Anyone that holds MDT shares have received the letter with the voting code.
Time to give GM a clear message and vote against him…
22 replies (most recent on top)
If he does get voted out, I don’t have faith in the board to replace him with someone who has Medtronic and us working class best interest.
Vote out these jokers
I predict upper 40s by end of 2023
They opened a new GLS lab in Ireland while laying off US based GLS employees in Santa Rosa and Boulder. Last week
https://www.linkedin.com/posts/scott-cundy_medtronicemployee-innovation-quality-activity-7112071306761670656-KTOS?utm_source=share&utm_medium=member_ios
I personally know 3 people who were laid off last week, most of them had been here 20 years .
Great going Geoff, it’s mind boggling how someone can be such a disaster and Survive doing nothing in the role he is in
“ Stock in the 70s. I guess laying off a bunch of folks, no travel, and no MDT branded merchandise didn't work. I wonder what other genius idea GM and his goonies will come up with.”
See the problem is there are still some “old school” med device experts in the company who have not full adopted the mindset like all the new leaders from other industries have. Like the CTO from Amazon and the ops leader from Walmart
@cxjc+1oDsG4F8 Geoff’s next vanity project - the keynote speech at a semi-conductor conference - will fix everything
The guy’s a fiddle shy of becoming Emperor Nero at this point
Stock Performance since Nov 2019 (when GM effectively took over the company):
MDT: -28%
S&P: +40%
BSX: +28%
DJ: +23%
ABT: +19%
What more is there to say? When is the board going to wake up and throw out this group of the most incompetent executive leadership?
@cxjc+1oDsG4F8 There is no other genius idea. There isn’t even another bad idea. The playbook is very limited: blame external macro factors - that somehow don’t affect peer companies - and restructure/layoff. That’s all he knows and he’s done it twice already.
But surely the next restructuring/layoff will be the one that rights the (sinking) ship. Third time’s a charm you know.
@cxjc+1oDsG4F8 They will continue to pay millions for more consulting help PowerPoints from McKinsey. Surely, hiring even more executive leaders from other industries outside medical devices will help too, lmao.
Stock in the 70s. I guess laying off a bunch of folks, no travel, and no MDT branded merchandise didn't work. I wonder what other genius idea GM and his goonies will come up with.
New analyst article predicts 50s: "I now see critical long-term support in the $75 to $77 zone – a break of that range could portend a bearish measured move price objective to the upper $50s based on the trading range over the past year."
Lol
@azlk+1oDsG4F8 - Stock is in the 70s now lol
We're screwed in Medtronic. If voting doesn't work, then we will need to stage a walk out.
@algj+1oDsG4F8 - you must work for the leadership team or be Geoff himself. Can you tell me how many of Geoff’s acquisitions have worked out? How much money have they actually poured into R&D versus spending millions here and there?
Hugo and AI? What big laugh. What are the sales figures for Hugo versus Davinci?
How many Hugo surgical robots have we actually sold?
Ultimately when you’re in charge of a company, the buck stops here. The fact that the stock is still in the low 80’s should tell you that layoffs, crazy acquisitions and other cost reduction strategies are not working.
I’m just floored by your post though. Are you really saying that years of layoffs and reorgs and celebrating 2% raises is Geoff doing all he can?
Give me a break lol
nothing will happen by voting, Geoff and his men controls millions of shares compared to peanuts what everyone else owns.
Geoff is trying very hard to change the culture of Medtronic, how is he to be blamed when we have so many free loaders who haven’t innovated in years?
Look at CVG R&D, they have many come up with new product in years, iterative is NOT considered new.
Thanks to Covidien who are still innovating and coming with Hugo and AI tech
$60 by end of 2023
Counting down to October 19th!
Besides that voting mechanism, is there any other place to give feedback to the Board and Leadership for « how to turn things around » at MDT? I am concerned for my 401K.
Yeah but this vote isn't about R&D leaders so why are you posting that bullsh*t here?
Looks like people just love to kiss Geoff's a-s
Lots of good r and d leaders have left over the last year or two because they couldn’t ge the support to really work on innovative projects. Medtronic believes If it takes more than 3 years, forget it.
Vote the whole board out!
It’s not GMs fault totally tbh.
We have people in R&D who haven’t innovated in years despite the funding for them. R&D leaderships have been collecting free money without anything to show for