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Medtronic names new chairman, CEO

Medtronic has appointed Omar Ishrak as the new chairman and chief executive officer, effective 13 June 2011.

He will succeed William Hawkins, who in December 2010 announced his intention to retire from the company.

Ishrak formerly served as president and CEO of GE Healthcare Systems, a division of GE Healthcare.

He was also a senior vice president of GE Corporation and a member of the GE Corporate Executive Council.

Prior to joining GE Healthcare in 1995, Ishrak spent more than 13 years in senior technology development and business management roles at Philips Ultrasound, Diasonics and Elbit Ultrasound Group.

Medtronic Board of Directors lead independent director Ken Powell said they are confident Omar has the leadership credentials and experience to move the company forward, advancing its position as the world leader in the development and application of medical technology to address the global challenges of chronic disease."