Medtronic names Chad Spooner CFO of MiniMed ahead of spinoff

Medtronic plc (NYSE: MDT) appointed Chad Spooner as chief financial officer of MiniMed, effective July 14, as the company prepares to separate its diabetes business into a standalone public company.

Spooner brings over 25 years of financial leadership experience across healthcare, consumer, and industrial sectors. He most recently served as CFO at BIC, a publicly traded global consumer goods company, where he participated in the company's transformation efforts. His career began at General Electric, where he spent a decade in corporate audit, financial planning, and senior finance roles in GE Energy.

Spooner also held CFO positions at Raffaela Apparel Group and Slingshot Health, and senior operational finance roles at Tenex Capital Management, a middle-market private equity firm he co-founded with over $1 billion in investments. He holds a BS in Mechanical Engineering from MIT and serves on the board of directors at Stamford Hospital.

"Chad's deep financial expertise, impressive track record, and proven leadership in driving transformation and growth will be instrumental as we prepare for our next chapter as an independent company," said Que Dallara, EVP and president of Medtronic Diabetes and CEO Designate of MiniMed.

In June, Medtronic announced MiniMed as the name for the planned diabetes company following the intended separation. The name honors the company's 40-year legacy in diabetes care technology for people with type 1 and type 2 diabetes requiring daily insulin injections.

Medtronic expects to complete the separation within 18 months of the initial announcement through capital markets transactions, subject to customary conditions and legal requirements including consultations with works councils and employee representative bodies.

The information is based on a company press release statement.

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