Boston Scientific pays new CEO Elliott 2009 compensation valued at $33.4 million

Boston Scientific pays new CEO $33.4M in 2009

NATICK, Mass. — Boston Scientific says J. Raymond Elliott received a $1.5 million signing bonus last year and stock and option awards valued at more than $29 million as he took over as CEO of the medical device maker.

An Associated Press analysis found that the 60-year-old senior adviser-turned-CEO received total compensation valued at $33.4 million. That includes a roughly $600,000 salary and various perks.

Elliott replaced James Tobin as head of the Natick, Mass., company on July 13. Tobin received total compensation valued at $13.5 million, including severance.

The AP’s executive pay calculation, based on a regulatory filing, aims to isolate the value the company’s board placed on the CEO’s total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.