CFO THOUGHT LEADER

Max Krakowiak stood on the pitcher’s mound, ignoring the first drops of a Seattle rain. A shout from a less-than-faithful fan filled his ears as he prepared to throw his next pitch. In this moment, he had no idea that his baseball career was about to take an unexpected turn, as a random off-the-field injury would soon end his time in the minor leagues and force him to hang up his cleats. However, what Krakowiak didn’t realize then was that his days on the mound would end up providing him with lessons that would last for years to come.

As he transitioned into the world of finance—initially, through GE’s Financial Leadership Program—Krakowiak began to understand that the high-pressure moments in his baseball career had indeed been not very different from those encountered in corporate finance. “In baseball, you can get the best hitters to fail seven out of 10 times,” he reflected. “You have to focus on what’s in your control—your preparation, your mind-set, and how you engage with your team.”

Such is the frame of mind that has proven invaluable to Krakowiak in finance, where uncontrollable market forces can instantly and otherwise dictate outcomes.

Whether he was on the mound or handling investor calls, Max honed his ability to perform under pressure. “I’ve had some bad pitching performances in front of large crowds, and it made me a little numb to that anxiety,” he shared. That resilience, combined with his experience navigating tough conversations at GE, gave him the confidence to lead. Today, as CFO of Revvity, Max tells us he still brings that same focus and poise to every decision, balancing pressure with preparation—on the mound and in the boardroom.

In the season two premiere of Controllers Classified, host Erik Zhou welcomes Matt Didden, Controller at NexHealth. The conversation begins with a recount of how Matt landed in accounting after graduating in the 2007-2008 financial crisis and realizing that the world would always need accountants. It then highlights his transition from consulting/audit to client side, and the broadening of his scope from pure financial reporting to handling a myriad of complex business challenges.

The episode then turns to its primary focus: accounting considerations in highly regulated industries. Matt points to specific examples - like the anonymization of patient information in line with HIPAA before bringing it into an ERP system - where he’s had to marry accounting best practices and standards with broader industry regulation and requirements.

When Josh Schwartz arrived at Medidata, the life sciences innovation company was entering unfamiliar waters. Having just gone public, Medidata was shifting from a fast-growing startup to a more structured, scalable organization. For Schwartz, who initially led revenue recognition, this was the beginning of both a personal and professional evolution that would mirror the company’s own transformation. “It was a point in time where we were starting to bring in specialization, starting to think about really scaling up our business and thinking about the future,” he recalls.

As Medidata scaled, so did Schwartz's responsibilities. His stubborn curiosity led him to explore beyond his initial role, uncovering inefficiencies and taking on more of the finance function. “I just started asking questions and driving people crazy,” he says, noting that his eagerness to improve processes soon expanded his role across finance. This growth trajectory from accounting to eventually becoming CFO in 2022 parallels the evolution of Medidata’s financial operations.

Similarly, the metrics that once guided Medidata’s growth had to evolve as well. Early on, Josh explains, “We were focused on how many products our customers were using.” But as Medidata transformed into a platform-based organization, the metrics shifted. “It’s no longer about products; it’s about how much data we are driving through the platform.”

This alignment between Josh’s career journey and the company’s evolving metrics highlights the adaptive approach both have taken to fuel Medidata’s latest growth chapter. Today, Josh leads a finance team that embodies the same forward-thinking approach he embraced early in his career, constantly rethinking metrics to drive growth.

Twenty-seven years ago, while in his late twenties, Mark Partin arrived inside the C-suite largely unprepared for the flood of challenges that would quickly breach his desk. Or so Partin tells us as he recounts the circumstances surrounding the first of five CFO appointments that have thus far punctuated his finance leadership career.

“I can and do love to suffer,” Partin comments, describing the experience as being “over my head” and demanding him to “level up,” or constantly “reach to the next level” to succeed.

For Partin, who had been named CFO of a publicly traded company despite his young age and lack of prior CFO experience, success in the role can be attributed to his unique partnership with the CEO. “He allowed me to have that role and the Board did because he was to be my mentor, and he would help me along the way,” explains Partin. Still, there’s no question the CEO got something valuable in return, given Partin’s “level up” mindset and his willingness to work harder than anyone else.

