Omar Ishrak is to step down as chairman of Dublin-headquartered medtech group Medtronic in December.
He has served as chairman since joining Medtronic as chief executive in June 2011. He retired as CEO in April and stayed on as executive chairman and chairman of the board to ensure a smooth leadership transition.
Current chief executive Geoff Martha will succeed him.
“I am excited about the future of the company, and I am certain that under Geoff’s leadership and the collective guidance of the board of directors, Medtronic will reach new heights,” said Ishrak.
“The Medtronic mission provides the company with a true and genuine sense of purpose, which the leadership of the company has followed diligently for over 60 years. I know that continued adherence to the guiding principles embodied in the six tenets of the mission will ensure long-term success,” he added.
Medtronic is among the world’s largest medical technology, services and solutions companies. It employs more than 90,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries.