Summary
Boston Scientific Corporation (BSX) has filed an 8-K report on March 11, 2021, primarily announcing a change in its Board of Directors. Stephen P. MacMillan has informed the company that he will not seek re-election at the upcoming 2021 Annual Meeting of Stockholders, scheduled for May 6, 2021. Mr. MacMillan has been a director since April 2015 and currently holds positions on the Executive Compensation and Human Resources Committee and the Nominating and Governance Committee. He will continue to serve in his current capacities until the Annual Meeting. This departure is noted as not being the result of any disagreement with the company. Following the 2021 Annual Meeting, the Board of Directors is expected to comprise nine members, subject to the reelection of existing directors. The Board and its Nominating and Governance Committee will continue to assess the optimal size and composition of the Board, including whether to add new directors after Mr. MacMillan's departure.
Key Highlights
- 1Stephen P. MacMillan will not stand for re-election to the Board of Directors at the 2021 Annual Meeting.
- 2Mr. MacMillan's decision is not due to any disagreement with Boston Scientific.
- 3Mr. MacMillan will continue to serve as a director and on his committees until the Annual Meeting on May 6, 2021.
- 4The Board of Directors is expected to consist of nine members following the 2021 Annual Meeting, subject to stockholder re-election.
- 5The Board and Nominating Committee will review the Board's size and composition post-departure.
- 6The filing includes standard exhibit information, specifically the Cover Page Interactive Data File in Inline XBRL format.