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A GAME PLAN FOR GROWTH Inside Andrew Page’s strategy to triple Under Armour’s revenue by 2020


Real Possibilities is the destination Disrupt Aging is a way to get there

www.AARP.org


PROFILE

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Under the Hood Five executives at prominent transportation companies share how there’s more than one way to steer success. Page 110

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S T R AT E G Y

A Perfect Pour Sierra Nevada Brewing Co. and CFO Paul Janicki are constantly making a grade A ale even greater.

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Power Player The Dallas Stars’ vice president and general counsel, Alana Newhook, is a hockey-player-turned-lawyer who’s ready to face off against anything for the team.

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Back from the Brink Everyone loves a comeback story, and Marvin Levine has lived it while bringing back General Growth Properties from near decline.

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Rx Meets HR Lynnsie Peterson and the AstraZeneca HR team need to know the company’s business from the inside out.

Loud and Clear Skullcandy’s Patrick Grosso knows open communication is instrumental in sound leadership.

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Alana Newhook: Kristin Deitrich; Earbuds: Ruslan Kudrin/Shutterstock.com

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C O M PA N Y

C U LT U R E

E FFECT

Diamonds are Forever

Stronger Together

Leigh Harlan believes the 178-year-old Tiffany & Co.’s biggest strengths are its legacy and longevity.

T.D. Williamson and Jay Dalton are making sure the legal team is in partnership with the company.

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HUB Without a Cap Insurance brokerage HUB International thrives as it implements new HR technology.

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Tuning In For A+E to bring joy to millions, it must first bring joy to its own.

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Get Away Any Day Chris Lund of Skyline Hotels & Resorts has reimagined seasonal vacations as year-round destinations. Under Armour, HUB International: Kristin Deitrich

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Poised for Greatness Under Armour’s corporate controller has the right plan and the perfect team in place for the company to reach new heights.

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PROFILE

PUBLISHING Guerrero Howe, LLC

Editorial Directors Megan Bungeroth Cyndi Fecher Senior Editor Adam Kivel Editors Steven Arroyo Danny Ciamprone Jonas Weir Design Director Joshua Hauth Senior Designer Holly Leach

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Photo Editor/Staff Photographer Kristin Deitrich

SALES & ACCOUNT MANAGEMENT VP of Sales Kyle Evangelista Director of Sales Operations Philip Taylor Director Kim Harrington

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Content Advertising Managers Ellen Aleksa Christina Brown Lauren Cavers Kim Harrington Brandon Havrilka Ben Julia Ben Keller Mary Kellogg Mark Orlovetz Jenny Vetokhin Ashley Watkins JD Whigham Director, Executive Success Anna Jensen Executive Success Managers Justin Joseph Josh Rosen

Subscriptions + Reprints For a free subscription, please visit profilemagazine.com/ subscribe. Printed in China. Reprinting of articles is prohibited without permission of Guerrero Howe, LLC. For reprint information, contact Stacy Kraft at 312.256.8460 or stacy@guerrerohowe.com. Profile® is a registered trademark of Guerrero Howe, LLC.

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Growing up, I always said money wouldn’t change me. That is, until I started playing the beloved board game Monopoly. The instant I got a few of those gold-colored $500 bills in the bank, my personality changed from relaxed to ruthless. I would buy all the houses without converting any properties to hotels just so no one else could get any. Any deal I made was to advance my own greed-fueled empire. And more than once, I tried my hand at extortion in this pretend environment. But there’s another, more benign, aspect about Monopoly that I truly loved: building a sustainable infrastructure. Many will say Monopoly is all luck, but I also obsessed over the financial strategy portion. I distinctly remember even as a young kid thinking how wonderful it was that something that sounded dull—like basic math and accumulating fake properties—could bring me such pure, unadulterated joy. Now that I’m older, I felt something similar when I went through our Focus section (P. 134) that shines light on the world of tax executives. Originally, I heard the title VP of tax, and I imagined executives with countless Excel docs open, calculators at their fingertips, hiding out in a back room. But these executives showed me how wrong I was. Let’s picture the executives in our Focus section playing Monopoly with me (they don’t know any better). I get to be the horse-and-rider game piece, while across from me, David Hasson of BorgWarner (P. 136) chooses the car. It’s an obvious choice, as he not only has a passion for taxes, but since he was sixteen, cars have been an integral part of his life. To my right is Vince Inendino of TransUnion (P. 141) who chooses the shoe. The piece is a symbol of a 1930s work shoe that represents hard work and the riches that come with it. Inendino is a team player—a far cry from my idea of a tax executive in a dark office crunching endless numbers and filing reports, he’s out in the field with his team building an infrastructure that utilizes more than just numbers. Then to my left is Kirsten Comley of Urban Outfitters (P. 143), who may choose the thimble, but little of her role has anything to do with sewing. In fact, she’s helping the entire company grow by tracking finances and taxes, and keeping up with the latest in tax law. Each executive featured in our Focus section shares a common thread: They’re not cooped up behind the keys of a calculator or filing forms; they’re aligning taxes with all aspects of the company. And the more they do this, the more times their respective companies can pass GO, building on a strong foundation.

Danny Ciamprone Editor Kristin Deitrich

CREATIVE VP of Creative Kathy Kantorski

How to Lose Friends and Win Monopoly


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Alana Newhook VP, General Counsel Dallas Stars Frisco, TX

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Breakaway Plays Off the Ice The Dallas Stars never had in-house legal counsel—until a tough, young, hockey-playing lawyer set her sights on defending the NHL organization Words by B R I A N B A R T H

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Photos by K R I S T I N D E I T R I C H

