Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders

For people navigating financial planning in these shaky times, there's a great deal of comfort in the way that insurance companies can help mitigate risk and still grow wealth. Global Atlantic is one of those companies offering innovative products and solid planning.

On today's show we're joined by Rob Arena, Co-President of Global Atlantic where he supports Chairman and CEO Allan Levine in operating the business and executing the company's growth strategy. Rob also leads the company's individual markets business, and oversees operations and technology.

Rob has more than 25 years of experience in the financial services industry, including leadership of the Hartford's annuity business and in his role as President of Hartford Mutual Funds. Previously, he served as Senior Vice President for American Scandia Prudential Annuities.
In this episode Rob tells us about about his lengthy career, the role of insurance companies today, and the importance of safety in your portfolio.

Highlights:
• Rob describes his path to wealth management at Global Atlantic (2:51)
• The value of strong work culture (4:48)
• How the wealth management industry has changed over time (5:54)
• Rob explains his product distribution method (7:02)
• How and why annuities are so important for retirees (8:47)
• Rob's observations of recent trends in the annuity market (9:36)
• Current consumer challenges within the annuity market (10:47)
• How companies like Global Atlantic can help consumers get through market fluctuations (11:44)
• Common misconceptions from consumers (14:20)
• Rob explains how technology is integrated into the practice (16:41)
• Global Atlantic's recent partnership with KKR (19:08)
• The 'Trust Business' and how Rob ensures quality for consumers (20:45)
• Global Atlantic's Accolades (22:05)
• Rob describes his strong, strategic senior team (23:34)

Links:
ICR Twitter
ICR LinkedIn
ICR Website
Rob Arena on LinkedIn
Allan Levine on LinkedIn
Global Atlantic Financial Group on LinkedIn
Global Atlantic Financial Group Website

Disclaimer:
Annuities are issued by Forethought Life Insurance Company, 10 West Market Street, Suite 2300, Indianapolis, Indiana. Registered products are underwritten and distributed by Global Atlantic Distributors, LLC.

Life Insurance is issued by Accordia Life and Annuity Company, 215 10th St, Des Moines, Iowa.

Guarantees provided are subject to the financial strength of the issuing insurance company; not guaranteed by any bank or the FDIC.

Global Atlantic Financial Group (Global Atlantic) is the marketing name for The Global Atlantic Financial Group LLC and its subsidiaries, including Accordia Life and Annuity Company and Forethought Life Insurance Company. Each subsidiary is responsible for its own financial and contractual obligations. These subsidiaries are not authorized to do business in New York.

Feedback:
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].

Summary:

Digital advertising has allowed companies to be laser-focused with their audiences, and that means a super-efficient, high-impact campaign. On this episode we sit down with Mark Walker, Co-Founder, CEO, and Chairman of Direct Digital Holdings, which trades under the symbol DRCT. Direct Digital Holdings (DDH) is a digital advertising solutions holding company consisting of three subsidiaries: Colossus SSP, Orange 142, and Huddled Masses. 

DDH provides programmatic digital advertising solutions with a specialization in reaching highly sought-after multicultural audiences and under-served middle market companies across the US. The company is at the forefront of dynamic and inclusive approaches to advertising, and in February of 2022, DDH became the ninth ever black-owned US company to go public.

Mark is an expert in strategic planning, management, and revenue generation for Fortune 500 companies, private firms, and startups. Prior to co-founding DDH, he directed business development for N R G Energy and served as COO at Ebony Media. Mark serves on multiple advisory boards and has written multiple research articles and case studies for Jupyter Research, Search Engine Watch, and the IAB.

Highlights:

• Mark explains what DDH does (3:23)
• The challenges and opportunities he saw when he was starting the company (4:12)
• The meaning of end-to-end programmatic, and how their subsidiaries function together (6:16)
• Mark explains why some of these multicultural audiences have been more difficult to reach (8:47)
• The key industry verticals (10:25)
• How Mark defines the middle market (11:22)
• How DDH might benefit from the economic slow down (12:56)
• Mark discusses DDH's performance and market valuation in 2022 (14:30)
• DDH's strong client retention (15:56)
• Mark talks diversity and the management team (17:08)
• Where Mark sees growth coming from in 2023 (18:13)
• The economic power of the multicultural marketplace (19:51)

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Mark Walker LinkedIn

Mark Walker bio 

Direct Digital Holdings LinkedIn

Direct Digital Holdings website

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].

