mike mahoney boston scientific salary

Boston Scientific said Thursday that it’s cutting wages for many of its roughly 36,000 global employees by 20 percent for the next 90 days because the postponement of elective surgeries during the coronavirus pandemic has decreased revenue. Boston Scientific is one of the biggest companies in Massachusetts, with a market value of about $42 billion. As a result of the downturn, Mahoney plans to forgo his base salary for up to six months, other than payments needed to retain his benefits, as of April 13, according to an SEC filing. In December, the Food and Drug Administration approved the firm’s new single-use duodenoscope, the first disposable scope to gain clearance. Boston Scientific is hardly the only medical device maker hurt by the cancellation of elective surgeries. Boston Scientific has about 17,000 workers in the United States, including nearly 3,000 in Massachusetts. Starting in a couple of weeks, Boston Scientific plans to put most of its full-time US workers who aren’t involved in sales or manufacturing on a four-day work week for 90 days, with a corresponding reduction in base salary. On average, Michael trades about 73,957 units every 42 days since 2011. In addition, he makes $15,764,100 as Chairman of the Board, President, and Chief Executive Officer at Boston Scientific. “As health care systems respond to the increasing demands of managing COVID-19, emergent procedures need to be prioritized to help enable increased hospital capacity, and therefore elective procedures are being delayed," Mahoney said Thursday. The MedSurg segment focuses on Endoscopy, which provides devices to diagnose and treat a broad range of gastrointestinal and pulmonary conditions with innovative and invasive technologies. Ventilators and PPE have been in short supply at hospitals during the epidemic. In 2018, five executives at Boston Scientific received on average a compensation package of $5.4M, a 3% decrease compared to previous year. Boston Scientific said Thursday that it’s cutting wages for many of its roughly 36,000 global employees by 20 percent for the next 90 days because the postponement of elective surgeries during the coronavirus pandemic has decreased revenue. Many of those procedures use the company’s products, from coronary stents to endoscopic devices. The company’s board of directors decided Wednesday that each director’s annual cash retainer will be halved for the year, according to the filing. The Marlborough-based medical device maker also plans to make deeper cuts to the base salaries of its chief executive, Mike Mahoney, and those of its board of directors and executive committee. The company’s stock ended the day Thursday at $31.05, up 2.9 percent. In a filing Monday with the Securities and Exchange Commission, the company said business was down because doctors domestically and abroad are postponing elective surgeries and procedures during the epidemic. Boston Scientific (NYSE: BSX) said in a federal filing Tuesday that CEO Mike Mahoney had earned $12 million in compensation and also realized $23.7 … Last year, a Boston Scientific executive who oversees endoscopy said the device and others being developed by rival companies had the potential to generate $1 billion in sales. The estimated Net Worth of Michael F Mahoney is at least $132 Million dollars as of 28 February 2020. The Cardiovascular segment comprises of technologies or diagnosing and treating coronary artery disease and other cardiovascular disorders including structural heart conditions. Michael Mahoney: Boston Scientific's highest-paid employee worked 76 days and made nearly $12 million. Mr. Mahoney began his career at General Electric Medical Systems, where he spent 12 years, culminating in the role of General Manager of the Healthcare Information Technology business. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. You can see the complete history of Mr. Mahoney stock trades at the bottom of the page. The company’s board of directors decided Wednesday that each director’s annual cash retainer will be halved for the year, according to the filing. He joined the Company as our President in October 2011, and became our President and Chief Executive Officer and a director in November 2012. The company was founded by John E. Abele and Pete Michael Nicholas on June 29, 1979 and is headquartered in Marlborough, MA. The chief financial officer, president of interventional cardiology, president of heart rhythm management, and executive vice president of operations are taking a 50 percent cut in base salary for up to six months, the filing said. On average, Boston Scientific executives and independent directors trade stock every 3 days with the average trade being worth of $2,855,586. As of 28 February 2020 he still owns at least 2,227,941 units of Boston Scientific stock. Covid-19 is killing restaurants. Founded 40 years ago, it makes dozens of products used by physicians in a wide range of medical specialties, from gynecology to neurology to orthopedics. His overall compensation totaled over $15.7 million, including stock and option awards. Boston Scientific predicted that the impact of COVID-19 will be worse in the second quarter. Prior to assuming this position, Mr. Mahoney served as Worldwide Group Chairman of Johnson & Johnson's DePuy franchise, an orthopedics and neurosciences business, from April 2007 through January 2011. . Boston Scientific executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. His overall compensation totaled over $15.7 million, including stock and option awards. There are no executives at Boston Scientific getting paid more. Boston Scientific predicted that the impact of COVID-19 will be worse in the second quarter. On Tuesday, Kalamazoo, Mich.