“Rainmakers” Tax Exempt CFO Award- The For-Profit Mind-Set

As Seen in CFO Studio Magazine Q3 2016 Issue

THE WINNERS OF THE 2016 CFO INNOVATION AWARDS SHARE THEIR THOUGHTS ON STAYING AHEAD OF THE CURVE

Innovators are men and women who make a difference in their chosen endeavors. Through their energy, leadership, identification of opportunities and risks, big thinking, unwavering dedication, and farsightedness, the 12 CFOs being honored this year are bettering 12 companies or tax-exempt organizations. Their bold actions have brought increased resources and/or respect to their employers. We asked each of the winners what they would say about CFOs as innovators. Several spoke about creating or carrying forward the company’s strategy. Others mentioned getting the most from their team. What these CFOs do every day is not unique, but it is highly successful because they have clear goals, leadership agility, and a plan for dealing with risk.

TAX EXEMPT CFO AWARD- THE FOR-PROFIT MIND-SET

The CFO who has successfully led his or her organization to achieve greater efficiencies and success, and has inspired leadership, employees, donors, funders, and other partners to drive the organization to compete and achieve more as if it were a for-profit company.

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BOB BARRY

CHIEF FINANCIAL OFFICER, COMMUNITY FOODBANK OF NEW JERSEY

“As the CFO for the Community FoodBank of NJ, a nonprofit organization, I must always think with a for-profit mind-set, because we do have stakeholders who depend on us. While these stakeholders are not looking for a dividend from profits, they need something far more important. The Community FoodBank of NJ must be financially prudent so that it can fulfill its mission of providing food, help, and hope to those in need within New Jersey. With this being my guiding principle, I must always be innovative to be ahead of an ever-changing and challenging business environment.”

FINALISTS FOR TAX EXEMPT CFO AWARD- THE FOR-PROFIT MIND-SET

Beth Gibson, Senior Vice President/Chief Financial Officer, New York Blood Center

“Rainmakers” CFO Industry Transformation Award

As Seen in CFO Studio Magazine Q3 2016 Issue

THE WINNERS OF THE 2016 CFO INNOVATION AWARDS SHARE THEIR THOUGHTS ON STAYING AHEAD OF THE CURVE

Innovators are men and women who make a difference in their chosen endeavors. Through their energy, leadership, identification of opportunities and risks, big thinking, unwavering dedication, and farsightedness, the 12 CFOs being honored this year are bettering 12 companies or tax-exempt organizations. Their bold actions have brought increased resources and/or respect to their employers. We asked each of the winners what they would say about CFOs as innovators. Several spoke about creating or carrying forward the company’s strategy. Others mentioned getting the most from their team. What these CFOs do every day is not unique, but it is highly successful because they have clear goals, leadership agility, and a plan for dealing with risk.

CFO INDUSTRY TRANSFORMATION AWARD

The CFO who has successfully transitioned from the position of CFO in one industry to the position of CFO in a company in an unrelated industry, and who has by applying experiences, insights, and skills from the previous CFO position had a significant impact on the new organization’s success.

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ARLEN SHENKMAN

CHIEF FINANCIAL OFFICER, SAP NORTH AMERICA

“Decisions about how to allocate capital are complex, and depend upon many interrelated factors. The role of innovation is a key consideration. It influences how much of your available capital you’re going to invest in R&D and over what period of time you will look for your payback. It influences the amount of risk you’re willing to take and how you will seek to balance the long- and short-term interest of your shareholders. Investment decisions are not considered in isolation, but need to be judged in light of the strategy you’ve applied across the business. A decision to try to build new products needs to be assessed in relation to your broader capital deployment strategy to ensure a balanced risk and reward profile for your shareholder base.”

FINALISTS FOR CFO INDUSTRY TRANSFORMATION AWARD

David Feit, Chief Financial Officer, Pearl Capital Business Funding

“Rainmakers” CFO as COO Award

As Seen in CFO Studio Magazine Q3 2016 Issue

THE WINNERS OF THE 2016 CFO INNOVATION AWARDS SHARE THEIR THOUGHTS ON STAYING AHEAD OF THE CURVE

Innovators are men and women who make a difference in their chosen endeavors. Through their energy, leadership, identification of opportunities and risks, big thinking, unwavering dedication, and farsightedness, the 12 CFOs being honored this year are bettering 12 companies or tax-exempt organizations. Their bold actions have brought increased resources and/or respect to their employers. We asked each of the winners what they would say about CFOs as innovators. Several spoke about creating or carrying forward the company’s strategy. Others mentioned getting the most from their team. What these CFOs do every day is not unique, but it is highly successful because they have clear goals, leadership agility, and a plan for dealing with risk.

CFO AS COO AWARD

The CFO who is more than a financial leader, but has demonstrated a unique blend of operational and strategic impact on the overall organization’s goals and mission. Judges looked for a CFO who, for instance, is setting pricing policy or influencing acquisition strategy.

michaelmardy

MICHAEL MARDY

CHIEF FINANCIAL OFFICER, TUMI HOLDINGS

“When a CFO takes on the role of a COO in addition to a more traditional CFO role, he or she needs to be as innovative as possible, thinking creatively as an operator and entrepreneur as opposed to a risk-averse financial type — the traditional role of a CFO. This is outside the comfort zone for many CFOs but an innovative approach to the role can be the difference between success or failure for the individual and the enterprise. Innovators are not afraid to embrace risk, provided the risks are calculated, and are not afraid of failure because out of failure the most fruitful lessons are learned. …Doubt — facing risk of the unknown — is part of every business decision, whether strategic or tactical. The objective is to look at every detail surrounding the problem or decision, assess the risk associated with each aspect of the risk, surround oneself with people smarter than yourself, seeking their counsel and advice, and then take the plunge with eyes open and the clarity that the process brings. One can still have doubt without being frozen in indecision. This is an inherent part of the ‘fun’ of running a business.”

FINALISTS FOR CFO AS COO AWARD

Richard Antoneck, Chief Financial Officer, Veritext

Scott Gellman, Chief Operating and Financial Officer, Kurtosys Systems

William Hendry, Chief Financial Officer, Dancker, Sellew & Douglas

Maxine Nordmeyer, Chief Financial Officer/Chief Executive Officer, Bihler of America, Inc.

David Rockwood, Chief Operating and Financial Officer, Rema Foods, Inc.

Copyright 2017