Summary:
AI and AR technologies are rapidly becoming stable stakes for any retail experience, and today's guest is leading the way there. On this episode, we're talking to Louis Chen, Executive Vice President and Chief Strategy Officer at Perfect Corp, which trades under the symbol PERF. Perfect is an AI and AR-powered beauty tech solutions provider, and Louis leads the company's corporate development, strategic partnerships, and marketing efforts. He joined Perfect when it was established back in June of 2015, starting as Vice President of Business Development and Marketing.  Prior to that, Louis spent 12 years at Cyber Link, where he served as VP of Business Development and Marketing, heading Consumer Business.

Louis has a Bachelor's and a Master's Degree in computer science from National Taiwan University. He joined me from his office in Taipei to tell us about Perfect's groundbreaking technology, and how it's transforming the beauty industry.

Highlights:

• Louis explains how Perfect came about (2:56)
• The total addressable market for this technology (5:50)
• The multi-channel approach for the product (6:34)
• How Perfect fits in with the ESG goals of their customers (9:13)
• The ROI for the customer (11:17)
• Perfect's go-to-market strategy (13:48)
• Louis discusses the geographic footprint of the company (16:10)
• Growth potentials for this technology (17:40)
• The adjacencies for the technology down the road (19:44)
• The company's financial performance (21:46)
• Perfect's approach to allocating capital (23:48)
• The company's strategy on acquisitions (25:11)
• Louis' observations on consumer behavior in this space (26:05)
• What investors might not understand about the company (27:21)
• Louis talks about the importance of the company founder's insight (29:19)
• Perfect's management team (30:05)

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Louis Chen LinkedIn

Perfect Corp website

Perfect Corp LinkedIn

Perfect Corp Twitter

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].

Success in the restaurant industry can be tricky, but today's guest has really nurtured the built-in growth opportunities in his business, with remarkable results.

On this episode we're sitting down with Andy Wiederhorn, President and CEO of FAT Brands. FAT Brands is a global franchising company that acquires, markets and develops a range of casual and quick-service dining restaurant concepts.

Andy made his first restaurant acquisition in 2003 with Fatburger, and went on to acquire Buffalo's Cafe in 2011, and Ponderosa and Bonanza Steakhouses in 2017. That same year, Andy took FAT Brands public. He continued FAT Brand's aggressive acquisition strategy over the next few years, striking deals with legacy brands including Johnny Rockets, Round Table Pizza, Marble Slab Creamery, and Great American Cookies, to name a few. He also struck deals with Twin Peaks, Fazoli's, and Native Grill & Wings. The FAT Brand portfolio now features 17 restaurant concepts with more than 2300 locations worldwide. 

Andy's been incredibly busy for the past 20 years, but he was able to join us to talk about the company's history, growth and their strategy for the next few years.

Highlights:

• Andy's background in finance and his first acquisition with Fatburger (3:03)
• Andy's must-haves when looking at new acquisitions (5:17)
• The portfolio's categories and how they work together (6:13)
• Andy discusses how the portfolio will look 5 years from now (7:29)
• How different concepts are doing in the current economic environment (8:15)
• Andy's perspective on supporting his franchisees (9:26)
• Co-branding with FAT Brands (10:26)
• Opportunities for new acquisitions in this market environment (11:51)
• The benefit of Andy's finance background (13:39)
• Fat Brands' manufacturing opportunities (14:35)
• The team's approach to setting up FAT Brands (15:47)
• Andy's business philosophy during COVID and how the brands handled it (17:12)
• How the chains are navigating inflation (19:24)
• What we can expect for FAT Brands in 2023 (20:37)
• Andy talks about his team (21:37)
• What investors might miss about FAT Brands (22:34)

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Andy Wiederhorn LinkedIn

Andrew Wiederhorn bio FAT Brands

Andy Wiederhorn Twitter

FAT Brands website

FAT Brands Twitter

FAT Brands LinkedIn

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].

Even the most ingenious technologies won't go far without a solid legal foundation and a forward thinking framework that will help it scale,  and this episode's guest knows all about that. Cindy Hess is a corporate partner at Fenwick and for over 10 years she's served as the co-chair of the firm's startup and venture capital group. 

Over the course of her practice, Cindy has counseled technology companies on a broad range of corporate transactional matters. She's worked with a wide range of high tech clients including some of the hottest and most innovative companies in mobile SaaS and social media.
Cindy has had numerous industry honors, including being named as one of the Recorder's Top 10 Most Trusted Corporate Counselors, and one of the Top Women Leaders in Tech Law. She was also named to the Legal 500's Hall of Fame of the Venture Capital and Emerging Companies category. Cindy was the recipient of the Women in Business Law Award for Best in Technology, and the Silicon Valley Business Journal named her as one of the leading women of influence in Silicon Valley. She's a member of the State Bar of California and of New York. She received her undergraduate degree from Princeton, and her J.D. from Cornell.

