Medtronic Adds Two Directors After Elliott Becomes Major Shareholder

Medtronic plc is expanding its Board of Directors with the appointments of John Groetelaars and Bill Jellison as independent directors, following Elliott Investment Management's acquisition of a significant stake in the company. Alongside these appointments, Medtronic has established two new Board committees: the Growth Committee, which will focus on strategic portfolio management including tuck-in M&A and the separation of its Diabetes business, and the Operating Committee, which will oversee operational performance enhancements. CEO and Chairman Geoff Martha will chair both committees, with Groetelaars and Jellison participating actively. These board changes and governance realignments aim to sharpen Medtronic's focus on shareholder value creation, operational efficiency, and sustained earnings growth. The news was first reported by the Wall Street Journal and confirmed by Medtronic, whose shares rose in premarket trading following the announcement. This restructuring signals Medtronic’s commitment to responding to activist investor pressure and advancing its strategic priorities.