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A

Alana Newhook was made to be a lawyer for a professional hockey team. It’s not that it didn’t take gumption to get there, but the vice president and general counsel of the Dallas Stars, a National Hockey League franchise, is from Toronto—where the love of hockey is akin to a religion. Yet Newhook was more than just a fan; she also had serious chops on the ice. And the toughness she learned playing hockey continues to serve her well in the legal world. By the time she started kindergarten, Newhook was battling her two older brothers and their friends in neighborhood games. After moving to Pennsylvania at the age of seven, she says her mom convinced the local league to let her play. “There wasn’t a girls’ team in our area, so I cut my hair short so it was not visible under the helmet and became the only girl on the boys’ hockey team.” High school and college then brought the opportunity for her to play on an elite women’s hockey team. School also brought out her academic talents, which landed her at Southern Methodist University’s Dedman School of Law in Dallas, where hockey is almost never played outside of the indoor ice rink. While she was at the university, a light bulb went off: apply her sharp mind to promote the game she loves most. “I’ve always kept hockey close to me in my life, so I decided to try to figure out more about the business of hockey and of sports in general,” Newhook says. “All through law school, I was focused on figuring out how, as a lawyer, I could be involved in sports and add value to a team or franchise.” Newhook soon realized that sports law “wasn’t really a thing,” as she says. Unlike corporate law, real estate law, or numerous other specializations, there is no preestablished track to become counsel for a sports organization. So Newhook, who describes herself as a “strategic planner and proactive person,” chose to blaze her own path. That’s when fate interceded. “In the course of my research, I stumbled across and ordered a book on winning NHL franchises called Behind the Moves, which as it turned out was written by Jason Farris, the executive vice president of the Dallas Stars,” Newhook recalls. “A day later, I got an e-mail from him and we scheduled a time to connect to pick up the book.” Upon meeting, Newhook shared a bit about her background and career goals. She recalls that Farris was intrigued: he thought maybe her aspirations and his organization’s needs might align. In 2014, Newhook was brought on as the director of contract management, and last year, she became the head of the team’s legal department. Until recently, it was a department of one. Working for the Dallas Stars was her second job out of law school. “They weren’t actually looking for a lawyer,” she says. “They relied entirely on outside counsel. But I was able to use my proactive efforts to meet Dallas Stars CEO Jim Lites and team owner Tom Gaglardi, and make my pitch. I said, ‘I would love to be part of your organization. Is there anything I can do?’” A few months after joining the organization, Newhook faced her first major project. Dallas Stars leadership moved to acquire the Texas Stars, an American Hockey League (AHL) minor-league affiliate based in Cedar Park,

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“Being the only girl and being the youngest, it made me pretty tough. It takes quite a bit to overwhelm me.” A L A NA N EWH O O K

Texas. She worked closely with Farris and Lites on the deal, which included taking over operation of the Cedar Park Center—the home of Texas Stars and a popular concert and event venue. For Newhook—then just two years out of law school—the experience was invaluable. “There were a lot of moving pieces,” she says. “It involved working with the AHL, negotiating with the City of Cedar Park, and various real estate components. It was a great opportunity for our organization to have synergy with the minor-league team and a wonderful experience for me as a lawyer.” On the surface, the day-to-day responsibilities of in-house counsel at a sports organization differ little from most other corporate legal environments: business acquisitions, contract management, HR responsibilities, intellectual property matters, compliance, and risk assessment. Newhook looks after all of these areas as the Dallas Stars’ general counsel, and she engages outside counsel for litigation work. But Newhook says there are “unique overlays” for a sports organization lawyer, such as the NHL’s collective bargaining agreement. On the other hand, there’s a lot that goes into running a sports organization beyond just tending to the affairs of the team. For example, Newhook is responsible for the legal affairs of a Texas chain of youth ice hockey centers operated by the Dallas Stars. “Every professional sports team has its own corporate structure, and many have other business areas that fall under the same


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ownership,” Newhook says. “I speak with a lot of young lawyers and law students, and they all want to know how to be a sports lawyer. My main advice is to focus on a variety of different legal fields if your client is in the sports business. Ultimately it is about applying your skill set and your legal training to the needs of a sports team.” Of course, there are perks, to say the least, such as getting the opportunity to attend hockey games. But more importantly, Newhook says working for a sports organization means seeing the fruits of your labor make an impact on the thousands of fans who follow the team. Whether it’s negotiating contracts for the improvement of an arena or parsing intellectual property rights around the team logo and memorabilia, every move has a direct connection to the fans—who, by definition, are a jubilant and appreciative audience. “Being a fan myself, I understand the joy that they have when they come to see our players perform, and being able to augment that by using my legal skills in support of our business team is such a privilege,” she says. “It’s so fulfilling when I see fans wearing the team shirt that we worked so hard on or taking a picture with our mascot.” Even with an abundance of responsibilities, Newhook knows she can handle whatever comes her way. “I grew up with two older brothers and a lot of their friends in the house, so being the only girl and being the youngest, it made me pretty tough. It takes quite a bit to overwhelm me,” she says. “Coming into this organization as a young attorney required that I be confident in my abilities to help find the best solution for the organization. But the challenges and the opportunities to overcome them are what makes me look forward to going to work each day. I think that’s a required personality trait for being an in-house counsel.” Newhook adds that she doesn’t shy away from a challenge, and her leadership on and off the ice proves that. Now that the Dallas Stars legal team has just doubled in size with the hiring of a lawyer, Newhook is even more prepared to face off for the Dallas Stars.

Winstead is proud to be associated with Alana Newhook and the Dallas Stars. Alana is a rising star among NHL general counsels—a trusted advisor, smart and savvy beyond her years. Her collaborative approach to business and legal matters is a winning formula admired by those with whom she works. Winstead is honored that the Dallas Stars is among the teams, sport networks and world class venues it represents throughout North America.

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Excellence. Leadership. Ahead of the Competition. Alana Newhook

Vice President & General Counsel Dallas Stars Winstead celebrates our friend Alana Newhook for her outstanding accomplishments, distinguished leadership and winning spirit. We wish you continued success.

winstead.com

© 2016 Winstead PC


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To Stay at the Top, Work on Your

Foundation Heidi Roth of Kilroy Realty outlines her recruitment and technology initiatives that keep the company competitive in a saturated market By M A R Y K E N N E Y

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When working in one of the most competitive markets in the country, the first challenge is to stand out in a crowded field. With a focus on sustainability and creative work spaces, Kilroy Realty owns, operates, and develops commercial real estate in California and Washington, some of the most competitive markets in North America. In these West Coast markets, Kilroy must find ways to distinguish itself and innovate. For Heidi Roth, executive vice president, chief accounting officer, and controller at Kilroy Realty, two major priorities toward this goal are recruiting and retaining talent and implementing new technology to improve efficiency. Roth is one of the most senior women at the company, and her workload includes overseeing the core accounting functions, payroll, SEC and tax compliance, and participating in the quarterly earnings process with investors. Still, she’s identified talent recruitment and leveraging technology as two areas in which Kilroy Realty should focus on being an industry leader. CEO John Kilroy supports the company’s culture of hiring the best and brightest talent it can and listening to ideas across


