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 AS COO AWARD
The CFO who is more than a financial leader, but has demonstrated a unique blend of operational and strategic impact on the overall organization’s goals and mission. Judges looked for a CFO who, for instance, is setting pricing policy or influencing acquisition strategy.
CHIEF FINANCIAL OFFICER, TUMI HOLDINGS
“When a CFO takes on the role of a COO in addition to a more traditional CFO role, he or she needs to be as innovative as possible, thinking creatively as an operator and entrepreneur as opposed to a risk-averse financial type — the traditional role of a CFO. This is outside the comfort zone for many CFOs but an innovative approach to the role can be the difference between success or failure for the individual and the enterprise. Innovators are not afraid to embrace risk, provided the risks are calculated, and are not afraid of failure because out of failure the most fruitful lessons are learned. …Doubt — facing risk of the unknown — is part of every business decision, whether strategic or tactical. The objective is to look at every detail surrounding the problem or decision, assess the risk associated with each aspect of the risk, surround oneself with people smarter than yourself, seeking their counsel and advice, and then take the plunge with eyes open and the clarity that the process brings. One can still have doubt without being frozen in indecision. This is an inherent part of the ‘fun’ of running a business.”
FINALISTS FOR CFO AS COO AWARD
Richard Antoneck, Chief Financial Officer, Veritext
Scott Gellman, Chief Operating and Financial Officer, Kurtosys Systems
William Hendry, Chief Financial Officer, Dancker, Sellew & Douglas
Maxine Nordmeyer, Chief Financial Officer/Chief Executive Officer, Bihler of America, Inc.
David Rockwood, Chief Operating and Financial Officer, Rema Foods, Inc.