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Boston Scientific founder & chairman Pete M. Nicholas to retire

Staff writer | Marlborough, Mass., USA | February 29, 2016
Pete M. NicholasFebruary 29, 2016, Marlborough, Mass., USA - Boston Scientific Corporation announced that Pete M. Nicholas, the company's co-founder and chairman, has announced that he will retire from the board at the 2016 AGM in May.
Mr. Nicholas has been Chairman of the Board since 1995. He has been a Director since 1979 and served as Chief Executive Officer from 1979 to March 1999 and Co-Chairman of the Board from 1979 to 1995.

Prior to joining Boston Scientific, Mr. Nicholas was corporate director of marketing and general manager of the Medical Products Division at Millipore Corporation, a medical device company, and served in various sales, marketing and general management positions at Eli Lilly and Company. He is currently Chairman Emeritus of the Board of Trustees of Duke University.

Mr. Nicholas served as an officer in the U.S. Navy, resigning his commission as lieutenant in 1966. He received a B.A. degree from Duke University, and an M.B.A. degree from The Wharton School of the University of Pennsylvania.

The board appointed the company's President and CEO, Michael F. Mahoney, to serve as chairman of the board upon Mr. Nicholas's retirement.

Mr. Mahoney became company's President, Chief Executive Officer and director in November 2012. He served as President of the Company from October 17, 2011 until assuming his current role.

Prior to joining the Company, Mr. Mahoney was Worldwide Chairman of the Medical Devices and Diagnostics division of Johnson & Johnson from January 2011 to September 2011.

Prior to assuming this position, he served as Worldwide Group Chairman of Johnson & Johnson's DePuy franchise, an orthopedics and neurosciences business, from April 2007 through January 2011.

From January 2001 through March 2007, Mr. Mahoney served as President and Chief Executive Officer of Global Healthcare Exchange (GHX). He began his career at General Electric Medical Systems, where he spent 12 years, culminating in the role of General Manager of the Healthcare Information Technology business.

Mr. Mahoney earned a B.B.A. in Finance from the University of Iowa and a M.B.A. from Wake Forest University.

Current director Edward J. Ludwig, former CEO and chairman of the board of Becton, Dickinson and Company, will serve as lead independent director.

Mr. Ludwig has been a director of Boston Scientific since March 2014. He is the former Chairman of the Board of Becton, Dickinson and Company (BDX), having served in that position from February 2002 through June 2012. He also served as BDX's Chief Executive Officer from January 2000 to September 2011 and as its President from May 1999 to December 2008.

Mr. Ludwig joined BDX as a Senior Financial Analyst in 1979.

Prior to joining BDX, he served as a senior auditor with Coopers and Lybrand (now PricewaterhouseCoopers) where he earned his CPA and as a financial and strategic analyst at Kidde. He serves as Lead Director on Aetna Inc.'s Board of Directors and chairs its Finance Committee and is a member of the Board of Directors of Xylem.

Mr. Ludwig serves as the non-executive Chairman of POCARED, a privately held firm in Israel. He is also a member of the Board of The Center for Higher Ambition Leadership.

Mr. Ludwig received a B.A. degree in economics and accounting from The College of the Holy Cross and a M.B.A. degree from Columbia University.

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