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Heidi Roth EVP, Chief Accounting Officer, Controller Kilroy Realty

Jim Cornfield

Los Angeles, CA

the board—not just from the top down. For Roth, a way to ensure these ideas are heard is through an employee engagement initiative. This initiative, which Roth works on with a team of individuals throughout the company, has both informal and formal components. Informally, it’s been about shrinking the divide between company leaders and employees: talking to people daily, keeping doors open, and team-building outings. “It’s about being a resource for people and breaking down barriers,” Roth says. Formally, however, it’s about focusing on recruiting and

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mentoring people in different career points and roles—and making sure they have the tools to succeed. Creating a culture that emphasizes engagement is critical not only for Kilroy, but for Roth’s department. She works to ensure her team has a good relationship with business units across the company, which she says is crucial to Kilroy’s success. “To avoid surprises and ensure we are making informed business decisions, it’s helpful to include the right people from the beginning,” she says. “Unintended consequences can be avoided

“If you put your head down, do a good job, and make contributions to the team, you will be recognized.” H E I D I R OT H

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Big ideas can come from anywhere.

Share your tech ideas in the pages of Sync. Visit sync-magazine.com

For editorial consideration, contact drew@sync-magazine.com

with education and strong relationships between the accounting team and the business units.” But recruitment and relationships are only part of Roth’s work to keep Kilroy an efficient and enjoyable place to work. Another is improving technology for her team in accounting, which also creates efficiency throughout the company. This is important to Roth because of the accounting department’s purpose within the company: “We’re a service department. We have to be cognizant of that in order to help the business operate efficiently,” she says. For the past four years, Roth explains, Kilroy has been focused on better leveraging technology to improve efficiency. This focus has benefited her team in several ways. One is that they have automated many processes that save time and reduce the risk of human error, which is critical for a public company. Automating processes, Roth says, has also improved efficiency for other departments in the organization. Introducing new technology is difficult, she adds, but has been worth the effort in the long run. “Once you start implementing solutions that make people’s jobs easier and allow them to perform administrative tasks more efficiently, people are more open to future initiatives,” she says. Engagement initiatives, leveraging technology, and automating routine processes have all contributed to the kind of culture Roth believes is important to Kilroy’s success. Still, company culture is only part of any individual employee’s success. At Kilroy Realty, there are many opportunities to achieve success, but employees have to be just as invested in the company. “Kilroy has a promote-fromwithin culture,” Roth says. “If you put your head down, do a good job, and make contributions to the team, you will be recognized.” She adds that confidence in yourself and your team is crucial. “Don’t be afraid to hire people smarter than you,” she says. “Invest in your people, and give them opportunities to learn and grow as professionals and individuals. Figure out what is important to your success, and weed out the distractions that won’t help you get there.” Roth’s focus on these initiatives at Kilroy has made the company a workplace that provides opportunities for success. Ultimately, staying competitive is about nurturing the real estate company’s biggest asset—talent.

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Let Go to Lead

Galyna Andrushko/Shutterstock.com

Diamond Offshore Drilling general counsel David Roland discusses why he prefers a hands-off management style

By J O E DY T O N

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When David Roland steps into the offices of Diamond Offshore Drilling, his day could go in a number of different directions. After all, at any given moment he’s a business leader, a people manager, or a chief legal officer. Roland’s official title is senior vice president, general counsel, and secretary for Diamond Offshore Drilling, a leader in the offshore drilling industry that provides contract drilling services to the global energy industry. He’s responsible for ensuring Diamond Offshore operates lawfully at all times, and he provides legal advice on a wide variety of topics, usually with no advanced notice and without the benefit of any prior research or preparation. That being said, he still needs to fully understand all business implications and risks of said advice. Roland leads a department of eleven professionals, including five other lawyers, and faces the challenges that every manager confronts, including how to effectively motivate and enable each employee to grow and develop. As general counsel, Roland is also in a position where he’s expected to display unquestioned integrity and ethics at all times. “Perhaps more than any other employee without the title of CEO, I believe the general counsel sets the ethical tone for a company,” Roland says. “I firmly believe not all unethical companies have unethical general counsels, but I also firmly believe that an unethical general counsel will almost assuredly result in an unethical company. When you combine all of that together, in order to be truly effective, the general counsel has to find a way to be both a lawyer and senior management.” Roland admits that his function as a manager over the past two years has been particularly challenging because of a severe downturn in the oil and gas industry. Similar to other companies in the industry, Diamond Offshore has dealt with cost-cutting, including layoffs. “It’s a unique time in the oil and gas industry right now,” he says. “As a result, we’ve had many difficult discussions with our clients and vendors over the last two years, probably some of the most difficult interactions I’ve experienced in my career.” However, if there’s anyone who can navigate a team through turbulent waters, it’s Roland, thanks to his background and experience. After law school, he served a one-year appointment to work for the Texas Supreme Court, a job for which he was grateful. It certainly started his career off on a positive note. “My time at the Supreme Court served as a great transition,” he says. “Going from law school straight to a law firm is often difficult. Working as an attorney for the court was a nice transition from law school to the real world of demanding hours, high

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OFF THE CLOCK WITH DAVID ROLAND David Roland’s wife was diagnosed with multiple sclerosis (MS) in 2005. Since then, he’s raised more than $220,000 for MS research. For the past nine years, Roland has participated in an annual 180-mile fundraising bicycle ride organized by the National MS Society.

pressure, and diffiDavid Roland cult work at a large law firm.” SVP, General Counsel, After his stint Secretary with the Texas Supreme Court, Diamond Offshore Drilling Roland worked as an associate at a Houston, TX large law firm for six years until the early 1990s, when many of the larger firms began laying off lawyers, including young partners. The layoffs left him contemplating going in-house, so he left the firm to join Caltex Corporation, a large oil refining and marketing company. Four years later, Caltex decided to move its corporate headquarters from Texas to Singapore, so, rather than move overseas, Roland accepted a job as a lawyer at the then-thriving corporate headquarters of Enron Corp. After six years, including working through one of the largest bankruptcies in US history, Roland joined ION Geophysical Corporation as general counsel, where he remained for more than a decade. When he received an offer to join Diamond Offshore as general counsel, he made the move not only because Diamond was a larger company with a stronger balance sheet, but also because he thought it was a good time to make a change. “Once you are doing the same thing for ten years, you often need to be challenged professionally,” he says.

