Covidien plc (NYSE: COV) has announced that Richard J. Meelia will retire as President and CEO of the company, effective July 1. The life sciences company, with U.S. headquarters in Mansfield, said Jose (Joe) E. Almeida president of Covidien’s Medical Devices business segment, will become the new CEO. Meelia will serve as non-executive chairman of the board for up to one year following his retirement as CEO.
“Rich Meelia has been a strong and highly effective leader, and his service as CEO is deeply appreciated,” board member Timothy M. Donahue said in a statement. “Under his leadership, Covidien has introduced a record number of innovative new products, realigned and strengthened its portfolio, significantly reduced costs, developed a deep bench of management talent and created increased value for shareholders.