Medtronic Inc., a global leader in medical technology – alleviating pain, restoring health, and extending life for millions of people around the world, announced that its board of directors named Omar Ishrak as the company’s new chairman and chief executive officer, effective June 13, 2011.

Ishrak formerly served as president and CEO of GE Healthcare Systems, a $12 billion division of GE Healthcare supported by approximately 20,000 employees in 120 countries. Ishrak was also a senior vice president of GE Corporation and a member of the GE Corporate Executive Council.

“We are delighted to welcome Omar Ishrak as Medtronic’s chairman and CEO,” said Ken Powell, lead independent director of the Medtronic Board of Directors. “Omar is an enormously talented executive with a truly global perspective and a proven track record of driving innovation and growth in the medical technology industry. We are confident he has the leadership credentials and experience to move the company forward, advancing its position as the world leader in the development and application of medical technology to address the global challenges of chronic disease.”

“I am honoured and excited to have the opportunity to lead Medtronic – a great company with a renowned, mission-based heritage of saving and improving lives,” said Ishrak. “I have admired Medtronic for many years and believe the company’s 60-year history of innovation, unparalleled global footprint and unmatched capabilities present enormous opportunities to improve the health of millions of people worldwide. I look forward to working with the Medtronic team to continue to advance the company as a global healthcare leader.”

Ishrak succeeds William A Hawkins, who in December 2010 announced his intention to retire from the company.