Roland also supports teenage drug and alcohol recovery programs. Houston has been a pioneer in developing resources to assist teens in recovery, including sober high schools and alternative peer groups, and Roland and his wife are doing their best to support those resources. “We’ve attended too many funerals of wonderful young people suffering from the disease of addiction,” he says. “Unfortunately, recovery resources are a growing need.”


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As his career progressed, so too did his levels of responsibility. He attributes much of his success to being able to stay in each position for a sufficient amount of time before being elevated to the next level. Combine the gradual buildup in responsibility with working alongside talented lawyers and other professionals, and it’s easy to see why Roland has found the success he has today. “I’ve been blessed to have worked for and with some really tremendous lawyers and individuals,” he says. “I believe role models are important, and I’ve had an abundance of fantastic role models throughout my career. I’ve also had the luxury of experiencing a gradual upward trend in responsibility during my career. I can’t imagine being an in-house lawyer without first having spent six or seven years at a large law firm learning from great lawyers. Each of those experiences prepared me for my next experience. As a result, I never once felt like I was diving into the deep end of the pool.” Working for decades in a variety of different law environments has allowed Roland to develop his own distinctive brand of leadership, which for him revolves around a hands-off approach. He tries to employ the most effective and experienced professionals he can find, then delegates broad responsibilities and authorities to them. He also allows his staff to interact directly with their in-house clients, with minimal supervision from him. “I allow and expect my lawyers to lawyer,” he says. “Of course, I remain available for general direction, advice, and input. But I don’t like to micromanage my employees. Before I became a general counsel, I was always most satisfied when I was treated as a professional and given the authority to define and perform my job in the manner I felt most effective, with minimal supervision. So, I’ve learned that lesson and tried to allow my group the flexibility to do the same.” Duane Morris LLP congratulates David Roland and Diamond Offshore on this Profile feature. With more than 750 attorneys in offices across the United States, Europe, Asia, and the Middle East, Duane Morris is dedicated to providing innovative solutions to today’s legal and business challenges. We are honored to work with clients like Diamond Offshore and David Roland.

Duane Morris Congratulates

DAVID L. ROLAND Senior Vice President, General Counsel and Secretary of

DIAMOND OFFSHORE On His Leadership and Accomplishments in the Oil and Gas Industry We are grateful for many years of service to Diamond Offshore and look forward to its continuing success. For more information, please contact: SHELTON M. VAUGHAN, P.C., Partner Duane Morris LLP 1330 Post Oak Boulevard, Suite 800 | Houston, TX 77056-3166 P: 713.402.3906 | smvaughan@duanemorris.com www.duanemorris.com

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Chairman, CEO Neo Group Walnut, CA

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Doug Gorenstein

Atul Vashistha


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The Power of Outsourcing Atul Vashistha explains how, when done right, globalized staffing and sourcing can provide benefits for companies, consumers, and communities By J E F F S I LV E R

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As common as globalization and outsourcing have become, the concepts can be extraordinarily polarizing. Atul Vashistha, founder and CEO of Neo Group, understands both the positive and negative perspectives of these processes. However, he has also seen that, if handled correctly, these practices can be beneficial for companies, consumers, and communities. Neo Group, which helps clients become what Vashistha describes as “better globalizers,” accomplishes this by helping them focus on four key strategies: what to globalize, where to globalize, who to globalize to, and how to manage globalization. “You can’t simply outsource and have it be successful,” Vashistha says. To illustrate this point, he refers to a gaming client that engaged Neo Group after it had outsourced nearly its entire research and development staff. This decision had resulted in a 400 percent increase in the outsourced software development having to be reworked in order to fix mistakes, which negated the very savings and efficiencies the initiative had been expected to produce. To avoid such outcomes, Neo Group works closely with clients to develop a comprehensive analysis of their intent and strategies through a “co-creation” process. This includes assigning client employees to the Neo Group team to facilitate smooth and efficient communication in both directions. The integrated team helps Neo Group advisors understand the client organization better and enables employees to become ambassadors for introducing Neo Group’s data-driven analytical processes and supporting them on an ongoing basis. Following this approach, a semiconductor client was able to reduce the cost structure of its technology run operations by two-thirds over the course of six years. This involved shifting its engagement model from on-premises to a global model, which focused on managed services instead of staff augmentation and implemented benchmarks that were supported by dashboards and scorecards to maintain and monitor appropriate metrics. “Clients that have the discipline to follow a systematic process to identify opportunities, ensure good governance, and maintain continuous improvement of efficiencies and productivity and are open to new approaches like analytics and automation get the most out of global sourcing,” he says. “They understand that success requires constant nurturing.” In addition to being an expert on globalization and outsourcing with three best-selling books on the subjects, Vashistha is also devoted to ongoing learning and sharing best practices. He is an adviser to several start-up companies and a founding board member of the International Association of Outsourcing Professionals. He also serves on the boards of YPO, the Sourcing Industry Group, Shared Assessments, LatAm Alliance, and the Department of Defense’s Defense Business Board. “All of us have a responsibility to give back, to pay it forward. My board activities help ensure that my industry stays healthy, but they’re also tremendous opportunities to interact with peers and get exposure

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SHARING WISDOM Atul Vashistha is an accomplished author of three books focusing on outsourcing and globalization. Along with a strong focus in these two areas, Vashistha is also focused on governance, new media, and global talent. Outsourcing Wisdom: The 7 Secrets of Successful Sourcing In Vashistha’s two decades of consulting, he’s recognized trends that contribute to success in outsourcing. His book is about sharing those practices—or the “seven secrets.”

Globalization Wisdom: The 7 Secrets of Great Globalizers Vashistha recognizes there are seven best practices contributing to services globalization. This book is all about sharing those secrets, as well as advice from several globalizers.

