Boston Scientific taps Joseph M. Fitzgerald as 2027 COO
Fitzgerald’s 2027 terms include a $1,050,000 salary, a 110% annual bonus target and a $7,000,000 equity award.
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Form Type
8-K
Rhea-AI Filing Summary
Boston Scientific Corporation (BSX) announced that Joseph M. Fitzgerald, currently executive vice president and group president, Cardiovascular, will become executive vice president and chief operating officer effective January 1, 2027. On that date, the company will establish three reportable segments—Interventional Therapies, Rhythm Solutions and MedSurg. Fitzgerald will oversee global operations, business units and regions. Interventional Therapies will include the Penumbra business following the anticipated close of the acquisition.
Fitzgerald’s terms include a $1,050,000 annual base salary, an annual bonus target equal to 110% of base salary, and a 2027 equity award with a $7,000,000 grant-date fair value, expected in February 2027 and vesting 25% per year. He may defer up to 75% of the annual bonus awarded for each applicable year. He remains eligible to participate in the Executive Retirement Plan, under which he would be eligible, if he retires as defined by the plan, for a lump-sum payment equal to 2.5 months of base salary for each year of service, subject to a maximum benefit of 36 months. Mark Bickel becomes senior vice president, Global Accounting Controller and chief accounting officer on March 1, 2027; Emily Woodworth (Collins) will then become senior vice president, Global Finance Controller and Finance Transformation.
8-K Event Classification
3 items: 5.02, 8.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Annual base salary: $1,050,000 per year
Annual bonus target: 110% of annual base salary
Annual bonus deferral: Up to 75%
+3 more
6 metrics
Annual base salary
$1,050,000 per year
Fitzgerald’s terms as chief operating officer, effective January 1, 2027
Annual bonus target
110% of annual base salary
Fitzgerald’s terms as chief operating officer
Annual bonus deferral
Up to 75%
Of the annual bonus awarded for each applicable year under the Deferred Bonus Plan
2027 equity award
$7,000,000 grant-date fair value
Expected in February 2027; vests 25% per year
Executive Retirement Plan benefit
2.5 months of base salary for each year of service
Lump-sum payment for which Fitzgerald would be eligible if he retires as defined by the plan
Maximum Executive Retirement Plan benefit
36 months
Maximum benefit under the plan
Key Terms
reportable segments, Deferred Bonus Plan, non-qualified stock options, performance-based RSUs, +1 more
5 terms
reportable segments financial
"establish three reportable segments"
Reportable segments are the separate lines of business or geographic areas a company breaks out in its financial reports so investors can see how different parts perform. Like looking at slices of a pie instead of the whole pie, they reveal which activities drive revenue, profit or losses and help investors judge growth prospects, risks and whether management allocates resources effectively.
Deferred Bonus Plan financial
"participate in the Company’s Deferred Bonus Plan"
non-qualified stock options financial
"in the form of non-qualified stock options"
Non-qualified stock options are a type of employee benefit that gives individuals the right to buy company shares at a set price, usually lower than the market value, within a certain period. Unlike other options that may have special tax advantages, these options are taxed as income when exercised, which can affect how much money the employee or investor ultimately gains. They are important because they can influence company compensation strategies and impact the financial outcomes for employees and investors.
performance-based RSUs financial
"including performance-based RSUs"
Performance-based restricted stock units (RSUs) are promises to deliver company shares to employees only if the business meets specific goals, such as revenue, profit, stock-price targets, or strategic milestones. For investors, they matter because they change future share supply and align management incentives with company results—like a salesperson whose bonus only pays out when sales targets are hit—so they can affect earnings, dilution, and confidence in leadership.
Change in Control Agreement financial
"standard form of Change in Control Agreement"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does Joseph M. Fitzgerald become BSX’s COO?
Joseph M. Fitzgerald becomes Boston Scientific’s executive vice president and chief operating officer effective January 1, 2027. He will oversee the company’s global operations, business units and regions.
What compensation is disclosed for BSX’s incoming COO?
Fitzgerald’s terms include a $1,050,000 annual base salary, an annual bonus target equal to 110% of base salary, and a 2027 equity award with a $7,000,000 grant-date fair value, expected in February 2027 and vesting 25% per year. He may defer up to 75% of the annual bonus awarded for each applicable year.
What are BSX’s new reportable segments?
The three segments are Interventional Therapies, Rhythm Solutions and MedSurg. Interventional Therapies will include Interventional Cardiology, Vascular Therapies and Interventional Oncology & Embolization; Rhythm Solutions will include Electrophysiology, WATCHMAN and Cardiac Rhythm Management & Diagnostics; MedSurg will include Endoscopy, Urology and Neuromodulation. Interventional Therapies will include the Penumbra business following the anticipated close of the acquisition.
Who will become BSX’s chief accounting officer?
