CFO STUDIO - Key Persons
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."
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- CFO of Action Environmental Group
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."
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- Emotional Intelligence - the Executive Leadership Program / Employment
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- CFO
- President
- Keys to Transitioning from CFO to President
- President in a CFO Studio on - Camera Interview
Glenn Sblendorio, President & CFO of the Medicines Company, discusses Keys to Transitioning from CFO to President in a CFO Studio On-Camera Interview with Andrew Zezas.
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- Japan US Executives Networking Group
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- Director of Financial Services, Corporate Controller and Assistant Treasurer / Daikin America, Inc. CFO Innovation Conference
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- Principal Consultant at Net
Lisa Van Patten, principal consultant at NetSuite, an integrated cloud business software provider, offered a different perspective. "To me, it's the other way around," she said. "It's not that I want to manage my board. I want my board to manage us. As a CFO, your biggest fear is that you're going to have a rogue CEO and a board with absolutely no oversight. You want to know they are really watching our backs. You want to know that they're making sure, ‘Have you covered yourself here, because there's a risk?' That is what corporate governance is supposed to be. As a CFO, I could be personally liable for what the CEO does."
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- CFO, Discusses Leadership and Strategy Execution in a CFO Studio on - Camera Interview With Andrew Zezas
"Dinner and conversation were great. Looking forward to participating in future CFO Studio activities."
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- 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."
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.
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- Vice President at Smart Tuition
Michael Van Patten, vice president at Smart Tuition, a software company for managing tuition and school enrollment, has worked with PE-owned companies, VC-owned companies, and public companies. "I've got a lot of experience with different corporate governance bodies," said Mr. Van Patten.
He added that PEs tend to be more interested in managing the business, but this can create the danger that they will be micromanagers. "They want to control the company, and would leverage the company to the hilt. They don't have as much invested," said Mr. Van Patten. "The VCs would put more money in and not worry about the leverage, so they don't have to have control of the company."
Ray Cardonne, CFO of DLB Associates, a privately held engineering consulting firm, has past experience in finance roles at public companies. He explained that when he and the CEO at a public company would disagree about a strategy, the board's audit committee served as a neutral advisor.
"The audit committee meeting was typically the day before the full board meetings," said Mr. Cardonne. "The general counsel and I would attend the audit committee meetings and it was a way to work things out without having to go in front of the full board. After the audit committee, the GC and I would have a telephone call with the CEO to explain the outcome and say, ‘This is what the outcome is, just so you know what to expect going into the board meeting the next morning.'"
Mention of a pre-board meeting preparation sparked more dinner conversation about how decisions involving the board are really made - before the actual meeting. "I think many CFOs need to gain a better sense of how to be more politically savvy," said Lalit Ahluwalia, CFO of biotech company Ferring Pharmaceuticals. "You have to be able to build a network with the board members, so that you build your own credibility with them."
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- Chief Financial Officer / Anexinet / CFO Excellence Awards