The Offshore Nation: Strategies for Success in Global Outsourcing and Offshoring Neo Group’s CEO helps readers determine what role offshore services should play in a company and how to integrate this corporate strategy.


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Section 2a: Terms of Engagement

THE FIRST PARTY SHALL EMPLOY THE SECOND PARTY STRICTLY AS A SITAR INSTRUCTOR. to a variety of different approaches and ways of thinking,” he says. Vashistha recently founded the Global Business Services (GBS) board to create a network of GBS Heads of Global 2000 companies. Representatives from some of the world’s largest corporations recently joined a GBS conference call to share ideas, challenges, and solutions related to operations maturity and automation. Vashistha was surprised by how candid, supportive, and forthcoming all the participants were, even when discussing their shortcomings. The experience inspired him to develop SourcingBoard.org, which launched in the fall of 2016. It offers a buyers-only curated peer network for leaders who source technology and technology-enabled services in a confidential and moderated environment, where they can learn from one another. Vashistha expects to have 500 members by 2020. Creating such educational spaces reflects the importance Vashistha places on learning, a lesson his daughter taught him when she was just eight years old. Vashistha appeared in a CNN interview on the impact of global outsourcing, and afterward, she pointed out that he needed to “pay attention to why some people don’t agree with you.” The comment impacted him in several ways. First, he began focusing on the arguments of globalization detractors and responding constructively. For example, he emphasized the need for outplacement and retraining for employees whose jobs are outsourced. Secondly, he became acutely aware of the impact girls have on their families worldwide. Ever since, he has contributed to numerous international organizations that support girls’ education. All of these experiences and priorities have led to Vashistha’s vision of Better Place 360, a formalized version of “giving back.” It extends beyond his belief in the benefits of outsourcing to the idea that globalization changes people’s lives. He points to huge middle-class growth in places such as China, India, Brazil, and the Philippines and greater access to affordable goods for many, helping to raise standards of living. This has occurred

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“You can’t simply outsource and have it be successful.”

(First Party)

(Second Party)

What began as a mentor-pupil relationship grew over time into the sitar maestro, Ravi Shankar, treating George like family. The results of their beautiful relationship can still be heard Across the Universe.

ATU L VA S H I ST HA

simultaneously while enabling US companies to be more competitive worldwide. He concedes that outsourcing and technologies associated with it can also contribute to difficult transitions for workers in the United States and elsewhere. For example, the Foxconn workforce that produces iPhones outside Shanghai was reduced by 55 percent in two years due to automation. So, as part of Better Place 360, Vashistha contributes half of his book royalties to organizations that support programs for education and retraining. He also encourages associations to provide those services along with job placement and training for younger workers so that they are prepared for the marketplace. He encourages Neo Group clients to do the same. “Through sensible, responsible globalization,” he says, “there are tremendous opportunities to create our own version of the future, but we have to have the courage to seize it.”

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HCL Technologies is a leading global IT services company working with clients in areas that impact and redefine the core of their businesses. HCL Technologies operates out of 32 countries and has consolidated revenues of US$ 6.4 billion. HCL focuses on business transformation, underlined by innovation and value creation, offering an integrated portfolio of services including BEYONDigital, IoT WoRKS, Engineering Services Outsourcing and Next–Generation ITO that focuses on integrated infrastructure services, applications services and business services. With 107,968 professionals from diverse nationalities, HCL Technologies focuses on creating real value for customers by taking 'Relationships Beyond the Contract'. www.hcltech.com

Shevy Magen Mobile: 310-880-8788/ shevy.magen@hcl.com


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Michal Ludwiczak/Shutterstock.com

The General Manager’s Mind-set

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AstraZeneca’s HR team takes a holistic approach to being an active business partner and contributing to the company’s growth and competitive advantage By J E F F S I LV E R

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Even the most successful companies can’t rest on their laurels when it comes to finding great talent. AstraZeneca, the pharma and biopharma company known for its marquee medicines such as Prilosec, Nexium, and Crestor, is careful not to become complacent, and is always seeding the product and talent pipelines. Its people strategy, for instance, helps develop organizational capabilities, invests in leadership development, and drives a vibrant performance culture that keeps the company nimble in a dynamic and competitive business environment. As part of this forward-looking initiative, Lynnsie Peterson, senior director of human resources, is quick to point out that AstraZeneca has always believed in developing and investing in every employee. But now, there is a focus on ensuring that those efforts target business-critical roles and capabilities that fuel growth, facilitate proactive insights, and develop competitive advantages. “We used to focus on an individual’s functional knowledge in a particular discipline, but that’s just the price of admission today,” Peterson says. “To maximize effectiveness, we need employees to be agile, resilient, and able to collaborate and look beyond their own areas of expertise.” Regardless of professional responsibilities or business units, this approach requires a “general manager’s mind-set.” Within HR, this includes having strong business acuity and understanding every aspect of the business. In practical terms, this can be applied to developing strategic workforce plans that analyze current talent needs and anticipate future capabilities to support the organization’s three-to-five-year business objectives. Peterson refers to these plans as “an integrated and continuous process that identifies critical gaps between urgent workforce resources and future needs in the context of business strategies.” “Workforce plans include internal and external data insights that enable us to better understand our workforce and clearly articulate talent needs in a proactive way. We can accelerate internal talent development,

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“Hearing firsthand from customers helps identify gaps in training or where we might have an opportunity to improve how we operate.” LYN N S I E P E T E R S O N

develop effective external talent acquisition strategies, address retention of employees with key capabilities, and identify surplus or soon-to-be-irrelevant skills. Ultimately, it all helps us bring life-saving medicines to patients more quickly and effectively,” Peterson explains. To support this approach, HR business partners must have comprehensive functional understanding of AstraZeneca’s business, as well as expertise about what drives the demands and behaviors of its clients. For this reason, Peterson often accompanies sales teams to hospitals and physicians’ offices to get firsthand feedback about company

products and how clients are responding. This can also provide insight into what core marketing messages are resonating—and which concerns may need more attention. “Hearing firsthand from customers helps identify gaps in training or where we might have an opportunity to improve how we operate,” she says. “It marks a real evolution of HR in the role of active HR business partner.” Successfully fulfilling this new role is critical to contributing to AstraZeneca’s goal of establishing a reputation as a great marketing company. In the past, this meant that pharmaceutical companies created marketing messages and collateral built on clinical


