CFO Studio Magazine with Craig Steeneck, CFO, Pinnacle Foods

K eith Kendall held a number of leadership positions with large companies like AT&TCapital and Hewlett-Packard Financial Services, but he had never been a CFO before joiningWarren, NJ–based MonoSol Rx in 2006.The then- startup specialty pharmaceutical company developed a dissolving film the size of a postage stamp that makes it easier to deliver prescription drugs. From the start, Kendall took on management responsibilities that went beyond the traditional financial aspects —he worked closely with then-CEOMark Schobel to chart a course of development for the company. Over eight years, the two worked in tandem to raise more than $100 million of capital, and they spun the company off from its original parent, Monosol, LLC. Kendall quickly came up to speed on the ins and outs of the pharmaceutical industry, and was soon asked to expand his role to lead several key functions in the business, helping to further spur Monosol Rx’s growth by expanding the customer base and shepherding new product development. Kendall’s relationship with his CEO, and the knowledge and experience he built in the pharmaceutical industry as CFO, helped himdevelop the skills needed to runMonoSol Rx. In December 2014, Schobel shifted into the role of Chief Technology and InnovationOfficer, and the board appointed Kendall as the company’s newCEO. The 200-employee, privately held company doesn’t disclose revenue numbers, but it sells and licenses its products around the world, delivering more than 2 billion doses since 2008 and over 250 million doses in 2014 alone. Background a Springboard “As CFO at MonoSol Rx, I was a business executive who happened to lead the finance function,” Kendall explains. Prior to joining MonoSol Rx, Kendall worked with Irv Rothman at both AT&T Capital and at HP Financial Services. (As profiled in CFO Studio Q1 2013, Rothman also rose from being a CFO— at AT&T Credit Corporation, becoming president and CEO of HP Financial Services). During his tenure at these companies, Kendall appraised the value of potential business acquisitions, completing the due diligence necessary before acquiring new assets. Underpinning Kendall’s practical business experience is a powerful knowledge base: an undergraduate degree in accounting and economics from Saint John’s University, and an MBA from Pace University. “I had the opportunity to form and run joint venture businesses and I ultimately had the opportunity to run large business units or segments,” he says. “The financial role affords a A STRONG FINANCIAL BACKGROUND AND EXECUTIVE LEADERSHIP SKILLS WERE THE IDEAL COMBINATION FOR STEPPING UP TO CEO BY MARTIN DAKS 12 WWW.CFOSTUDIO.COM 3rd QUARTER 2015 FEATURED CFO TOP IN THE SPOT Photography by Jibran Aslam