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

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 TwitterICR LinkedInICR WebsiteJohn Carrington LinkedInJohn Carrington, Stem Inc bioStem LinkedInStem websiteStem TwitterFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

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 TwitterICR LinkedInICR WebsiteTom Ryan ICRTom Ryan LinkedInFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

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 TwitterICR LinkedInICR WebsiteTodd Lachman LinkedInTodd Lachman bioSovos Brands LinkedInSovos Brands websiteSovos Brands TwitterFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

Summary:There are a lot of things that California produces well: movies, wine, and now cannabis. Today's guest knows all about that. Kyle Kazan is co-founder and CEO of Glasshouse Brands, a vertically integrated sustainable producer of cannabis products. In 1991, he began investing in real estate, and became a manager of private equity funds. He's now launched a total of 23 funds with a current estimated value of almost $3 billion. In 2016 Kyle pivoted to the regulated cannabis industry. Since his early service as a special education teacher and law enforcement officer, Kyle's been a vocal advocate for police reform and ending the war on drugs.He makes frequent appearances on CNN and Fox and has been a guest professor at NYU, USC, and UCLA's business schools. Kyle's a graduate of University of Southern California where he played varsity basketball, and his long and varied career made for a great conversation.Highlights:Kyle talks about his early years as a basketball player, then a police officer turned real estate investor (2:57)What led Kyle to move into cannabis (5:38)The assets that Glass House has today (8:58)Glass House's vertical integration (10:49)Kyle discusses the brands of Glass House (13:37)How growing the product in California figures into Glass House's marketing (15:41)The challenges in this industry and the state of the market now (18:31)How the current political climate might affect Glass House (20:05)The total addressable market for Glass House (22:06)Kyle talks about his great team at Glass House (24:20)Their unique approach to investors (27:01)Links:ICR TwitterICR LinkedInICR WebsiteKyle Kazan BioKyle Kazan LinkedInKyle Kazan TwitterGlass House websiteGlass House LinkedInGlass House TwitterFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

Summary:At a time when many restaurants are cutting back on what they offer guests, the One Group is raising the bar on the dining experience, and positioning themselves for huge success in the process.Today's guest is Manny Hilario, CEO of The One Group and long-time friend of ICR. The One Group is a global hospitality company that develops and operates upscale and polished casual, high energy restaurants and lounges. Their two primary restaurant brands are STK and Kona Grill, where they aspire to be the global leader in vibe dining, a unique combination of casual, upscale lounge and restaurant experiences. They trade under the symbol T K.Manny joined The One Group as a board member in April 2017, and in October 2017 he became President and CEO. Prior to that he was CFO of Sizzling Platter, and was COO at Einstein Noah Restaurant. Manny began his career at McDonalds where he held various financial roles with the company. On this episode, Manny and I talked about the One Group's bold approach to hospitality, their growth strategy, and of course their unique vibe dining concept that is setting them apart from the competition.Highlights:What the vibe dining concept offers (2:57)Manny describes the STK and Kona Grill brands (4:16)New restaurant locations and how they're doing (6:00)The prospects for ROI on the expansion of the restaurants (7:57)The total addressable market for the restaurant brand (10:10)Manny discusses how their franchises work (12:41)The One Group's optimism heading into the holidays (14:33)Technology's role in the restaurant business (16:32)Manny talks about the deal with Reef Kitchens and the ghost kitchen opportunity (18:59)The One Group's philosophy on capital allocation (20:15)What Manny has learned from his various roles in the industry (22:09)Recent trends in the industry that have surprised Manny (24:00)Links:ICR TwitterICR LinkedInICR WebsiteThe ONE Group WebsiteThe ONE Group LinkedInManny Hilario LinkedInManny Hilario, The ONE GroupFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

