In short
A couple of weeks ago, in our article entitled “Plenty for Mr Mahoney to get his teeth into”, we offered up a precis of Boston Scientific’s quarterly financials and the challenges for its inbound CEO. Now the day has come when Mr Mahoney takes the reigns, succeeding interim CEO William H. (Hank) Kucheman. Mahoney has also been appointed to the Boston Scientific Board of Directors.
Background
Mike Mahoney joined Boston Scientific as president in October 2011 and has for the past year, focused on the oversight of Cardiac Rhythm Management (CRM), Endoscopy (GI and Pulmonary), and numerous corporate functions following his departure from J&J where he held a number of senior global leadership roles. The transition period was designed to accommodate Mahoney’s post-employment obligations to his previous employer.
Since he joined Boston Scientific, Mahoney has been instrumental in leading the company’s business strategy in several important areas. Notable developments include key CRM regulatory approvals, the strategic acquisition of Cameron Health, Inc., reimbursement milestones for the Alair® Bronchial Thermoplasty System and an increased emphasis on global expansion.
New incumbent comments
“For the past year, I have worked with Boston Scientific colleagues all over the world and continue to be impressed by their commitment to innovation and dedication to developing medical devices that truly help transform patients’ lives,” said Mahoney, 47. “I appreciated the opportunity to work side-by-side with Hank, who provided strong leadership during the transition period. I am looking forward to leading this company for many years to come.”
Outgoing CEO comments
“While we have endured sometimes dramatic market shifts over the past few years, Boston Scientific continues to deliver encouraging results. It has been an absolute honor to lead the company as we began executing a dynamic business strategy focused on the future,” said Kucheman. “This was the second time in our careers I’ve had the opportunity to work closely with Mike, and I know that Boston Scientific has a leader who is ready to continue the company’s storied legacy of innovation.”
Source: Boston Scientific Corporation.
published: November 1, 2012 in: Boston Scientific, People