WAYNE, PA — Teleflex Incorporated (NYSE: TFX) appointed longtime Medtronic executive Jason Weidman as chief executive officer as the medical device maker prepares for a post-divestiture restructuring focused on higher-growth hospital and interventional care markets.
Weidman will become president and CEO on June 8, succeeding Stuart Randle, who has served as interim chief executive since January and will remain on the company’s board, Teleflex announced.
The leadership transition comes as Teleflex reshapes its portfolio following planned divestitures and prepares to deploy capital toward debt reduction and shareholder returns.
Chairman Stephen Klasko said the company expects to complete approximately $1 billion in share repurchases and $800 million in debt reduction after pending asset-sale transactions close.
Weidman spent nearly two decades at Medtronic plc, most recently leading the company’s coronary, renal denervation, aortic, peripheral, and venous businesses.
In those roles, he oversaw multibillion-dollar operating units focused on cardiovascular and vascular device markets.
“Following the completion of the divestitures, Teleflex will be a fundamentally transformed company, with a portfolio focused on our core interventional, critical care and high acuity hospital markets,” Klasko said in a statement.
Teleflex indicated the company is positioning itself around higher-growth medical technology segments tied to interventional procedures and hospital-based care.
“It’s an honor for me to join Teleflex at such an important inflection point and to help lead the Company into its next phase of growth,” Weidman said.
Before joining Medtronic in 2006, Weidman held roles at Thoratec Corporation.
He holds an MBA in health care management from the Wharton School at the University of Pennsylvania, a master’s degree in mechanical engineering from Stanford University, and a bachelor’s degree in mechanical engineering from the University of Michigan.
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