Minneapolis-based medical device manufacturer Medtronic has a straightforward, six-word mission: Alleviate pain, restore health, extend life.
That mission has served the company well. From its formation as the inventor and producer of the world's first implantable pacemaker in the 1950s, Medtronic now makes devices that treat 70 different conditions, has sales in more than 150 countries, and does business in 60 currencies. However, as it grew into a global organization, its foreign exchange (FX) risk management processes began causing pain, not alleviating it.
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Meg Waters
Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.
