Martha keeps hiring B-team grifter execs. Everytime a long-time Medtronic successful leader exits, he finds some bizarre non-related-industry to jump in and mess things up.
But, yeah, Ford Autonomous cars and Amazon consumer robots have been really successful. I'm sure Washington will do similar for Medtronic (/s --- meaning nothing)
Astro does resemble HUGO. More self inflicted injuries to MDT stock.
there has been an exodus of top RD leaders for some time, they realize Geoff doesnt value them and the ones that are still here see this as a slap in the face to their experience.
Listen guys...Geoff is a fu----g id--t. He know he cannot surround himself with people who actually know how to run a device company or lead a function. He is a fu----g frat boy hockey playey who basically coasted on his sports achievements and sucking Omar's di-k at GE.
So he brings in people who know northing about device so he can still pretend to be the smartest boy in the room. This is called insecurity.
The crazy part is for him to steal someone from Amazon at the C suite level, Medtronic must have forked up some big bucks.
So these people get to come in with fat paychecks, golden parachutes, fu-k sh-t up royally, and exit in 2.5 years so someone other tool can take their place with a new vision. The new CTO doesn't give a sh-t...whether he screws up or not, he just won the lottery.
It's Geoff's incompetence, ego, insecurity and inexperience, all combined with zero strategic thinking...that has led to this mess.
Sadly before too long, GM may hire Mitt Romney to liquidate what remains of the former medtech giant.
“Innovation is our lifeblood”. As such, we’re bringing an ex-com level, enterprise-wide CTO, with zero prior medical device experience. Just another step on the Roadmap to Extraordinary!
I agree, the quality of people at General Manager and President levels have never been lower. Cadre of previous Yes men/women, with St. Thomas or St. Cloud MBAs (you think MBAs are bad, watch out for the ones who could not even get into Carlson School!)
The result - poor decisions, no strategy, lower revenue, more layoffs, more instability.
Medtronic is done. Eventually, Geoff and his crew will sell Medtronic for parts and they will make it out like bandits.
Chief Technology Generalist! Not a lick of medical device experience. 3 yrs and gone. So many better internal candidates.
Make no mistake, the leadership is so obtuse that hires diverse people based on looks but mentality. No one is interested on new ideas, there is no chance of changing the old lake culture that btw is pretty lame. Stop bragging about how great things were when org charts looked like a sad family tree.
Let’s face it. If you had to staff leadership of a med tech company and your choice was to lift and shift current medtronic sr management into the roles, or pick from the leaders who have left over the past 2 years, hands down you’d be drafting from the folks who bailed. Meanwhile mdt will keep pulling in “experts” from other industries and expecting them to just learn med tech on the job….
Bring back the nuclear pacemaker!
All those nuclear engineering degrees will come in handy, right?