Medtronic said on Tuesday it would add two new directors to its board and set up committees to help boost its lagging shares after activist investor Elliott Investment Management emerged as one of its largest shareholders.

Medtronic appoints two new board directors following talks with activist investor Elliott Investment Management.

Medtronic (NYSE:MDT) will add two new directors and establish additional committees after Elliott Investment Management emerged as one of its largest shareholders. The move was first reported by the Wall Street Journal.