We sat down to talk about Cindy's incredible career working on some of the biggest deals in history, and what she sees for big tech deals in 2023 and beyond.

Highlights:

• How Cindy got her start with Fenwick (3:24)
• What Fenwick does and why it's different than other firms (4:14)
• Cindy's client base (7:58)
• The part of the practice that Cindy thinks is strongest right now (9:17)
• How Cindy got into law (10:06)
• Cindy talks about some of the biggest deals at Fenwick (11:19)
• The deal that was most transformative for Cindy's career (13:21)
• Cindy talks about her experience as a woman in this field over the length of her career (14:36)
• Mentors that have helped along the way (15:27)
• Cindy's predictions for capital markets in 2023 (17:08)
• Cindy discusses the findings of the latest edition of Fenwick's Silicon Valley Venture Capital survey (19:20)
• Cindy's advice to founders going through the early stages of development, and what to consider when going public (23:05)
• What's next for emerging companies looking to grow their business (24:16)

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Cindy Hess Bio Fenwick

Cindy Hess LinkedIn

Cindy Hess Twitter

Fenwick website

Fenwick LinkedIn

Fenwick Twitter

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].

Summary:
If you're going to jump into the massive beverage market with a brand new product, you better have some incredible experience and a solid team behind you. And that's exactly what today's guest has. On this episode we're sitting down with Mike Pengue, who has been CEO of ZOA Energy since its launch in March of 2021.

Prior to ZOA, Mike was Senior Vice President, General Manager for the Emerging Brands Group at Keurig, Dr. Pepper. He came to Keurig, Dr. Pepper from Bai Brands where he was Chief Strategy Officer, and was instrumental in the 1.65 billion sale to Dr. Pepper Snapple.

Mike also spent 20 years at Nestle Waters North America in a variety of positions. His last role there was Executive Vice President, leading the $5 billion brand portfolio that included Perrier Pellegrino, Nestle's Pure Life, Poland Spring, Ozarka, and Deer Park, among others.

Mike joined me to share the story of ZOA Energy and the amazing founders he's working with. We also discuss why this new drink is standing out and growing at breakneck speed.

Highlights:

• Mike describes the ZOA Energy drink product, who the founders are and their collective strengths (3:04)
• Mike's initial thoughts about joining the company (5:58)
• The brand and what it stands for (7:46)
• The market size and where ZOA fits (9:18)
• ZOA's total addressable market (11:57)
• Mike talks about the company's remarkably fast growth (13:36)
• How the ZOA team have approached marketing spend (15:38)
• Mike talks new flavors and their approach to product size (17:12)
• The challenges that the team is looking at now (21:24)
• Mike discusses their international growth (23:32)
• Managing inflation, supply chain and other economic challenges (24:54)
• The mentors that Mike has had along the way (26:13)

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Michael Pengue LinkedIn

Michael Pengue bio - Beverage Forum

ZOA Energy LinkedIn

ZOA Energy website

ZOA Energy Twitter

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].

Summary:
To really serve your customer, you have to understand them. And that's just one of the crucial ways that today's guest has led her company into remarkable growth. On this episode, we welcome Molly Langenstein, CEO, President and Board Member of Chico's FAS. She joined the company in August of 2019 and became CEO and President less than a year later, in June 2020.

Molly is a 30-year retail industry veteran with a proven track record of building multiple successful brands, and revitalizing sales and profitability in the retail fashion industry. Prior to Chico's, Molly held multiple roles at Macy's, including General Business Manager for Ready to Wear, Private Brands Officer of Macy's in Bloomingdale's, and Executive Vice President of private brands for Men's and Children's wear.

I sat down with Molly to talk about the unique strategy at Chico's and her amazing career in the retail industry, that in some ways, started when she was just a kid.

Highlights:

• Molly tells about what she learned growing up in her mother's boutique (2:58)
• What has changed and what's stayed the same with consumers (4:27)
• Molly explains the main brands at Chico's (5:34)
• What attracted Molly to this opportunity at Chico's (8:36)
• The strategic pillars of their plan (9:56)
• The connection that is made with a customer through these brands (14:34)
• How an increasingly younger customer base and the multi-channel approach is significant to the company's growth (16:17)
• The company's digital tools for their customers, and their loyalty program (18:44)
• Chico's balance sheet (21:46)
• How Chico's is managing the economic challenges of the moment (22:53)
• Molly talks about the company's response to Hurricane Ian in Florida (24:17)
• Molly's signature piece of management advice (25:58)

Links:
ICR Twitter

ICR LinkedIn

ICR Website

Molly Langenstein LinkedIn

Molly Langenstein Bio

Chico's Twitter

Chico's FAS Website

Feedback:
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].

