- Boston Scientific Corp. is somehow still being driven by James Tobin and we cannot figure out how nor why. Tobin has led the destruction shareholder value before, and this year’s antics have only added to more destruction of the company’s future.
The full explanation and complaint list about why he should go is here in more detail, and that was posted on December 5, 2008.
He will “retire” from the Company, and that its board of directors has appointed Ray Elliott the new President and CEO, effective July 13. If the board didn’t push Tobin into retirement, it is doubtful that the board’s individual members are too unhappy that he is out.
So far we have shares lower by 0.1% on very thin volume. This is one of those CEO departures that is good for shareholders.
Jon C. Ogg
June 25, 2009
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