Many of America’s Best CFOs Started in Accounting or Auditing
Institutional Investor magazine has completed their third annual “America’s best CFOs” ranking. They asked brokerage firm research analysts and portfolio managers to name the Best American CFOs across 62 industries. The voting criteria started at keeping clean books and communicating effectively with the market and ascended to going beyond traditional number-crunching, cost-controlling roles, improving operations, driving revenue growth, and executing big acquisitions.
Vinay Couto, a vice president at consulting firm Booz Allen Hamilton, told Institutional Investor, “CFOs have spent the past decade or so moving from being bookkeepers to being business partners. In the past year or two, we’ve seen that trend accelerate to the point where a growing number of CEOs are asking CFOs to step even further outside the traditional bounds of their positions and be responsible for pushing the business forward in an active way.”
“There are a lot of CFOs out there that are controllers with fancy titles. They know how to say no, and they’re good at cost cutting. But what CEOs want now are people who can think beyond cost controls and help grow the business. We’re entering a phase of the business cycle where things are growing again, and CFOs have to change their stripes,” Laurence Stybel, co-founder and founder of Stybel Peabody Lincolnshire in Boston, told Institutional Investor.
Several of the CFOS on this year’s list started in the accounting or auditing world. Jeffrey M. Boromisa is Senior Vice President and Corporate Controller of the Kellogg Company. He joined Kellogg in 1981 as a senior auditor. Boromisa is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants.
Mike Van Handel is the Executive Vice President and CFO for Manpower. In 1989, he joined the company as Director of Internal Audit and was named Vice President of International Accounting in 1993, but his career track didn’t stop there. He was named Chief Accounting Officer and Treasurer in 1995 and became Senior Vice President and CFO in 1998. Van Handel became Executive Vice President in 2002. He came to Manpower after serving as Audit Manager at Arthur Andersen & Company.
Christopher Kubasik is the Executive Vice President and CFO of the Lockheed Martin Corporation. He is Chairman of the Board of Directors of the Lockheed Martin Investment Management Company that manages the company’s pension assets. He handles all corporate aspects of financial strategies, processes, and operations. Kubasik was at Ernst & Young before coming to Lockheed Martin, becoming a partner in 1996, specializing in government contracting and high technology companies.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.