Name: Joseph Fitzgerald
New title: Chief operating officer, Boston Scientific
Previous title: Cardiovascular group president, Boston Scientific
Boston Scientific said Wednesday that it will promote Joseph Fitzgerald to chief operating officer at the start of next year.
Fitzgerald will oversee the company’s global operations, business units and regions. In connection with the appointment, Boston Scientific will establish three reportable segments, each with its own leader who will report to Fitzgerald.
Lance Bates will lead the “Interventional Therapies” segment. Boston Scientific will include Penumbra, the blood-clot removal company it is buying for $14.5 billion, in Bates’ segment. The executive’s current title is president of interventional therapies at Boston Scientific.
Nick Spadea-Anello will oversee the “Rhythm Solutions” segment. Spadea-Anello is currently president of atrial fibrillation solutions at Boston Scientific. Stephen Morse, currently president of Asia Pacific at Boston Scientific, will lead the “MedSurg” segment.
Boston Scientific CEO Mike Mahoney outlined the rationale for the move to three reportable segments.
“These changes reflect the scale and breadth of our business today and the opportunities ahead,” Mahoney said in a statement. “The new operating model will create greater capacity to focus on our long-term growth priorities while enabling our businesses to move faster and remain close to our customers and their patients.”
The changes follow a period in which Boston Scientific cut its sales guidance two quarters in a row, began a restructuring that could cost up to $800 million and experienced a cyberattack that disrupted its ability to make devices and process orders.
