Boston Scientific switches CEOs, with a look away from cardiac devices
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"Ten years ago this month, I began my tenure as CEO of Boston Scientific, and two months from now, I will turn 65," said Tobin. "Now is an appropriate time for me to turn over the leadership of the company to Ray Elliott, our new CEO.... We will have a smooth transition, which will culminate with Ray taking over next month."
Elliott, 59, has approximately 35 years of experience in healthcare and consumer products companies, according to the Natick, Mass.-based company. He led the orthopedics company Zimmer Holdings for 10 years, joining the company as president and later became chairman, president and CEO. Previously, he served as president and CEO of Cybex International, a medical rehabilitation and cardiovascular products company. He has also served as president and chairman of various divisions of Southam, a communications group, and as group president of the food and beverage company John Labatt.
He began his career in the healthcare industry with American Hospital Supply -- now Baxter International -- 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.
Elliott informed the Wall Street Journal that he will look at diversifying Boston Scientific further outside its core in cardiac devices, citing urology and gynecology as possible expansion areas. He added that he was looking for growth outside heart devices and possibly some "small technology purchases."