Almeida named CEO at Covidien

Covidien said Jose Almeida will take over as president and CEO of the healthcare products company in July, following the retirement of Richard Meelia.

Covidien said Jose Almeida will take over as president and CEO of the healthcare products company in July, following the retirement of Richard Meelia.

Almeida previously led the medical device division for Covidien, which was previously known as Tyco Healthcare before it spun off from Tyco International in 2007.

Jon Kamp at The Wall Street Journal writes the medical device division, which accounts for two-thirds of the $10 billion company's sales, "became a clear focus as Covidien reshaped its portfolio through acquisitions and divestitures following the separation from Tyco."

In the last year, Hospira and Medtronic have also announced CEO changes.

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