Jim Tobin Retires from Boston Scientific

Jim Tobin recently announced his retire from Boston Scientific effective on July 13th. Tobin, who had been the President and CEO of the company for a decade, will be replaced by Ray Elliott.

Said Tobin: “Ten years ago this month, I began my tenure as CEO of Boston Scientific, and two months from now, I will turn 65. Over the course of the past decade, we have built a stronger, more diversified company that is well positioned for the future. We have achieved this due largely to the support of our employees, customers and investors, and I would like to take this opportunity to thank them. Now is an appropriate time for me to turn over the leadership of the Company to Ray Elliott, our new CEO. Ray is an outstanding choice, and he has my full and enthusiastic support. We will have a smooth transition, which will culminate with Ray taking over next month.”

Elliott is the former President and CEO of Zimmer Holdings. He has in excess of 35 years of experience in the consumer products and health care fields. He joined Boston Scientific’s board of directors in 2007.

Said Elliott: “I look forward to leading the Boston Scientific team and building on the impressive tradition of delivering innovative medical solutions to patients and physicians. I am committed, as always, to creating value for them, our employees and our shareholders.”

Boston Scientific is a global company that manufactures and develops various medical devices. Founded in 1979 and headquartered in Natick, Massachusetts, the company is believed to have approximately 29,000 employees.

Boston Scientific (Image: Flickr)