CFO THOUGHT LEADER

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.

Patrick Fleury, CFO of TeraWulf, brings his expertise in navigating complex industries, particularly Bitcoin mining. He discusses the importance of simplifying financial models to achieve clarity. The conversation explores the challenges of clear communication in chaotic environments and how finance leaders can enhance transparency. Fleury also delves into the economic aspects of Bitcoin mining, offering insights on profitability and the industry's need for transparency. He shares thoughts on evolving infrastructure, transitioning from Bitcoin mining to AI-driven solutions.

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.

Zane Rowe, CFO of Workday and former CFO at United Airlines, shares his unique journey from the airline industry to technology. He discusses how AI is transforming finance, emphasizing its role as a strategic asset rather than just a process tool. Rowe highlights the importance of data-driven efficiency, drawing from his past experiences to illuminate AI's impact on decision-making. He also reflects on the value of mentorship and networking for new leaders, advocating for a dynamic approach to finance leadership in a tech-centric world.

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.

Deanna Strable, a seasoned executive with over 30 years of experience, shares her unexpected journey as CFO of Principal Financial Group. She discusses the shift from a narrow focus on earnings growth to broader metrics like capital allocation and customer satisfaction. Strable emphasizes the importance of blending operational insight with financial expertise to drive long-term success. She also touches on the transformative impact of AI in finance and her passion for mentoring the next generation of finance leaders, offering valuable insights for aspiring CFOs.

Ben Averis, CFO of Yoto and an expert in finance and private equity, shares his journey from PwC to leading Yoto, a founder-led company prioritizing customer engagement. He delves into the challenges of mergers and acquisitions, particularly the 'buy or build' moment, emphasizing how larger companies can lose their customer-centric focus. Ben also discusses innovations at Yoto, including their unique children’s audio platform and the role of AI in enhancing operational efficiency while maintaining a strong connection to customers.

It was during the first half of 2024 that press reports first surfaced to suggest that Bitcoin pioneer TeraWulf was seeking to make a bold strategic pivot into AI and high-power compute. Along the front lines of this move stood Patrick Fleury, TeraWulf’s action-oriented CFO, whose short tenure at the firm thus far has been notable for its aggressive cost-cutting measures and bold efforts to address the company’s debt. Moreover, Fleury’s focus on the optimization of the cash flow from TeraWulf’s Bitcoin-mining operations has proved crucial in stabilizing the company during turbulent market conditions.It is perhaps surprising to learn—given his success as a CFO—that Fleury had not always envisioned himself in this role. Having spent 16 years as a strategic investor, he had been content in working from the sidelines, guiding companies through investments and strategy. Becoming a public-company CFO had never been on his radar. Still, when TeraWulf needed a leader to guide it through significant challenges, his deep understanding of financial markets and investment strategy turned out to make him the ideal choice.Fleury’s unique investor mind-set has been instrumental in charting TeraWulf’s new growth trajectory. His ability to engage investors, simplify complex industry dynamics, and clearly demonstrate “value” has been key to gaining investor buy-in for TeraWulf’s new direction. Moreover, his experience on the buy-side has provided him with valuable insight into what investors look for—transparency, potential for growth, and clear financial discipline.This ability to communicate effectively, coupled with his strategic acumen, has allowed Fleury to lay the groundwork for TeraWulf’s shift into AI and high-power compute. By looking at decisions through an investor’s lens, he has garnered the ability to build trust with stakeholders while at the same time positioning TeraWulf as a forward-thinking player in the rapidly evolving AI and data center sectors. Fortunately for his firm, Fleury’s financial leadership continues to drive TeraWulf toward a promising future in these high-growth markets. 

When Scott Blackley was asked in kindergarten what he wanted to be when he grew up, his answer was surprisingly clear: “I want to be an auditor.” This early ambition was no coincidence; his father was a partner at KPMG, and young Blackley grew up around the firm’s offices, imagining himself one day sitting at a big desk, overseeing important work. True to his dream, he eventually ended up following in his father’s footsteps to become a partner at KPMG and invest a dozen career years there.Despite achieving his childhood goal and carrying on the family legacy, though, Blackley eventually found himself at a crossroads. “It was a tough decision to leave KPMG,” he recalls, “but some of the experiences that I had had involving other people’s business problems had made me want to own them.” This realization marked a turning point in his career that fueled his desire to take on more responsibility and solve problems on a firsthand basis.This drive led Blackley to Oscar Health, where he stepped into the CFO role during a pivotal moment. Reflecting on his early days at the company, Blackley observes, “When I joined, one of the things that I walked in the door with was a commitment to myself that I was going to be thoughtful about taking the time to understand the situation and then decisive about making decisions.” Consequently, within 90 days, he would end up reorganizing the finance function to separate FP&A from the controller’s office and hiring a new leader to build a more structured finance organization—one capable of supporting Oscar Health’s ambitious plans for growth and transformation.