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data and extensive market research. It also relied on outside agencies Senior Director of HR for distribution. Now, however, AstraZeneca customers have Wilmington, DE access to all of this information online. As a result, companies have to make clinical attributes part of the initial value proposition and use internal resources to develop customer-centric visions of the brand. New strategies also require using the underlying science to leverage the values, behavior, and demands of physicians and consumers. The HR department at AstraZeneca has taken numerous steps to help facilitate development of the expertise and capabilities needed to succeed in this environment. “We develop leaders to appropriately assess talent so that we have the right people in the right positions, and also maintain a rich pipeline of talent with the potential to move into various roles across the commercial business,” Peterson says. To foster this notion of working differently and going beyond boundaries, the business also created cross-functional working teams that eliminate traditional silos. “Most people Lynnsie Peterson

weren’t used to working outside their business units. But now we have a diversity of talent and expertise across the commercial organization with sales people going into marketing and vice versa. That scenario of integrating skills, experience, different ways of working, and various perspectives has produced great results,” Peterson explains. All of these efforts to integrate business specialties, to reorganize HR’s operating model to be fit-for-purpose, and to prioritize the capabilities necessary to secure AstraZeneca’s success and recognition as a leading pharmaceutical company, have, in fact, benefited the company. The depth of succession plans in business-critical roles across the company has greatly increased, and the ability to attract the best talent in the industry has made a difference over the past two years. Encouraging innovative risk-taking has resulted in more thoughtful solutions to business challenges, and facilitating cross-functional initiatives has improved levels of collaboration, enterprise thinking, business acuity, and engagement scores year after year. “These are the kinds of results we need in a market that’s changing rapidly,” Peterson says. “To stay competitive, we need to change just as quickly by working smarter and more effectively and by putting innovative workforce-planning strategies in place that are completely integrated and coordinated with business priorities.” By leveraging HR professionals’ innate passion for developing people and having the foresight to build future capabilities, Peterson and the HR department—along with all of the company’s business units—are helping to support the platform to ensure AstraZeneca’s success for years to come.

Global Coaching Alliance partners with leaders and teams to refine strategies, drive critical business outcomes, and become more effective in shaping the world’s future. With 80 coaches on four continents GCA’s coaching and leadership development services are designed to increase our client organization’s capacity for learning and performance. website: www.GlobalCoachingAlliance.com Contact: handin@globalcoachingalliance.com

Global Coaching Alliance congratulates

Lynnsie Peterson

for her distinguished achievements. We are proud to serve as her partner in cultivating leaders who positively shape the world's future.

With world class coaches on four continents, GCA partners with organizations, matching talented coaches with inspired leaders to bring about extraordinary results.

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Lynn Roger Chief Transformation Officer BMO Financial Group Toronto, ON

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Human-Centered Transformation BMO Financial Group’s chief transformation officer, Lynn Roger, keeps a 200-year-old company as agile as the new players By M I C H A E L H E R N A N D E Z

As chief transformation officer at BMO Financial Group, Lynn Roger strives to improve the ways that business is organized and problems are solved. For Roger and BMO, this goes far beyond motivational posters, new furniture, or renaming departments. She’s testing processes that will become the future of BMO—Canada’s first bank to enter its bicentennial year and an institution that is competing with the new industry players that are often able to move much faster than traditional companies. As the former chief talent officer, Roger knows that major structural change requires innovation on a personal level. For BMO, understanding employees is inextricable from understanding clients. Their transformation, she says, is a human-centered one.

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“It’s all about people,” Roger emphasizes. “Technology is an enabler. It’s important to remember that there’s a human at the end of that technology solution. It’s all about that side of the transformation.” This relates to the contradiction that’s inherent in what people expect from a bank today. On one hand, people want an increasing number of mobile services completed quickly and without a trip to a bank branch. On the other hand, people want to feel that they matter when they need services that do require human connection. While innovation has allowed BMO to introduce new initiatives such as mobile account opening, Roger also emphasizes that its collective ambition is to keep customers at the center of everything the company does. “Whatever we do, whatever we build, whatever we design, it’s all done with the customer and how it helps the customer, in mind,” she says.

“It’s important to remember that there’s a human at the end of that technology solution.” LYN N R O G E R

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BMO BY THE NUMBERS

$692B Beyond consulting: a partner for transformation and growth

As of July of last year, the amount of total assets reported by BMO Financial Group, a diversified financial services provider based in North America

46K The number of BMO Financial Group employees who provide services in retail banking, wealth management, and investment banking

12M The number of daily customers served across the continent by BMO through personal and commercial banking, wealth management, and BMO markets

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Now, Roger brings that creative vision for shaping career paths to innovating across the company. As someone who has mentored and guided hundreds of leaders in her company, she encourages people to seek diverse career paths. While some people Roger has advised feared taking on unexpected new roles, she extolled the value of rich, useful expertise that varied experience offers. To that end, her office is now experimenting with building multidisciplinary teams that can tackle new challenges much more effectively than a traditional siloed company. “Perspective and diversity of thought are so important, not just for personal development, but also for bringing better customer solutions,” Roger explains. Of course, taking on a new and unexpected role presents its share of risks, but Roger serves as a model for the benefits of potential hazards. In her thirty-seven years at BMO, she’s taken on challenging new roles, including her move into human resources and her most recent shift to the Office of Transformation, which she describes as the biggest risk of her career. “That was probably the most daunting assignment I’ve ever been given,” she admits. For starters, the role didn’t exist before she took it. There was no playbook or set of defined processes for what the chief transformation officer would do. And, in order to be agile, Roger’s new team was much smaller than the 150-person team she led in human resources. That smaller team brings quite a diverse set of experiences and relevant skill sets to bear on their new challenges—and they’re already making an impact in dramatic ways. “It’s actually quite an eye-opener,” Roger says. “They bring the full wisdom of all their experience to bear to solve a problem. It’s an interesting dynamic when you have leaders that come from so many different perspectives, different lines of business, different experiences. The richness of the solutions is quite amazing.” While Roger acknowledges specialization has its value, she also expresses that busting functional and business silo behaviors are the key to changing the way the company works. BMO has adopted some agile principles in order to move as quickly as potential competitors. If BMO had tackled mobile account opening in a typical fashion, the process would have taken significantly longer than the rapid approach it took. Now that it has found success with delivering individual projects quickly using multidisciplinary colocated teams, it’s working on scaling that model for the company. Roger’s innovative, people-centered approach goes back to her days in talent management, and she describes collaboration and cocreation as two of the major principles she brought with her to build the Office of Transformation. When she was chief talent officer,


