Boston Scientific co-founder Nicholas to retire

Courtesy Co-founder and chairman of the board Pete Nicholas will retire this May.

Write a Comment

A major milestone has come for Boston Scientific as co-founder and chairman of the board Pete Nicholas has announced he will retire at the company’s annual meeting in May amid further board member shifts.

Nicholas served as the Marlborough medical company’s chief executive officer and co-chairman of the board since its founding in 1979. In 1995, Nicholas stepped down as CEO and became the company’s chairman.

The board has appointed the company's president and CEO Michael Mahoney to serve as chairman of the board upon Nocholas' retirement. Current director Edward Ludwig will serve as lead independent director.

Nicholas said the company is in an excellent position under Mahoney’s leadership and is poised for continued growth.

"This transition is an exciting and forward-looking one for the entire company, and I know it will further enhance the ability of Boston Scientific to continue to serve patients and strengthen its high performance both as an innovator and leader," Nicholas said in a statement.

Additionally, current directors Ernest Mario and N.J. ("Nick") Nicholas, Jr. have also decided to retire from the board at the annual meeting. The board has also appointed Ellen M. Zane as a new director, effective on April 15. She has 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.