2012 pay: $10.8 million
2011 pay: $11.8 million
Michael Mahoney spent much of 2012 as only company president, having been lured from Johnson & Johnson ($JNJ), where he was a long-time executive. In November 2012 he also assumed the CEO slot, replacing the retiring Hank Kucheman. Since then, he's picked up the baton in an ongoing effort to revamp Boston Scientific ($BSX) and restore the company to robust growth after years of declining revenue and crushing debt from its $26 billion Guidant acquisition several years back.
Part of that strategy has included continued acquisitions in a bid to diversify, such as Boston Scientific's $425 million buy of renal denervation outfit Vessix Vascular last November. Also ongoing: spending cuts and the shedding of lots of jobs, with another 900 to 1000 positions on the chopping block as of January 2013, on top of the 2011 decision to eliminate 1,400 positions and grow instead in emerging markets like China.
Mahoney's job is a challenging one, with plunging sales to reverse in interventional cardiology and cardiac rhythm management (though endoscopy and neuromodulation are among company bright spots). Mahoney's 2012 compensation included a $900,000 base salary, a $750,000 bonus, and more than $5.8 million in stock awards, plus an additional $1.7 million in options.
- read Boston Scientific's proxy statement (PDF)
Boston Scientific targets another 1,000 jobs in expanded restructuring
Boston Scientific CEO: It's 'a new era'
Mahoney takes the reins at Boston Sci