Summary:You can never underestimate the power of high quality consumer research from a globally renowned team, especially when they're led with energy and heart by a top industry analyst.Case in point is today's guest, long-time friend of ICR, Dana Telsey. Dana is the CEO and Chief Research Officer of Telsey Advisory Group, which was founded in 2006. The firm has grown to be a leading equity research trade execution, investment banking and consulting firm focused on the consumer space.During her 35-year career, Dana has followed over a hundred companies. From 1994 to 2006, she was Senior Managing Director covering the retail sector at Bear Stearns. Prior to that, she was a retail analyst at CJ Lawrence and was a V.P. of the Baron Asset Fund at Baron Capital. In 2015, she also formed Telsey Consumer Fund Management, an asset management firm investing in consumer oriented companies.Dana's received countless awards and accolades during her career. This year, Dana was named for the third time as one of Barron's Hundred Most Influential Women in US Finance, and she was named for a second time as one of Rethink Retail's Top 100 Retail Influencers. And maybe most impressive is that she was a member of Institutional Investor Magazine's All America Research Team for 13 years, from 1992 to 2005.Dana is a regular on CNN and CNBC, she's a fountain of energy and knowledge, and on today's episode we had a great conversation about her career, the fascinating story of retail, and what's to come. Highlights:Dana talks about getting her start in the business (3:16)When and why she started the Telsey Advisory Group (TAG) (5:32)The industries and segments that TAG covers (8:08)The brands that Dana gets excited about (9:25)How equity research has changed in the last 20 years (10:25)Why differentiation matters for brands (11:50)Dana talks about being one of the few women-owned firms on Wall Street (13:14)Dana reflects on the uncertainty of the past 3 years (15:25)Which consumer areas are currently holding up well (16:32)Dana's observations on technology investment (18:11)What Dana sees happening with the IPO market, and what investors are looking for (19:44)Capital allocation and new channels like the metaverse (21:31)The holiday season and forecasting into 2023 (23:21)What TAG is investing in (26:27)Links:ICR TwitterICR LinkedInICR WebsiteDana Telsey BioDana Telsey TwitterDana Telsey LinkedInTelsey Group WebsiteTelsey Advisory Group LinkedInFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

Summary:We take for granted how rapidly restaurants have gone digital in the past few years, but it's actually been a vision 20 years in the making. And it all started with today's guest.Noah Glass is the founder and CEO of Olo, a leading commerce platform powering the restaurant industry's digital transformation. Over 600 of the most recognized restaurants and C-Store brands use Olo to grow digital sales, preserve direct consumer relationships, and maximize profitability. More than 85 million consumers run their orders through the platform annually.After attending Yale and spending some time abroad, Noah founded Olo at the age of 24. He established the company before the rise of the smart phone, starting out with a focus on text message ordering. Noah is now recognized as among the most influential leaders in the restaurant industry, and was named number one on 2020's Nation's Restaurant News Power List.Noah and I talked about Olo's inspirational origin story, the incredible impact the company has had on the restaurant industry, and the huge opportunities in this space going forward.Highlights:An introduction to Olo (3:23)Noah tells Olo's origin story (4:01)From protype to actually commercializing the product - getting restaurants on board in the early days (8:27)Noah takes us through Olo's products (10:51)The challenges of digital transformation in the restaurant industry (14:39)Noah talks about the total addressable market and how far into digital transformation we really are (16:38)The status of the restaurant industry, and the mindset around tech adoption (18:14)Olo's approach to R and D (21:06)Noah discusses Olo's financial position and philosophy on acquisitions (22:59)The culture at Olo (25:23)What investors might not understand about Olo (27:32)Links:ICR TwitterICR LinkedInICR WebsiteNoah Glass BioNoah Glass LinkedInOlo WebsiteOlo LinkedInFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

Summary:It's always a pleasure to speak to a grizzled veteran who has decades of experience leading hundreds of deals that have raised billions of dollars.Here to share that wisdom is Gregg Nabhan, Chairman of the America's Equity Capital Markets, as well as Managing Director of the Consumer and Retail team at Bank of America. Gregg is responsible for the origination, IPO valuation, structuring, book-building, price discovery allocation trading, and aftermarket performance of equity transactions. Gregg has almost 40 years of experience on Wall Street. He's led over 400 deals, raising over 265 billion for companies around the world, including 115 IPOs totaling 50 billion dollars. Prior to joining Bank of America in 2008, Gregg worked at Morgan Stanley for 13 years where he was a Managing Director in the equity capital markets. He has a BA in Economics and Political Science from Columbia University. Gregg and I talked about the past 4 decades of economic twists and turns, some of his career highlights and what he sees coming around the bend.Highlights:Gregg talks about his start at Bank of America (2:45)The IPO resources that B of A offers (4:35)Gregg's perspective on the last 3 years of market activity (5:20)The Fed's inflation strategy (8:43)The number of IPOs now, compared with the past 15 years (10:08)Industries that are favoured to open the IPO market (11:20)Gregg discusses the valuation reset (12:46)What strong performing companies have in common (14:45)What the Fed needs to see to change their stance on interest rates (16:15)Gregg's take on the state of the consumer (18:58)Gregg tells us about some of his favourite deals over the years (19:44)The biggest challenges for management teams going through an IPO (20:55)Gregg's take on ESG (23:15)Will IPO Road Shows remain virtual, post-COVID? (24:38)Gregg talks about the huge value of his mentors over the years (25:46)Links:ICR TwitterICR LinkedInICR WebsiteGregg Nabhan LinkedInBank of America TwitterBank of America WebsiteFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

