Medtronic Board of Directors Announces Appointment of Omar Ishrak as Chairman and CEO (MDT)

Medtronic Inc. MDT announced today that its board of directors named Omar Ishrak as the company's new chairman and chief executive officer, effective June 13, 2011. Ishrak formerly served as president and CEO of GE Healthcare Systems, a $12 billion division of GE Healthcare supported by approximately 20,000 employees in 120 countries. Ishrak was also a senior vice president of GE Corporation and a member of the GE Corporate Executive Council. “We are delighted to welcome Omar Ishrak as Medtronic's chairman and CEO,” said Ken Powell, lead independent director of the Medtronic Board of Directors. “Omar is an enormously talented executive with a truly global perspective and a proven track record of driving innovation and growth in the medical technology industry. We are confident he has the leadership credentials and experience to move the company forward, advancing its position as the world leader in the development and application of medical technology to address the global challenges of chronic disease.”