FEI Newsletter August September 2011.indd - Financial Executives ...

Chicago
CFO
of the
Year sm
Awards
Thursday
November 3, 2011
5:30pm
The Sheraton Chicago
Hotel & Towers
301 E. North Water Street
FEI Chicago Members
$100
All other Guests
$150
Premier Table of 10
$1,500
Click here to
buy tickets
CHICAGO CHAPTER
On Thursday, November 3, 2011, FEI Chicago hosts the inaugural Chicago CFO of the Year sm Awards. These
awards recognize financial professionals for outstanding performance in their roles as corporate financial
stewards. FEI Chicago Chapter board member Janeen McGreal interviews Cheryl Francis, Chair of the event’s
Selection Committee.
Interview with Cheryl Francis, Chair of Selection Committee for the Chicago CFO
of the Year sm Award
By: Janeen McGreal, FEI Chicago Chapter President-Elect
JM: Cheryl, we are honored to have you Chair our Selecti on Committ ee for the inaugural
Chicago CFO of the Year Awards. Can you tell us why you agreed to Chair this Event?
CF: The role of CFO in any company is one of its most signifi cant leadership positi ons.
The CFO has the opportunity to change the trajectory of an organization for its
customers, employees, investors and its broader set of stakeholders. Identifying
CFO’s who are making this level of contribution gives them appropriate recognition
and serves as examples for others of the difference an excellent CFO can make.
Cheryl Francis
Selecti on Committ ee JM: How did you go about putting together the judging panel, and who is on it?
Chair
CF: We wanted a judging panel that represented the perspectives of people who
understand the CFO role from various vantage points. We wanted (and secured) a respected reti red CFO; a
noteworthy academic from a school known for its fi nance experti se; and a seasoned CEO with a track record of
delivering value. And we wanted all of our judges to have the experience of serving on corporate boards and
observing CFO’s from this perspecti ve. We could not have found a stronger set of judges than Bill Cernugel
(reti red CFO of Alberto Culver), Abbie Smith (Chaired Professor, The University of Chicago Booth School of
Business) and David Speer (CEO of ITW).
JM: How would you describe a “Corporate Financial Steward” in terms of his/her role and contributions to
their organization overall?
CF: I have always thought of the CFO as the person who acts as the compass for the corporati on – pointi ng
everyone toward the true north of value creation. The CFO can direct and influence the value creating
agenda of the company through a variety of systems and levers: performance metrics, communication
and education, incentive plans, strategic analysis, mergers and acquisitions. The CFO sits at the focal point
of virtually every set of activities a company undertakes to deliver value to its customers, employees and
shareholders.
JM: There are so many talented executives in Chicago, how are you going to choose the CFO of the Year?
CF: The good news for us is that this is not a “one and done” opportunity. David, Bill and Abbie will select
a deserving CFO from each category to recognize in 2011. Next year, FEI will sponsor the Chicago CFO of
the Year Awards again, and another deserving set of candidates will be considered. I have no doubt that
the award winners selected by our judges will exemplify a high degree of excellence – and set a high bar for
future award winners.
JM: How do you think the Chicago CFO of the Year Awards will contribute to the Chicago business community?
CF: The Chicago CFO of the Year Awards will increase the level of recognition for the importance of the CFO
role within the business and civic community in Chicago. It will also provide examples to organizations (for
profit and not for profit) of what an organization should be able to expect from its CFO. This will push sitting
CFOs to deliver more from their organizations and everyone will benefit.
JM: Please tell us about your background.
CF: I spent the first part of my career in finance and strategy roles. I graduated in 1978 from Chicago Booth
with an MBA and entered the business world as a corporate finance consultant. I spent 13 years at FMC
Corporation in various strategy and finance roles – ending up in the position of Treasurer of this global,
industrial conglomerate. Within the span of time I was at FMC, I took a three year hiatus when my children
were very small and I needed more control over my schedule, to teach as an adjunct professor at Chicago
Booth. From FMC, I moved to RR Donnelley as the CFO. I spent 5 years at Donnelley, leaving in 2000. In
2002, I co-founded Corporate Leadership Center, a nonprofi t focused on leadership development of corporate
executi ves, with Sheila Penrose, former President of the Corporate and Commercial side of Northern Trust
Bank. Sheila and I serve as Co-Chairmen of Corporate Leadership Center. I have served on 5 public company
4 • August/September 2011