Medtronic plc (NYSE:MDT) Morgan Stanley 23rd Annual Global Healthcare Conference September 8, 2025 4:50 PM EDT
Company Participants
Thierry Pieton – Executive VP & CFO
Conference Call Participants
Patrick Wood – Morgan Stanley, Research Division
Presentation
Patrick Wood
MD of Equity Research
I think we’ll kick things off. Thanks so much, everybody. Day 1 Morgan Stanley Global Healthcare Conference. Thanks, everybody, for coming. Patrick Wood, obviously, I run the U.S. MedTech team here. Exciting, thrilling disclosures, morganstanley.com/research disclosures. I’m sure you’ll all be going there right after this meeting. But what is exciting is to have Thierry here as CFO of Medtronic, which is an exciting one. So thanks for joining us.
Thierry Pieton
Executive VP & CFO
Thanks for having me. Pleasure to be here.
Question-and-Answer Session
Patrick Wood
Morgan Stanley, Research Division
I got to start with just kind of the obvious one because you joined the business from a different industry, and I’m probably going to want to dive into this a bit. But how have you found the transition? What surprised you, just everything about that?
Thierry Pieton
Executive VP & CFO
Yes. So I’ve worked for many different industries over my career with GE and with automotive, et cetera. So I’m used to kind of changing industries pretty quickly. I would say the transition to Medtronic has been really good. It’s a very sort of welcoming culture open to new ideas, and they wanted someone with my background. So they’re obviously — there’s high expectations, I guess. But it’s been easy to kind of get access to everyone in the business.
Look, there’s a lot of surprises on a day-to-day basis in terms of the technology, the products, et cetera. It’s easy to forget how amazing some of the products are and the difference that they make. The culture for
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