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“Changing the work environment is not about changing the furniture. This is not a real estate play. This is bringing real estate, technology, and people together.” LY N N R O G E R

she crowdsourced a revitalization of BMO’s values and behaviors with employees from every level, geography, and business area—an unusual move for a traditional company, but not for Roger and BMO. “We want to bring our brand to life in dynamic ways,” she explains. “We could have chosen to put ten smart people in a room to come up with a list of our values, our behaviors, and how we aspire to treat each other, and that would have been fine— but that would have been a poster on the wall. By crowdsourcing our values with our employees, we made it ours. Everyone feels ownership. You have the fingerprints of our employees all over this, and it has really started to be embedded in everything we do and how we work.” And collaboration isn’t always easy to spark. One of Roger’s team members is dedicated to transforming physical space, which she stresses is no mere superficial change. “When you ask what’s standing in the way of collaboration in the workplace, it starts with people. It’s about literally and

One shared vision. It’s how we work. figuratively breaking down the walls that stand between leaders, teams, and ideas,” she says. “Changing the work environment is not about changing the furniture. This is not a real estate play. It’s about bringing people, technology, and real estate together.” As someone who helps to shape career paths and influences future leaders, Roger stresses that a career is a journey and not a race to the finish. “I think the greatest growth comes from having different perspectives. Sometimes we think we know exactly what we want to do in our career, and as a result, we are not open-minded when it comes to opportunities outside of our current thinking,” she says. “No matter how great you are at doing what you do, no matter how much you love it, getting a different perspective will stretch you in ways you can’t even imagine and open doors you never even thought of. I’ve taken risk in many of the roles throughout my career. It can be hard, but it’s totally worth it. It’s offered so many rewarding experiences and pushed me to keep learning and reinventing myself.”

bmo.com

TM /®

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Trade-marks of Bank of Montreal.


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SVP, General Counsel, Corporate Secretary Evine Live Eden Prairie, MN

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Stephen Voegeli

Damon Schramm


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Helping the Sell Business attorneys do more than write and negotiate sound contracts. Damon Schramm is guiding home shopping company Evine Live to revitalize its business with smart counsel and a can-do attitude. By R U S S K L E T T K E

Damon Schramm admits that the first time he watched the home shopping television network—a sector he would eventually go to work for—it was a painful experience. The accomplished attorney with additional business training says the show’s product line of mostly jewelry and watches just wasn’t his forte. Still, he took the position and is now the senior vice president, general counsel, and corporate secretary for Evine Live Inc., an established player in the television-based digital retailing industry segment. He’s enthusiastic about the job, and he likes to visit the studios and headquarters in Eden

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Prairie, Minnesota. “I’m impressed by our merchant and broadcast teams and on-air hosts and how they get products into the hands of consumers,” he says, remarking how it is a strategic, data-driven, and wellmanaged production. It bears noting that the Evine product line has been extended to home goods, electronics, beauty, fitness, and apparel products—much like the broadening of Schramm’s impression of the home shopping industry. This was not the first time, though, that Schramm found his career going in an unexpected direction. And in each shift, he managed to adopt a passion for what his responsibilities entail and the business

he supports. It’s also worthwhile to note: these responsibilities have included televised poker games, teaching business to design students, venture capital in the Czech Republic, and practicing business law in support of entrepreneurial, emerging, and growing companies. He also cites his own father as his inspiration throughout. “He was an educator, a principal, and nationally recognized,” Schramm says. He also acknowledges his father for instilling in him traits that include fairness and morality, drawn from the family’s faith-based traditions. As a result, it might surprise many that none other than Arnie Becker, the sometimes slippery divorce attorney and protagonist in the 1980s TV show L.A. Law, gave Schramm his first thoughts of becoming an attorney. “I had no altruistic reasons for deciding to go into law when I was in high school,” he admits. But when he got into law school, he was particularly taken with the passion for law that one of his professors, a criminal defense lawyer, had. “He really believed in what he was doing,” Schramm says. “He told me that the things that ultimately matter most are honesty and loyalty.” While his legal education ultimately took him on a path to business transactional work, he says those principles—honesty and loyalty—still apply. “When you are looking for potential partners, it’s natural to ask, ‘Are they honest and loyal?’” he says. Schramm also thrives on change, as well as on whatever he finds to be interesting and intellectually challenging. This draws him to entrepreneurial and growing ventures, the kind of enterprise that means discovering

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gpmlaw.com | Minneapolis | St. Cloud | Washington, DC | Fargo

Results driven by collaboration.

We know our clients, which helps us to provide creative legal and business solutions.

and sometimes inventing new ways for accomplishing tasks. He describes one such situation from his previous work for the gaming business Lakes Entertainment, Inc., of Minnetonka, Minnesota. The task was to arrange financing in a high-yield offering for a casino property. “We had to address Securities and Exchange Commission issues, federal Indian Gaming Regulatory Act questions, and local and state tribal regulations,” he says, noting that the property in question was on a Native American reservation. He says that with about a half dozen each of investment bankers and lawyers involved in the deal, they had reached an impasse. “We huddled late at night with our legal team and managed to reach an aha moment. The great thing was the problem was interesting, and we had many bright people working on it. We found a way through it and were able to sell the bonds,” Schramm explains. The casino operator went through a merger in 2015 that required moving corporate functions to Las Vegas. However, Schramm wasn’t interested in leaving the Minneapolis-St. Paul area. So when an opportunity to interview with the Minnesota-based Evine surfaced, he was certainly interested. Both companies had television properties, and Evine was undergoing its own reorganization. The company’s law department also had a reputation for being more of a roadblock than a support—and when hired, Schramm accepted the responsibility for changing that. Within six months of starting with Evine, he was elevated to the general counsel position. It was a time of rebuilding at the company, and Evine aimed at countering a sales slide as it ranked behind two other competing home shopping companies. “Our first tasks in the law department were to recognize quality issues and inefficiencies and repair internal relationships,” he says. But was he worried about joining a flailing

