Skip to main content

Medtronic CEO Ishrak praised for steering company in rough waters

  • Author:
  • Updated:

Two years into the tenure of Medtronic CEO Omar Ishrak, MPR visits the Minnesota-based company and reports that the executive is winning praise for improving the bottom line, even as the global medical device giant has struggled through a variety of difficulties.

Medtronic's stock is up about 45 percent and sales have increased since Ishrak took the helm, MPR reported.

Profits went up 16 percent during Ishrak's first year and fell about 4 percent in the second year, but profits remain above where they were a few years ago, MPR reports.

Ishrak has won accolades for the way he has handled controversies, including criticism of the company's much-criticized Infuse spine fusion product, and for being a steady hand steering the company through uncertainty related to the economy, heath care reform, and sagging demand for key products, MPR reports.

Investors Business Daily earlier this month reported more positive numbers: "It's hard to beat Medtronic for steady share price action, earnings and dividend growth lately. Shares of the world's biggest maker of medical devices have risen 27 percent this year, easily beating the S&P 500. They're up 38 percent from a year ago and 73 percent from a bottom of 30.18 in August 2011."

Among the company's recent projects is an artificial pancreas, Reuters reported.

Included in Ishrak's priorities: expanding into emerging markets like China and India, which has been even more challenging than he expected, the Business Journal reported last month.

Ishrak has a $1.2 million salary, with $6.2 million in total compensation for the year that ended April 30, the Star Tribune reported.

Next Up

Screen Shot 2022-11-25 at 6.44.11 PM

Standoff in Prior Lake: Man assaulted officer, broke into home

The suspect allegedly assault an officer outside Kwik Trip, fled and broke into a home.

snow - 12-10-21 - Joe Nelson - 5

Accumulating snow possible in Twin Cities next week

The storm system could arrive in the Tuesday-Wednesday timeframe.

Target store snow

With Black Friday barely underway, Target reveals Cyber Monday deals

Plans for the two-day sale were revealed Friday morning.

Screen Shot 2022-11-25 at 9.37.25 AM

Man waves replica assault weapon at drivers in downtown Minneapolis

The alarming incident was spotted by the new MPD chief, Brian O'Hara.

Screen Shot 2022-11-25 at 9.29.58 AM

Extremely drunk driver arrested in Chaska

The driver was more than four times the legal limit.

Screen Shot 2022-11-25 at 8.21.21 AM

Stillwater police looking for suspect who stole vehicle with 1-year-old inside

The suspect abandoned the vehicle with the child still inside just 5 minutes after the theft.

Screen Shot 2022-11-23 at 5.01.34 PM

Suspected Bloomington restaurant killer arrested in Oklahoma

The 47-year-old Texas man was arrested around 12:30 a.m. Thursday.

Screen Shot 2022-11-24 at 9.16.39 AM

Minnetonka woman, 23, ID'd as victim killed in Minneapolis crash

The fatal crash happened near the Minneapolis Convention Center on Nov. 21.


More than 100 geese, ducks found dead on partially frozen MN lake

The discovery was made in Waseca at the weekend.


After losing sponsor, advocates fear Minneapolis' Nice Ride could shut down

They are calling on the city to provide financial support till a new sponsor is found.

Screen Shot 2022-11-23 at 3.32.46 PM

Colleen Lindstrom announces departure from MyTalk radio show

Lindstrom's last broadcast on the long-running show will be Dec. 9.


CEO: Medtronic's focus paying off

After a solid last year and last quarter, Medtronic Inc. CEO Omar Ishrak is reiterating that his company's commitment is to growth through globalization, innovation and enhancing value, not just creating new medical technology products. It's what Ishrak has consistently preached in the year-plus since he took the helm at the world's largest medical device company.

Is Medtronic going after India's largest med-tech company?

A respected Indian business publication is reporting that Medtronic is negotiating with an Indian medical technology company to make a strategic investment in it. Trivitron Healthcare is reportedly India’s largest med tech company. The Fridley-based company has not commented specifically on the deal, however, CEO Omar Ishrak has made no secrets about his interest in India.

Medtronic cutting 1,000 jobs despite growing profits

The Fridley-based medical device maker plans to eliminate positions in facilities around the globe, including 220 positions at its Mounds View-based division. Medtronic topped expectations in the fourth quarter, but continues to struggle with the sale of heart rhythm devices as well as devices used in spine surgery.