Boston Scientific announces retirement of chairman

Boston Scientific is making a number of changes to the leadership and membership of its board of directors, with chairman Pete Nicholas to retire.

Mr Nicholas, the company's co-founder, will be stepping down from the board following its annual meeting of stockholders in May. He headed Boston Scientific from its founding in 1979 to 1995, when he stepped down as chief executive.

President and chief executive Michael Mahoney will take over as chairman, while current director Edward Ludwig is set to become lead independent director. Both appointments also take effect after the annual general meeting.

Mr Nicholas said the change "will further enhance the ability of Boston Scientific to continue to serve patients and strengthen its high performance both as an innovator and leader".

It was also announced that current directors Dr Ernest Mario and Nick Nicholas will be retiring in May, with Ellen Zane – who has experience of leading the Tufts Medical Center and the Floating Hospital for Children – will join the board.