GUIDANT HEAD ANNOUNCES EARLY RETIREMENT

Fred McCoy, president of Guidant Cardiac Rhythm Management, has elected early retirement effective March 17, Guidant has announced.

An interim management team will succeed McCoy until the closing of the Boston Scientific transaction set for the first week of April.

"Fred has spent his entire 25-year business career with Guidant and its previous pre-split-off owner Eli Lilly and Company, in a variety of increasingly responsible global assignments. He has served as the leader of this business unit since 2000, and has been instrumental in the market adoption of new Guidant products for the treatment of sudden cardiac death and heart failure," said James Cornelius, Guidant chairman and CEO.

McCoy added, "Thanks to the hard work and dedication of our people, thousands of heart patients around the world are living longer, healthier lives. With the upcoming ownership change to Boston Scientific, now is the appropriate time for me to depart. I do so with every wish and expectation for the success of the fine people of the company and of those that we serve."

Mark Bartell, current president of Guidant and William McConnell, Guidant vice president, who is leading Guidant integration planning into Boston Scientific, will serve as co-heads of the global cardiac rhythm management business until the transaction is completed. ()a href="http://www.fdanews.com/ddl" target=_blank>