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• Case | HBS Case Collection | 2013 (Revised from original 2013 version)

  Omar Ishrak: Building Medtronic Globally

  Bill George and Natalie Kindred

  Omar Ishrak, Medtronic's first non-American CEO, aims to reinvigorate the medical device maker's growth by focusing on emerging markets, therapy innovation, and creative business models. In 2012, budget constraints in mature economies, the lack of new medical therapies coming to market, and the decline in growth of Medtronic's core businesses has reduced the company's once dynamic growth close to zero. As the newly appointed CEO, Ishrak faces the formidable challenge of restoring the company's growth. In his first 18 months as CEO, he has laid the groundwork for future growth by ramping up R&D investment in breakthrough therapy innovations. To bolster Medtronic's near-term prospects, he has supported creative product and business model innovations aimed at overcoming adoption barriers in emerging economies. Ishrak restructured his executive team and their responsibilities: the heads of Medtronic's global operating regions and major countries, who previously reported to the head of international, now report directly to the CEO, putting seven non-Americans on the executive committee. In another important milestone, Medtronic acquired a Chinese orthopedics company, which became its first fully integrated business unit outside the U.S. Ishrak is trying to decide whether these steps are sufficient to transform Medtronic from a multinational into a truly global company and restore its growth.

  Keywords: healthcare; medical devices; Medtronic; globalization; leadership; emerging markets; innovation; reverse innovation;

  Citation:

  George, Bill, and Natalie Kindred. "Omar Ishrak: Building Medtronic Globally." Harvard Business School Case 413-065, May 2013. (Revised from original March 2013 version.)

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• Background Note | HBS Case Collection | 2012 (Revised from original 2006 version)

  A Strategic Perspective on Bankruptcy

  Bill George, Jim Sharpe and Andrew N. McLean

  An overview of bankruptcy procedures in U.S. courts, recent filing data and a framework for evaluating a reorganization with creditors or considering opening a court-supervised reorganization under Chapter 11 of the Bankruptcy Code.

  Keywords: bankruptcy; financial crisis; financial distress; turnarounds; crisis management; legal aspects of business; negotiation; liquidation; boards of directors; hedge funds; Strategy; Perspective; Insolvency and Bankruptcy; Law; United States;

  Citation:

  George, Bill, Jim Sharpe, and Andrew N. McLean. "A Strategic Perspective on Bankruptcy." Harvard Business School Background Note 407-035, August 2012. (Revised from original November 2006 version.)

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• Comment | Wall Street Journal | July 12, 2012

  Finding a Cure for CEO-itis

  Bill George

  Citation:

  George, Bill. "Finding a Cure for CEO-itis." Wall Street Journal (July 12, 2012).

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