Afleveringen
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Mo Shahzad is not one for trivial conversations. At Relativity Space, he’s known for his deep curiosity, often engaging team members in discussions about their interests and passions. This intellectual curiosity is not just a personal trait—it’s a vital tool for his role as CFO. Mo’s ability to connect on a personal level mirrors his professional mission: translating the innovative dreams of Relativity Space’s founders into a compelling narrative for investors.
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In the season 1 finale of Controllers Classified, host Erik Zhou is joined by Sarah Hinkfuss from Bain Capital Ventures for an overview of the VC investment landscape and a deep dive into her investment due diligence approach for growth stage companies.
The episode begins with Sarah highlighting milestones from her career, including her time conducting water pricing research in the Middle East, her transition into tech, and her pivot from tech into investing. Underlying everything is her passion for empirical based decision making and a belief that complex problems require a multidisciplinary approach.
The conversation then pivots to the investment landscape. Sarah explains the relationship between companies, VCs, and LPs, and how the macroeconomic environment is driving a “flight to quality”. The result is companies are being asked to balance growth and profitability, and increasingly making hard decisions around what to keep and what to cut.
Sarah then gives listeners an insider's look at her investment due diligence approach for growth stage companies, underscoring the importance of a company’s financials in this process. She spends some time explaining why unit economics and a business model are so important and notes that it’s not just about seeing the numbers. A founder must have a clear narrative about what drives their business and where they see things going in the future. Sarah also touches on the transition from Series A to Series B, and the nuances in the fundraising process for early vs. growth stage companies.
This episode is a must-listen for founders & finance leaders aiming to navigate the complexities of fundraising in today’s macroeconomic environment. -
Zijn er afleveringen die ontbreken?
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Looking back, John Lutz doesn't hesitate to recall a strategic turn along his career journey when, during his tenure as director of finance at Charter Steel, he transitioned a cumbersome, error-prone Excel model into an advanced, activity-based costing system. By involving stakeholders from across the company, Lutz tells us he not only gained buy-in but also unlocked the power of teams to create a tool that transformed the way the business operated, enhancing both efficiency and profitability.
Years later, as CFO of Sellars, a manufacturer of household products and supplies, Lutz spearheaded efforts to modernize the company’s data infrastructure. “We’ve come a long way in two years,” says Lutz, who tells us that in the not-too-distant past, the company’s data storage strategy involved a row of filing cabinets. Along the way, real-time dashboards replaced static reports, enabling instant access to crucial data. These changes, Lutz explains, turned the finance department into a strategic partner that proactively identified and addressed issues.
His commitment to leveraging technology hasn’t stopped there, as he looks to introduce robotic process automation to streamline repetitive tasks, freeing up his team to focus on higher-value activities. Extending beyond internal collaborations, his approach to empowering teams was further evidenced by his close cooperation with supply chain partners to optimize procurement processes and nurture long-term, sustainable relationships.
Lutz's CFO mindset exemplifies how embracing the power of teams and technology can drive transformative change. By fostering collaboration, leveraging data, and empowering his team, Lutz says he has been able to propel organizations forward, demonstrating that finance can be a catalyst for strategic growth and innovation.
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Beginning her career as an analyst, Carol Lee honed her technical skills both in pre-revenue start-ups and a multinational corporation with over $10 billion in revenue. These contrasting environments, she tells us, equipped her with a unique perspective on what it takes to be both scrappy and scalable.
Early in her career, Lee immersed herself in M&A activities, gaining insights from both the buy and sell sides. As an analyst, she was able to absorb vast amounts of financial information and build detailed models as she observed high-stakes negotiations from up close. These experiences were instrumental in understanding the end-to-end processes of M&A, from financial scrutiny to integration and synergy realization. This comprehensive view became invaluable to her as she emerged as a finance leader.
Lee’s tenure at 100-year-old Konica Minolta exposed her to large-scale operations and the intricacies of synchronized business processes. This period taught her the importance of structured, efficient workflows and the necessity of diverse go-to-market strategies. These insights became crucial when she transitioned to the fast-paced environment of Silicon Valley tech start-ups, where agility and rapid decision-making are essential.
In her first CFO role at GoodData, a VC-backed company, Lee embraced the chaos and speed of the start-up culture. Her ability to balance structured financial oversight with the need for flexibility and rapid experimentation became a hallmark of her leadership. This balance, coupled with a deep understanding of various business scales and sectors, defines Lee’s CFO mindset today.
Lee emphasizes the importance of communication, storytelling, and partnership in finance leadership. By integrating technical acumen with strategic foresight and a collaborative approach, she navigates the complexities of scaling businesses while fostering innovation and growth.
