Stanford Business Magazine November 2007

CFOs Rely on People, Not Just Numbers

It isn’t enough to be a financial whiz; successful CFOs are also good politicians, said Al Castino, chief financial officer of Autodesk, a desktop design company with sales that have nearly tripled since he joined the business. His success would not have been possible without understanding “the levers to influence people,” Castino, MBA ’77, told an audience at the Business School, where he delivered the annual Arjay Miller Lecture in May.

When Castino arrived at Autodesk in 2002, the company was living off its bestselling AutoCAD software and growth was at a near standstill. Castino wanted to sell new products, streamline departments such as accounting, invest in emerging markets, and rev up the company’s loyal but unadventurous employees.

To effect these major changes, he needed the support of his people. Drawing on his successful experience at Autodesk, Castino offered 10 tips to aspiring CFOs:

Learn how to lead. Castino’s predecessor knew finance, but wasn’t able to persuade company leaders to change.
Build a strong team.
Be honest with employees and investors.
Share credit for success.
Make things better. Don’t waste time and money making them look better.
Be suspicious. The bigger the investment banking fees, the more wary you should be. Remember that tech mergers are not always made in heaven: Think culture clash, not to mention software/hardware incompatibility.
Look to the future: Think at least five years ahead.
Be sure your financial strategy parallels and supports your company’s business strategy.
Keep physically fit. You will be more creative and engaged in your work.
Don’t be afraid to try your hand at running teams and building companies. If you’re good at it, the money will come.
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Stanford Business magazine

CFOs Rely on People, Not Just Numbers