How to auto-remove wrapping tags?

How to auto-remove wrapping tags?

Assume I have multiple occurrencies of the following elements

  1. <small><code><b>xxx</b>aaa</code></small>

How can I remove all <b>...</b> tags but leave the content?

Afterwards the following should appear:

  1. <small><code>xxx aaa</code></small>
After xxx a blank should be inserted