Sector News

Boston Scientific Chairman and Co-Founder to retire

February 25, 2016
Life sciences

Boston Scientific Corp. said its co-founder and chairman, Pete M. Nicholas, would retire this May, capping a nearly 40 year career the medical device maker.

The company also announced several other changes to its board on Thursday, including the appointment of its chief executive, Michael F. Mahoney, to also serve as chairman upon Mr. Nicholas’ retirement.

Mr. Nicholas had previously served as Boston Scientific’s CEO and co-chairman of the board since its founding in 1979. In 1995, he stepped down as CEO and became its chairman.

“Under Pete’s leadership, Boston Scientific has become a leading global health care corporation serving 22 million patients each year, and we are deeply indebted for his decades of service and love of the company,” Mr. Mahoney said.

Mr. Nicholas also praised Mr. Mahoney and expressed confidence in his expanded role as chairman.

The moves will be effective in May following the company’s annual meeting of stockholders. At that time, current director Edward J. Ludwig, former CEO and chairman of rival Becton Dickinson Co., will serve as lead independent director.

In addition, current directors Ernest Mario and N.J. Nicholas, Jr. have decided to retire from the board in May, the company said. N.J. Nicholas, brother of Pete Nicholas, joined the board in 1994. Dr. Mario joined the board in 2001.

Boston Scientific said it had named Ellen M. Zane as a new director, effective April 15. Ms. Zane had previously served as the CEO of Tufts Medical Center and the Floating Hospital for Children, network president of Partners HealthCare System and chair of the Massachusetts Hospital Association.

By Joshua Jamerson

Source: Wall Street Journal

comments closed

Related News

January 29, 2023

Colorcon, Inc. signs Put agreement with intent to acquire controlled atmosphere packaging specialist Airnov Healthcare Packaging

Life sciences

Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.

January 29, 2023

Takeda pledges up to $1.13B for rights to Hutchmed’s cancer drug fruquintinib outside of China

Life sciences

Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.

January 29, 2023

Vir taps Bayer dealmaker Marianne De Backer as its next CEO

Life sciences

On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.

How can we help you?

We're easy to reach