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CFO Thought Leader host Jack Sweeney and performance management guru Brett Knowles explore and highlight the takeaways from The 20 Leading CFOs of AI report, recently published by CFO Thought Leader. The conversation underscores the ethical challenges posed by AI and the critical role CFOs play in ensuring responsible governance. Notable examples like Krishna Rao of Anthropic and Colette Kress of Nvidia. As AI continues to revolutionize industries, CFOs are tasked with balancing innovation and ethical stewardship.
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Michael O’Grady’s finance strategic moment occurred in 2014 at higher-ed tech company Ellucian. Faced with transitioning from a traditional perpetual license model to a SaaS one, he identified the need for a unified approach across all business functions. Recognizing that the company’s executives had differing visions, he proposed skipping the annual budget process to focus on a 5-year integrated plan. This comprehensive strategy, developed with input from all departments, required significant investment but also was crucial for the company’s transformation. The plan’s success ultimately contributed to Ellucian’s acquisition by TPG for $3.5 billion, demonstrating the power of cohesive strategic financial planning.
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O’Grady’s journey to becoming a finance executive was far from linear. In his early years, he was uncertain about his career path. He had a passion for languages, which led him to work for Berlitz, the global language education company. Fluent in three languages, he found that his experience at Berlitz broadened his perspective and honed his communication skills. Still, something was missing.
Increasingly, O’Grady found himself intrigued by the complexities of business and finance. He decided to pursue further education in the latter, where his analytical mind and problem-solving skills began to shine. His first major career step in finance was at a midsize manufacturing firm. Here, he encountered the realities of budget constraints and resource allocation, learning the critical importance of aligning financial goals with broader company strategies.
By the time he joined Ellucian, O’Grady had built a wealth of diverse experiences that had shaped his financial acumen. His ability to integrate different departmental visions into a cohesive financial strategy helped not only to transform Ellucian’s business model but also to self-validate his growing ambitions to become a CFO.
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Two-and-a-half years ago, CFO Tony Querciagrossa began a discussion with Dale Schwartz, founder of Pinstripes, that would eventually lead to Querciagrossa joining the experiential dining up-and-comer as CFO. Turn back the clock a little, and you would see that Pinstripes, aiming for a traditional IPO, had engaged Goldman Sachs to solidify its path toward benefiting from a permanent capital structure. However, the emergence of the omicron variant of you-know-what disrupted these plans, placing the firm’s IPO on hold as uncertainty loomed.
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Despite the sudden challenges, Pinstripes pivoted swiftly to seize the opportunity presented by a changing financial landscape. Enter Banyan, a SPAC deeply invested in the industry and eager to collaborate. Querciagrossa joined the company just as the Banyan team was finalizing their business combination agreement—which would mark a pivotal moment in Pinstripes’s trajectory. With momentum building, Querciagrossa stepped into his role as CFO during the second phase of Banyan’s road show, where discussions revolved around securing vital capital for the company’s future.
For the sake of perspective, it may be informative to note that Querciagrossa’s journey had begun at GE, where he honed his skills as a proactive finance executive amidst a culture that encouraged strategic thinking over reactive responses and prepared him well for his critical juncture with Pinstripes. His experience in navigating complex financial landscapes and fostering growth in dynamic environments would serve as a foundation for his leadership role at his new firm. Embracing the challenges presented by the SPAC route, Querciagrossa tells us, he nonetheless was fortunate to be able to achieve the the agility and foresight necessary to navigate turbulent market conditions and steer Pinstripes toward its next phase of growth.
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On Location IMA24 (San Antonio, TX) the annual America's conference for the Institute of Management Accountants (IMA)
CFO Thought Leader Host Jack Sweeney speaks to Mike DePrisco, IMA President and CEO, about the evolving importance of certifications like the CMA (Certified Management Accountant) and the newly established FMAA (Financial and Managerial Accounting Associate) to support early-career individuals. DePrisco stressed the need for personalized professional development to cater to unique career motivations and the critical role of CFOs in promoting continuous learning.
The IMA is focusing on stackable digital credentials in areas like AI and cybersecurity to help professionals specialize further. Additionally, the IMA plans geographic expansion, notably into Japan, and aims to strengthen partnerships with academic institutions and organizations.
Dianna Steinbach, IMA SVP growth, highlights the opportunities for growth both domestically and internationally, with a strategic push into Japan due to its need for financial management and analysis (FP&A) resources.
