Because of “post-employment obligations” to Johnson & Johnson, where he currently serves as the worldwide chairman of the medical device and diagnostics group, Mahoney will not take over as CEO until November 2012.
He is a former worldwide company group chairman for DePuy, the orthopedics and neurosciences business owned by New Brunswick, N.J.-based Johnson & Johnson. Mahoney is also a former president and CEO of GHX, a company that provides supply-chain management and connectivity services.
Ray Elliott, who said in May that he planned to step down as president and CEO, will serve in his current role until Oct. 17. Hank Kucheman, executive vice president and group president of the cardiology, rhythm and vascular group, will act as interim CEO.
The news release said that Mahoney will report to Kucheman until he takes over as CEO next year.