To get GM and KP out?
The street doesn’t trust them anymore, so their departure is overdue!
17 replies (most recent on top)
If Marinaro has a brain he's likely already interviewing for some CEO gig elsewhere.
A lot of R&D leaders don't even belong in their positions. The business I am in until recently had a VP of R&D who climbed his way up from being a manufacturing floor supervisor in DR. Think about where attention to detail, product development and innovation rank for a manufacturing floor worker.
If Robotics is the future, what about Marinaro?
All these Legacy medtronic executives are the ones who can’t catch up and won’t admit to reality. We need to stop putting more money into money pits like freaking RDN and CVG in general
They had a good run, we built a company on their backs, but to be honest it can’t be they be the growth driver for Medtronic anymore.
The industry is heading towards automation, AI and robotics, thats why should and are rightly doubling down on Diabetes and Surgical Robots. Atleast Geoff Is doing one thing right.
There is no more high growth innovation potential left in CVG, maybe barring Afib and CRM. Our Competitors have caught up to us, and we can’t just bribe our way to physicians like those sales reps did at Kansas hospital and put 18 freaking DCBs on a patient.
Really Need to be getting rid off dead weights in those groups , like how they rightly dismantled Aortic in April
@@5wjs+1okIKggX, I remember how angry Brett was when he found out how much reps were making… what a chump
Have you noticed how many high level R&D leaders have left. Considering we're "engineering the extrordinary 'and "putting the tech into med tech" you'd think this is where they'd want to be but between the VERP and those who have jumped ship since there's a real brain drain and a total lack of confidence that ExCom is committed to innovation. New CTO hasn't inspired confidence. I think KP would be easy to replace with another CFO from a big company, there are no internal candidates for CEO. Gotta rip the band-aid off and clean house. Never get back credibility on the street with the failed leaders we have now changing chairs.
@4uau+1okIKggX Problem with Brett is he pushed out anyone who could challenge him which propped him up. Now that they are gone because they were tired of him taking their projects without reward/credit but being left holding the bag on the bad deals so it is only a matter of time until it catches up to him.
Seriously anyone posting on this message board could perform better than GM and the washed up C-suite executives. I agree Sean is the best at the top.
Sean Salmon is probably a strong bet. Brett has gotten lucky with his portfolio but has made horrible deals. Que is...well Que aka egotistical dictator. Rob only knows Europe so he's out.
No one else left really, I think they need new blood. Someone from the outside who can come in and look at the gong show that is currently going on and say "WTF IS GOING ON HERE". That's the kind of CEO we need, not some corporate suit who has been climbing the Medtronic ladder and only knows how to jack leadership off with the right "narrative".
The entire C-suite needs to go - none of them (with the exception of Salmon, wonder why CVG is performing the best?) has LT Med-Device experience.
There are great external candidates out there with strong med-device experience (some of whom GM and Omar pushed out) who can come back and change the course of this company.
Fair point to ask who should replace them.
I believe the good candidates left. And no one of the board of directors is a good option, because they are accomplices of the current situation.
I don’t know if they are good candidates one level down, so I tend to go for an external AND with healthcare experience candidate.
Sadly, the strong leaders left when they were passed over for GM, who has since been gutting his former RTG group. It's like he pushed a bunch of bad deals that he knew were bad to get where he is now.
Ok, if we agree that GM and KP are the problem and they need to go, could you also please propose who should replace them that can right the ship? Should it be someone from within or should it be someone from outside. A bit of constructive feedback rather than just fire fire fire rhetoric would be nice. How do we right this ship? What is the problem? Let’s apply the CAPA principles here.
Since GM became CEO annual stock returns:
MDT: -27%
DowJones: 0%
BSX: +21%
Time to go
@1lnt+1okIKggX I think you are missing the /s
I think Geoff knows how to turn it around. His vision of Bold Thinking, Competing to Win and Medtronic Mindset have certainly inspired me to to go about my job with a renewed passion and had installed a deep personal commitment to the Mission!
Seriously, both of these need to go asap.
It all started with the mess Omar created and now all of that is coming to fruit and GM has no clue how to turn it around