Boston Scientific Names New Leader
Natick-based medical device manufacturer Boston Scientific has tapped an executive from competitor Johnson & Johnson to be the company's next president and CEO.
Michael Mahoney, worldwide chairman of the medical device and diagnostics group for Johnson & Johnson, will join Boston Scientific in mid-October as president and will assume the CEO position in November, 2012.
He will replace Ray Elliott, who announced earlier this year he would step down from the company's top position.
After Elliott's departure in October, Hank Kucheman, currently the executive vice president and group president of the cardiology, rhythm and vascular group, will take over as interim CEO until Mahoney assumes the full-time position a year later.
Elliott will remain on the company's board of directors.
Mahoney, who has been with Johnson and Johnson since January 2007, served as worldwide company group chairman of the DePuy franchise, a leading global orthopedics and neuro-sciences business within J&J, from 2007 to 2010. He was promoted to worldwide chairman of the medical device and diagnostics group at J&J this year. Prior to that, he served as president and CEO of Global Healthcare Exchange, a leading provider of health care supply chain solutions and services, from 2001 to 2006.
Boston Scientific and Johnson & Johnson have recently been involved in patent disputes. In February, Boston Scientific agreed to pay $1.7 billion to Johnson & Johnson to settle three patent cases.
Correction: An original version of this article incorrectly noted how long Mahoney had been at Johnson & Johnson.
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