Michael Mahoney, chairman of Johnson & Johnson's medical device and diagnostics business, will become the new president of Boston Scientific on Oct. 17, with plans for him to take over the CEO post next year, according to a Boston Scientific news release.
The delay accommodates Mr. Mahoney's post-employment obligations with J&J. He replaces Boston Scientific CEO Ray Elliott, who announced in May that he intended to step down.
Hank Kucheman, currently the executive vice president and group president of the cardiology, rhythm and vascular group at Boston Scientific, will serve as interim CEO until Mr. Mahoney can assume the role full time in fall 2012.
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