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 SUCCESS AWARD- CAPITAL
The CFO who has improved the organization’s capital structure in a novel and value-adding manner.
CHIEF FINANCIAL OFFICER, EDGE THERAPEUTICS, INC.
“Allocation of capital within your company is a balance between the classic economic dilemma of ‘unlimited wants vs. scarce resources.’ The challenge is to achieve this balance without stifling innovation, and, in fact, fueling it. One approach is to determine the amount of capital necessary to finance existing operations and devote the balance of capital available to those programs that truly enhance shareholder value, but don’t ‘break the bank.’ What we do is involve as many as possible in the allocation decision process so that there’s a sense of ownership and responsibility. This not only encourages our people to live within their budgets, but motivates them to innovate new ways to live within their budgets to meet our corporate goals.”
FINALISTS FOR CFO SUCCESS AWARD- CAPITAL
Brian Lenz, Chief Financial Officer, ADMA Biologics