Fri. Nov 22nd, 2019

Medtronic names Geoff Martha as next CEO, replacing Omar Ishrak who is retiring

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Medtronic Plc

MDT, +0.61%

said Wednesday its Chief Executive Omar Ishrak is planning to retire at the end of the current fiscal year on April 26, 2020. The medical technology company said it has named Geoff Martha, currently executive vice president of its restorative therapies group, to become CEO effective April 27, 2020. Martha will first assume the newly created role of president and will join the board effective Nov. 1. Martha joined the company in 2011. He has also done stints at GE Healthcare and GE Capital. Medtronic shares were down 0.4% premarket, but have gained 18.2% in 2019, while the S&P 500

SPX, -0.32%

has gained 14.5%.

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