May 9, 2014 by Brad Perriello
CareFusion said it named Supratim Bose, an executive at Boston Scientific (NYSE:BSX) who spent 30 years at Johnson & Johnson, to its board of directors.
Bose has been president of Asia-Pacific, Middle East and Africa for Boston Scientific since January 2013. The 30-year veteran of Johnson & Johnson was chairman of J&J’s medical devices & diagnostics business throughout Asia-Pacific, where he pioneered its entry in all emerging markets in Asia, including China, India, and Vietnam. Read more
May 7, 2014 by Brad Perriello
The former vice president for clinical & regulatory affairs at Wright Medical, who left under a cloud in 2011, is suing her former employer in a bid to win severance pay.
Alicia Napoli was part of a purge of Wright executives in April and May of that year that saw then-CEO Gary Henley abruptly resign and then-CTO Frank Bono fired. Napoli, senior vice president, general counsel and secretary Raymond Kolls and senior vice president for EMEA commercial operations Cary Hagan left a month later. Read more
May 8, 2014 by Brad Perriello
Medical device companies are shifting the way they pay their CEOs, moving away from equity-based awards toward compensation pegged to financial metrics that are more aligned with shareholders’ interests, according to a report from Morgan Stanley.
Yet many companies – 40% of Morgan Stanley’s coverage universe – still use earnings per share as a part of their short-term incentive programs, even though short-term EPS metrics aren’t correlated to total shareholder return, according to the report. Only 15% of the companies the investment house reviewed – Baxter, Becton, Dickinson & Co. and Medtronic – used return on invested capital as a metric “and most underweight the metric,” the Morgan Stanley analysts wrote. Read more
May 13, 2014 by Brad Perriello
Medtronic said today that it named a former GE Healthcare executive, Hooman Hakami, as president of its global diabetes group.
Hakami was president & CEO of GE Healthcare’s $2 billion detection & guidance systems business and led its interventional systems business from 2009 to 2012, according to a press release. Medtronic’s diabetes business put up $1.53 billion in revenues during its last fiscal year ending April 26, 2013. Read more