Guidant's Dollens to Retire

Originally Published MX July/August 2004

BUSINESS NEWS

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."

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."