Three Questions for Panasonic CFO, Michael Riccio

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Q: If you weren’t a CFO, what would you be?

Probably a math teacher. I always enjoyed mathematics and was planning on majoring in that, until two uncles sparked my interest in accounting and finance.

Q: In one position or the other, you’ve worked with Panasonic in accounting and finance for about 27 years. How have those functions changed during nearly three decades?

Accounting used to primarily be a transactional function, but now it’s more analytical; along with that, CPAs used to think of themselves as being in accounting management, but now we see our position as one of business support. The traditional reporting and other responsibilities are still there, but we’ve become part of the support, instead of just a recorder.

Q: What’s the coolest thing about Panasonic?

The company has a rich tradition, but it’s also open to change. When an employee joins Panasonic they learn about the company’s nearly century-old culture as well as its business principles and how the vastly different business segments all mesh. But Panasonic continues to innovate — that was clear when the decision was made to move from being a consumer products company to one that provides solutions. We realized that it needed to be done if we wanted to be around long enough to be a 200-plus-year-old company.

 

Copyright 2017