Mark Bickel becomes senior vice president, Global Accounting Controller and chief accounting officer effective March 1, 2027. Emily Woodworth (Collins) will continue as chief accounting officer until then and will become senior vice president, Global Finance Controller and Finance Transformation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________________________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
_____________________________________________________________________
Date of Report (Date of earliest event reported): October 1, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||||||||
(Address of principal executive offices) (Zip Code)
(508 ) 683-4000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
Chief Operating Officer
On October 7, 2026, Boston Scientific Corporation (the “Company”) announced that Joe Fitzgerald, who currently serves as Executive Vice President and Group President, Cardiovascular, has been promoted to Executive Vice President and Chief Operating Officer of the Company, effective as of January 1, 2027.
Mr. Fitzgerald, age 63, joined the Company in 1990, and has held a variety of management positions in the Company’s Cardiovascular business. In his current position, which he has held since May 2022, Mr. Fitzgerald oversees development and commercialization of advanced heart therapies for health care professionals and patients globally. Prior to that, Mr. Fitzgerald served as Executive Vice President and President, Cardiology from January 2022 to April 2022, as Executive Vice President and President, Interventional Cardiology from July 2020 to January 2022, as Executive Vice President and President, Rhythm Management from 2014 to 2020, and as Senior Vice President and President, Cardiac Rhythm Management from 2011 to 2014, as well as various roles of increasing responsibility prior to that. Mr. Fitzgerald is a member of the Company’s Global Council for Inclusion and is executive sponsor of the Company’s Women’s Network employee resource group. Mr. Fitzgerald received an MBA from Southern Illinois University with a concentration in marketing and finance and a BS in business from Indiana University.
Under the terms of Mr. Fitzgerald’s offer letter (the “Offer Letter”), effective as of January 1, 2027, as Executive Vice President and Chief Operating Officer, Mr. Fitzgerald will be entitled to the following:
•An annual base salary of $1,050,000;
•Continued eligibility to participate in the Company’s Annual Bonus Plan, with an incentive target percentage equal to 110% of his annual base salary;
•Continued eligibility to participate in the Company’s Deferred Bonus Plan, as previously filed with the SEC, pursuant to which Mr. Fitzgerald is able to elect to defer up to 75% of the annual bonus awarded to him for each applicable year;
•An annual equity award for 2027 having a total grant date fair value of $7,000,000, to be made pursuant to the Company’s 2011 Long Term Incentive Plan, as amended (the “LTIP”), as previously filed with the SEC, and in the normal course for annual equity awards granted to executive officers pursuant to the Company’s long term incentive program, expected in February 2027. The equity award will be in the form of non-qualified stock options and restricted stock units (“RSUs”), including performance-based RSUs, in each case subject to the provisions of the LTIP and applicable award agreements and vesting 25% per year; thereafter, long term incentive compensation grants for Mr. Fitzgerald will be evaluated annually in the normal course by the Executive Compensation and Human Resources Committee of the Company’s Board of Directors, consistent with the Company’s long term incentive program for its executive officers;
•Continued eligibility to participate in the Company’s Executive Retirement Plan, as previously filed with the SEC, under which Mr. Fitzgerald would be eligible to receive certain benefits if he retires (as defined in the Executive Retirement Plan) from the Company, including a lump sum payment equal to 2.5 months base salary for each year of service, subject to a maximum benefit of 36 months; and
•Payments and benefits provided for under the Company’s standard form of Change in Control Agreement for its executive officers, as previously filed with the SEC, in the event of, following a Change in Control, Mr. Fitzgerald’s termination by the Company without “cause” or his resignation for “good reason,” all subject to and in accordance with the agreement.
The Company has previously entered into an Indemnification Agreement with Mr. Fitzgerald on the Company’s standard form for its executive officers, as previously filed with the SEC.
A form of Mr. Fitzgerald’s Offer Letter is included in this filing as Exhibit 10.1 and is incorporated herein by reference. The foregoing summary does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the Offer Letter.
There are no arrangements or understandings between Mr. Fitzgerald and any other person pursuant to which Mr. Fitzgerald was selected as an officer, and there are no family relationships between Mr. Fitzgerald and any director or other officer of the Company. Certain transactions since the beginning of the Company’s last fiscal year in which the Company is a participant and in which Mr. Fitzgerald has an interest that are required to be reported under Item 404(a) of Regulation S-K are described in the section titled “Related Party Transactions” in the Company’s definitive Proxy Statement filed with the Securities and Exchange Commission on March 18, 2026.
Chief Accounting Officer
On October 1, 2026, the Company’s Board of Directors appointed Emily Woodworth (Collins) as Senior Vice President, Global Finance Controller and Finance Transformation, effective as of March 1, 2027. Ms. Woodworth will continue serving in her current position as Senior Vice President, Global Controller and Chief Accounting Officer, which she has held since January 2024, until March 1, 2027, at which time Ms. Woodworth will no longer serve as the Company’s Chief Accounting Officer. Ms. Woodworth’s transition from the Chief Accounting Officer position is not due to any disagreement with the Company on any matter relating to the Company’s financial statements, internal control over financial reporting, operations, policies, or practices.
