Carlos Costa (MBA’86) on leading, learning, and giving back

Let’s start at the beginning, Carlos—can you tell us about your background and your relationship with IESE Business School?
I studied engineering and, after gaining some experience in our family business, decided to pursue the International MBA at IESE, graduating in 1986.

You’ve had a remarkable career spanning top-tier consulting and executive leadership at Mango. How did that path unfold?
I joined BCG and spent 26 years in consulting, focusing on consumer goods, retail, travel, and healthcare, building a fantastic team along the way. Later, I had the opportunity to support Isak Andic during Mango’s generational transition and strategic transformation, which allowed me to put my consulting experience into practice. I feel very fortunate for all the opportunities and challenges I’ve encountered.

In what ways did IESE’s MBA program influence your path as a business leader and now as a mentor and advisor?
The MBA was pivotal. It broadened my technical knowledge and, more importantly, gave me a strategic, general management perspective. It also helped me understand how critical people and team dynamics are to business success.

What inspired you to support entrepreneurship after years in the corporate world?
I discovered a strong personal motivation to help others. We have a new generation of energetic individuals eager to improve the world, but they face many obstacles. I believe experienced managers can make a real difference by offering pro bono advice and support.

Tell us about your experience as a WeGrow mentor.
It’s been a rewarding journey across diverse sectors—e-commerce OTC drugs, beauty, recycling, restaurants, loyalty and transport SaaS, and formal menswear. I’ve helped teams navigate challenges like rapid growth, international expansion, retail optimization, franchising, and organizational development.

Looking ahead, what key trends will shape the investment and entrepreneurship space? What should future entrepreneurs pay attention to?
E-commerce has matured, and investor caution has reduced the pace of disruption in that space. But over the past two years, we’ve seen a surge in AI applications creating exciting new opportunities. Venture capital is now actively backing AI-driven ventures across many industries.

What advice would you give to current IESE students—or anyone—considering entrepreneurship?
Entrepreneurship is rewarding but also tough and risky. If you don’t have a clear purpose, get hands-on experience and a solid business education first. But if you do have a strong passion or a compelling idea, build a robust plan, seek advice from trusted mentors, and go for it, learning along the way.

Thank you, Carlos. Now for the speed round:

What do you do in your free time?
I love art, jazz, and sports… a diverse portfolio, need more time!

If you had to describe yourself in three words, what would they be?
Motivated to learn, willing to help, and resilient.

What are you reading, watching, or listening to these days?
Love to read about AI applications and impact, and can recommend Co-Intelligence: Living and Working with AI, by Ethan Mollick

Something that makes you happy?
Seeing my children and other young people progress in their lives.

Favorite place?
Top of a snowy mountain on a sunny day.

What is the most important lesson you’ve learned in life so far?
Need to keep a balance between short-term and life objectives.