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July 13, 2016

Boston Scientific elects new director

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Marlborough medical device manufacturer Boston Scientific Corp. has elected long-time Japanese manufacturing executive Yoshiaki Fujimori to its board of directors.

Fujimori is an adviser and former president and CEO of the LIXIL Group Corp. in Japan, and an external director of both Tokyo Electric Power Co. and Takeda Pharmaceutical Co. Ltd. Before he joined LIXIL, he held various positions at GE, including president and CEO of GE Japan, according to a press release. At GE, he also served as senior vice president and CEO of several Asian and global business divisions, including medical systems, plastics and capital. To add him to the board, the board of directors increased the number of directors from 10 to 11, according to a U.S. Securities and Exchange Commission filing.

Fujimori will receive standard non-employee director compensation, including a cash retainer of $73,019 and an equity award valued at $150,094 vesting at the end of his term, according to SEC filings.

Boston Scientific is in the midst of a restructuring that the company said could save it $150 million per year, although it indicated layoffs would be possible as it refocuses.

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