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Home Industry News Boston Scientific president and CEO to retire

Boston Scientific president and CEO to retire

17th May 2011

Boston Scientific has announced the imminent retirement of Ray Elliot, its president and chief executive officer (CEO).

Mr Elliot will step down from the top leadership role on December 31st 2011 following a career in healthcare spanning nearly 40 years.

His tenure in charge of Boston Scientific has been marked by considerable growth, having been credited with developing growth plans, streamlining the corporate structure, building a strong balance sheet and setting the firm up for sustainable future progress.

A special CEO search committee has now been established to identify potential successors to Mr Elliot, with a decision set to be reached before the end of the year.

Pete Nicholas, chairman of the board of Boston Scientific, said: "On behalf of the entire company and board of directors, I would like to thank Ray for his extraordinary leadership."

Last month, the company reported a first quarter sales figure of $1.93 billion (1.19 billion pounds) for 2011, which was at the high end of its guidance range.ADNFCR-8000103-ID-800546371-ADNFCR

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