CFO Studio Magazine with Craig Steeneck, CFO, Pinnacle Foods

28 WWW.CFOSTUDIO.COM 3rd QUARTER 2015 board members, so that you build your own credibility with them.” Brian Giambagno, CFO of Action Environmental Group, a provider of waste collection services, agreed. “More big decisions are made at the bar before or after the board meeting than during the board meeting,” he said. “Everybody knows everybody.” Is the Board’s Decision Final? The group also acknowledged that there are many times when the CFO cannot press the board on what he or she truly believes is the right decision. In fact, many times, a CFO has to back down. “You can say you will do the right thing [for the company’s financial health] even if you have to lose your job, but at the end of the day, it’s much easier said than done,” said Walter Cirillo, treasurer of AeroGroup International, a privately held company. “It’s all about the personalities, and, I hate to say it, but in many ways, it’s survival. The bottom line is, unless you’re being asked to do something illegal, most of the time, you’re just going to go along with the CEO, or with the board, because that’s part of the job.” Baldeep Dua, CFO of Kirusa Inc., an international software company, agreed with Mr. Cirillo. “Unless it’s illegal, you’re made to go along with the CEO or the board,” she said. “As a CFO, you’re a strong voice in the boardroom. All you can say is you have an opinion. If there are five or 10 people who agree on a strategy, and you disagree, your voice is important, but may not be the loudest. Ultimately you have to do what the team says. You should have a strong opinion, but you cannot override, no matter what your reservations may be.” Andrew Zezas, publisher of CFO Studio and CEO of Real Estate Strategies Corporation, summed up the consensus of the group. “However the decisions are ultimately made, it is important to fight when necessary to do what you believe is right for the business,” he said. “Ultimately, the board may know about financial engineering, but you know how to run your business.” C Achieving Balance in Your Company’s Occupied Real Estate As your company evolves, achieving balance will be essential to its success. That’s true of the real estate your company occupies, too. Balancing transaction structure of multiple properties requires intelligent planning, not only of your company’s real estate, but more importantly based on your company’s operational, financial, M&A, and other objectives. At Real Estate Strategies Corporation, we plan and execute portfolio-wide and single transactions to enhance our clients’ real estate and their businesses. So, before you consider another transaction anywhere in North America, contact our CEO, Andrew Zezas, for a confidential discussion about how your company can achieve greater and more profitable balance in its occupied leased or owned real estate. Advisors to CFOs, General Counsels, Management, and Boards Licensed Real Estate Broker in Multiple States 732.868.0000 x111 L to R: Andrew Savadelis, John Breeman EVENTS EXECUTIVE DINNER SERIES