| Q. |
What areas are you currently responsible for as Chief Financial Officer of CSR? |
| A. |
The CFO role at CSR has a broad communications and operations focus, so I have a range of the usual responsibilities including accounting, tax, treasury, risk management, audit and strategy. In addition, I also manage a range of business services including information systems, accounting services, procurement, workers compensation and insurance. I also have responsibility for a number of specific improvement projects. |
| Q. |
How do you stay current across this vast range of areas? |
| A. |
The trick is to have good people working for you and clear improvement plans across all areas of the business. You then have to manage your people to ensure they implement and achieve the improvement plans. |
| Q. |
We hear a lot of talk about the changing role of the CFO today what does that mean for you? |
| A. |
I dont think the role of CFO has changed, I think there is more emphasis on the role of CFO today than there has been in the past.
In my view the CFOs role is to set the performance framework for the organisation. There a range of areas for which the CFO is critical to overseeing.
1. The decision making process. Is there clear structure and content for decisions? Is there good information available to people?Are there measurements in place? Are there incentives in place?
2. There are a number of areas where corporate areas of business can add value i.e. to areas of tax efficiency and financing.
3. The robustness of your risk management and governance.
The CFOs who were unable to perform this broad role, and were not doing a quality job, have fallen away. As a CFO you have to be clear in the way you communicate to the board and investors, so they know if youre delivering and doing a good job. With so much transparency its more obvious if and when a CFO has not been performing. |
| Q. |
What are the major issues affecting CFOs today? |
| A. |
The single major issue affecting CFOs is the increase in asset value trying to find growth areas in your business. This really gets down to the strength of your strategy and the quality of decision making in the business.
Equally important for the CFO is communicating to your investor groups on the changes you are making i.e. IFRS. And of course, making sure the business is successful. |
| Q. |
What are the challenges you face as a CFO? |
| A. |
The key challenge for us is to maintain quality career development plans for our people. It is increasingly difficult to find good people. Trying to retain them and give them good career opportunities is a big challenge I face. |
| Q. |
What is a win you have had recently? |
| A. |
The big win for CSR has been getting the ATO approval of our capital return, which created $90 million of value to our shareholders.
CSR building products business has been lagging in performance and were now starting to see some results at last this has been another win. |
| Q. |
What are your priorities for the remainder of 2005? |
| A. |
CSR is a peculiar beast its survived out of a de-merger. The priority now is trying to ensure we can deliver growth options for the business, and finalising the implementation of IFRS and communicating that to the investor market. |
