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Tuesday, Jun 6, 2023

Bottom Line Impact of Chief Financial Officers

With one foot in the past, the other solidly in the here-and-now, and their eyes on the future, chief financial officers are far more than bean counters, number crunchers or statisticians. Sure, they need to be good at all of these things, but CFOs also have to be able to see the big picture. A 2001 survey of 42 mid-sized companies across the United States found that 93 percent of mid-size company CFO’s feel they are under increased pressure to become more strategic. The Geller & Company study also found that 79 percent of the companies surveyed had the lead responsibility for at least one of their company’s strategic initiatives. CFO’s are “the chief stewards of the company finances,” said de Winter Stewart, regional vice president, consulting services, Robert Half International. “Their impact reaches far beyond numbers.” That statement was confirmed by the more than 75 nominations received for the Business Journal’s inaugural Top Valley CFOs recognition program. After winnowing out those who did not meet five minimum requirements (see sidebar), we ended up with 45 individuals from both for- and not-for-profits. Here are just a few of the words of glowing praise included with the nomination forms: “Juliet is one of the hardest working people that I know,” wrote Victor Berrellez, vice president of City National Bank about Juliet Churchill of Davis Wholesale Electric. “John was instrumental in the recent sale of Symark by its principals to a private equity shop,” said Greg Hutchins of Holthouse, Carlin & Van Trigt about John Kendrick. “Howard has been the backbone for Tower ,” wrote Alex Guerrero, executive vice president of Tower General Contractors about his own CFO, Howard Miller.

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