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Boston Scientific CEO Kucheman's 2011 Total Pay Rose 47% To $4.7 Million

By Anjali Athavaley Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Boston Scientific Corp. (BSX) Chief Executive William H. Kucheman's total pay jumped 47% to $4.7 million last year after he was named interim head of the Natick, Mass., medical-device maker. President Michael F. Mahoney, Kucheman's eventual replacement, received total compensation valued at $11.7 million last year, according to a filing Thursday with the Securities & Exchange Commission. Last fall, the company named Mahoney, previously the world-wide chairman of rival Johnson & Johnson's (JNJ) medical device and diagnostics group, as its new CEO in a complicated arrangement. Under the plan, Mahoney joined Boston Scientific as president in October and is expected to become CEO Nov. 1 this year. Kucheman, formerly president of the company's cardiology, rhythm and vascular group, is serving as interim CEO until then. Boston Scientific said in a regulatory filing last fall Mahoney would get an annual salary of $900,000 plus a sign-on bonus of $1.5 million and an additional bonus of $750,000 to be paid within 30 days following his promotion to president and CEO. He also would receive $9.5 million in deferred stock. As interim CEO, Kucheman would receive an annual salary of $900,000, the company has said. Shares were unchanged after-hours after closing up 3.5% at $5.93 Thursday. -By Anjali Athavaley, Dow Jones Newswires; 212-416-4912; anjali.athavaley@dowjones.com

Stock News for Boston Scientific (BSX)
DateTimeHeadline
03/24/201516:21:27Additional Proxy Soliciting Materials (definitive) (defa14a)
03/24/201516:19:15Proxy Statement (definitive) (def 14a)
03/24/201516:01:00Boston Scientific Announces First U.S. Commercial Procedures...
03/23/201519:46:25Significant Revenue Gains In Store For Boston Scientific
03/23/201516:06:44Statement of Changes in Beneficial Ownership (4)
03/23/201516:06:44Statement of Changes in Beneficial Ownership (4)
03/18/201519:15:18Boston's Watchman Approved In The US For Warfarin Refuseniks
03/17/201518:55:09Boston Sci's EMBLEM subcutaneous implantable defibrillator cleared...
03/17/201516:01:00Boston Scientific announces FDA and CE Mark Approval Of The EMBLEM⢠S...
03/16/201516:29:38Statement of Changes in Beneficial Ownership (4)
03/16/201509:54:34FDA approves Boston Sci's Watchman device
03/13/201518:54:00Boston Scientific Receives FDA Approval for WATCHMAN⢠Left A...
03/09/201516:04:55Statement of Changes in Beneficial Ownership (4)
03/06/201508:04:35J & J on the hook for $5.7M in California mesh trial
03/04/201516:19:40Statement of Changes in Beneficial Ownership (4)
03/04/201516:19:40Statement of Changes in Beneficial Ownership (4)
03/04/201516:19:39Statement of Changes in Beneficial Ownership (4)
03/04/201516:19:39Statement of Changes in Beneficial Ownership (4)
03/03/201517:37:15Statement of Changes in Beneficial Ownership (4)
03/03/201517:35:37Statement of Changes in Beneficial Ownership (4)

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