Boston Scientific (NYSE:BSX) shares are getting a boost today after the company said it has tapped a Johnson & Johnson (NYSE:JNJ) exec as next-in-line for its CEO job.
Michael Mahoney, chairman of the medical device and diagnostics group at J&J, will become president of Boston Scientific as of October 17.
He is expected to become chief executive officer on November 1, 2012, following a transition period to accommodate Mahoney's post-employment obligations to Johnson & Johnson.
Boston Scientific CEO Ray Elliott announced in May that he would step down as president and CEO.
In other people moves news, Patriot Coal (PCX) announced a realignment of its senior management.
The company said it is bringing in Bennett Hatfield as executive vice president and chief operating officer to oversee all of Patriot's mining and other operating activities.
The company has named Charles Ebetino to serve as senior vice president of global strategy and corporate development.
Both will report to CEO Richard Whiting.
Hatfield was previously CEO of International Coal, prior to the company's sale to Arch Coal (ACI). Hatfield also held positions at Arch Coal and Massey Energy, which was acquired by Alpha Natural Resources (ANR).
Ebetino has worked at Patriot Coal for a year, and was previously at Peabody Energy (NYSE:BTU) and American Electric Power (NYSE:AEP).
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