NATICK, Mass., Jan. 5 /PRNewswire-FirstCall/ -- Boston Scientific Corporation announced today that President and Chief Executive Officer Jim Tobin has agreed to a request from the Board of Directors to extend his tenure at the Company. The Company said that Tobin plans to remain in his role for the foreseeable future.
"This understanding reflects our mutual desire for Jim to continue leading Boston Scientific," said Warren B. Rudman, Director and Chairman of the Executive Compensation and Human Resources Committee of the Board of Directors. "I know I speak for all the members of the Boston Scientific Board of Directors when I say how pleased we have been with Jim's leadership and how gratified we are that he has agreed to extend his tenure as President and CEO. Jim has presided over a period of exceptional growth, accomplishment and success. He has brought to bear his considerable talents to position Boston Scientific as one of the world's pre-eminent medical companies. However, the Company aspires to further advance the interests of customers, patients and shareholders, and Jim is clearly the leader who can best help us achieve these aspirations. We are extremely fortunate to have someone like Jim leading our Company, and the Board is highly enthusiastic about the Company's prospects under his ongoing leadership."
"For me, this is a logical continuation of a journey Pete Nicholas and I began nearly seven years ago," said Tobin. "During that time we have completed much of the work we envisioned, but much remains to be done. I am proud to be associated with such an outstanding Company and the countless dedicated individuals who comprise it. Every day we are helping to improve life through medical technology, and I'm grateful for the opportunity to contribute to that effort. I appreciate the Board's expression of confidence, and I look forward to continuing to work with Pete, the Board and the entire Boston Scientific family to advance our shared objectives."
"From the beginning, Jim and I have believed in the potential of Boston Scientific to be a global enterprise that redefines medical treatment," said Boston Scientific Chairman Pete Nicholas. "Together we have made enormous strides toward realizing that potential, and in many instances, we have achieved it. Yet neither of us is sufficiently satisfied to stop now. I am every bit as excited and energized about our partnership as I was when I first asked Jim to join the Company. I would like to recognize Jim's leadership and contributions, and say that I look forward to working with him in the coming years to build on the progress we have made."
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com.
This press release contains forward-looking statements. Boston Scientific wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, competitive offerings, integration of acquired companies, Boston Scientific's overall business strategy, and other factors described in Boston Scientific's filings with the Securities and Exchange Commission.
CONTACT: Milan Kofol 508-650-8569 Investor Relations Boston Scientific Corporation Paul Donovan 508-650-8541 Media Relations Boston Scientific Corporation Boston Scientific Corporation
CONTACT: Milan Kofol, Investor Relations, +1-508-650-8569, or PaulDonovan, Media Relations, +1-508-650-8541, both of Boston ScientificCorporation
Web site: http://www.bostonscientific.com//
