By JOANN S. LUBLIN and RACHEL LOUISE ENSIGN
Medtronic PLC has hired Karen L. Parkhill as its new chief financial officer, recruiting her from the same role at Comerica Inc.
Medtronic said Wednesday that Ms. Parkhill would fill the CFO post, after The Wall Street Journal reported Tuesday that Ms. Parkhill had been hired away. She will start in the role June 20.
Comerica, a Dallas-based financial-services company, disclosed Tuesday that Ms. Parkhill had resigned as its vice chairman and CFO “to pursue other opportunities.’’ She is 50 years old, according to Comerica’s latest proxy statement.
Ms. Parkhill will take over the top finance job from Gary Ellis, who helped orchestrate Medtronic’s recent acquisition of Covidien and has been its CFO since 2005. Mr. Ellis will retire from Medtronic, which sells medical devices and surgical tools, in 2017. He will remain on the company’s executive committee and help with the transition of the job to Ms. Parkhill. He will also “lead the other key functions within his portfolio of responsibilities until his retirement,” the company said.
