September 8, 2015
St. Jude Medical Announces Leadership Transition Plan
September 9, 2015—St. Jude Medical, Inc. announced that its Board of Directors has implemented a leadership transition plan. Effective January 1, 2016, Michael T. Rousseau will become President and Chief Executive Officer (CEO) and a member of the St. Jude Medical Board of Directors.
Daniel J. Starks, St. Jude Medical’s Chairman, President, and CEO, has decided to retire from his position as President and Chief Executive Officer. Mr. Starks has been elected Executive Chairman of the St. Jude Medical Board of Directors.
According to the company, Mr. Rousseau joined St. Jude Medical in 1999 as Senior Vice President, Cardiac Rhythm Management (CRM) Global Marketing, and later that year, CRM marketing and sales were combined under his leadership. In January 2008, he was promoted to Group President and assumed responsibility for the company’s four product divisions. He was named Chief Operating Officer in 2014, overseeing global sales, marketing, technology development, operations, supply-chain, and quality functions. Additionally, Mr. Rousseau was the architect of St. Jude Medical’s recent integration of four product divisions into centralized global functions.
Mr. Starks became Chairman, President, and CEO of St. Jude Medical in May 2004. During his 11-year tenure, Mr. Starks led the company’s growth from approximately $1.9 billion in annual revenue in 2003 to more than $5.6 billion in annual revenue in 2014. As Executive Chairman, Mr. Starks will assist in strategic customer, business, and key stakeholder relationships globally and act as a strategic advisor to Mr. Rousseau in addition to his governance and oversight responsibilities.