Boston Scientific Chief Financial Officer (CFO) Dan Brennan to retire; Jon Monson, senior vice president, Investor Relations to succeed Brennan

Rhea-AI Summary

Boston Scientific (NYSE: BSX) announced that CFO Dan Brennan will retire after nearly 30 years with the company. Brennan will step down as CFO at the end of June 2025 and remain as senior advisor through early October 2025.

Jon Monson, currently senior vice president of Investor Relations, will succeed Brennan as executive vice president and CFO effective June 30, 2025. Monson brings over 25 years of experience at Boston Scientific and will oversee global controllership, internal audit, corporate finance, treasury, corporate tax, investor relations and corporate business development.

Monson previously served as global controller and chief accounting officer for five years and vice president and controller of the company's Urology business for four years. He played a key role in navigating the company through the 2020 pandemic as global controller.

Positive

• Smooth leadership transition planned with internal succession
• New CFO brings 25+ years of company experience
• Incoming CFO has proven experience managing through crisis (2020 pandemic)

Negative

• Loss of long-term CFO with 30 years company experience

MARLBOROUGH, Mass., April 23, 2025 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced that Dan Brennan, executive vice president and chief financial officer, has elected to retire following nearly 30 successful years with the company. Brennan will transition out of the chief financial officer position at the end of June and is expected to remain with Boston Scientific as a senior advisor through early October 2025.  

"I thank Dan for his incredible leadership and tremendous contributions to Boston Scientific," said Mike Mahoney, chairman and chief executive officer. "Dan is an exceptional leader, financial steward and teammate. He has been a critical leader on our global team as we have transformed the trajectory of BSX financial performance over many years. In addition to helping lead our highly differentiated financial performance, Dan has been central to building our strong values and culture. Throughout his career, he has been instrumental in developing talent within the financial organization. He and his team have overseen numerous strategic internal and external investment opportunities across our businesses since he assumed CFO responsibilities in 2014."

Jon Monson, currently senior vice president, Investor Relations will succeed Brennan as executive vice president and CFO, effective June 30, 2025, reporting to Mahoney. Brennan and Monson will work closely together to ensure a smooth transition. In this role, Jon will be a member of the Executive Committee and have responsibility for several company functions, including global controllership, global internal audit, corporate finance, treasury, corporate tax, investor relations and corporate business development. In addition to overseeing these functions, Jon will also drive capability and talent development across the company's global finance organization.

"Jon is a proven leader who is known for his strategic mindset, diligent and thoughtful leadership and focus on high performance and continuous innovation," said Mahoney. "Having been with Boston Scientific for more than 25 years, he brings broad financial experience and expertise across many areas of the company which will serve him well in his new role."

Prior to his current position leading investor relations, Jon held multiple roles of increasing responsibility across Boston Scientific finance, including five years as global controller and chief accounting officer and, prior to that, four years as vice president and controller of the company's Urology business. As global controller, he played a key leadership role in navigating the company through volatile financial periods, including the 2020 pandemic. He is a certified public accountant and earned his Bachelor of Arts degree in economics and accounting from the College of the Holy Cross.

About Boston Scientific
Boston Scientific transforms lives through innovative medical technologies that improve the health of patients around the world. As a global medical technology leader for more than 45 years, we advance science for life by providing a broad range of high-performance solutions that address unmet patient needs and reduce the cost of healthcare. Our portfolio of devices and therapies helps physicians diagnose and treat complex cardiovascular, respiratory, digestive, oncological, neurological and urological diseases and conditions. Learn more at www.bostonscientific.com and connect on LinkedIn and X.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words.  These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance.  These forward-looking statements include, among other things, statements regarding our management transition plans, business plans and product performance, and financial performance.  If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements.  These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release.  As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. 

Factors that may cause such differences include, among other things: economic conditions, including the impact of foreign currency fluctuations; future U.S. and global political, competitive, reimbursement and regulatory conditions, including changing trade and tariff policies; geopolitical events; manufacturing, distribution and supply chain disruptions and cost increases; disruptions caused by cybersecurity events; disruptions caused by public health emergencies or extreme weather or other climate change-related events; labor shortages and increases in labor costs; variations in outcomes of ongoing and future clinical trials and market studies; new product introductions; expected procedural volumes; the closing and integration of acquisitions; demographic trends; intellectual property; litigation; financial market conditions; the execution and effect of our business strategy, including our cost-savings and growth initiatives; and future business decisions made by us and our competitors.  All of these factors are difficult or impossible to predict accurately and many of them are beyond our control.  For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter.  We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements, except as required by law.  This cautionary statement is applicable to all forward-looking statements contained in this document.

CONTACT:

Media:

Chanel Hastings 508-382-0288 (office) Media Relations Boston Scientific Corporation chanel.hastings@bsci.com

Investors:

Jonathan Monson 508-683-5450 (office) Investor Relations Boston Scientific Corporation BSXInvestorRelations@bsci.com

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SOURCE Boston Scientific Corporation

FAQ

When will Dan Brennan step down as Boston Scientific (BSX) CFO?

Dan Brennan will step down as CFO at the end of June 2025 and remain as senior advisor through early October 2025.

Who is replacing Dan Brennan as Boston Scientific's new CFO?

Jon Monson, currently senior vice president of Investor Relations, will become the new CFO effective June 30, 2025.

What is Jon Monson's experience at Boston Scientific (BSX)?

Monson has over 25 years at Boston Scientific, serving as global controller, chief accounting officer, and VP controller of the Urology business.

What will be Jon Monson's responsibilities as BSX's new CFO?

Monson will oversee global controllership, internal audit, corporate finance, treasury, corporate tax, investor relations and corporate business development.