anyone know what Bret Wall does? Completely non-existent in any communication on the state of neuroscience business.
Sad to be part of this business unit. Revolving door of leaders leaving mess after mess for us to clean up, while they get promoted before anyone caught onto their fraud.