By any measure, whether market share, customer satisfaction, employee satisfaction, financial performance, or shareholder returns, Geoff and his leadership team have failed miserably. Geoff owns this mess, and he can't continue to blame COVID, higher interest rates, inflation, "macro economic" factors, and prior management for his personal failures. This disaster for all stakeholders started with the acquisition of Covidien in January 2015 and accelerated with Geoff assuming the CEO and Chairman role in 2020. Omar Ishrak was also a failed CEO, but at least he took his job seriously.
What I don't understand is how Medtronic's Board is allowing this incredible mismanagement to continue. Perhaps because the Board is over represented by GE and Covidien cronies. Medtronic was once an exceptional market-leading company before it was decimated by inept GE management. It is time to clean house in the senior management ranks and replace the Board of Directors. Perhaps the best solution would be for Medtronic to be acquired by a company with an experienced, competent, mature, and ACCOUNTABLE leadership team. Attributes the current leadership team is clearly deficient. The management ranks are so weak now after years of poor leadership, that it may not be possible for Medtronic to recover.
Perfectly said, @1gmkb+1mdJVhn9.