The financial landscape is constantly shifting and CFOs are in high demand as companies navigate these uncertain times. The past month has seen a flurry of CFO moves, indicating these executives' critical role in steering organizations toward stability and success. With this in mind, it's important for CFOs to stay ahead of the curve and adapt to new trends and challenges. This article highlights those who moved into new CFO roles in January as well as five tips to ensure their success in the ever-changing financial environment.
CFO Pros on the Move January 2023
Matthew Cagwin | Western Union
Western Union appointed Matthew Cagwin as its permanent CFO. Cagwin joined the company in July 2022 as the head of financial planning and analysis and was later appointed interim CFO. Prior to joining Western Union, he was CFO at First Data (now Fiserv) and Vice President of European Controller and Strategic Initiatives at Coca-Cola.
Gavin Lindberg | Metagenics
Metagenics, a nutritional supplement company, has appointed Gavin Lindberg as its CFO. Lindberg brings 18 years of experience from Nike, where he held various senior finance positions. Most recently, he served as CFO at JustFoodForDogs, a manufacturer of fresh food for dogs.
Jessica Holscott | Authentic Brands
Jessica Holscott has been appointed as the new CFO of Authentic Brands, a brand development, marketing, and entertainment platform. Holscott previously served as CFO at Warner Media. Holscott replaces Kevin Clarke, who has taken on a new role as Executive Vice Chairman.
Bea Ordonez | Payoneer
Bea Ordonez has been named deputy CFO of Payoneer, a payment services provider. With over 20 years of experience in the financial services sector at the C-suite level, Ordonez comes to Payoneer from her previous role as CIO at Webster Bank.
Michael McLaughlin | Informatica
Informatica, a company specializing in enterprise data management, has named Michael McLaughlin as its new CFO. McLaughlin joins Informatica from FICO, where he has served as CFO since August 2019.
Matt Mercier | Digital Realty
Matt Mercier has been promoted to the position of CFO at Digital Realty, a data center platform provider. Mercier, who joined the company in 2006, was previously the Senior Vice President of Global Finance and Accounting. Prior to that, he had worked in asset management at Equity Office Properties Trust and was an auditor at KPMG.
Brian Berning | Experity
Brian Berning was named CFO of Experity, an on-demand healthcare provider. He joined the company in July 2022 as chief corporate development officer from Corza Health, where he served as managing director. Prior to that, Berning was CFO at Great Call and Human Longevity.
Cristina Tate | Extreme Networks
The senior vice president and head of financial planning and analysis, Cristina Tate, will take over as interim CFO as Rémi Thomas resigns after four years as CFO of Extreme Networks. Before joining Extreme, Tate was at Micro Focus and Hewlett-Packard’s Software business unit.
Joe Furnari | Employ
Employ, a recruiting and talent acquisition company has appointed Joe Furnari as its CFO. Furnari previously served as Vice President of Finance at Dynatrace, a global technology company. He has also held financial leadership roles at Nuance Communications, Wyless, and Mimecast.
Julie Hakim | Capsida Biotherapeutics
Capsida Biotherapeutics has appointed Julie Hakim as its new CFO. Hakim previously served as CFO at Sequoia Vaccines and held positions of increasing responsibility at Lundbeck, a Copenhagen, Denmark-based company, ending as the Senior Vice President and Head of Human and Financial Resources for North America.
Five Tips for CFO Success
The role of a CFO has evolved beyond just managing spreadsheets. As a CFO, success requires a broad understanding of business operations, technology trends, and regulatory requirements.
To thrive in today's fast-paced and constantly evolving business environment, CFOs must be proactive, strategic, and flexible in their approach to financial management. Here are five key tips for CFO success that can help guide their efforts to drive financial growth and stability in the organization:
1. Embrace Technology
Technology is changing the finance landscape at an unprecedented pace. To stay ahead of the curve, CFOs must embrace technology and invest in digital transformation initiatives that drive innovation and efficiency in financial management. This includes utilizing cloud-based solutions, automating manual processes, and implementing real-time analytics tools to gain deeper insights into financial data. By leveraging technology, CFOs can make better-informed decisions, improve the accuracy and timeliness of financial reporting, and enhance the overall performance of the finance function.
2. Emphasize Data-Driven Decision Making
In today's data-driven world, CFOs must lead the charge in using data and analytics to inform financial decisions. This means gathering and analyzing vast amounts of data from multiple sources and using it to measure performance, identify trends, and make informed predictions about future financial outcomes. CFOs must also ensure that data is accurate, reliable, and properly managed to ensure the organization makes the best use of it. By embracing data-driven decision-making, CFOs can improve the accuracy and effectiveness of financial decisions, and drive better business outcomes.
3. Foster Collaboration
CFOs must work closely with other departments, such as sales, marketing, and operations, to align financial goals and better understand the business. This requires effective communication and collaboration, as well as a deep understanding of the business's needs, goals, and priorities. By collaborating with other departments, CFOs can gain a more comprehensive understanding of the business, and work together to develop and implement more effective financial strategies. This can lead to better alignment of resources, improved decision-making, and ultimately, better business outcomes.
4. Prioritize Cybersecurity
With the increasing threat of cyber-attacks and data breaches, CFOs must take a proactive approach to secure sensitive financial data and systems. This includes implementing strong security protocols, conducting regular security assessments, and investing in cutting-edge cybersecurity solutions. By prioritizing cybersecurity, CFOs can ensure the protection of the company's reputation and assets, and maintain the trust of stakeholders, customers, and investors.
5. Develop a Long-Term Vision
In today's rapidly changing business environment, CFOs must have a long-term vision for the organization's financial growth and sustainability. This requires anticipating market changes, managing risks proactively, and making strategic investments in new initiatives and technologies. By developing a long-term vision, CFOs can ensure the organization's financial stability, growth, and success over the long term, and ultimately drive better business outcomes.