Medtronic Files 8K - Changes Executive Management

Medtronic PLC (MDT) filed a Form 8K - Changes in Company Executive Management - with the U.S Securities and Exchange Commission on December 08, 2016.

As previously announced, effective as of June 20, 2016, Gary L. Ellis ceased serving as the Executive Vice President and Chief Financial Officer of Medtronic plc, a public limited company organized under the laws of Ireland (the "Company"). Since June 20, 2016, Mr. Ellis has served as Executive Vice President of Global Operations and Information Technology. Mr. Ellis intends to retire from the Company effective as of December 31, 2016.

In connection with Mr. Ellis's retirement, on December 8, 2016, the Company agreed to the terms of a Consulting Agreement with Mr. Ellis (the "Consulting Agreement") pursuant to which he will serve as a consultant to the Company from January 1, 2017 until December 31, 2017 (the "Term"). Mr. Ellis will provide advice as to Company matters of which he has special knowledge arising from his duties as former Chief Financial Officer and former Executive Vice President of Global Operations and Information Technology ("Services"). During the Term, the Company will pay Mr. Ellis $3,520 for each day that Mr. Ellis provides Services. The Consulting Agreement includes cooperation, non-disparagement, non-competition and non-solicitation covenants. The Consulting Agreement may be terminated by either party with written notice, without further obligation or liability.

The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/1613103/000119312516793116/d311376d8k.htm

Any exhibits and associated documents for this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/1613103/000119312516793116/0001193125-16-793116-index.htm

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.

(END) Dow Jones Newswires

December 14, 2016 17:34 ET (22:34 GMT)

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