Boston Scientific Taps New CEO

Natick, Mass-based Boston Scientific Corp. has announced that Jim Tobin will retire from the position of president and CEO, effective July 13, 2009. The company’s board of directors has also announced that it has appointed Ray Elliott as the new president and CEO. Elliott, 59, has more than 35 years of experience leading health care and consumer products companies. He led the orthopedics company Zimmer Holdings Inc. for 10 years, joining the company as president and rising to become chairman, president and CEO. Prior to joining Zimmer, he served as president and CEO of Cybex International Inc., a medical rehabilitation and cardiovascular products company. He has also served as president and chairman of various divisions of Southam Inc., a communications group, and as group president of the food and beverage company John Labatt Ltd. He began his career in the health care industry with American Hospital Supply Corp. - now Baxter International Inc. - where he served for 15 years in sales, marketing, operations, business development and general management positions, leading to his appointment as president of all the Far East divisions, based in Tokyo. He has also served on a number of boards, including AdvaMed, where he was chair of its orthopedics sector. He was a member of the Boston Scientific board of directors from 2007 until earlier this year. In addition to serving as president and CEO of Boston Scientific, he will rejoin the board.