Healthcare Industry News: Eli Lilly
News Release - June 26, 2008
Medtronic Board Elects Hawkins ChairmanMINNEAPOLIS--(HSMN NewsFeed)--Medtronic, Inc. (NYSE:MDT ) announced today that William A. Hawkins, chief executive officer, has been named chairman of the board of directors, effective August 21, 2008, the date of the company’s annual meeting of shareholders. At that time, Arthur D. Collins Jr., chairman of the board, will retire from the board, consistent with the transition plan that was announced in February 2007. Collins has served as board chairman since 2002.
The company also announced that Kendall J. Powell, chairman and CEO of General Mills, will become chair of the board’s corporate governance committee, also effective August 21, 2008. In this capacity, Powell will serve as lead independent director.
Collins joined the company in 1992 as an executive vice president and president of Medtronic International. He was elected chief operating officer in 1994, president in 1996 and chief executive officer in 2001. Collins served as chairman of AdvaMed, the medical technology industry organization, from 2004 to 2006. He currently serves on the boards of The Boeing Company, Cargill and U.S. Bancorp. He also is a member of the board of overseers of the Wharton School.
Hawkins was named president and chief executive officer in August 2007. Prior to this role, he served as president and chief operating officer of Medtronic for more than three years. He joined the company in January 2002 as president of Medtronic’s Vascular business. Before joining Medtronic, Hawkins was president and chief executive officer of Novoste. He started his medical technology career in 1977, and subsequently held numerous positions including corporate vice president and president of the Sherwood Davis and Geck division of American Home Products; president of the Ethicon Endo-Surgery organization of Johnson & Johnson; president, Devices for Vascular Intervention and U.S. Operations, for Guidant; and several executive positions including president of the IVAC division of Eli Lilly. He is a member of the board of visitors of the Pratt School of Engineering at Duke University.
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology – alleviating pain, restoring health, and extending life for millions of people around the world.
This press release contains forward-looking statements which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, government regulation, general economic conditions and other risks and uncertainties described in Medtronic’s Annual Report on Form 10-K for the fiscal year ended April 25, 2008. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward-looking statements.
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