Medtronic plc (MDT, Financial) has announced a significant change in its financial leadership. On March 12, 2025, Jennifer M. Kirk, the company's Global Controller and Principal Accounting Officer, notified Medtronic of her decision to resign, effective May 2, 2025. Ms. Kirk is set to become the chief executive officer of Exubrion Therapeutics, a privately held company. Her resignation is not due to any disagreements with Medtronic's operations, policies, or practices.
To ensure a seamless transition, Medtronic has appointed Denise L. Blomquist as the new Global Controller and Principal Accounting Officer, effective March 17, 2025. Ms. Blomquist, who has been with Medtronic since 2004, has held various roles of increasing responsibility within the finance organization. She joined Medtronic from Opus Northwest, where she served as a finance director. Ms. Blomquist holds a bachelor's degree in accounting from the University of Wisconsin - Madison.
In her new role, Ms. Blomquist will receive a base salary and participate in Medtronic's short-term incentive program, the Medtronic Incentive Plan (MIP), as well as the 2021 Long-Term Incentive Plan (LTIP). These programs are designed to align with the compensation levels of similarly situated individuals within the company. Additionally, the Section 16 Officer Change in Control Policy will apply to her.
Ms. Blomquist's MIP and LTIP awards will be reviewed annually by the Compensation Committee of Medtronic's Board of Directors. Her equity grants will be governed by the company's standard forms of non-qualified stock option, restricted stock unit, and performance restricted stock unit award agreements for executive officers. Her employment is on an at-will basis, allowing termination by either party at any time.
There are no family relationships or transactions involving Ms. Blomquist that require disclosure under the relevant SEC regulations. Furthermore, there are no arrangements or understandings with other persons that influenced her selection as the Global Controller and Principal Accounting Officer.
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