Medtronic plc
Compensation Approval for Interim CFO
Summary
Medtronic plc announced that its Compensation Committee approved new compensation arrangements for Gary Corona, who was appointed as the interim Chief Financial Officer effective August 3, 2024. The compensation includes a bi-weekly cash stipend of $12,500, an equity grant of 8,966 time-based restricted stock units, and maintained his annual base salary of $500,000, target bonus equal to 70% of annual base salary, and long-term incentive grant of $1 million.
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About Medtronic plc
Medtronic plc is a leading global healthcare technology company that designs, manufactures, and sells innovative medical devices and therapies used in various medical procedures. The primary function of Medtronic is to improve healthcare outcomes by providing advanced therapeutic solutions. Its extensive product portfolio includes cardiac and vascular devices, diabetes-related products, minimally invasive therapies, and neurosurgical technologies. Medtronic plays a vital role in the medical device industry, catering to cardiovascular treatment, advanced diabetes management, spinal and musculoskeletal therapy, and more. Notably, the company is renowned for its pacemaker technology and is a pivotal player in cardiac care. The company's innovations significantly impact the healthcare sector by enhancing the quality of life for patients worldwide and improving the effectiveness of medical treatments. As a key player in the medical device market, Medtronic is instrumental in setting industry standards and advancing medical technology through continuous research and development. Founded in 1949 and headquartered in Dublin, Ireland, Medtronic's global presence underscores its substantial contribution to the healthcare industry across various continents.
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