Medtronic Chairman Omar Ishrak To Retire; Geoff Martha To Succeed Ishrak As Chairman

(RTTNews) - Medtronic plc (MDT) said Tuesday that Omar Ishrak has decided not to stand for re-election at the Annual General Meeting in December. He will retire as Executive Chairman and Chairman of its Board of Directors effective December 11, 2020.

Medtronic Chief Executive Officer, Geoff Martha, will succeed Ishrak as Chairman of the Board. Martha has served on the Board since November 2019 and has been Chief Executive Officer since April 2020.

Ishrak has served as Chairman of the Board since joining Medtronic as Chief Executive Officer in June 2011. He retired as Chief Executive Officer in April 2020, and stayed on as Executive Chairman and Chairman of the Board to ensure a smooth leadership transition, the company said in a statement.