TaxPulse Podcast

Episode Information

Guest: Tim McDonald

Title: Former VP, Global Taxes Procter and Gamble Company

Duration: 36 minutes

Release Date: February 11th 

Episode Description

In this insightful episode of Exposed, Tony Santiago speaks with Tim McDonald, former Global Head of Tax at Procter & Gamble, about the critical challenges facing tax functions in 2025 and beyond. As the second installment of the podcast, this episode dives deep into tax policy shifts, workforce development, and succession planning amid global tax reform pressures.

Key Discussion Highlights:

• Macro-Level Tax Policy Challenges: McDonald explains why upcoming tax reforms will be more difficult than expected due to debt concerns and exhausted revenue-generating strategies from previous reforms.
• Generational Workforce Shifts: The tax profession is experiencing a leadership transition as baby boomers retire, with Gen X professionals facing unique challenges that may prevent them from stepping into top roles.
• The Future of Tax Structures: Insights into the potential introduction of GST-like tax systems and the critical need for balanced spending controls. 

Top Quotes:

1. On tax reform challenges:
   "The current macro condition we have is such that tax reform is going to be much more difficult than people think." — Tim McDonald
2. On debt & policy dynamics:
   "Tax executives must bring these debt and policy dynamics to their management and board's attention before it's too late." — Tim McDonald
3. On workforce development:
   "Tax leaders need to bring their management and boards up to speed on these debt dynamics, or they'll be blindsided by policy changes." — Tim McDonald

Key Takeaways:

• Companies must rethink their tax strategies and leadership pipelines amid generational and fiscal challenges.
• The need for proactive communication with financial and HR leadership is critical to staying ahead of regulatory and workforce changes.
• Educating tax professionals on indirect tax exposure, such as GST, will be vital as global tax trends evolve.

About the Guest Speaker: Tim McDonald

Tim McDonald is a distinguished tax expert with a 40-year career spanning corporate leadership and tax policy. He recently retired as Global Head of Taxes at Procter & Gamble after 19.5 years and previously led tax functions at Baxter International. He began his career at General Motors Tax Counsel, contributing to the modeling of the Tax Reform Act of 1986, followed by 12.5 years in Big Four accounting. A CPA with a BSA from the University of Michigan and a JD from Wayne State Law School, Tim has served as an advisory board member for the University of Chicago Tax Symposium for 23 years, Co-Chair of the Alliance for Competitive Taxation for 15+ years, and member of PwC’s Tax Study Group for 25 years. His unparalleled expertise makes him a trusted voice in tax leadership and policy.

Next Steps for Listeners:

• Evaluate your team’s leadership pipeline and skills readiness for potential tax system changes.
• Open proactive conversations with your board and management about the political and economic challenges highlighted in this episode.
• Continue following Exposed for more expert insights and actionable advice.

Connect With Us

LinkedIn
TaxTalent.com
[email protected]

Tags

#TaxLeadership #CareerDevelopment #TeamManagement #CorporateTax #Leadership #ProfessionalDevelopment #TaxPolicy

Episode Information

Guest: Sonia Hollies

Title: Senior Vice President, Global Treasurer, Tax and Corporate Finance Head at Perrigo

Duration: 30 minutes

Release Date: December 19th

Episode Description

In this inaugural episode of Exposed, host Tony Santiago sits down with Sonia Hollies, a dynamic tax leader who has expanded her role far beyond traditional tax boundaries. Together, they explore the evolution of tax leadership, the importance of relationship-building in a post-COVID world, and strategies for developing and retaining top tax talent.

Key Highlights

• Sonia's journey from accounting to tax leadership
• Building relationships across organizational boundaries
• Innovative approaches to team development and retention
• Managing multiple stakeholders effectively
• Adapting to remote/hybrid work environments

Notable Quotes

"Every time I talk to Sonia, they add something else onto her title." - Tony Santiago

"Tax is a way for accountants to be creative." - Sonia Hollies

"There is no such thing as 'it's not your job.'" - Sonia Hollies

"I think relationship building is even more important in this COVID, post-COVID environment." - Sonia Hollies

Topics Covered

1. Career Development

• Journey from accounting to tax
• Expanding responsibilities beyond tax
• Building cross-functional relationships

2. Leadership Insights

• Managing diverse stakeholders
• Importance of agility in leadership
• Balancing technical and soft skills
• Communication strategies at all levels

3. Team Management

• One-on-one engagement strategies
• Performance evaluation approaches
• Career development conversations
• Succession planning

4. Organizational Development

• Building transparency in organizations
• Cross-functional collaboration
• Working with HR effectively
• Managing remote/hybrid teams

5. Future Challenges

• Preparing for regulatory changes
• Managing global tax complexity
• Developing next-generation leaders

Resources Mentioned

• Leadership in Action program
• Achievers program
• 360-degree feedback assessments

About the Guest

Sonia Hollies serves as the Senior Vice President, Global Treasurer, Tax and Corporate Finance Head at Perrigo, a life sciences consumer products company. With headquarters in both Grand Rapids, Michigan, and Dublin, Ireland, Sonia brings over 30 years of experience in tax and finance leadership. She served as the Vice President and Chief Tax Officer at Conduent, leading the tax function during the organization's spin-off from Xerox. Sonia has also held senior tax roles at Xylem Inc., MasterCard, United Technologies, Purdue Pharma, and Crane Co. Throughout their career, Sonia has demonstrated expertise in tax compliance, reporting, and strategic planning, successfully managing tax functions and providing valuable insights to senior management and board members.

Next Steps for Listeners

1. Connect with Sonia Hollies on professional networks
2. Explore implementing one-on-one career discussions in your organization
3. Consider developing cross-functional relationships within your company
4. Subscribe to Exposed for more insights from tax industry leaders

Connect With Us

LinkedIn
TaxTalent.com
[email protected]

Tags

#TaxLeadership #CareerDevelopment #TeamManagement #CorporateTax #Leadership #ProfessionalDevelopment #Tale