Summary
Boston Scientific Corporation (BSX) filed an 8-K on April 26, 2006, reporting significant changes to its Board of Directors following the closing of its acquisition of Guidant Corporation on April 24, 2006. The company elected two new directors, Kristina M. Johnson, Ph.D., and Nancy-Ann DeParle, to its Board, effective immediately after the Guidant acquisition. Dr. Johnson brings academic leadership experience as the Dean of Engineering at Duke University, a related party due to Boston Scientific's business dealings with Duke University. Ms. DeParle adds expertise from her role as a Senior Advisor at JP Morgan Partners, LLC, though her affiliation with JP Morgan Securities Inc., which advised on the Guidant acquisition and BSX credit facilities, is noted due to past business relationships and payments. These appointments signal the integration of new perspectives and expertise as BSX solidifies its position post-acquisition.
Key Highlights
- 1Boston Scientific elected two new directors, Kristina M. Johnson, Ph.D. and Nancy-Ann DeParle, to its Board.
- 2The director appointments were effective upon the closing of the acquisition of Guidant Corporation on April 24, 2006.
- 3Dr. Johnson will serve on the Executive Compensation and Human Resources Committee and the Finance and Strategic Investment Committee.
- 4Ms. DeParle will serve on the Audit Committee and the Compliance and Quality Committee.
- 5Dr. Johnson is Dean of the Pratt School of Engineering at Duke University.
- 6Ms. DeParle is a Senior Advisor to JP Morgan Partners, LLC.
- 7The filing discloses potential related-party transactions involving JP Morgan entities due to Ms. DeParle's role and past financial advisory services provided to BSX and Guidant.