Medtronic’s New Legal Chief Got $11.7 Million After 3M Departure

Ivan Fong, the top lawyer at medical device company Medtronic Plc, had a pay package valued at more than $11.7 million in his first year on the job.

Fong joined Medtronic as executive vice president and general counsel in February after nearly a decade at 3M. His pay package includes a base salary, stock options and long-term incentives, Medtronic said in a Aug. 19 proxy statement.

Medtronic produces medical devices ranging from surgical tools to ventilators. Based in Dublin, Ireland, with US headquarters in Minneapolis, the company reported $1.49 billion in net income in the quarter ending April 29, up ...