It has been 5 years since this group took over the company (GM became President and effectively took over Nov 1 2019), so let us take stock of performance:
MDT: -17%
ABT: +42%
IHI ETF: +43% (Med device ETF)
SYK: +74%
BSX: +106% to date
A whopping negative 59% vs. the nest highest competitor.
As a shareholder, this is just insane!! BOD please fire this group of incompetents!
7 replies (most recent on top)
the fact is most of our problems happened when Geoff scrambled the company with the Op Model debacle. he created a mess with operations, too many buisnesses that were not working together, and you saw a lot of good leaders leave following these changes. Geoff owns the mess we are in despite the line he's singing.
I've never understood how Geoff can get away with the comment that he's "inherited all the problems and mistakes of the previous leaders" - He was on EXCOM since he came to Medtronic in 2011 - 9 years before becoming CEO.
He is one of the 'previous leaders'.
If he is referring to leaders prior to 2011, he should have 'fixed' any issues in his 14 years at the EXCOM level.
There is only one leader here to point fingers at.
Truth be told, employees have lost trust and faith in Geoff as have financial institutions which is why even when there are good numbers the stock doesn't move.
Geoff Martha has no idea how to lead a Med-Tech company. He has minimal understanding of what new innovation is that is required to improve clinical outcomes. He talks in generalities, hires leaders around him with no clue of industry and clearly can’t even sort out finances in a way to address poor margin gains.
Brutal stock performance. Geoff needs to go.
oh but you dont understand, Geoff inherited all the problems and mistakes of the previous leaders and he's on a one man campaign to purge us of anyone whose been here more than 10 years that he can stamp "blame" on their back as they head out the door. just give him 5 more years to finish what he started!
Good money after bad. And in ever increasing very large amounts. And the true cost is not just financial to all of us, but a very serious impact to individual lives and their families emotionally, physical wellness, etc.
The buyout amount keeps increasing exponentially as the years roll by. Very bad situation for the company itself, and of course the rank and file employees. When you're in a hole ... STOP DIGGING !!! If someone would only apply common sense to this situation.
What do ya mean? Geoff is the next Jack Welch!