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In the throes of the Great Recession, Erica Gessert faced one of her first tests of leadership. As the head of Investor Relations for Virgin Mobile, she found herself navigating the collapsing financial sector. Key banks that were integral to the company's operations began to crumble, and the economic landscape was fraught with uncertainty. Keeping investor concerns top of mind, Gessert was able to help steady Virgin Mobile and bring the path leading beyond the crisis into full view.
In the years ahead, Gessert’s career trajectory continued upward as she transitioned into various finance leadership roles. She spent a significant portion of her career at PayPal, where she honed her skills in analytics and strategic planning. Her ability to leverage data for decision-making allowed her to emerge as a strategy-minded finance executive capable of driving business growth and profitability.
In May 2022, Gessert was named CFO of Upwork. At the time, the company was grappling with profitability challenges despite the favorable tailwinds from the pandemic-induced shift to remote work. Drawing on her experience, Gessert initiated a series of strategic measures to stabilize the company's finances. Within just three quarters, she led Upwork to a turnaround, achieving 18% EBIT margins and positive cash flow.
A key aspect of Gessert’s strategy has been leveraging technology and data analytics to enhance customer acquisition and retention. She implemented predictive churn models and other analytical tools to gain deeper insights into customer behavior, significantly improving Upwork’s client growth.
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When she was an international studies major living abroad, Ashley Johnson tells us she met a U.S. ambassador whose unvarnished career advice subsequently led her to divert her career path away from the diplomatic corps of the U.S. foreign service.
Johnson reflects, "I thought I was going into the State Department." However, a weekend spent with Ambassador Roy Huffington, immersed in discussions about the pivotal role of a strong economy, sparked a profound realization. "You cannot be an effective leader if you don't understand how to make a strong economy," the ambassador and renowned Texas oilman emphasized, leaving Ashley determined to delve into the world of business and finance.
More encouragement followed when a friend from a study group introduced her to the intricacies of Wall Street, igniting her fascination with financial statements. "Financial statements tell a really interesting story," she notes, "and if you know how to read them, you're going to understand something about that company that maybe other people won't."
Johnson routinely draws our attention to lessons and moments of insight, such as when she illustrates for us the origins of her unwavering commitment to thorough analysis. During a pivotal investment decision, her scrutiny of financial assumptions saved her firm from a potential catastrophic loss. "Look for those assumptions, question them again and again," she advises, emphasizing the critical role of meticulous examination in financial decision-making.
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In this episode of Controllers Classified, host Erik Zhou is joined by Eugene Spevakov, Treasurer and Head of Corporate FP&A at 6sense. The conversation begins by tracing Eugene’s path, highlighting his start in civil engineering and his transition into treasury and corporate finance.
The episode then dives deep into the primary responsibilities of a treasury function: cash and risk management (aka, you need to be able to move money from point A to point B safely). Eugene spends time explaining what both mean and best practices associated (tip: prioritize cash preservation, liquidity, then yield). As a part of that, he reflects on the SVB collapse a year ago, and how that galvanized a lot of companies to take a hard look at their cash and risk management processes.
The conversation pivots to Eugene’s focus areas and accomplishments at 6sense. He shares how he built the company’s first official treasury function, executed a senior secured credit facility, and designed an investment portfolio to optimize yield and reduce banking fees. As a part of this, he spends a few minutes on the macro environment, including the end of the ZIRP era and the influence of geopolitics. His primary point? Manage the risk you can control, and scenario plan for what you can’t.
This is a “don’t miss” episode for finance leaders looking to build effective cash and risk management strategies. -
CFO Jorge Stevenson’s finance career journey begins in Santiago, Chile, where both his parents were leaders within the business community and instilled in him the importance of finance when it comes to achieving business success.
Jorge’s formal business education began with an MBA from Duke University, where he honed his finance. His professional journey includes pivotal roles at a number of different organizations. At Goldman Sachs, he gained exposure to mergers and acquisitions, financial planning, and board-level responsibilities. His tenure at Prudential further solidified his strategic thinking capabilities, working on mergers and acquisitions across Latin America, Europe, and Africa.
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In the early years of Scott Henderson’s career, the dotcom bubble burst, leaving the tech industry in turmoil and many young professionals uncertain about their futures. Despite this chaotic climate, Henderson decided to take a calculated risk by joining another dotcom venture. This time, the company was a modest enterprise with 300 employees and $25 million in revenue. At the time, it was known as Salesforce.com.
