Medtronic Shuffles Top Executive Positions

Minneapolis, MN-based Medtronic has promoted William Hawkins III, the company’s chief operation officer (COO) and president, to chief executive officer in replacing Arthur Collins Jr.

The move will be effective August 23, about the same time as the medical device manufacturer’s annual shareholders meeting.
Hawkins, 53 years old, will remain president of the company, the position that he has held since 2004.

Collins, who is 59, said that his age was a factor in the move. “I’ll be 60 at the end of the year and I’ve been with Medtronic for 15 years … I’ll be 100% focused on Medtronic for the next year,” Collins told Reuters News Service. Collins will remain as a director and chairman of the board until the annual shareholders meeting in August 2008.

The board has not yet made a decision about who will replace him as chairman, Collins said, adding the board will consider the position close to his departure date.

Also, Michael DeMane, 50, president of Medtronic Europe, Canada, Latin America and Emerging Markets, will replace Hawkins as COO.