Boston Scientific Corp. (NYSE:BSX) COO Samuel Leno announced his retirement as executive VP and chief operating officer after three years with med-tech giant.
Leno made the announcement internally on Friday, Oct. 28, according to documents filed with the SEC.
Leno joined Boston Scientific in June 2007 as executive VP of finance and information systems and CFO. In March 2010, he was appointed executive VP and COO.
It’s the latest personnel shakeup in the C-level suites at Boston Scientific, where CEO Ray Elliott retired after the company elevated executive VP Harry Kucheman to interim CEO and named Michael Mahoney as Elliott’s ultimate successor once he’s clear of non-compete deals with former employer Johnson & Johnson (NYSE:JNJ).
During Leno’s tenure on the executive team, he found himself mired in the legal woes surrounding the company’s ill-fated Guidant Corp. acquisition – even though he joined the company after that ill-made acquisition. In the spring of 2010 Leno was named alongside other other BSX execs in a lawsuit alleging that they made calculated, falsely rosy statements about the Guidant cardiac rhythm management division in order to artificially boost stock prices. They and the firm beat the rap when a federal judge dismissed the suit in September, ruling that BSX seemed "diligent, rather than fraudulent or reckless" in its handling of the CRM disaster it inherited with the 2006 acquisition.
Leno plans to leave the company by the end of this year, according to the SEC filing.
BSX shares are so far unchanged by the news, and the company has yet to issue a formal press release.