By Rich Bond
Profile Magazine had a great article about Bob Castagna, Vice President and Treasurer of Boston Scientific, on the importance of a strategic treasury function. I’ve known Castagna for many years and have deep admiration for him. During his tenure, Boston Scientific has grown from $500 million to $10 billion in sales.
In the article, Castagna made a lot of really important points that any corporate treasurer should read. But the one that made the strongest impression on me was this one, “I don’t like change,” he says. “I love change. I constantly have to throttle myself back because I see opportunity everywhere.”
Most people shy away from change, and here is Castagna harnessing it. He contributed to his company’s growth by doing the following:
- Financing growth by expanding access to capital markets, while building relationships with the sources of capital such as banks.
- Developing strong relationships with all of senior management across the entire company.
- Understanding how internal corporate needs and functions, as well as the capabilities of outside financial markets and the regulatory environment, enabled him to step back and have the perspective required to be proactive, reduce risk, and add value.
- Building the right team and working well with the other teams throughout the company so that they all were pulling in the same direction.
The article is filled with so much more in very rich detail, I hope you’ll read it in its entirety.
https://profilemagazine.com/2019/bob-castagna-boston-scientific/