Henderson’s gamble paid off handsomely. As Salesforce grew from a promising start-up into a global tech giant, Henderson’s role within the company expanded significantly. He ascended through the ranks, eventually managing a team of 600 people across 13 countries. During his tenure, he played a pivotal role in integrating major acquisitions like MuleSoft and Tableau, helping to navigate the complexities of these integrations while driving corporate planning and strategic initiatives.
In 2022, Henderson took on a new challenge as CFO of DISQO, a brand experience platform company. Stepping into DISQO, he was greeted by a smaller team and the economic headwinds of a post-pandemic world. Henderson immediately set about understanding the company’s structure, focusing on areas for improvement and leveraging his extensive experience to bolster DISQO’s finance operations.
One of his key initiatives was to enhance Revenue Operations (RevOps), positioning it as the crucial link between the front and back offices. This strategic focus helped DISQO to navigate economic uncertainties while preparing for durable growth. Under Henderson’s guidance, DISQO transformed its finance function into a strategic partner, enabling better decision-making and fostering a culture of continuous improvement.
Henderson’s career journey, marked by calculated risks and strategic foresight, underscores the importance of adaptability and vision in the ever-evolving tech landscape.
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Efraín Pérez Agosto began his career on the lively casino floors of Puerto Rico, where his fascination with the gaming industry was first sparked. Starting with a succession of jobs, he quickly showcased his analytical prowess and passion for finance. In search of broader horizons, Agosto relocated to the U.S. when his casino owner set down roots in Indiana. This move marked a pivotal chapter in his career, as he balanced work while completing his undergraduate degree stateside before going on to pursue an MBA.
The Indiana operation offered Agosto invaluable experience in the American gaming market. His ability to dissect complex data and drive strategic initiatives began to set him apart. During this period, Agosto tells us, his pursuit of an MBA expanded his strategic thinking and prepared him for more significant challenges ahead.
Upon graduating, Agosto joined Caesars Entertainment, where he soon found himself on a fast track to becoming a casino controller. After 4 years with Caesars, it was then on to MGM Resorts International, which was seeking to field a finance team for its new National Harbor resort in Maryland.
Agosto headed east, where over the next 5 years he steadily advanced up MGM’s finance ladder. Eventually having beefed up his FP&A resume, he subsequently landed inside the National Harbor’s CFO office.
Although his leadership there was notably tested by both the COVID-19 pandemic and a significant cyberattack, his proactive and resilient approach was able to help to safeguard the business. Today, Agosto focuses on driving growth initiatives and navigating labor market challenges, positioning him as a transformative finance leader in the gaming industry.
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Robert Cornella’s path to the CFO office at Republic National Distributing Company (RNDC) wasn’t meticulously planned; it was shaped by pivotal moments and unexpected opportunities. A significant milestone arrived with his appointment as CFO of Coca-Cola Germany, a defining chapter in his career.
Before his tenure in Germany, Cornella had already achieved several notable accomplishments. His journey began when he boldly relocated from the United States to Europe with E&Y, setting the stage for transformative experiences.
His elevation to CFO of Coca-Cola Germany validated his previous career decisions. “I was handed the keys to the kingdom,” he recalls. Still, Cornella had some nagging doubts and wondered whether he was ready for the position. For his part, Cornella had emerged as an ideal candidate for the role due to his involvement in a multibillion-dollar transaction consolidating European bottlers. In time his deep understanding of the different bottlers and their operations, along with his growing fluency in German, would allow him to navigate the complexities of the new position with confidence.
Still, Cornella’s story neither starts nor ends there. Another opportunity arose when Coca-Cola sought to formalize its finance function, particularly with regard to concentrate operations—which were generating more than 70% of revenue. Cornella was asked to be the lead in Ireland by establishing a finance team for EMEA’s commercial product supply. This was an unexpected challenge, but one that he embraced wholeheartedly.
Reflecting on his journey, Cornella acknowledges the wisdom of those who saw his potential long before he did. Each twist and turn offered opportunities for growth and learning, shaping him into the capable leader that he is known to be today.
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Blending academic rigor with industry acumen- Fatema El-Wakeel, PHD has multiple professional lives inside the data strategy realm. Her multifaceted career encompasses roles at the University of Cambridge, where she imparts knowledge as a seasoned educator, and at Unilever, where she shapes strategic data initiatives. Fatema also lends her expertise as a non-executive director (Institute of Management Accountants), showcasing her versatility and leadership in diverse settings.
A crucial aspect of her professional life is the intersection of academia and industry. Fatema champions the idea that academic research can profoundly inform practical solutions, while real-world challenges can drive academic inquiry. This synergy enhances both realms, fostering innovation and effective problem-solving.
