CFOs share how they’ll spend the holidays this year

Over this past year, as the macroeconomic environment persists, I’ve interviewed CFOs across industries about how they’re meeting the challenges and preparing for more uncertainty. I’ve asked a lot of questions. But I made sure to ask one question that’s not about work: What do you enjoy doing in your spare time? Here’s what they told me.

Tracey T. Travis, EVP and CFO, The Estée Lauder Companies: “I believe fun is an absolute necessity for well-being. In my limited free time, I prioritize taking time for myself, during which I enjoy having dinner with friends, attending jazz concerts (especially Boney James!), and reading a good book or watching a good Netflix series in front of the fireplace at home.”

Kate Burke, CFO and COO, AllianceBernstein: “I prioritize my free time by spending it with my family. There is never a dull moment with my four kids, and a majority of my spare time is spent attending their various sporting events. One of the best parts about multiple sports practices and games is the ability to watch my kids in real-time as they learn the importance of a team and the lifelong lesson of what it takes to become a true team player.”

Ken Tanji, EVP and CFO, Prudential Financial: “My passion outside of work is ice hockey. I’m a fan of NCAA hockey and the NHL (an avid NY Rangers fan), and I also coach a youth hockey team. I find it a great way to disconnect from the business world, engage in something I really enjoy, and give back by teaching skills and teamwork.”

Adrian V. Mitchell, CFO, Macy’s: “One of the things my family has as a tradition, and we do it at least once a week, is finding a cool restaurant to check out. We have become foodies. We love breaking bread together, and we have great conversations. The kids love to travel as well. And all three of my kids play soccer. I love seeing them practice and going to the games.”

Xihao Hu, CFO, TD Bank in the U.S.: “As a leader, it’s important that I practice what I preach because everyone needs support from leadership when finding work-life balance. I block ‘me’ time in the calendar where I enjoy spending time with my parents or watching soccer.”

Jack Hartung, CFO, Chipotle Mexican Grill: “I love to spend time with family on the weekends. I’ve got five kids, and my 11th grandchild is going to be born in January.”

Tom Sweet, EVP and CFO, Dell Technologies: “I’m a big family guy,” Sweet told me. He and his wife hang out with their five grandkids, he said. And he’s into sports. “I grew up in Michigan,” Sweet said. “So I’m a long-suffering Detroit Tigers and Detroit Lions fan.”

Here’s to getting to do whatever it is you love during the holidays. And to continued work-life balance in 2023.

Coins2Day’ s newsletters will be taking a holiday break from Dec. 19-Jan. 3. So this is the final edition of CFO Daily for the year. Thank you for joining me on this journey in 2022. Wishing you a joyful holiday season. See you on Jan. 4.

Sheryl Estrada
[email protected]

Big deal

Concerns over the cost of living are motivating Americans to pursue a small business venture, according to a report commissioned by Intuit (Nasdaq: INTU), a financial technology platform that makes QuickBooks, TurboTax, Mint, Credit Karma, and Mailchimp. Sixty-six percent of respondents who plan to start a small business indicate inflation and the need for additional income are behind their decision. Creating a new small business as a side hustle is continuing to increase in popularity, the report found. Next year, 65% of new business owners said they will continue to work for other employers at the same time, dividing their workweeks between the two, according to the research.

Going deeper

Here are a few weekend reads:

"MacKenzie Scott, after $14 billion in giving, says she’ll start allowing nonprofits to apply for her money," by Maria Aspan

"Morgan Stanley’s chief investment officer says inflation has peaked, but next year will still be rough for stocks: A ‘growth slowdown is not yet priced’ in," by Alena Botros

"Global trade hit record highs in 2022, but it’s about to take a big hit next year," by Prarthana Prakash

"Experts say it’s OK to eat whatever you want over the holidays—there’s just one rule," by Julia Métraux

Leaderboard

Here's a list of some notable moves this week:

Daryl Bible was named CFO at M&T Bank Corporation (NYSE: MTB), effective in the second quarter of 2023. Bible joins M&T from Truist Financial Corporation, where he was the longest-serving CFO of a U.S. Regional bank. Bible joined Truist's predecessor BB&T in January 2008 after a 24-year career with U.S. Bank, serving 10 years as treasurer.

Rich Sullivan was named CFO at Momentive (Nasdaq: MNTV), the maker of SurveyMonkey and GetFeedback. Sullivan most recently served as CFO of Acorns Grow Incorporated. Before that, he served as VP of finance at Twitter and in CFO and COO roles at STX Entertainment. Sullivan was also deputy CFO at Dreamworks Animation and VP of investor relations for AT&T.

Devon May was named CFO at American Airlines Group Inc. (Nasdaq: AAL), effective Jan. 1. American’s current CFO Derek Kerr will remain at the airline as vice chair, president of regional airline American Eagle and strategic advisor. May is currently SVP of finance and investor relations. He previously served as SVP of finance and American Eagle, and SVP of network strategy.

Christina Zamarro was promoted to EVP and CFO at The Goodyear Tire & Rubber Company (Nasdaq: GT), effective Jan. 1. Zamarro will succeed Darren R. Wells, who will become EVP and chief administrative officer. Zamarro is currently VP of finance and treasurer at Goodyear. For more than 15 years with the company, she has played key roles in financial strategy, treasury, and investor relations functions.

Tim Mullany, EVP and CFO at Jack in the Box Inc. (Nasdaq: JACK) is leaving the company for personal reasons, effective Feb. 2. Mullany joined the Jack in the Box Inc. Team in January 2021. The company has initiated a search for a new CFO. Dawn Hooper, VP, controller and financial reporting, will assume a temporary role as principal financial officer.

Roland A. Caputo, EVP and CFO at The New York Times Company plans to retire next year. Caputo will continue to serve as CFO until his successor is identified. He has been EVP and CFO since 2018 but with the company for 36 years. Over the years, Caputo served in roles including SVP and CFO of The New York Times Media Group, and EVP of print products and services. 

James M. Moses was named vice chairman and CFO of First Hawaiian Bank and its parent company First Hawaiian, Inc. (Nasdaq: FHB), effective Jan. 3. Moses joins the company from First Bank in St. Louis, Mo., where he served as EVP and CFO. He previously served as EVP and CFO of Berkshire Hills Bancorp, and SVP and manager of Asset Liability Management at Webster Bank.

Jim Caltabiano was named CFO at Del Monte Foods, Inc. Caltabiano previously served as EVP and CFO for Ajinomoto Foods North America. Before that, he spent 10 years at Campbell Soup Company, where he held roles including CFO of Fresh Division. He also served as VP of finance for Campbell Canada.

Overheard

“There’s so much possible today with technology, whether it’s the way we use data, the way we put smarter algorithms to work, or the way we deploy automation through our supply chain. There are a lot of changes coming in distribution centers, fulfillment centers, last mile with EVs (electric vehicles) and delivery."

—Walmart CEO Doug McMillon told CNBC the company is continuing to look for new technology to maintain inventory and increase the agility and speed of the e-commerce business.