Medtronic Appoints Chad Spooner as CFO for MiniMed Diabetes Spinoff
Key Insights
Medtronic has appointed Chad Spooner as CFO of its diabetes business, effective July 14, 2025, as the company prepares to spin out the segment into a separate publicly traded company called MiniMed (search).
Spooner brings over 25 years of financial leadership experience, including his previous role as CFO at consumer goods company BIC (search), where he played a key role in driving innovation, growth and efficiency.
The MiniMed (search) spinoff is expected to be completed within 18 months through a series of capital markets transactions, with the company focusing on transforming diabetes care for millions with type 1 and type 2 diabetes.
Medtronic has appointed Chad Spooner as chief financial officer of its diabetes business, effective July 14, 2025, as the medical device giant prepares to spin out the segment into a standalone publicly traded company called MiniMed (search). The appointment comes as Medtronic advances its plan to complete the separation within 18 months through a series of capital markets transactions.
Executive Leadership for Diabetes Spinoff
Spooner brings over 25 years of financial leadership experience across healthcare, consumer, and industrial sectors to his new role. Most recently, he served as CFO at BIC (search), a publicly traded global consumer goods leader, where he played a pivotal role in the company's transformation to drive innovation, sustainable growth, operational efficiency, and shareholder value.
His career began at General Electric (search), where he spent a decade in management positions of increasing responsibility in corporate audit and financial planning, as well as in a senior finance role in GE Energy. Spooner subsequently held CFO roles at Raffaela Apparel Group, a Cerberus Capital Management portfolio company, and Slingshot Health (search), a startup offering a marketplace to connect patients to physicians. He also held senior operational finance roles at Tenex Capital Management, a middle-market private equity firm he co-founded with over $1 billion in investments.
"Chad's deep financial expertise, impressive track record, and proven leadership in driving transformation and growth will be instrumental as we prepare for our next chapter as an independent company," said Que Dallara, EVP and president of Medtronic Diabetes and CEO Designate of MiniMed (search).
MiniMed's Mission and Market Focus
The MiniMed (search) name honors the company's 40-year legacy of being at the forefront of transforming diabetes care to make it simpler and more accessible to millions of people around the world with intensively managed type 1 and type 2 diabetes. The company specifically targets those needing daily insulin injections to manage their blood sugar levels because their body doesn't produce enough insulin or isn't able to use it effectively.
MiniMed (search)'s mission is to make diabetes more predictable so everyone can embrace life to the fullest. The company has pioneered first-of-its-kind innovations for over 40 years and is committed to designing the future of diabetes management through next-generation sensors (CGM), intelligent dosing systems, and the power of data science and AI while always putting the customer experience at the forefront.
Strategic Preparation for Independence
Spooner will be responsible for overseeing the Finance function for Medtronic Diabetes and supporting initiatives aimed at accelerating profitable growth and delivering shareholder value as it prepares to become fully independent. His appointment underscores Medtronic's commitment to building a strong foundation for long-term success.
"I'm excited for the opportunity to help shape the future of a company with such a meaningful Mission, and I look forward to working with Que and the leadership team to build a strong, agile finance organization that supports innovation, drives sustainable growth, and creates long-term value for all stakeholders," Spooner said.
Spooner holds a BS in Mechanical Engineering from the Massachusetts Institute of Technology (MIT) and serves on the board of directors at Stamford Hospital. The separation is subject to customary conditions and legal requirements including consultations with works councils and other employee representative bodies.