Boston Scientific (NYSE:BSX) yesterday revealed that co-founder and chairman Peter Nicholas plans to step down from the board in 2017.
Nicholas, who led the company for 20 years as CEO, founded Boston Scientific with John Abele in 1979.
Boston Scientific said Nicholas turned in his notice Dec. 30, 2014 to "facilitate an orderly transition of his responsibilities."
Abele resigned from the Marlborough, Mass.-based company in 2011.
Nicholas expects to retire from the board in 2017 and not stand for reelection at the company’s annual shareholders meeting that year, according to a regulatory filing.