I can’t come up with one reason why the board is still in place. I don’t mean this sarcastically but can anyone else? My guess is there are agreements with the big investors and current leadership or a purchase of an outside company. Thoughts?
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I predict the BOD has a new CEO lined up and when they come in one of their first strategies the announce will be to roll back most of what Geoff did and strategically evaluate how to break up the company into 2 or 3 more manageable and focused companies.
Medtronic board seems to be having incentives beyond share price! Obviously dividends also are not that great… being a shareholder, I badly want the share prices to go up but don’t seem happening until GM rules with his sycophants!
Very "rigged against high performers." It's the MN mentality. The showoffs who excel are only trying to make the rest of us feel bad. Lake Wobegon where all the children are above average was Garrison Keillor's so on target joke..
Corruption, nepotism, and rent-seeking. A board gig for a multinational is about one of the best gigs you can get. Just sitting on that board nets them more than most of our salaries. At a personal level, the best thing they can all do is ride it out until parts of Medtronic are acquired, and eventually it is taken over.
I would bet the Board is quietly interviewing CEO candidates but it’s a tough role to fill, given our current state of inertia and giant size, and there are many other companies shopping for new leadership. Without an obvious internal candidate to promote into the role (and we are soon to lose our CFO, a lot of change for investors to digest at one time) perhaps the best option for the Board is to propose a breakup: Diabetes, Surgical, and everything also can each be standalone companies and I would bet will be worth more away from Medtronic.
Got 3 interviews this week, hopefully I can escape this hellhole
I hear ya...I am looking for my escape hatch. This place is rigged against high performers.
GM and the board are going to sell Medtronic in piece and they will make it out with millions.
It’s embarrassing how bad this company is run. I’ve been with the company for 25+ years and this is the absolute worst I’ve ever seen. It’s like we are in a tailspin and GM is just like “meh, fu-k it. I’ll get paid. Let’s stick around to watch the wreckage”
I think many of the shareholders who are outside of Medtronic have no idea of how truly bad things are internally.