Qualities of Great CFOs and Succession Planning

The chapter delves into the qualities that differentiate good CFOs from great ones, stressing the importance of empathy, continuous learning, and nurturing talent. It also discusses the significance of succession planning in companies, emphasizing the need for a clear plan to ensure a smooth transition in key positions. The conversation further explores the practical aspects of succession planning and touches on the importance of strong leadership even in the leader's absence.

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Kevin Kraus, the CFO of publicly traded technology company 8x8 is CJ’s guest for this episode. Having done over 14 M&A transactions in his career, he has a wealth of knowledge on the subject to share. Kevin explains the best practices for M&A in tech companies, touching on the customer diligence aspect of the process and giving valuable advice on how to approach the post-M&A integration process. He also talks about standing up deal desks to speed up sales, not slow them down, and what to consider in terms of pricing and payment terms. He shares learnings from the book The Outsiders and what it taught him about resource allocation. Other profound insights that Kevin offers in this episode include his “one throat to choke” philosophy for FP&A teams, the qualities of a great CFO, and the importance of creating a succession plan.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(02:00) Sponsor - Maxio | Leapfin

(04:21) Strategy for M&A in Tech

(07:06) Customer Diligence in M&A

(08:58) The Post M&A Integration Process

(13:34) Structuring a Deal Desk to Speed Up Sales

(17:54) Sponsor - Mercury | Netsuite

(21:09) Deal Desks: Pricing and Payment Terms