Mergers & Acquisitions ·
Medtronic completes separation of MiniMed Group, Inc. and appoints Michael Marinaro as President
MDTMedtronic plc
Medtronic plc completed the separation of its diabetes business, MiniMed Group, Inc., following the settlement of an exchange offer where shareholders exchanged Medtronic ordinary shares for MiniMed common stock at a 5.4x subscription rate. Concurrently, the Board appointed Michael Marinaro as President, effective October 14, 2026, expanding his oversight to include Greater China operations and increasing his annual base salary to $1 million with approximately $3.25 million in supplemental long-term incentive awards. The company also held its Annual General Meeting, electing twelve directors and approving routine governance matters including auditor ratification and share repurchase authorization. Medtronic plc is a leading global healthcare technology company that develops medical devices and therapies for cardiac, surgical, neurological, and metabolic conditions.