Boston Scientific Corporation (NYSE: BSX) announced a significant leadership change as Executive Vice President and Chief Financial Officer (CFO) Dan Brennan retires following nearly 30 years of dedicated service. Brennan will step down from his CFO role at the end of June 2025 and continue as a senior advisor through early October 2025. Jon Monson, currently Senior Vice President of Investor Relations, will succeed him as CFO, effective June 30, 2025. This transition marks a pivotal moment for Boston Scientific amidst the company’s robust financial growth and strategic initiatives.
As of the fiscal year ending December 31, 2024, Boston Scientific reported total revenues of \(16.747 billion, an impressive figure underscoring the company’s strong market position. Operating income for the same period was \)2.603 billion, while net income stood at $1.853 billion, reflecting effective cost management and operational efficiency under Brennan’s financial stewardship.
These financial metrics highlight Boston Scientific’s sustained growth trajectory, with the company achieving a notable organic growth rate of approximately 16% and adjusted earnings per share (EPS) growth of 22% in recent quarters, as per earnings call disclosures. Brennan’s leadership has been instrumental in navigating complex market dynamics, including foreign exchange challenges and volatile economic conditions, to deliver consistent profitability and shareholder value.
Chairman and CEO Mike Mahoney lauded Brennan’s contributions, emphasizing his role in transforming BSX’s financial performance and fostering a strong corporate culture centered on talent development and innovation. Brennan’s tenure as CFO since 2014 has seen Boston Scientific advance its portfolio through internal and external investment opportunities, fueling sustainable growth in high-performance medical technologies.
Jon Monson brings over 25 years of financial experience at Boston Scientific, including roles as global controller and chief accounting officer. His appointment ensures continuity and momentum in Boston Scientific’s strategic financial management, with responsibilities spanning global controllership, corporate finance, treasury, tax, investor relations, and business development.
In the 2024 fiscal year earnings discussions, Brennan highlighted operational revenue growth of 22.4% in Q4 2024, notwithstanding a 70 basis-point foreign exchange headwind. He expressed confidence in sustaining flat pricing and operational excellence in 2025, aligning with the company’s three-year long-range plan.
Additionally, Boston Scientific’s strategic initiatives, including acquisitions such as Baylis Medical and product innovation launches like FARAPULSE and POLARx, have driven significant market penetration and revenue growth, as reiterated in multiple earnings calls from 2022 through 2024.
While Brennan will not provide specific guidance beyond 2025, the financial community remains optimistic about Boston Scientific’s trajectory under Monson’s upcoming leadership. The company’s strong balance sheet, ongoing R&D investments, and focus on delivering double-digit EPS growth set a promising foundation for future performance.
Dan Brennan’s retirement signifies the end of a transformative era for Boston Scientific’s financial leadership. His nearly three decades with the company and over a decade as CFO have significantly contributed to Boston Scientific’s status as a leader in innovative medical technology. With Jon Monson’s extensive experience and strategic acumen, Boston Scientific is well-positioned to continue its growth and innovation journey.
For detailed information, please refer to the official SEC filing: Boston Scientific 8-K Report.
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