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 SUCCESS AWARD- STRATEGY
The CFO who has led strategic initiatives that have resulted in significant enhancement of value, operations, realignment, rationalization, and/or financial performance.
CHIEF FINANCIAL OFFICER, T&M ASSOCIATES
“T&M is a full-service engineering firm, so innovating and creating strategy for us — and for any service-oriented company — is about evaluating where the industry is going and being at the leading edge of new services and the investments needed to become a top service-provider for whatever market area we’re trying to penetrate. It’s important for a CFO, or any financial executive, to be sure the success of a new strategy can be measured. You have to establish the right KPIs [key performance indicators] for the new strategy, and it often helps to separate the new strategy from the core business and measure it differently, at least at the outset. My mission over the last four or five years is to be sure that the company is positioned financially to take advantage of any opportunity that presents itself, especially opportunities that require capital from a bank or investment in enhanced benefit programs necessary to attract and retain top talent. The right medical, 401(k), and other executive compensation plans are key in our business, and we are constantly evaluating those to be sure that we have them appropriately structured and financed correctly.”
FINALISTS FOR CFO SUCCESS AWARD- STRATEGY
Barry Lederman, Chief Financial Officer, Halo Pharma