CFO Studio Magazine - Curt Allen, CFO, Subaru

SUBARU’S CURT ALLENKNOWS THE SECRETS TO SELLING AS MANY CARS AS THE COMPANY CANMAKE B y a quirk of fate, Curt Allen went out to purchase his first brand-new car the same week in 1980 that he had his first job interview with the finance department at Subaru of America. He visited a Volkswagen dealership on that Monday, liked the 1980 diesel Rabbit, and said he’d be back Friday with the loan documents. But early Friday, he had the interview, at the end of which the controller said, “And the job comes with a new car.” Days later, Allen was hired to be the financial reporting manager at the Cherry Hill, NJ, headquarters of Subaru of America, and as promised he got the keys to a brand-new four- door Subaru sedan. “Life was great,” says Allen. He has driven a Subaru ever since. In those days, Subaru’s slogan was, “inexpensive and built to stay that way.” Today, the car’s success rests on its safety ratings, reliability, value, and its active lifestyle image — and arguably some of the know-how Allen manages in critical areas, like vehicle pricing. Allen’s Subaru career has been defined by hard work and a regularly evolving job description. Now chief financial officer of Subaru of America, he describes his work as one of his three passions — the others being his family and golf. In addition to the functions for which any CFOwould be responsible, he has oversight of numerous areas that lie outside of finance. What’s in his toolkit? His native New Jersey drive, a personality for the consultative and strategic, and a seasoned background in finance and accounting. Driving Success Sales success in the U.S. automobile industry rests on having a quality product. These days Subaru has just that, with three models of their seven — the Forester, the Outback, and the XV Crosstrek — in the current sweet spot: the crossover/ small SUV segment. In order to achieve record sales each quarter, however, the various models must be competitively priced; the company must offer attractive incentives through a competitive lease or financing and its trade-in program; further, the vehicle warranty and extended service offerings must be fair and competitive. Allen is involved in every one of these areas. He is not responsible for vehicle design and manufacturing (both of which contribute to the high residual value and top safety ratings Subaru cars regularly earn), but he does preside over a large number of processes and programs, all of which are integral to creating sales success. - BY JULIE BARKER - Photography by Matt Furman COVER STORY Sweet Spot In the 8 WWW.CFOSTUDIO.COM 1st QUARTER 2015