This first CFO role cemented Partin’s belief that the CEO–CFO partnership is the most critical relationship in any company. This CEO, whom Partin describes as a “driver,” was dependent on Partin’s success, reinforcing how essential trust and collaboration are in shaping any firm's future. This experience influenced Partin’s leadership approach in the four CFO appointments that followed, in which he continued to rely on many important and purposeful strategic partnerships.

Now, after nearly a decade as CFO of BlackLine, Partin tells us that he still believes that "leveling up" and fostering strong CEO relationships have been key drivers of whatever his success may continue to be, guiding his strategic mindset and pragmatic leadership to this day.

It wasn’t long after Laura LaPeer left public accounting to climb the corporate career ladder that she encountered her first delicate challenge as a corporate controller. Just a year into her new role, her employer was acquired, and LaPeer was unexpectedly asked to explain complex working capital issues to the new owners. The head of finance for the acquired firm struggled to present the information clearly, and the new owners were becoming frustrated. LaPeer instinctively stepped in, simplifying the complex details and demonstrating her ability to distill intricate financial data while effectively reading the room.

This experience, though it occurred prior to her joining Plante Moran, laid the foundation for her approach to leadership. By the time she was recruited as the controller at Plante Moran, LaPeer had already honed her ability to navigate complex situations and build relationships. The firm’s collaborative culture and the promise of a CFO role within a few years aligned perfectly with her leadership ethos. Her early experience not only solidified her decision-making and communication abilities but also prepared her for the strategic demands of Plante Moran’s finance function.

In the mid-2000s, the world’s attention increasingly turned toward Asia, driven by the region’s rapid economic growth – not to mention the 2008 Beijing Olympics. It was within this atmosphere of excitement and potential that Joey Wong made a pivotal career decision. Having grown up in Los Angeles after her family immigrated from Hong Kong, Wong had always been drawn to math and science, a passion that led her to MIT, where she studied economics and business. Initially, Wong’s goal was to pursue a career in government economic policy, but the lengthy academic path it required made her rethink her future. “I realized that would mean many more years of studying before I had the credentials,” she recalls. Determined to put her skills into practice, Wong set her sights on business instead. Feeling a deep connection to Asia and recognizing that her Chinese language skills could provide a competitive edge, she took a bold step and accepted an internship with Morgan Stanley in Hong Kong.

Immersed in the vibrant financial markets of Asia, she initially focused on media and telecommunications companies—two sectors experiencing significant growth in the region.

Today, as CFO of Lenovo’s Asia Pacific PCSD division, Wong continues to leverage her deep expertise in regional markets, utilizing the financial and strategic acumen she developed early on. Her understanding of the business landscape in Asia has made her a key player in Lenovo’s growth story, driving initiatives that capitalize on the region’s evolving opportunities.

In an interesting twist, the same Beijing Olympics that helped attract Wong back to Asia also played a significant role in shaping Lenovo’s global brand image. As an official sponsor of the 2008 Games, Lenovo provided over 30,000 pieces of equipment, including PCs and servers, showcasing its technological prowess on the world stage. It’s fitting, then, that the event which in part first sparked Wong’s desire to return to Asia also foreshadowed her future at Lenovo, where she now contributes to the same brand that made headlines during the Games. In some ways, that excitement of the games not only marked the start of an era for Asia but also the beginning of Wong’s career.

In this episode of Planning Episodes hosted by Jack Sweeney and Brett Knowles, three CFOs—Don McGuire of ADP, Scott Blackley of Oscar Health, and Patrick Fleury of TeraWulf—share their insights on financial planning and analysis (FP&A), with a focus on navigating complex business environments. Through their stories, listeners will gain a deeper understanding of how these finance leaders simplify intricate financial models, communicate effectively with stakeholders, and align strategic decisions with business growth.

When the opportunity to help lead the corporate travel business at Expedia arose, Regi Vengalil knew it was exactly the role he had been seeking to put his CFO role in gear. Stepping into the CFO position meant overseeing a business unit with $600 million in revenue and $120 million in EBITDA, and Vengalil was eager to take on the challenge. Prior to this, he had been leading a team of strategy and M&A professionals, but the new role offered a much broader scope of responsibility.

“It was a way for me to jump in with both feet to kind of get a full, you know, it wasn’t just a pure FP&A role. I had commercial finance, I had accounting. I even had a systems team. I had financial operations. So it was a full CFO role and a global team that I still knew very well, because I had led strategy for the company,” Vengalil recalls.

