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Covidien Announces Organizational Changes

DUBLIN, Jun 15, 2011 (BUSINESS WIRE) --

Covidien (NYSE: COV), a leading global provider of healthcare products, today announced several leadership changes that will streamline its organization to accelerate growth and innovation. These changes are all effective July 1, 2011.

Bryan C. Hanson will become Group President, with responsibility for the Surgical Devices and Energy-based Devices businesses. Bryan joined Covidien in 1992 and has held several positions of increasing responsibility, including his current position, President, Energy-based Devices. During the five years Bryan led this business, energy sales doubled and a number of innovative new products were successfully launched.

Peter L. Wehrly will become Group President, with responsibility for the Respiratory & Monitoring Solutions and Vascular Therapies businesses, as well as regional responsibility for Japan, Australia-New Zealand and Canada. Pete joined Covidien in 2009 as President, Respiratory & Monitoring Solutions, and has more than 20 years of experience in the medical devices industry.

Michael Sgrignari will become Senior Vice President, Quality and Operations, with global responsibility for Quality Assurance, Regulatory Affairs, Logistics, Environmental Health & Safety and Operational Excellence. Mike joined Covidien in 1991 and has held a number of increasingly responsible positions in manufacturing and operations during his tenure.

Bryan, Pete and Mike will all report to José (Joe) E. Almeida, currently President, Medical Devices and CEO-elect. The position of President, Medical Devices, will be eliminated, but Medical Devices will remain an external reporting segment.

James M. Muse, Senior Vice President, Global Supply Chain, will retire after 32 years of outstanding service. Scott Flora, President, Surgical Devices, who successfully led the business for the past five years, will leave Covidien to pursue other career opportunities.

"These appointments will enhance our ability to deliver strong, sustained and profitable growth as we execute against our strategic initiatives," said Almeida. "I'd like to thank Jim and Scott for their years of service to Covidien and wish them the best in their future endeavors."

ABOUT COVIDIEN

Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2010 revenue of $10.4 billion, Covidien has 41,000 employees worldwide in more than 65 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.

SOURCE: Covidien

Covidien
Eric Kraus, 508-261-8305
Senior Vice President
Corporate Communications
eric.kraus@covidien.com
or
Bruce Farmer, 508-452-4372
Vice President
Public Relations
bruce.farmer@covidien.com
or
Coleman Lannum, CFA, 508-452-4343
Vice President
Investor Relations
cole.lannum@covidien.com
or
Todd Carpenter, 508-452-4363
Director
Investor Relations
todd.carpenter@covidien.com

Stock Quote

COV (Common Stock)
ExchangeNYSE
(US Dollar)
Price$69.86
Change (%) Stock is Up 0.02
 (0.03%)
Volume1,996,576
As of 04/17/14 4:07 p.m. ET
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