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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
07/21/201616:06:14Statement of Changes in Beneficial Ownership (4)
07/20/201616:31:30Statement of Changes in Beneficial Ownership (4)
07/20/201616:30:38Statement of Changes in Beneficial Ownership (4)
07/20/201607:52:59Initial Statement of Beneficial Ownership (3)
07/20/201606:33:02Current Report Filing (8-k)
07/13/201607:14:16Current Report Filing (8-k)
07/13/201607:00:00Boston Scientific Elects Yoshiaki Fujimori to Board of Directors
07/06/201616:23:16Statement of Changes in Beneficial Ownership (4)
07/06/201616:19:47Initial Statement of Beneficial Ownership (3)
07/05/201616:11:18Statement of Changes in Beneficial Ownership (4)
07/05/201616:11:18Statement of Changes in Beneficial Ownership (4)
07/01/201608:30:00Boston Scientific To Webcast Conference Call Discussing Second...
06/28/201616:18:02Annual Report of Employee Stock Plans (11-k)
06/14/201608:30:00National Institute for Health and Care Excellence Provides Positive...
06/09/201606:02:44Current Report Filing (8-k)
06/08/201619:30:00Boston Scientific to Restructure Operations
06/08/201618:30:00Boston Scientific Announces Restructuring Program to Support...
06/03/201608:00:09Statement of Changes in Beneficial Ownership (4)
06/03/201607:59:42Statement of Changes in Beneficial Ownership (4)
06/03/201607:58:47Statement of Changes in Beneficial Ownership (4)

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