Bill George
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Omar F U; my mdt stock is still sitting at buck 80 10 Years on, while rest of investments have been riding alongside S&P.
A-hole, your DEI nonsense tanked the company. I hope all your wealth are stuck with us.
Omar absolutely dragged Medtronic down this path and Geoffrey Martha basically gaslighted & accelerated Medtronic failures that we’re witnessing now.
Omar has failed everywhere he went since departing mdt; look at his SPAC, places he’s sitting as board etc.
Omar was certainly a better CEO - at the end of the day the market cap increased under him, and plummeted under GM
But Omar had a problem that a lot of successful CEOs have or have had - they pick mediocre yes men to be their successors, and the board blindly follows their suggestions. Even at MDT, Bill George (very successful) picked Art Collins (a complete dud), Bill Hawkins fired a very competent Michael Demane (then COO) because he was not a "yes-man" and subsequently Bill was also fired by the Board. Omar was picked up through an executive search process.
Omar also recruited Pat Gelsinger to run Intel, another abject failure.
Outside MDT so many examples of superstar CEOs picking horrible successors - Welch picked Immelt at GE (end of GE), Howard Shultz picked up a horrible CEO at Starbucks etc. etc.
Omar was what the company needed at the time after floundering under Bill Hawkins. While I left after only about a year of Martha's tenure, I had a sense that he didn't really have the same kind of vision Ishrak did.
That being said, I joined toward the end of Art Collins' run as CEO, and he was by far the best, both in terms of running a company that was fair to customers, employees and shareholders, but also in terms of trying to grow the company naturally at a slow but steady rate.
I'd had the opportunity through my time there to meet Earl (at the medallion ceremony), Art, and Bill Hawkins (at the same medallion ceremony), and only Earl seemed genuinely interested in me as a human being, and in recognizing my contribution to the company, even in IT. Though all of that being said, no CEO since Collins bothered coming to any IT event I attended.
Post from TheLayoff.com
If Earl Bakken was still alive, Boy George wouldn’t still be the CEO.
Mr. Bakken all The Way,
I had honor of meeting him once. If he was still alive not sure what he’d make out of Geoffrey Martha - failures in both fiscal and innovation.
Boy George
Neither
Bill George