MiniMed Group, Inc. (NASDAQ:MMED) announced Monday that Brett Wall, a class II director and member of the Nominating and Corporate Governance Committee, notified the board of his decision to resign, effective July 3, 2026. According to a statement in the company’s SEC filing, Mr. Wall’s resignation is not due to any disagreement with MiniMed’s management or board, but is related to his departure as Executive Vice President and President, Neuroscience Portfolio, of Medtronic plc, MiniMed’s parent company.
To fill the vacancy, the board has appointed Scott Cundy as a class II director, effective July 3, 2026. Mr. Cundy will also join the Nominating and Corporate Governance Committee and will serve until the company’s 2027 annual meeting of stockholders.
Mr. Cundy currently serves as Senior Vice President and Chief Quality, Development, and Innovation Officer at Medtronic. He leads Medtronic’s Global Quality, Product Development, and Innovation functions and is a member of the Medtronic Executive Committee. He also oversees the Medtronic Engineering and Innovation Center. Before joining Medtronic in 2023, Mr. Cundy was Vice President of Quality, Regulatory, and Clinical Affairs Diagnostics and Life Sciences Platforms at Danaher Corporation. He holds a B.S. in Industrial Engineering from Georgia Institute of Technology and an MBA from the University of Minnesota’s Carlson School of Management.
The company stated that Mr. Cundy does not have a material interest in any transaction requiring disclosure under Item 404(a) of Regulation S-K, and there is no arrangement or understanding pursuant to which he was selected as a director. As long as Medtronic remains an affiliate of MiniMed, Mr. Cundy, as an employee of Medtronic, will not receive compensation for his service on the board. If this status changes, his compensation will align with that of other non-employee directors, as described in MiniMed’s March 9, 2026, filing.
This information is based on a statement in MiniMed Group’s recent SEC filing.
In other recent news, MiniMed Group has received attention from multiple analysts, highlighting various aspects of its business and potential growth. Goldman Sachs initiated coverage with a Buy rating, setting a price target of $24.00, citing the market’s underestimation of the company’s current performance and future outlook. William Blair also initiated coverage with an Outperform rating, noting MiniMed’s improved product development and robust pipeline. Evercore ISI echoed this sentiment with an Outperform rating and a $20.00 price target, expecting the company to achieve high single-digit top-line growth under new management.
BTIG reiterated its Buy rating and set a $25.00 price target, emphasizing MiniMed’s unique position as the only full-stack provider in the diabetes technology industry. Mizuho also initiated coverage with an Outperform rating and a $21.00 price target, highlighting the growth potential of the $18 billion diabetes market. These recent developments reflect a positive outlook from analysts on MiniMed Group’s potential in the diabetes technology space.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.