Tobin, Tobin, he's our man. Or so says Boston Scientific. The device maker says chief executive Jim Tobin will be "extending his tenure," planning to stay with the company "for the foreseeable future." The only difference is that now, Tobin will be more focused on day-to-day operations; since the acquisition of Guidant in 2006, Tobin has been working to integrate the two companies. He'll have to be more operations-focused, we suppose; COO Paul LaViolette is retiring, and he won't be replaced.
The CEO announcement comes just days after a federal jury in Texas ruled that Boston Scientific infringed on three Medtronic patents covering stent technology. The company plans to argue its side of the case--using some defenses that weren't presented to the jury, for some reason--before a judge on July 31.