Medtronic CFO Departs; Ishrak Takes Board Chair

Ticker: MDT · Form: 8-K · Filed: 2025-06-23T00:00:00.000Z

Sentiment: neutral

Topics: executive-departure, board-changes, compensation

TL;DR

Medtronic CFO Karen Parkhill is out, Omar Ishrak is the new Board Chair, and CEO Geoffrey Martha has a new pay deal.

AI Summary

On June 18, 2025, Medtronic plc announced the departure of its Chief Financial Officer, Karen Parkhill, effective July 19, 2025. The company also announced the election of Dr. Omar Ishrak as a Class III Director and the appointment of Dr. Ishrak as the new Chairperson of the Board of Directors. Additionally, Medtronic entered into a new compensatory arrangement with its Chief Executive Officer, Geoffrey Martha.

Why It Matters

The departure of a CFO and the appointment of a new Board Chair can signal strategic shifts or governance changes within a major medical device company like Medtronic.

Risk Assessment

Risk Level: medium — Changes in key executive positions and board leadership can introduce uncertainty regarding future strategy and financial oversight.

Key Players & Entities

FAQ

Who is replacing Karen Parkhill as CFO?

The filing does not specify who will replace Karen Parkhill as CFO.

What is the effective date of Dr. Omar Ishrak's election as Director and Chairperson?

The filing indicates the election and appointment occurred on June 18, 2025, with Dr. Ishrak serving as Class III Director.

What are the details of the new compensatory arrangement for Geoffrey Martha?

The filing states that a new compensatory arrangement was entered into with Geoffrey Martha, but specific details are not provided in this summary.

What was the reason for Karen Parkhill's departure?

The filing states Karen Parkhill's departure is effective July 19, 2025, but does not provide a specific reason.

When did Medtronic plc file this 8-K?

Medtronic plc filed this 8-K on June 23, 2025.

From the Filing

0001613103-25-000094.txt : 20250623 0001613103-25-000094.hdr.sgml : 20250623 20250623161720 ACCESSION NUMBER: 0001613103-25-000094 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20250618 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20250623 DATE AS OF CHANGE: 20250623 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Medtronic plc CENTRAL INDEX KEY: 0001613103 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] ORGANIZATION NAME: 08 Industrial Applications and Services EIN: 000000000 FISCAL YEAR END: 0425 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36820 FILM NUMBER: 251065161 BUSINESS ADDRESS: STREET 1: BUILDING TWO PARKMORE BUSINESS PARK WEST CITY: GALWAY STATE: L2 ZIP: H91 4K49 BUSINESS PHONE: 01135314381700 MAIL ADDRESS: STREET 1: BUILDING TWO PARKMORE BUSINESS PARK WEST CITY: GALWAY STATE: L2 ZIP: H91 4K49 FORMER COMPANY: FORMER CONFORMED NAME: Medtronic Ltd DATE OF NAME CHANGE: 20150112 FORMER COMPANY: FORMER CONFORMED NAME: Medtronic Holdings Ltd DATE OF NAME CHANGE: 20140711 FORMER COMPANY: FORMER CONFORMED NAME: Kalani I Ltd DATE OF NAME CHANGE: 20140709 8-K 1 mdt-20250618.htm 8-K mdt-20250618 0001613103 H91 VY19 false 0001613103 2025-06-18 2025-06-18 0001613103 us-gaap:CommonStockMember 2025-06-18 2025-06-18 0001613103 mdt:A0.250SeniorNotesDue2025Member 2025-06-18 2025-06-18 0001613103 mdt:A0.000SeniorNotesDue2025Member 2025-06-18 2025-06-18 0001613103 mdt:A2.625SeniorNotesDue2025Member 2025-06-18 2025-06-18 0001613103 mdt:A1.125SeniorNotesDue2027Member 2025-06-18 2025-06-18 0001613103 mdt:A0.375SeniorNotesDue2028Member 2025-06-18 2025-06-18 0001613103 mdt:A3.000SeniorNotesDue2028Member 2025-06-18 2025-06-18 0001613103 mdt:A3.650SeniorNotesDue2029Member 2025-06-18 2025-06-18 0001613103 mdt:A1.625SeniorNotesDue2031Member 2025-06-18 2025-06-18 0001613103 mdt:A1.000SeniorNotesDue2031Member 2025-06-18 2025-06-18 0001613103 mdt:A3.125SeniorNotesDue2031Member 2025-06-18 2025-06-18 0001613103 mdt:A0.750SeniorNotesDue2032Member 2025-06-18 2025-06-18 0001613103 mdt:A3.375SeniorNotesDue2034Member 2025-06-18 2025-06-18 0001613103 mdt:A3.875SeniorNotesDue2036Member 2025-06-18 2025-06-18 0001613103 mdt:A2.250SeniorNotesDue2039Member 2025-06-18 2025-06-18 0001613103 mdt:A1.500SeniorNotesDue2039Member 2025-06-18 2025-06-18 0001613103 mdt:A1.375SeniorNotesDue2040Member 2025-06-18 2025-06-18 0001613103 mdt:A4.150SeniorNotesDue2043Member 2025-06-18 2025-06-18 0001613103 mdt:A1.750SeniorNotesDue2049Member 2025-06-18 2025-06-18 0001613103 mdt:A1.625SeniorNotesDue2050Member 2025-06-18 2025-06-18 0001613103 mdt:A4.150SeniorNotesDue2053Member 2025-06-18 2025-06-18 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   _____________________________  FORM 8-K   _____________________________  CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 18, 2025   _____________________________  Medtronic plc (Exact name of Registrant as Specified in its Charter)    _____________________________    Ireland   1-36820   98-1183488 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) Building Two Parkmore Business Park West Galway , Ireland (Address of principal executive offices) (Zip Code) + 353 1 438-1700 (Registrant’s telephone number, including area code) Not Applicable Former name or former address, if changed since last report Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17

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