Q2FY23 Financial Summary and Strategic Highlights
Significant changes to accelerate growth and improve competitiveness
New operating model, culture enhancements, and incentives in place
New
operating
model
Enhancing
culture
Further
aligned
incentives
Eliminated group infrastructure and
moved to 19 focused and accountable
operating units
✓ Operating units have full control of P&L,
product development, and sales forces in
larger geographies
✓ More decentralized and delayered
✓ Increased transparency and
accountability
✓ Eliminated bureaucracy, with businesses
moving much faster
Injected new traits into our Mission-driven
culture
•
•
Act boldly
Compete to win
Move with speed and decisiveness
Foster belonging
Deliver results, the right way
✓ Employees quickly embracing change
with high engagement scores
Meaningful changes to our compensation
plans to enhance competitiveness and
reward performance
✓ Added market share as an annual metric,
in addition to revenue growth, profit, and
free cash flow
✓ Greater differentiation in payout based
on individual and business/region/
function performance
✓ Increased emphasis on equity instead of
cash
7
Investor Meetings | November 2022
MedtronicView entire presentation