-based Stryker said in an SEC filing that the health crisis had had a “significant economic impact” but did not provide specifics. Michael has made over 47 trades of the Boston Scientific stock since 2012, according to the Form 4 filled with the SEC. Mr. Mahoney owns over 18,330 units of Boston Scientific stock worth over $91,657,493 and over the last 9 years he sold BSX stock worth over $24,448,562. A free inside look at Boston Scientific salary trends based on 2,721 salaries wages for 903 jobs at Boston Scientific. Over the last 15 years, insiders at Boston Scientific have traded over $780,704,586 worth of Boston Scientific stock and bought 1,373,972 units worth $15,182,039 The Marlborough-based medical device maker also plans to make deeper cuts to the base salaries of its chief executive, Mike Mahoney, and those of its board of directors and executive committee. Dozens of Massachusetts businesses have announced layoffs and furloughs as a result of COVID-19 recently, particularly in the hospitality industry. Like us on Facebook to see similar stories. Last year, a Boston Scientific executive who oversees endoscopy said the device and others being developed by rival companies had the potential to generate $1 billion in sales. In December, the Food and Drug Administration approved the firm’s new single-use duodenoscope, the first disposable scope to gain clearance. As the Chairman of the Board, President, and Chief Executive Officer of Boston Scientific, the total compensation of Michael Mahoney at Boston Scientific is $15,764,100. Michael F. Mahoney serves as Chairman of the Board, President, Chief Executive Officer of the Company. Mike Mahoney is Chairman/President/CEO at Boston Scientific Corp. See Mike Mahoney's compensation, career history, education, & memberships. Hours for part-time employees will be maintained at a level to preserve benefits. Boston Scientific is hardly the only medical device maker hurt by the cancellation of elective surgeries. Jonathan Saltzman can be reached at jonathan.saltzman@globe.com. In a filing Monday with the Securities and Exchange Commission, the company said business was down because doctors domestically and abroad are postponing elective surgeries and procedures during the epidemic. Mr. Mahoney became our Chairman of the Board in May 2016. Prior to embarking on his career, Michael Mahoney attended college at the University of Iowa and he earned a BBA in Finance. Founded 40 years ago, it makes dozens of products used by physicians in a wide range of medical specialties, from gynecology to neurology to orthopedics. Boston Scientific has about 17,000 workers in the United States, including nearly 3,000 in Massachusetts. A spokeswoman declined to say what will happen to Boston Scientific’s 19,000 overseas employees as part its “mitigation plans” or specify the number of workers overall whose pay will be reduced. Hours for part-time employees will be maintained at a level to preserve benefits. Average pay of disclosed executives at Boston Scientific Michael F. Mahoney , Chief Executive Officer, received $14M in total, which increased by 7% compared to 2017. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities. In recent years, Boston Scientific has drawn praise for its efforts to diversify its workforce and to post its progress on its website. Last year, the company reported that more than 51 percent of new hires globally were women, and more than 42 percent of new hires in the United States were people of color. It’s intended to eliminate life-threatening infections associated with non-disposable scopes, which the FDA says are hard to sterilize. On Tuesday, Kalamazoo, Mich.-based Stryker said in an SEC filing that the health crisis had had a “significant economic impact” but did not provide specifics. The most active insiders traders include Peter M Nicholas, John E Abele, and Michael F Mahoney. Boston Scientific has about 17,000 workers in the United States, including nearly 3,000 in Massachusetts. From January 2001 through March 2007, Mr. Mahoney served as President and Chief Executive Officer of Global Healthcare Exchange, a provider of supply chain solutions and services that brings together hospitals, manufacturers, distributors and group purchasing organizations.

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