09.09.15
St. Jude Medical Inc. is planning change at the very top of its leadership.
Effective at the beginning of next year—Jan.1, in fact—Michael T. Rousseau will become president and CEO and a member of the board of directors. Daniel J. Starks, having served as St. Jude Medical’s chairman, president and CEO, has decided to retire from his position as president and CEO, and has been elected executive chairman of the board.
Rousseau joined St. Jude Medical in 1999 as senior vice president, cardiac rhythm management (CRM) global marketing, and later that year, CRM marketing and sales were combined under his leadership. In January 2008, he was promoted to group president and assumed responsibility for the company’s four product divisions. He was named chief operating officer in 2014, overseeing global sales, marketing, technology development, operations, supply chain and quality functions.
Rousseau was the architect of St. Jude Medical’s recent integration of four product divisions into centralized global functions. He led the realignment of global supply chain management, restructured the company’s overseas manufacturing, and established a global quality system.
“St. Jude Medical is moving forward with this leadership succession from a position of strength and, because of this, we believe it’s the right time to make this transition,” Starks said. “Mike’s vision, expertise and proven track record at St. Jude Medical make him a natural choice for CEO. Today's announcement underscores our deep bench of talent and, together, we will ensure a seamless transition for the benefit of all St. Jude Medical stakeholders.”
“Over the past 16 years, I have had the privilege of working alongside Dan to change the company from being largely dependent on valves and CRM devices to being an industry leader with a diverse disease state management portfolio. With our recent acquisitions and our strong, robust product pipeline, I am focused on remaining steadfast in our commitment to innovation and growth so that we can continue Dan’s legacy of bringing the right solutions at the right time to our customers, while improving patient outcomes and reducing healthcare costs,” said Rousseau. “This is an exciting time for our industry, and I am highly confident in our ability to continue to deliver technologies that transform patient care in markets around the world. I am honored to assume this leadership role in January and look forward to the opportunity to continue shaping the great legacy of St. Jude Medical.”
Starks became chairman, president and CEO of St. Jude Medical in May 2004. During his 11-year tenure, he led the company’s growth from approximately $1.9 billion in annual revenue in 2003 to more than $5.6 billion in annual revenue in 2014. Starks is credited with delivering value to the company’s shareholders, having delivered approximately 110 percent return to shareholders through share price appreciation and the institution of an annual dividend beginning in 2011. As executive chairman, Starks will assist in strategic customer, business and stakeholder relationships globally and act as a strategic advisor to Rousseau in addition to his governance and oversight responsibilities, according to the company’s board.
St. Paul, Minn.-basedSt. Jude Medical has four major clinical focus areas: cardiac rhythm management, atrial fibrillation, cardiovascular and neuromodulation.
Effective at the beginning of next year—Jan.1, in fact—Michael T. Rousseau will become president and CEO and a member of the board of directors. Daniel J. Starks, having served as St. Jude Medical’s chairman, president and CEO, has decided to retire from his position as president and CEO, and has been elected executive chairman of the board.
Rousseau joined St. Jude Medical in 1999 as senior vice president, cardiac rhythm management (CRM) global marketing, and later that year, CRM marketing and sales were combined under his leadership. In January 2008, he was promoted to group president and assumed responsibility for the company’s four product divisions. He was named chief operating officer in 2014, overseeing global sales, marketing, technology development, operations, supply chain and quality functions.
Rousseau was the architect of St. Jude Medical’s recent integration of four product divisions into centralized global functions. He led the realignment of global supply chain management, restructured the company’s overseas manufacturing, and established a global quality system.
“St. Jude Medical is moving forward with this leadership succession from a position of strength and, because of this, we believe it’s the right time to make this transition,” Starks said. “Mike’s vision, expertise and proven track record at St. Jude Medical make him a natural choice for CEO. Today's announcement underscores our deep bench of talent and, together, we will ensure a seamless transition for the benefit of all St. Jude Medical stakeholders.”
“Over the past 16 years, I have had the privilege of working alongside Dan to change the company from being largely dependent on valves and CRM devices to being an industry leader with a diverse disease state management portfolio. With our recent acquisitions and our strong, robust product pipeline, I am focused on remaining steadfast in our commitment to innovation and growth so that we can continue Dan’s legacy of bringing the right solutions at the right time to our customers, while improving patient outcomes and reducing healthcare costs,” said Rousseau. “This is an exciting time for our industry, and I am highly confident in our ability to continue to deliver technologies that transform patient care in markets around the world. I am honored to assume this leadership role in January and look forward to the opportunity to continue shaping the great legacy of St. Jude Medical.”
Starks became chairman, president and CEO of St. Jude Medical in May 2004. During his 11-year tenure, he led the company’s growth from approximately $1.9 billion in annual revenue in 2003 to more than $5.6 billion in annual revenue in 2014. Starks is credited with delivering value to the company’s shareholders, having delivered approximately 110 percent return to shareholders through share price appreciation and the institution of an annual dividend beginning in 2011. As executive chairman, Starks will assist in strategic customer, business and stakeholder relationships globally and act as a strategic advisor to Rousseau in addition to his governance and oversight responsibilities, according to the company’s board.
St. Paul, Minn.-basedSt. Jude Medical has four major clinical focus areas: cardiac rhythm management, atrial fibrillation, cardiovascular and neuromodulation.