Also on October 1, 2026, the Company’s Board of Directors appointed Mark Bickel, age 49, as Senior Vice President, Global Accounting Controller and Chief Accounting Officer, effective as of March 1, 2027. Mr. Bickel currently serves as Senior Vice President, Finance and Global Controller of the Company’s Cardiovascular business, a position he has held since January 2025. Prior to serving in his current role, Mr. Bickel served in various roles of increasing responsibility, including as Group Vice President, Finance and Global Cardiology Controller from 2022 to 2024, and before that as Vice President, Finance and Global Controller, Rhythm Management from 2013 to 2021. Mr. Bickel received an MBA from Indiana University with a concentration in finance, a BS in physical therapy from Indiana University, and is an active Certified Public Accountant (CPA).
Mr. Bickel is expected to receive a base salary and participate in the Company’s annual bonus plan and incentive stock awards program, as well as continue to be eligible to participate in other employee benefit programs, commensurate with the Company’s officers.
There are no arrangements or understandings between Mr. Bickel and any other person pursuant to which Mr. Bickel was selected as an officer, and there are no family relationships between Mr. Bickel and any director or other officer of the Company. Mr. Bickel does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 8.01 Other Events.
A copy of the Company’s press release dated October 7, 2026, announcing the events described under Item 5.02 above is included in this filing as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Form of Offer Letter dated October 1, 2026 between Mr. Fitzgerald and Boston Scientific Corporation.
99.1 Press Release issued by Boston Scientific Corporation, dated October 7, 2026.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | October 7, 2026 | BOSTON SCIENTIFIC CORPORATION | |||||||||
| By: | /s/ Susan Thompson | ||||||||||
| Susan Thompson | |||||||||||
| Vice President, Chief Corporate Counsel and Assistant Secretary | |||||||||||
Exhibit 99.1
Boston Scientific appoints Joseph M. Fitzgerald Executive Vice President and Chief Operating Officer
New operating structure designed to increase efficiency and support continued growth
MARLBOROUGH, Mass., Oct. 7, 2026 — Boston Scientific Corporation (NYSE: BSX) today announced the appointment of Joseph M. Fitzgerald to executive vice president and chief operating officer (COO), effective Jan. 1, 2027. In this role, Fitzgerald will oversee the company’s global operations, business units and regions.
In connection with Fitzgerald’s appointment, Boston Scientific will establish three reportable segments* — Interventional Therapies, Rhythm Solutions and MedSurg also effective Jan. 1. As the company continues to grow and expand its portfolio, the structure is designed to enable faster decision making and support strategic allocation of investments across the company’s portfolio.
“Joe’s deep knowledge of our business and markets, strategic leadership and strong track record of execution make him well suited for this role,” said Mike Mahoney, chairman and chief executive officer, Boston Scientific. “These changes reflect the scale and breadth of our business today and the opportunities ahead. 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.”
Lance Bates, executive vice president and president, Interventional Therapies, will lead the global Interventional Therapies segment, which will include the Penumbra business following the anticipated close of the acquisition. Nick Spadea-Anello, executive vice president and president, Atrial Fibrillation Solutions, will lead the global Rhythm Solutions segment. Stephen Morse, senior vice president and president, Asia Pacific, will serve as executive vice president and president, MedSurg and Asia Pacific. Each will report to Fitzgerald.
Fitzgerald currently serves as executive vice president and group president, Cardiovascular, Boston Scientific. Under his leadership, the company has strengthened its portfolio through organic innovation, strategic investments and commercial execution, introducing new technologies that have advanced care for patients around the world.
*Interventional Therapies will include the Interventional Cardiology, Vascular Therapies and Interventional Oncology & Embolization businesses; Rhythm Solutions will include Electrophysiology, WATCHMAN and Cardiac Rhythm Management & Diagnostics; and MedSurg will include Endoscopy, Urology and Neuromodulation.
About Boston Scientific
Boston Scientific transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 45 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of healthcare. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Learn more at www.bostonscientific.com and follow us on LinkedIn.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "may," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding our management transition and organizational plans, business plans and product performance, and financial performance. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
Risks and uncertainties that may cause such differences include, among other things: economic conditions, including the impact of foreign currency fluctuations; future U.S. and global political, competitive, reimbursement and regulatory conditions, including changing trade and tariff policies; geopolitical conflicts and tensions; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events; disruptions caused by public health emergencies or extreme weather or other climate change-related events; labor shortages and increases in labor costs; variations in outcomes of ongoing and future clinical trials and market studies; new product introductions; expected procedural volumes; the closing and integration of acquisitions; demographic trends; intellectual property; litigation; financial market conditions; the execution and effect of our business strategy, including our cost-savings and growth initiatives; and future business decisions made by us and our competitors. New risks and uncertainties may arise from time to time and are difficult to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A - Risk Factors in our most recent Annual Report on Form 10-K filed with the
Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements, except as required by law. This cautionary statement is applicable to all forward-looking statements contained in this press release.
| CONTACT: | ||||||||||||||
| Media: | Chanel Hastings | Investors: | Lauren Tengler | |||||||||||
| 508-382-0288 (office) | 508-683-4479 (office) | |||||||||||||
| Media Relations | Investor Relations | |||||||||||||
| Boston Scientific Corporation | Boston Scientific Corporation | |||||||||||||
| chanel.hastings@bsci.com | BSXInvestorRelations@bsci.com | |||||||||||||