So really, the best option we had for a CFO was someone from Renault-Nissan's Excom during the time of a massive financial corporate fraud committed by Carlos Ghosn, and involved in a $12B loss to Renault from their essentially failed joint venture with Nissan?
That's the best we've got? What is it with Geoff wanting to bring on either his cronies, people bound to fail (e.g. Amazon, Walmart, GE) or c-suite colleagues from failed experiments?
Geoff has it in his head that he needs "new blood" and fresh thinking from outside med device to succeed. This despite the evidence to the contrary - the past few years his Amazon, Wal-Mart, Renaut and other variety pack have been outplayed and out innovated by long-in-the-tooth leadership teamz at BSX and ABT. Wonder if Elliot Management has this same observation.
The real DEI
They hire people with these kinds of backgrounds on purpose. It's a silent sort of blackmail: go along with my plan or live with your sh*t reputation from your last job. It's loading up the excomm with people that owe him something.
Look at the number of ex-Medtronic execs that now make up the Solventum leadership team. Oh yeah, what a coincidence.
Cronyism is rife at Medtronic and it's by design. None of these people are trustworthy.
How can we hold them accountable?
No great mystery, you alluded to it.... Just old-fashioned GE cronyism...
They all take care of themselves...
Once you're a member of the club, you're set for life...