Originally Published MX July/August 2004
BUSINESS NEWS
Guidant's Dollens to Retire |
| Dollens |
Guidant Corp. (Indianapolis) announced at its annual shareholders meeting in May that president and CEO Ronald W. Dollens will retire in December. Dollens has held the position of CEO since the cardiology company's initial public offering in 1994. Guidant split off from Eli Lilly and Co. (Indianapolis) in 1995.
In a statement, Dollens said that his decision to retire was part of a deliberate, long-term succession plan. The decision, he said, "comes at a time when the company is well positioned to continue its remarkable record of success. I am confident that this management team will continue to advance our outstanding clinical leadership, sustained focus on innovation, and leadership in the public policy arena."
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| Graf |
According to Guidant chairman James M. Cornelius, a new CEO will be named by the end of the year. "Under Ron's leadership, Guidant has achieved phenomenal growth and success over the past decade," said Cornelius. "Ron has built a global organization with exceptional intellectual and operational capabilities."
Guidant also announced that group chairman A. Jay Graf will retire in July and that group chairman Guido Neels will be elevated to the position of chief operating officer. Neels currently oversees worldwide sales and distribution.
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| Neels |
Since Guidant was incorporated in 1994, the company has grown to more than 12,000 employees and posts $3 billion in revenues annually. In its 2003 annual report, issued earlier this year, Guidant reported sales gains of 17% over 2002.
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