Medtronic Names CFO For New Diabetes Company Ahead Of Intended Spin-Off

Health technology company Medtronic plc (MDT) on Tuesday announced the appointment of Chad Spooner as CFO of MiniMed.

The appointment comes ahead of MiniMed’s separation from Medtronic as a standalone, public company. MDT shares are trading 1% higher at the time of writing.

Medtronic announced its intent to split its Diabetes business into a standalone company in May. The move, it said, will create a more focused Medtronic, with a more simplified portfolio including cardiovascular, neuroscience, and medical-surgical.

The company also noted that the separation is expected to be accretive to Medtronic’s earnings and operating margin.

Medtronic expects the separation to be completed within 18 months of the initial announcement. The company is eyeing an initial public offering (IPO) and subsequent split-off.

Que Dallara will be the CEO of the new diabetes company, named MiniMed, which is expected to have over 8,000 employees. Dallara is currently the President of Medtronic Diabetes.

Spooner’s appointment will be effective July 14, and he will be responsible for overseeing the Finance function for Medtronic Diabetes and supporting initiatives.

He was most recently CFO at BIC, a publicly traded global consumer goods company. Dallara also held leadership roles across healthcare, consumer, and industrial sectors, including at Raffaela Apparel Group, Slingshot Health, and Tenex Capital Management.

Medtronic’s diabetes portfolio reported revenue of $2.76 billion in fiscal year 2025 (FY25), marking a growth of 10.7% year-on-year (YoY) and representing 8% of Medtronic’s total revenue in the period.

On Stocktwits, retail sentiment around Medtronic is trending in the ‘neutral’ territory over the past 24 hours, coupled with ‘high’ message volume.

MDT stock is up by 11% this year and by about 15% over the past 12 months.

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