Boston Scientific’s new chief executive officer takes over

Boston Scientific's chief executive officer (CEO) transitional process has ended with the ascension of Michael Mahoney to the key leadership role.

Mr Mahoney, who has been with the company since October 2011, takes up the role of CEO and president this month, succeeding interim CEO William Kucheman, as well as becoming a member of the Boston Scientific board of directors.

Since joining the firm, the new CEO has overseen the company's cardiac rhythm management and endoscopy divisions, as well as playing key roles in several strategic initiatives, including the acquisition of Cameron Health.

Mr Kucheman will stay with the organisation as a prominent advisor and member of senior management for the rest of 2012, before assuming a consultancy role next year.

Pete Nicholas, chairman of the board and co-founder at Boston Scientific, said: "Mike's ability to foster a team culture focused on winning, his strategic global view and his passion for innovation have already begun to make a significant impact on the company."

This concludes a lengthy planned transition process following the retirement of former CEO Ray Elliott last year.