Boston Scientific Corporation's Elliott Outlines CEO Search Criteria
Published: Jun 23, 2011
"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.