This transition marked a critical point in his career. It was only about two years earlier, that Vengalil tells us upon joining Expedia corporate development he immediately became thrust into high-level decision-making, including a meeting with Chairman Barry Diller and CEO Dara Khosrowshahi. During the meeting, Vengalil was tasked with providing input on a strategic deal. After Khosrowshahi expressed support for the deal, Diller turned to Vengalil, who was new to the room, and asked, “Hey, new guy! What do you think?” Vengalil, though it was his first week, confidently laid out the reasons why he thought the deal posed more risk than reward, despite its appeal.

Reflecting on their relationship, Vengalil observed a deep mutual respect between the two leaders, forged during years of close collaboration. Khosrowshahi, who had been with the company for over a decade, had worked closely with Diller on many deals, and Vengalil noted the rapport they shared, particularly in how they approached complex issues.

Diller, known for his sharp insights and high standards, preferred discussions to be clear and lucid. “If you don’t understand the complexity,” Vengalil observed, “you won’t be able to communicate it simply.” This demand for clarity pushed Vengalil to deliver concise, well-reasoned perspectives, an expectation that both challenged and strengthened his leadership capabilities. This early exposure to Diller’s precision-thinking had a lasting impact on Vengalil’s strategic mindset.

In 2012, after nearly two decades in the airline industry, Zane Rowe made a bold career pivot. Leaving behind his role as CFO at United Airlines, Rowe stepped into the tech world, joining Apple in a sales role—a move many saw as risky but one that would ultimately shape his perspective on finance leadership in the digital age. This decision marked the beginning of a transformative journey that prepared Rowe to navigate the complexities of technology, innovation, and data-driven strategies.

Rowe’s time in the airline industry laid a solid foundation for his analytical mindset. Reflecting on his experience, he stated, “I recognized early on the power of data and the power of technology and how it could differentiate a good airline from a bad airline.” As he tackled the capital-intensive, data-heavy world of aviation, he developed an appreciation for how technology and data could unlock operational efficiency. His work on profitability models helped him understand how data could unlock hidden insights, a lesson that would become crucial in his later roles in the tech sector.

In his roles at EMC and VMware, Rowe saw firsthand how technology could revolutionize business operations. His ability to bridge financial expertise with technology adoption became a defining strength. Now, as CFO of Workday, Rowe applies those lessons to the evolving world of artificial intelligence (AI). For him, AI is not just a tool to streamline processes, but a strategic asset that can unlock untapped value, differentiate companies in competitive markets, and drive business transformation.

Rowe views AI as an extension of his long-standing belief in the importance of data. By leveraging AI to analyze massive data sets, CFOs can make faster, more informed decisions. This, he believes, enables finance leaders to be not just stewards of the bottom line but key players in shaping company strategy and future growth. Rowe’s multi-industry career journey, with its blend of traditional finance and cutting-edge technology, has uniquely equipped him to lead in the age of AI.

In 2018, Daniel Welch made a life-altering decision. After a decade in investment banking, working on high-profile IPOs and M&A deals at Morgan Stanley, Welch found himself at a crossroads. The birth of his daughter and a health scare involving his father led him to question the career path he was on. “I was mentally stimulated by the work, but it didn’t align with my personal values,” Welch reflects. Burnt out and seeking more purpose, he left the corporate finance world to pursue mission-driven opportunities in the health and wellness sector.

Welch’s career pivot first brought him to Sonos, where he helped lead the company through its IPO. He later transitioned to Oura, the maker of the Oura Ring, guiding the company through a critical growth stage. These experiences solidified his desire to combine financial expertise with personal passion.

In 2022, Welch found his ideal role as CFO of Kate Farms, a plant-based medical nutrition company revolutionizing the field. Kate Farms focuses on providing organic, plant-based nutrition products, free of common allergens and designed to improve health outcomes for patients in medical need. Its mission resonated deeply with Welch’s personal health journey, which began with his transition to a plant-based diet.

Backed by investors like Goldman Sachs Private Equity and Novo Holdings, Kate Farms continues to grow its presence in hospitals and home care systems across the U.S., making Welch’s leadership integral to the company’s scaling efforts. His career transformation highlights how purpose and profit can intersect when leadership is guided by personal values.