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The Commercially Attuned CFO - Craig Omtvedt, Fortune Brands, Inc.

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The Commercially Attuned CFO …

The Commercially Attuned CFO





Craig Omtvedt, a speaker at the marcus evans CFO Summit XXIV Spring 2012, on driving business growth by being commercially in sync.
Interview with: Craig Omtvedt, Former Senior Vice President & Chief Financial Officer, Fortune Brands, Inc.

Published in: Business, Economy & Finance

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  • 1. The Commercially Attuned CFO The biggest challenge for CFOs today is dealing with the new normal, the dynamic of the global economy, with slow or no growth in the US and a Eurozone crisis. CFOs need to Companies are also trying to take advantage of opportunities in the emerging markets, which many think like consider as homogenous when they are the opposite. Dealing with the owners various challenges - the on again,Interview with: Craig Omtvedt, off again interest of Russia inFormer Senior Vice President & foreign investment and theChief Financial Officer, Fortune demographics of China’s agingBrands, Inc. population versus India’s youthful industry, and a strong population - are creating interesting understanding of competitors. ThatChief Financial Officers (CFOs) dynamics. One size does not fit all. drives good decisions. Rather thanneed to be commercially attuned operating from the center, gettingand think like owners in order to How can CFOs drive shareholder out and spending time toenhance the value proposition and value in this setting? understand strengths, weaknesses,help the business achieve the risk orientation of varioussustainable growth with appropriate CFOs need to focus on the value teams, the various global marketsmargins, says Craig Omtvedt, proposition for consumers, to in which they operate, and makingFormer Senior Vice President & ensure that what is being sure that the right risk attention isCFO, Fortune Brands, Inc. “Some engineered into products and new placed at the right time is key to aCFOs are so focused on IRR that product initiatives represent strong risk program.they cause the company to lose features that customers are willingmarket share, which can ultimately to pay for. Sometimes we see a bureaucraticbe a death spiral,” he adds. or cookie cutter approach where Simply building the best product in risks are periodically weighedA speaker at the upcoming marcus the world is no longer good enough. formulaically. That does not serveevans CFO Summit XXIV Spring There needs to be a dramatic the organization well. Bureaucratic2012 in Hollywood, Florida, May outward-in focus. process can kill a business as fast17-19, Omtvedt talks about risk as too little control.management and setting up the What works well for mitigatingbusiness for success by being in risks? Here again, CFOs need to think likesync with global markets. owners and make sure that the The most important technique is mitigation procedures andWhat is the top CFO challenge simply having a hands-on programs are timely, make sensetoday? knowledge of the business and and are financially viable.
  • 2. About the CFO Summit XXIV Spring 2012 The Finance Network - marcus evans Summits group This unique forum will take place at The Westin Diplomat Resort & Spa, Hollywood, delivers peer-to-peer information Florida, May 17-19, 2012. Offering much more than any conference, exhibition or on strategic matters, professional trade show, this exclusive meeting will bring together esteemed industry thought trends and breakthrough leaders and solution providers to a highly focused and interactive networking event. innovations. The Summit includes presentations on improving profit margins, the evolving role of the CFO, risk management and strategically accessing capital in a turbulent market. www.cfosummits.com Please note that the Summit is a Contact closed business event and the number of participants strictly Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits limited. Division Tel: + 357 22 849 313 Email: press@marcusevanscy.com For more information please send an email to info@marcusevanscy.com All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to press@marcusevanscy.comAbout marcus evans Summitsmarcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discussstrategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity toindividually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings.For more information, please visit: www.marcusevans.comUpcoming EventsCFO Asia Summit 2012 - www.cfoasiasummit.comCFO Summit 2012 (Australia & New Zealand) - www.cfo-anz.comEuropean Tax Summit 2012 - www.taxsummit.comTax Officers Summit 2012 (North America) - www.taxofficerssummit.comTo view the web version of this interview please click here: www.cfosummits.com/CraigOmtvedt