SummaryA growing number of food companies are investing in sustainable product development, but only a handful are really getting it right. Joining me to talk about doing sustainability successfully is Joe Ennen. Joe is CEO and a director at SunOpta, which trades under the symbol S T K L. The company sources, processes, and produces organic, natural, and non-GMO plant and fruit-based food and beverage products. SunOpta sells to retail customers, food service distributors, branded food companies, and food manufacturers. They have 14 processing facilities, mainly in North America. Joe has over three decades of experience as a food industry leader. Prior to his current role, he was Group Vice President of Innovation at PepsiCo, and served as CEO at Columbus Foods, and CEO of Columbus Manufacturing. Joe has an undergraduate degree in Finance and Marketing from University of Minnesota, and an MBA from University of Michigan.We talked about Sun Opta's investments in capacity, innovation, and the five factors that have fuelled the huge growth of plant-based milk products.Highlights:Joe explains SunOpta as a business (2:57)The changes at SunOpta since Joe's arrival (4:21)SunOpta's five strategic imperatives (5:50)The company's ESG focus (8:45)Joe discusses what he sees for this market in the next few years (10:20)How SunOpta assures customer retention (13:06)Managing a diverse customer base (15:22)Joe talks about their impressive 2nd quarter results (16:31)Navigating through difficult times (18:11)How SunOpta moves with the consumer (19:40)What investors might not understand about Sun Opta (20:52)SunOpta's capacity-building achievements (22:45)Links:ICR TwitterICR LinkedInICR WebsiteJoe Ennen LinkedInJoe Ennen SunOptaSunOpta LinkedInSunOpta WebsiteSunOpta TwitterFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.

SummaryIn an industry that's seen incredible growth in the last few years, lots of Saas companies are exploding. But Saas software vendor AvePoint was on the scene long before the industry took off, and their strategic vision of the cloud's potential has helped secure their own extraordinary long-term growth.Back in March we chatted with AvePoint's Chief Brand Officer, Dux Raymond Sy about building brands, so I'm excited to learn more about this growing company with today's guest, AvePoint's CEO, Dr. TJ Jiang.TJ co-founded AvePoint in 2001, and he's served as CEO since 2005. He holds a Master's degeree in electrical and computer engineering from Cornell University, and a PhD in data mining from NYU and in 2010, TJ was the recipient of Ernst and Young's, Entrepreneur of the Year Award.Ave Point is the Saas backbone of data management and the hybrid workforce. Their full suite of Saas solutions enable organizations worldwide to collaborate with confidence in the cloud. More than 9 million cloud users rely on AvePoint solutions for securing data, sustaining connections and ensuring business continuity.TJ and I spoke about the early, lean years of the business, AvePoint's careful choices along the way, and the evolutionary factors that have made AvePoint one of the biggest players in the Saas industry.Highlights:TJ's enterpreneurship story: how AvePoint began (3:15)What AvePoint does and who their clients are (5:58)How the pandemic influenced their business (7:38)TJ explains the benefits and necessity of Saas technologies (10:15)The size of the market and why this is just the beginning of digital transformation (13:34)TJ talks about AvePoint's go-to-market strategy (15:01)Why AvePoint is enjoying great growth when other companies are struggling (16:58)The story on some of AvePoint's latest acquisitions (19:01)TJ discusses their philosophy on capital allocation (23:03)Some of the factors that have led to AvePoint's strong balance sheet (24:50)The things that investors might miss about AvePoint (26:32)Links:ICR TwitterICR LinkedInICR WebsiteTJ Jiang LinkedInTJ Jiang TwitterAvePoint WebsiteAvePoint TwitterAvePoint LinkedInFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, elizabeth@lowerstreet.co.