September « 2011 « marcusevans-finance

Archive for September, 2011

CFO Summit 2012


Grattan Institute:
The Effect of Carbon Tax on Australian Businesses







 

Saul Eslake, a speaker at the marcus evans CFO Summit 2012, discusses how the upcoming carbon tax in Australia will affect businesses in the region.


Interview: Saul Eslake, Director, Grattan Institute



FOR IMMEDIATE RELEASE


Australia’s 500 biggest greenhouse gas emitters will be taxed on their carbon emissions from July 2012. Whether a company will get taxed or not, Chief Financial Officers (CFOs) in Australia and New Zealand still need to be aware of what the carbon tax and emissions trading systems involve to maintain their organisation’s competitive edge.


A speaker at the upcoming marcus evans CFO Summit 2012, on the Gold Coast, Australia, 4 – 6 March, Saul Eslake, Director, Grattan Institute, points out how Australian companies can prepare for the changes ahead.


What does the introduction of the carbon tax mean for CFOs?


Saul Eslake: If they are a CFO in one of the 500 businesses in Australia that will be liable to pay the carbon tax, there will be some requirements for organising systems, measuring carbon emissions properly and paying in a timely manner.


There will be a three-year transition period before the emissions trading system is introduced in July 2015, whereby companies will need to obtain permits to continue emitting CO2. Appropriate trading and risk management systems must be in place to manage the risks associated with what will then be an exposure to fluctuating prices.


CFOs of businesses that will not have to pay taxes or obtain permits for CO2 emissions, still need to take into account the impact that these will have on the prices of goods or services they require for their business. The good news is that the carbon tax will have less impact on the economy than the Goods and Services Tax introduced 11 years ago.


Will this make Australian companies less competitive in the region? How can they maintain their competitive edge?


Saul Eslake: The most effective way of maintaining competitiveness is by participating in the search for ways to generate or use electricity in less carbon-intensive ways. Indeed, the whole purpose of these schemes is to change businesses’ and people’s behaviour in that direction. The carbon tax can be reduced by reducing energy consumption or switching to less carbon-intensive forms of energy.


Australia is a carbon-intensive economy, with one of the highest levels of CO2 emissions per capita or per dollar of GDP among the advanced economies. Access to relatively cheap, but carbon-intensive sources of energy, has historically been one of Australia’s principal areas of comparative advantage.


Those who opposed the carbon tax pointed out to the lack of action by two of the largest emitters in the world, China and the US. China is unlikely to introduce a similar tax in the near future and it may be some time before the US embraces a market-based mechanism for reducing emissions. Although the tax and trading systems will impact the international competitiveness of many Australian firms, I do not consider this an argument for us not taking any action at all.


There are various compensatory measures for companies that are trade exposed, thus CFOs should make sure they gain access to all that they are entitled to.


What opportunities does this carbon tax present to CFOs?


Saul Eslake: There are various programmes directed towards speeding up the search for commercially viable and technologically sustainable ways of generating energy. Energy-intensive businesses are well advised to follow the developments in that space.


Do you have a final piece of advice to CFOs?


Saul Eslake: Think very carefully about the options that may be available both now and over the medium-term for reducing the carbon intensity of your business’ operations. If your company will not be taxed, there might not be a need to be on top of all the details, but nevertheless, it could be an opportunity for your company to switch to cleaner forms of energy.



Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager
marcus evans, Summits Division
Tel: + 357 22 849 313
Email:
press@marcusevanscy.com



About the CFO Summit 2012


This unique forum will take place at RACV Royal Pines Golf Resort & Spa, Gold Coast, Queensland, Australia, 4 – 6 March 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on improved finance strategies, technological innovation, astute leadership, and the impact of climate change on finance.


For more information please send an email to info@marcusevanscy.com or visit the event website at www.cfo-anz.com


marcus evans group – finance/insurance sector portal


Complementing our summit format, the Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations. Lend an ear to fellow experts and live news from our events on our LinkedIn and Twitter accounts!







 

 


Please note that the summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com



All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com


 

CFO Summit XXIII


Whirlpool on Finance Talent Management













Roy Templin and J.D. Rapp from Whirlpool Corporation, keynote speakers at the marcus evans CFO Summit XXIII Fall 2011, discuss the features that set apart Whirlpool’s finance talent management model.

Interview with: Roy Templin, Executive Vice President & Chief Financial Officer, Whirlpool Corporation and J.D. Rapp, Vice President, Business Performance Management, Whirlpool Corporation.


FOR IMMEDIATE RELEASE


“It is not one particular process or tool that differentiates our finance talent management model from all the rest, but how all the different components work together,” says Roy Templin, Executive Vice President & Chief Financial Officer, Whirlpool Corporation.


“We truly think of talent as a system,” adds J.D. Rapp, Vice President, Business Performance Management.


Keynote speakers at the upcoming marcus evans CFO Summit XXIII Fall 2011, in Las Vegas, Nevada, November 10-12, Templin and Rapp discuss how they successfully transformed Whirlpool’s finance organization into one that attracts and retains top talent.


What is the secret to attracting and retaining top finance talent? What are finance professionals looking for and motivated by?


Roy Templin: Once we differentiated our talent model, we began attracting top talent to the company.


Chief Financial Officers (CFOs) need to have an appropriate toolbox full of tools for people to utilize to develop their career. We make it very clear that people own their career, but we provide the tools they need to develop it.


J.D. Rapp: Finance professionals have high intellectual curiosity. They want to learn, develop and grow. We try to deliver to that. It is easy to throw around money, but that will not help retain top talent.


What is unique about your approach?


