Medtronic plc has announced the appointment of John Groetelaars and Bill Jellison as independent directors to its Board of Directors, effective immediately. The company also revealed the formation of two new Board committees aimed at enhancing strategic portfolio management, operational execution, and capital allocation.
The newly established Growth Committee will focus on evaluating and executing growth-accretive mergers and acquisitions, organic research and development investments, and potential divestitures. This includes the ongoing plan to separate Medtronic’s Diabetes business. The Operating Committee will oversee initiatives to optimize operational performance, expand margins, and drive sustained earnings acceleration through improvements in manufacturing, supply chain, and overall operations.
Geoff Martha, Chairman and CEO of Medtronic, will chair both committees. Groetelaars and Jellison will also serve on one or both committees.
“I am pleased to welcome John and Bill to the Medtronic Board of Directors – each of whom brings decades of relevant experience delivering growth as executives and directors of public companies in the medical technology industry. John’s leadership managing global operations and Bill’s deep financial expertise will also be valuable to the boardroom,” said Geoff Martha, chairman and chief executive officer. “We are at an exciting inflection point and in a period of strong momentum, with multiple growth drivers already delivering and additional breakthrough therapies set to launch in the months ahead. With the addition of these new Board members and the formation of these two new committees, we are accelerating our strategic growth priorities and advancing the simplification and optimization of our operations. The separation of MiniMed is an example of the important steps we’re taking to create a more focused and more profitable Medtronic. By sharpening our focus on high-margin growth opportunities, we are well-positioned to deliver stronger performance and greater value for patients, customers, and shareholders.”
Medtronic plans to host an Investor Day in mid-2026 where it will discuss updates from both new committees as well as future strategic priorities.
These actions follow discussions with Elliott Investment Management L.P., one of Medtronic’s largest investors.
Martha continued, “We appreciate our productive dialogue with Marc Steinberg and the Elliott team. The durable growth drivers now taking hold across several of our businesses are strengthening Medtronic’s trajectory and reinforcing our conviction in the company’s future. The Board believes Medtronic has the right strategies to build on this momentum and deliver sustained, superior returns for investors over the long-term.”
Marc Steinberg from Elliott added: “Our decision to become one of Medtronic’s largest investors was driven by our strong conviction that the company is entering a new chapter of exceptional value creation defined by accelerating growth, operational improvement and enhanced strategic clarity. We believe Medtronic’s recent innovations in some of the medical technology sector’s most attractive markets have positioned the company for an inflection in organic growth. Combined with its renewed focus on portfolio simplification and improved operational execution, Medtronic is set to deliver a sustainable acceleration in earnings growth as well. Today’s announcements – including the addition of new directors with deep medical technology experience and the formation of two focused Board committees – are the right steps towards realizing Medtronic’s potential. We look forward to continuing our constructive partnership with Geoff Martha and the Board and to working closely together to realize this unique value-creation opportunity.”
Groetelaars previously served as interim CEO for Dentsply Sirona after holding director roles there; he was President & CEO at Hillrom until its acquisition by Baxter International in 2021; earlier positions include executive roles at Becton Dickinson following its acquisition of C.R. Bard.
Jellison is a former Vice President & CFO at Stryker Corporation who held several leadership positions during 15 years at Dentsply International; he currently advises Astor Place Holdings (the private equity arm for Select Equities) among other companies.
Both Groetelaars and Jellison will be nominated for election at Medtronic’s 2025 Annual General Meeting.
Medtronic plc is headquartered in Galway, Ireland with over 95,000 employees across more than 150 countries providing technologies that treat around 70 health conditions globally.
