CFO Studio Magazine with Craig Steeneck, CFO, Pinnacle Foods

3rd QUARTER 2015 WWW.CFOSTUDIO.COM 25 N avigating the relationships between members of the board and the company’s executives is an important skill for a CFO to master. In order to successfully fulfill their leadership roles within their organizations, finance executives have to refine their approach to corporate governance. Recently, CFO Studio hosted its Executive Dinner at Al Dente in Piscataway, NJ, where guests gathered over food and drink to discuss their experiences working with and serving on boards. The dinner meeting was one of a series of gatherings of CFOs, which was underwritten by BDO, an assurance, tax, financial advisory, and consulting firm; and hosted by Real Estate Strategies Corporation, a corporate real estate advisory and consulting firm. Michael Mardy, executive vice president and CFO of Tumi Holdings Inc., a wholesaler and retailer of a range of travel and business products, led a discussion entitled “Corporate Governance: The Good, the Bad, and the Ugly.” Mr. Mardy has served on several boards throughout his career, including Green Mountain Coffee Roasters, Inc. and ModusLink Global Solutions, Inc. “Once they hit a certain point in their lives, a lot of people want to become board members,” said Mr. Mardy. “But, it’s probably vastly overrated as a gig you can have in retirement. Generally, it is a lot of work, it exposes you to legal liability, and it exposes you to working with other people who might be problematic.” “When you manage a board, you realize the world of corporate governance is imperfect, at best,” said Mr. Mardy. “It can be dysfunctional. It can be contentious. It can be counterproductive to managing the business.” Private Equity vs Venture Capital The executives discussed governance under private equity (PE) and venture capital (VC) structures, A discussion of the good, the bad, and the ugly in dealing with corporate governance The comments made by these guests are their own and may not reflect the opinions and/or policies of their companies or of CFO Studio, Real Estate Strategies Corporation, and/or its promotional partners. CORPORATE GOVERNANCE AND THE CFO PROMOTIONAL PARTNER: EVENTS EXECUTIVE DINNER SERIES