Paul has served in several positions since joining the Company in 1994. Most recently, he has served as Senior Vice President and Group President for Cardiovascular. He will now assume responsibility for all the Company's business units and worldwide commercial activities, with the exception of the recently acquired Advanced Bionics Corporation. Among his new responsibilities will be the Company's Endosurgery Group, which will continue to be managed by Steve Moreci, Senior Vice President and Group President for Endosurgery. Paul will also share responsibility for the Company's manufacturing activities, which will continue to report to Jim Taylor, Executive Vice President for Operations. In addition, Paul will share responsibility for research and development, which will continue to report to Fred Colen, Executive Vice President and Chief Technology Officer.
Several current Company executives have been promoted and named to the Executive Committee. They are:
As head of International, Jeff Goodman will oversee all business units and commercial activities outside the United States. The Company does business in approximately 100 countries, and International revenues in 2004 are expected to exceed $2 billion. Jeff joined the Company in 1999 and has served as President of Inter-Continental, which includes all countries outside the United States, Europe and Japan. During his tenure, Inter-Continental's revenues quintupled and profits increased dramatically.
Dr. Mary Russell's responsibilities will increase significantly. She will now oversee all preclinical, clinical and regulatory affairs for the Company. Previously, she served as Senior Vice President and Chief Medical Officer for Cardiovascular Clinical Sciences. In that capacity, she led the planning and execution of the clinical strategy that led to the approval of the Company's TAXUS™ Express2™ paclitaxel-eluting coronary stent system. In addition, she developed a Company-wide clinical infrastructure to support global trial requirements. Dr. Russell assumes responsibility for regulatory affairs from Dennis Ocwieja, who is retiring from the Company.
Jim Gilbert is joining the Company as a Senior Vice President and a member of the Executive Committee. He will be responsible for a broad portfolio, providing strategic support on key projects and growth initiatives. He will also manage Corporate E-Marketing, Corporate Marketing Science, Corporate Sales and National Accounts, and Reimbursement and Outcomes Planning. Jim is a veteran of 23 years at Bain and Company, where he served as a director and a partner, and was the managing partner of Bain's Global Healthcare Practice.
Hank Kucheman has been promoted to President of the Company's Interventional Cardiology business. Hank has been with the Company since 1990, and he most recently served as Senior Vice President for Cardiovascular and Corporate Marketing.
Several existing members of the Company's Executive Committee have been promoted. Their new titles are:
"Boston Scientific has enjoyed an extraordinary amount of growth and success over the past few years, due in large part to the management team I am recognizing with these promotions," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "These changes are designed to position the Company for future growth and sustained leadership over the long haul. All these people have proved themselves as talented and effective managers. I am confident their past achievements are solid indications of their future promise."
This press release contains forward-looking statements. The Company 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 affected by the Company's overall business strategy and other factors described in the Company's filings with the Securities and Exchange Commission.
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: www.bostonscientific.com.