Medtronic’s new ops chief is PE exec Ploof | Personnel Moves Sept. 15, 2016

Medtronic’s new ops chief is PE exec Ploof

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Medtronic (NYSE:MDT) said it named a former private equity executive, Mark Ploof, to take over the responsibilities remaining with ex-CFO Gary Ellis, who is retiring effective Oct. 31.

Ellis, whose finance chief duties were assumed by ex-Comerica CFO Karen Parkhill in June, retained oversight of the company’s global operations, IT and facilities & real estate doings. Ellis, who spent 11 years as CFO during a 27-year tenure with Medtronic, is slated to keep his seat on Medtronic’s executive committee. Ploof will assume those duties as senior vice president of global operations & business services.

“Mark brings a diverse range of experiences to the Medtronic leadership team as well as a relentless focus on creating operational excellence, value creation and business growth,” chairman & CEO Omar Ishrak said in prepared remarks. “It is an exciting and transformational time for Medtronic, and I am confident in Mark’s ability to help us deliver against our strategic business priorities. From his broad knowledge of operations to his expertise in assessing and identifying opportunities to operate at scale and generate margin expansion, Mark’s vast experiences in a multitude of industries will bring fresh thinking and leadership to our organization.”

“I’m excited for this opportunity with Medtronic and to play such a vital role in helping the company achieve its Mission around the world,” Ploof added. “I am particularly pleased to join the men and women of Medtronic in these functional areas who are driving world class business performance and efficiencies in their work, and I know that we will play an instrumental part in helping Medtronic realize its operational and financial goals in the coming years.”

In addition to a stint at PE shop Cerberus Capital Management, Ploof was most recently chief customer experience officer at marketing solutions provider YP, a spinout from ATT, and GE. Read more

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