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When David's Bridal, a New York City staple, filed for bankruptcy in 2018, Joan Hilson was at the helm as CFO. The experience was a crucible, teaching her invaluable lessons about crisis management and strategic pivoting. "Navigating the bankruptcy of David's Bridal forced me to re-evaluate our strategies and become more resilient," Hilson recalls. This challenging period honed her ability to steer a company through turbulent times, a skill that she would carry forward into her role at Signet Jewelers.
Hilson's journey toward becoming a strategic leader was shaped by a series of diverse roles across the retail sector. Starting her career at Sterling Jewelers in the mid-1980s, she climbed through the ranks to become the company's first female vice president. Her subsequent tenures at Limited Brands and American Eagle Outfitters provided her with a broad perspective on retail operations and financial management.
At Signet, Hilson's strategic mindset has become evident in her emphasis on innovation and digital transformation. Along the way, she has helped the company to navigate the pandemic and championed significant investments in digital capabilities, ensuring that the company remains competitive in an increasingly online world. "Our goal is to offer connected commerce, allowing customers to interact with us whenever and wherever they choose," she explains.
Hilson's focus on team development has proved to be another cornerstone of her leadership philosophy. She believes in nurturing talent and creating opportunities for growth, both professionally and personally. "Growing my team and helping them to evolve is as important as achieving our financial targets," she is quick to observe.
Joan Hilson’s journey reflects a blend of resilience, strategic foresight, and commitment to innovation—qualities that continue to drive Signet Jewelers forward in a very competitive market.
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Angola might not top the list of destinations to which executives typically flock to build their careers, but for Julien Lafouge, it was the starting point of an extended journey. Back in 2001, Lafouge stepped into a pivotal finance leadership role with Technip, a technology provider to the energy industry. The unconventional geography forced him to develop a keen sense of resilience and adaptability, traits that would become cornerstones of his career.
Lafouge's journey from the complexities of a country marked by political instabilities to his current role as CFO at Spendesk is a testament to his knack for building teams and uprooting borders. At Spendesk, he faced the task of restructuring the finance organization to support rapid growth. Drawing on his experience, he emphasized simplification and efficiency, and championed ROI through automation and streamlined processes. The approach, Lafouge tells us, reduced the need for additional accountants by 40%, validating the power of efficient teams.
One of Lafouge’s standout moments came during the COVID-19 pandemic, when he was the CFO of ride-sharing company BlaBlaCar. With global uncertainties looming, he built a resilient financial model that ensured the company's survival. His ability to rally his team and navigate through the crisis was perhaps his career's greatest leadership test.
Investing in talent development has always been a key part of Lafouge’s philosophy. He believes in transforming "rough diamonds" into top performers through training and mentorship. This approach not only strengthens the team but also fosters a culture of continuous improvement and resilience.
Lafouge’s journey has been marked by the pursuit of new experience, whether it’s through leveraging AI for operational improvements or raising customer service standards. His career has centered on building teams and breaking boundaries, as he has continually pushed the envelope to drive financial efficiencies.
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Planful CEO Grant Halloran shares his insights on the current state of AI adoption in the enterprise, emphasizing the need to temper excitement with reality. He highlighted the importance of understanding legal and security aspects, listening to customers, and pacing AI development with their ability to use it effectively. Halloran also discussed the potential of AI to transform business processes, emphasizing the importance of a human-AI partnership and the need for customers to adapt to using the API and learn new ways to do things.
Planful CFO Dan Fletcher discusses the role of finance leaders in the age of AI. CFO Fletcher emphasizes the need for data governance and security, and stresses the importance of investing in knowledge and training to mitigate risk. Fletcher highlights the significance of preparation and experience in shaping his perspectives on AI, while drawing on his investment background. referencing his past conversations on AI-related topics.
Interviews featured in this episode include:
Mike Petrauskas, Sr. Financial Analyst, Hilb Group
Sr. Financial Analyst Mike Petrauskas of the Hilb Group discusses his efforts enhance the budgeting and forecasting processes of this dynamic ownership group of more than 80 insurance agencies. Hilb Group is aiming for a 5% EBITDA forecast accuracy. Petrauskas emphasizes the importance of better predicting when they will receive payments. NOW LISTEN
James Muscat, Group Commercial Finance & FP&A Director at Ten Lifestyle Group Plc
FP&A Leader James Muscat explains how Ten Lifestyle Group underwent a digital transformation to bring finance to the forefront as a strategic partner. Muscat also shares insights on transforming finance through technology, including the evolution of the role of finance professionals and the adoption of AI. NOW LISTEN
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