Medtronic to Appoint New Board Members and Establish Special Committees Amid Elliott Stake

Medtronic is set to expand its board after Elliott Investment Management took a stake in the company. The medical device manufacturer plans to announce board changes alongside its earnings release, including the appointment of med-tech veterans John Groetelaars and Bill Jellison as independent directors. The company will also establish special committees focused on growth and operations.

Medtronic PLC is set to expand its board of directors following the announcement that activist firm Elliott Investment Management has taken a significant stake in the company. The medical device manufacturer plans to unveil the changes alongside its earnings release later today, according to reports [1].

As part of the efforts to boost its valuation, Medtronic will appoint med-tech veterans John Groetelaars and Bill Jellison as independent directors. The company also plans to establish special committees focused on growth and operations, which will include Groetelaars and Jellison and be led by CEO Geoffrey Martha [2].

The addition of these new directors and the formation of the special committees aim to enhance Medtronic's strategic direction and operational efficiency. One of the newly formed committees will explore tuck-in acquisition opportunities, R&D investments, and potential divestitures, while the other will seek ways to enhance earnings growth [3].

Shares of Medtronic rose over 3% in premarket trading following the news, indicating investor confidence in the company's strategic direction [2].

Medtronic and Elliott have been engaged in friendly discussions about ways to boost the company's valuation and build on ongoing plans to focus on core assets [3]. The exact size of Elliott's previously undisclosed stake could not be determined.

References:
[1] https://www.bloomberg.com/news/articles/2025-08-19/medtronic-to-change-board-after-elliott-takes-stake-wsj-says
[2] https://www.reuters.com/sustainability/sustainable-finance-reporting/medtronic-add-directors-form-panels-after-elliott-takes-large-stake-wsj-reports-2025-08-19/
[3] https://www.investing.com/news/stock-market-news/medtronic-adds-board-members-after-elliott-becomes-major-shareholder--report-4199469