Boston Scientific Corporation's Elliott Outlines CEO Search Criteria

Published: Jun 23, 2011

At an investor conference Wednesday morning, outgoing Boston Scientific Boston Scientific Follow this company (NYSE: BSX) CEO Ray Elliott said the company is looking for a new chief executive who will fall in line with the current management's vision for the company.

"We've done a horrendous amount of work trying to get this business turned around," Elliott said at Tuesday's Wells Fargo Securities Wells Fargo Securities Follow this company Healthcare Conference, according to a Bloomberg News transcript. "It's not represented in the stock price yet, I realize. But to have somebody come in and then blow that up, that's not doable."

In addition, Elliott said the Boston Scientific search committee is looking inside and outside company walls, and has a strong preference for a candidate from within the health care industry, although medical device experience would be beneficial. "putting more emphasis on international" experience.

"I think given the emerging markets and where the growth is, there's a big emphasis there," he said.

Elliott announced his departure last month, taking some analysts by surprise. The news sent the company's stock into a plunge. Shares in Boston Scientific have recovered some ground since then, and were trading Wednesday afternoon at $7.09, up 2.4 percent from Tuesday's close.

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