Medtronic plc Board of Directors Quality & Technology Committee Charter
(As amended through January 26, 2015)
The Quality and Technology Committee provides assistance to the Board of Directors of Medtronic plc (the "Company") in its oversight of (1) product quality and safety; (2) scientific and technical direction; and (3) human and animal studies.
The Quality and Technology Committee shall consist of at least three directors. The Board shall designate one member as Chairman or delegate authority to designate a Chairman to the Committee.
Duties and Responsibilities
On behalf of the Board, the Committee shall, among its duties and responsibilities:
- Oversee risk management in the area of product quality and safety, including:
- Review of the Company’s overall quality strategy and processes in place to monitor and control product quality and safety;
- Periodic review of results of product quality and quality system assessments by Medtronic and external regulators (including FDA and various notified bodies); and
- Review of important product quality issues and field actions.
- Oversee the innovation strategy of the Company, including:
- Assessment for portfolio competitive superiority and disruptive technology impacts,
- Approach to new market creation,
- Monitor overall effectiveness of research and development;
- Periodic targeted review of the IP strategy and portfolio; and
- Technology evaluation of potential acquisitions for alignment with corporate strategy.
- Assess and evaluate the economic value proposition of new and existing products.
- Oversee risk management in the area of human and animal studies, including the periodic review of policies and procedures related to the conduct of human and animal studies.
- Review this Charter annually and recommend any changes to the Board for approval.
- Review the Quality and Technology Committee’s own performance annually.