Summary:
Extreme weather, aging grids, power storage and distribution; these are just some of the challenges that clean energy is stepping up to solve. And companies like Stem are at the forefront, with cutting edge AI-driven services. Today we hear from John Carrington, CEO of Stem. John leads the energy storage and analytics movement at the company and has more than 25 years of leadership experience in technology, energy, and industrial companies.

John came to Stem from MiaSolé, the world's largest CIGS-based thin film solar company, where he was CEO and Director. Prior to that, John was the Executive Vice President of Marketing and Business Development at First Solar, growing the company from 250 million to more than 2 billion dollars in open markets in the US, Asia, and Europe. John also spent over 16 years at General Electric, most recently as the General Manager and Chief Marketing Officer of GE Plastics. He was part of a small executive team that executed on the 12 billion dollar sale of GE Plastics to SABIC in 2007.

I sat down with John to talk about his interesting career trajectory and the huge runway he has in front of him with Stem.

Highlights:

• John discusses how he got his start in the energy field (2:51)
• How John ended up at Stem, and what the company does (4:39)
• How Stem fits into the larger energy transition (7:28)
• John talks about the ground-breaking software that Stem has built and the real-life use cases (8:39)
• Stem's total addressable market (11:44)
• How the Inflation Reduction Act is benefiting energy storage (13:16)
• The ease of "going solar" today (14:40)
• Stem's partnership with In Charge, an EV charging infrastructure solution(16:17)
• John talks about Stem's truly innovative approach (18:07)
• The benefits of being a public company for Stem (18:58)
• How John is positioning Stem in this challenging economic time (19:29)
• The key drivers for margin expansion in the next few years (20:49)
• The backlog for 2022 vs. 2021 (22:01)
• John talks about his great team (24:08)
• Stem's approach to capital allocation (25:20)
• John's outlook for energy storage in the next three to five years (26:31)
• John's most important mentors (27:49)

Links:
ICR Twitter

ICR LinkedIn

ICR Website

John Carrington LinkedIn

John Carrington, Stem Inc bio

Stem LinkedIn

Stem website

Stem Twitter

Feedback:
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].

Summary:

It's been an amazing year on Welcome to the Arena, and we've heard from some of the most exciting and successful businesses and strategists in the game. On this brief episode of the show, Tom Ryan, founder and CEO of ICR, and host of Welcome to the Arena shares his reflections on 2022, and looks ahead to 2023 and the 25th anniversary of ICR. 

Enjoy the holidays, and look for new episodes and more incredible guests coming in January!

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Tom Ryan ICR

Tom Ryan LinkedIn

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].

Summary:

Being a disruptor in business can be as uncomplicated as putting out high quality products, in a small-but-mighty category. And that's what today's guest has done, with incredible success. On this episode we're talking to Todd Lachman, the founder, President and CEO of Sovos Brands.

For 25 years, Todd's delivered growth and value creation for some of the biggest names in consumer packaged goods. He served as Global President of Mars Pet Care, President of Mars Chocolate, North America and Latin America, and Executive Vice President of Del Monte Foods Company. He also held senior management roles at H.J. Heinz Company after moving up the marketing ranks at Proctor and Gamble. 

Outside of his extensive professional experience, Todd's an active board member with Big Brothers and Big Sisters in the Bay Area, and he's a super active guy who's into skiing, cycling and hiking with his family and two dogs.

I managed to tear him away from his busy life for a conversation about how he built Sovos Brands into the huge success it is today, and what made him start the company in the first place. 

Highlights:

• Todd talks about starting Sovos and how he arrived at the idea (2:57)
• How each of the Sovos brands fit together (5:15)
• Why Sovos went public when they did (7:10)
• All about Rao's Sauce and why it's so successful (8:04)
• Becoming a billion dollar brand (11:03)
• Todd discusses their approach to international sales (13:13)
• Pricing premium products during a tricky economic and political time (14:25)
• Todd discusses efficiencies when it comes to P and L (16:00)
• The Sovos approach to innovation and new brands (18:24)
• The horizontal culture at Sovos (20:46)
• The achievements at Sovos this year (22:02)
• Todd's approach to M and A (23:40)
• The advantages of being a CEO who is from the marketing side (24:40)
• What Todd is most proud of with Sovos (26:49)

Links:

ICR Twitter

ICR LinkedIn

ICR Website

Todd Lachman LinkedIn

Todd Lachman bio

Sovos Brands LinkedIn

Sovos Brands website

Sovos Brands Twitter

Feedback:

If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, [email protected].