Medtronic Gets 3M Law Chief To Join Medical Device Maker in 2022 - Bloomberg Law
Medtronic Plc has nabbed 3M Co.'s legal chief, as Ivan Fong joins the medical-device maker Feb. 1 as executive vice president and general counsel.
Fong succeeds Brad Lerman, who is retiring at the end of January in accordance with Medtronic’s mandatory executive officer retirement age of 65, according to a company statement Thursday.
He had been with 3M since 2012 and was the executive vice president, chief legal and policy officer for the past nine months. Before joining the company, he was general counsel at the Homeland Security Department for more than three years during President Barack Obama’s first term.
Medtronic produces medical devices ranging from surgical tools to ventilators. Based in Dublin, with U.S. headquarters in Minneapolis, the company posted a $1.3 billion profit for the three months ending Oct. 29.
“Ivan’s decision to join Medtronic reaffirms our position as a leading destination for top talent,” Medtronic Chief Executive Officer Geoff Martha said in the statement.
In June, Medtronic halted sales of its heart pump device after finding evidence that it could lead to more strokes than other comparable versions. Medtronic subsidiary Covidien also recalled one of its ventilators this month, citing a defect.
St. Paul, Minn.-based 3M makes a wide-range of products such as building materials, cleaning supplies, Post-it notes and equipment such as N95 face masks.
Despite the increased demand for personal protective equipment during the Covid-19 pandemic, 3M in December 2020 eliminated nearly 3,000 positions after other areas of its business suffered. This month, the company agreed to spin off its food safety sector and merge it with Neogen Corp. in a $9.3 billion deal.
Before his time at 3M and Homeland Security, Fong’s career also included stints with Cardinal Health Inc., General Electric Co., the Department of Justice, and Covington & Burling.
Medtronic outgoing legal lead Lerman has been with the company since 2014, according to his LinkedIn profile. He previously worked for the Federal National Mortgage Association, Pfizer Inc., Winston & Strawn, Kirkland & Ellis, and the Department of Justice.
Medtronic also announced the retirement of Rick Kuntz, chief medical and scientific officer, in April. The company did not name a replacement for Kuntz.
source: https://news.bloomberglaw.com/business-and-practice/medtronic-gets-3m-law-chief-to-join-medical-device-maker-in-2022
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