[Congressional Record (Bound Edition), Volume 147 (2001), Part 5]
[Senate]
[Page 6493]
[From the U.S. Government Publishing Office, www.gpo.gov]



       RETIREMENT OF BILL GEORGE AS CEO OF MEDTRONIC CORPORATION

 Mr. WELLSTONE. Mr. President, I rise today to praise Bill 
George, a constituent who is a valued member of the Minnesota community 
and a good friend, on the occasion of his retirement as CEO of 
Medtronic Corporation.
  The first comment I should make is that there is something very 
unique about Bill George and that uniqueness has translated into the 
way he has led Medtronic.
  Medtronic is one of the world's leading medical technology companies, 
providing lifelong solutions for people with chronic disease. Its 
preeminence is due in large part to the leadership of Bill George, its 
CEO since 1991. During his tenure, Bill George has transformed 
Medtronic into a company that employs 25,000 people in 120 countries, 
and has scientific, manufacturing, education, and sales facilities 
worldwide.
  The company has extended its core technological competencies so that 
they now make pacemakers and a whole host of devices for patients 
facing cardiac arrest and heart failure. The company also makes devices 
for patients dealing with spacticity associated with cerebral palsy, 
cancer and cancer pain, neurological disorders like Parkinsons, and 
women's health conditions like incontinence. Bill George's philosophy 
of excellence has led the company to seek those opportunities where it 
can excel. The products it has produced and the relief it has brought 
to patients testify to the success of Bill's philosophy.
  I am told that every three seconds, somewhere in the world, a 
Medtronic product is used to save or enhance someone's life.
  Bill George doesn't just think about his company and its future. He 
has a vision for the health care system in this country and has worked 
to align the company's goals with that vision. His vision of holistic, 
patient-centered care that is enabled by the technological leaps we are 
making today is reflected in the planning he has done for the future. 
Bill instituted Vision 2010 to focus Medtronic on the nexus of the 
rapid developments happening in medical technology, computer 
technology, drug therapy and gene therapy in order to develop even 
better, more advanced treatments for chronic diseases in the next 10 
years.
  During Bill's tenure, Medtronic has encouraged innovation by 
launching a ``Science and Technology Are Rewarding'' program, with $3 
million in grants. Under Bill George's leadership, the Medtronic 
Foundation has reached out to patient groups in unprecedented ways, 
giving $12 million in grants to non-profit organizations in communities 
worldwide last year. I want to single out the Patient Summit that the 
Medtronic Foundation sponsored in Washington, D.C. last year. I had the 
honor of speaking at that meeting, whose purpose was to encourage a 
dialogue between patients, policymakers, and advocacy groups about the 
role patients can play in directing their own health care.
  As a fellow Minnesotan, I've watched Bill's personal efforts in the 
community with much admiration. His service as chair of the board of 
the United Way of Minneapolis and vice chair of the board of the 
Minneapolis Institute of Arts, as well as his work on the boards of the 
American Red Cross and the Carnegie Endowment for International Peace 
show Bill's dedication and breadth of interests.
  Bill's lifestyle, his mission, and his vision are all reflected in 
the recognition Medtronic regularly receives. Fortune Magazine 
designated Medtronic as one of the ``Best Companies to Work for in 
America''. Industry Week's ranked it as one of the ``Best Managed 
Companies.'' Money magazine chose Medtronic as one of the ``Best 
Investments in 2000 and Beyond.'' Business Ethics recognized the 
company for its demonstrated leadership in ethics and social 
responsibility with its ``General Excellence in Ethics'' award.
  In his 10 years as CEO, Bill George has helped to expand Medtronic to 
an even higher plane as an organization that is dynamic, creative, and 
passionate about its mission of restoring people to full life and 
health.
  As the Senior Senator from Minnesota, I thank him for his dedication 
to his work, for his service to his community--and I don't mean just 
Minneapolis or Minnesota, but the whole international community in 
which he is engaged, and for his friendship. I wish him well as he 
continues his active life which not only will include chairing 
Medtronic's board and involvement in community service, but also 
writing and teaching.

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