Summary
Boston Scientific Corporation (BSX) announced on June 27, 2023, a strategic expansion of its Board of Directors, increasing its size from ten to eleven members. The company has appointed two new directors, Jessica L. Mega, MD, MPH, and Susan E. Morano. This move is aimed at strengthening the board's expertise and governance as the company continues its growth trajectory in the medical technology sector. Dr. Mega and Ms. Morano will serve until the next annual stockholder meeting and have been assigned to key board committees: Dr. Mega will join the Executive Compensation and Human Resources Committee and the Risk Committee, while Ms. Morano will be part of the Audit Committee and the Nominating and Governance Committee. Both new directors will receive standard compensation for non-employee directors, including a prorated cash retainer and an equity award, reflecting their commitment and expected contributions to the company's strategic direction and oversight.
Key Highlights
- 1Boston Scientific has expanded its Board of Directors from 10 to 11 members.
- 2Jessica L. Mega, MD, MPH, and Susan E. Morano have been appointed as new directors.
- 3Dr. Mega will serve on the Executive Compensation and Human Resources Committee and the Risk Committee.
- 4Ms. Morano will serve on the Audit Committee and the Nominating and Governance Committee.
- 5New directors will receive prorated compensation, including a cash retainer of approximately $97,715 and an equity award valued at approximately $174,188.
- 6Appointments are effective as of June 27, 2023, and directors will serve until the next annual stockholder meeting.
- 7The company has entered into standard indemnification agreements with the new directors.