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The 2007 Wharton Economic Summit ::
Keynote Speakers
Art Collins
Art Collins assumed the role of chief executive officer of Medtronic, Inc. in April, 2001 and became chairman of the board in April, 2002. He was elected chief operating officer and member of the Board of Directors in 1994 and President in 1996. He joined the company in 1992 as corporate executive vice president and president of Medtronic International with responsibility for all Medtronic operations outside the United States.
Medtronic is the largest medical technology company in the world with revenues annualizing over $12 billion in the most recent fiscal year. Doing business in more than 120 countries, Medtronic's employment currently exceeds 37,000. In addition to having one of the most impressive records of sustained, superior financial performance, Medtronic is continually cited as one of the most admired companies in industry and has been singled out for its strong corporate governance and commitment to philanthropy and community involvement. It is interesting to note that the most important statistic tracked within the company is not found on the balance sheet or the income statement - it is that every five seconds someone, somewhere in the world receives a Medtronic product that either significantly improves or saves their life.
Mr. Collins joined Medtronic from Abbott Laboratories where he had been corporate vice president with responsibility for Abbott's worldwide diagnostic business units since 1986. He began his 14-year career with Abbott in 1978 as manager of Corporate Planning and Development and moved to the Diagnostics Division a year later where he subsequently held a number of general management positions in the United States and Europe. He was elected a corporate officer in 1989.
Before joining Abbott, Mr. Collins served as a naval officer from 1969 to 1973. After completing Officers Candidate School as a Distinguished Naval Graduate, he served as an officer on board a destroyer and was qualified as Officer of the Deck. He was honorably discharged with the rank of Full Lieutenant. From 1974 to 1978, Mr. Collins was a consultant with Booz, Allen & Hamilton in Chicago. While at Booz, Allen, he conducted major assignments in the areas of business strategy development, marketing, organization planning, financial analysis, and financial systems design.
Mr. Collins received a Bachelor of Science degree in Business Administration and a Doctor of Laws honorary degree from Miami University in Oxford, Ohio. Mr. Collins also holds a Master of Business Administration Degree from the Wharton School of the University of Pennsylvania where he was a member of the undergraduate faculty.
Mr. Collins serves on the Board of Directors of U.S. Bancorp, The Boeing Company and Cargill, Inc. He is a member of the Board of Overseers of the Wharton School at the University of Pennsylvania and a member of the Board of The Institute of Health Technology Studies. He also was the previous Chairman of AdvaMed, the medical technology industry association, and has served on the boards of numerous civic organizations. Mr. Collins remains active in a number of community and volunteer activities, and he was recently named to the Department of Commerce Advisory Panel on Measuring Innovation.
Born in 1947 in Lakewood, Ohio, Mr. Collins and his wife have two grown daughters. He and his wife currently reside in Minneapolis, Minnesota.