J.D. Rapp: It is more about having a process mindset than about a specific tool. We truly think of talent as a system and have adopted the Six Sigma philosophy. We think that all activities should be feeding on each other, that there must be a detailed plan in place and basic measurement criteria.


There is tremendous value in having a disciplined approach to talent development, therefore we make sure to maintain our system.


Roy Templin: Every member of the team, even at the entry level, should know and understand what role they play in achieving the finance objectives and how that relates to the overall company strategy. That is the only way they can help achieve business objectives.


Roy, your talent review process takes up one month of your time each year. Would you say this is time well spent?


Roy Templin: Time is a precious resource and four weeks might seem like a long time, but I am convinced that the single greatest thing that I can do for our company is to develop a great finance team around the world. There is no comparison between what I can do in a single day and what 1,100 finance people can do.


Spending one-twelfth of my time on talent development enables us to attract the best qualified talent in the market and to retain them once they are on the team. It is absolutely worth my time.


What do CFOs overlook when managing finance talent?


Roy Templin: From my perspective, first and foremost is the time commitment aspect. J.D. and I knew that once we put ourselves out there, we had to commit the time the initiative needed.


CFOs can get really fired up about developing talent. My advice would be to start carefully and not overpromise. Once you start, you cannot back off. People have an emotional response to talent development. If you do not deliver on your promise, it will affect employee engagement for a long time.


Consistency, and discipline to the processes established and systems deployed is critical.



Contact: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division


Tel: + 357 22 849 313
Email: press@marcusevanscy.com



About the CFO Summit XXIII Fall 2011


This unique forum will take place at the Red Rock Casino, Resort & Spa, Las Vegas, Nevada, November 10-12, 2011. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on how innovation can transform finance organizations, the CFOs role in growth and international expansion and the 2012 financial landscape.


For more information please send an email to info@marcusevanscy.com or visit the event website


marcus evans group – finance/insurance sector portal


Complementing our summit format, the Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations. Lend an ear to fellow experts and live news from our events on our LinkedIn and Twitter accounts!


                                


Please note that the summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com



All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com


 

CFO Summit XXIII


Coach, Inc. on Driving Profitable Growth








 

Mike Devine, a speaker at the marcus evans CFO Summit XXIII Fall 2011, discusses the CFO’s role in growth strategy and international expansion.

Interview with: Mike Devine, Executive Vice President and CFO, Coach, Inc.


FOR IMMEDIATE RELEASE


Traditionally viewed as a financial gatekeeper, the role of Chief Financial Officers (CFOs) has broadened in recent years beyond the conventional finance function. Today, CFOs are positioned to advise on how to grow profitably through the exploration of new geographies and the introduction of value-oriented price points.


A speaker at the marcus evans CFO Summit XXIII Fall 2011, taking place in Las Vegas, Nevada, November 10-12, Devine speaks on the importance of a CFO in leading a corporation’s growth path and capturing new markets.  


How can the CFO promote growth and open avenues to new markets? 


Mike Devine: CFOs need to play an active role in making sure that their organization drives profitable growth. During the economic downturn, we came to the realization that we needed to push growth in international markets, where we were not as mature. Presenting an even greater value to our consumers would also incentivize them to purchase more.


CFOs play a major role in making sure that value is delivered to consumers at acceptable rates of profitability. They can be active in pushing an organization’s growth internationally, by helping provide the infrastructure for expansion in new markets, and negotiating with third parties to help accelerate the pace of growth.


CFOs are also important for making sure standardized, repeatable processes are implemented to ensure efficiency, so the company can move to profitability quickly in new geographic markets.


How can the CFO maintain profitability and efficiency while the company is growing?


Mike Devine: The CFO needs to partner with the operators of the business to make sure they maintain their focus and implement the right strategies.


It should not be growth for growth’s sake, but profitable growth. The CFO has to be active in the day-to-day tactics of the business.


Do you think that CFOs excessively focus on financial risk management, overlooking other important functions?


Mike Devine: That can be a common flaw in a financial organization, but it is critical that the CFO be more than just a risk mitigator, they must also help drive growth.


At times, CFOs and finance organizations spend too much of their time keeping score of the business and trying to eliminate risk. In my opinion, successful CFOs do not strive to eliminate all risks, but help the company find the optimal risk and reward balance.


What obstacles and risks do CFOs face when it comes to growth and international expansion?


Mike Devine: Maintaining the appropriate financial controls and processes in distant geographies whilst initiating in different countries is often challenging.


The finance team can help determine the right market entry strategy. Should they enter an already established market or expand into a new one? Would it be better to form a joint venture or a distribution agreement with a third party?


What are the main criteria for international expansion?


Mike Devine: To determine whether operating in a certain country would be profitable, we must conduct market research to see if the market is large enough to support a profitable business. Only then do we make the effort to expand into that market.



Author: Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits Division

For more information: Christina Sears, Marketing Manager mediapartners@marcusevansmi.com
Telephone: 305 358 6138 ext. 233



About the CFO Summit XXIII Fall 2011


This unique forum will take place at the Red Rock Casino Resort & Spa, Las Vegas, Nevada, November 10-12, 2011. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on how innovation can transform finance organizations, the CFOs role in growth and international expansion and the 2012 financial landscape.


marcus evans group – finance/insurance sector portal


Complementing our summit format, the Finance Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations. Lend an ear to fellow experts and live news from our events on our LinkedIn and Twitter accounts!


                             


Please note that the summit is a closed business event and the number of participants strictly limited.


About marcus evans Summits


marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings. For more information, please visit www.marcusevans.com



All rights reserved. The above content may be republished or reproduced – kindly inform us by sending an email to press@marcusevanscy.com