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“When you are looking for potential partners, it’s natural to ask, ‘Are they honest and loyal?’” DAM O N S C H R AM M

organization? “I believed in the new management and executive team.” The company was due for some changes, given the fact that it has been in operation since 1992. With an evolving product line and new senior management, Evine has adopted policies of greater transparency and cross-functional operations. Schramm redesigned the legal department to realign and integrate his staff attorneys to be business partners with operating departments, to use organizational technology to greater effectiveness, and to provide business solutions. “We are part of the corporate development team,” he says. “We look at new opportunities for the company in terms of new products and company acquisitions. We look at things from both a business and legal point of view. I tell my staff to be the partner who helps accelerate the business.”

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This includes the negotiations needed for evolving interpretations of Federal Communications Commission and Federal Trade Commission laws. While decades old, they’re hardly static, requiring lawyers like Schramm to stay current on how they affect business. “People rarely say, ‘I want to go into telecom law,’” says Schramm, who clearly enjoys it as much as everything else. And why not? Schramm knows how to take on a variety of new challenges. It’s the lifeblood of what keeps him interested in being a business lawyer.

Gray Plant Mooty is honored to collaborate with exceptional talent like Damon Schramm. We work together to deliver creative solutions and excellent results. Our relationship is a true alliance built to help EVINE’s continued success and growth.

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How Pet Food Purchases Make Online Shopping Smarter Walmart Canada’s executive in charge of online shopping hones in on a new retail concept By P E T E R FA B R I S

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Imola Marton

When customers purchase items at Walmart Canada’s website, they leave a trail of clues that provide valuable insights for analysts to piece together. The company uses these resulting findings to improve the online shopping experience. For example, analysis of online pet food buyers finds that young urban dwellers were more likely to purchase cat food online, while older rural residents are the top profile for online dog food sales. This information helps the retailer target dog and cat food promotions to those who are most likely to be interested in them. Tom Maryniarczyk is the executive in charge of such work, which lies at the intersection of customer service and strategic research. Maryniarczyk—Walmart Canada’s director for strategy, site experience, and analytics—has a dream job that makes the most of his passion for data science and predictive modeling, and provides him with the opportunity to help develop Walmart Canada’s omnichannel strategy. Simply put, he’s at the center of some of the most interesting developments in the industry. Responsible for customer experience on Walmart Canada’s e-commerce site, Maryniarczyk and his team have to ensure that the site offers the right products to the right people at the right time. In addition, he guides a group of data analysts that sift through voluminous information for insight into customer preferences and spending habits to help decide what products to sell and how to offer and present them to customers. This unit’s work influences strategic decisions for not only e-commerce in Canada, but also, in some cases, for brick-andmortar stores. “We are an omnichannel retailer,” Maryniarczyk says. “We’re figuring out the best ways to integrate our experiences.” The omnichannel concept, in which retailers strive to provide seamless shopping between online and physical options, is new to the industry. As this omnichannel approach is developed, retailers need to consider the numerous ways customers may want to conduct their shopping using digital venues and physical space. Some may conduct purchase decisions by browsing products online, but buy in-store. They may want to come to the store with a detailed purchase list on their phone and pay with an e-wallet. Some might want the retailer to provide the option to place an order from home and pick it up at the store, already bagged and ready to go. Exactly how much of the shopping experience should be digital, and how it should look and feel to customers, is still an open question for the industry, particularly with customers who are unsure about what they want. “No one in the industry has figured out the optimal omnichannel experience yet,” Maryniarczyk says. It’s his job to help Walmart Canada do this, and he spends countless hours contemplating it. There are thousands of items for sale and essentially limitless ways to categorize and present them on screen. One of the challenges is to tailor the site for each customer according to the individual’s needs and wants. To do this, researchers analyze how customers behave online by poring over a huge cache of data—how long shoppers stay on the site, how they search for items, what devices they use, and more.

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For instance, analysts study how many of those who Director for are registered on Strategy, Site the site are actually Experience, active customers. Analytics Loyalty can then be Walmart Canada deduced by how often they shop at the Mississauga, ON Walmart Canada website. They can also study a specific product’s sales information, including pricing, in-stock position, seasonal appeal, and sales. From a big-picture perspective, predictive sales forecasts extrapolated from digital sales data help C-suite executives with strategic planning. The key is to find reliable correlations between certain data points and the indicator to be forecasted. For example: “We’ve found that trends in the number of customers that shopped with us more than once is most predictive of overall sales performance,” he says. That data then gives business leaders a window into overall sales results for the next quarter and helps to guide their decisions on, say, when to expand into a new territory. Walmart Canada faces a challenge that is more daunting than that of its counterpart in the United States. Canada is the second largest national land mass, with a population the size of California’s. So, Canada, which Tom Maryniarczyk

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environics analytics salutes Tom Maryniarczyk of walmart canada for his commitment to using data to engage customers and produce results. We’re proud to support his vision by providing the industry’s best data and analytics services. Tom, you make geeks everywhere proud.

Data. Analytics. Insights. Results.

environicsanalytics.ca 416.969.2733

has a smaller population spread over a significantly larger area, has higher shipping costs than the United States. In fact, this is the chief reason e-commerce in Canada has lagged in comparison to its neighbor to the south. “There’s a big opportunity for Walmart to figure out cost-effective ways to do shipping,” Maryniarczyk says. This is a critical piece of e-commerce and omnichannel for the company, and there are some innovative possibilities, he explains. Consumers might be willing to drive a relatively long distance to pick up a delivery to save shipping costs, for instance. A Walmart store or another community pickup point, such as a convenience store or library, could fill the need in rural areas. Looking ahead, Maryniarczyk is enthusiastic about the possibilities to use data science and analytics to improve the personalization of the shopping experience. Forward-looking retailers, such as Walmart, already use various internal and external data sources to compile detailed profiles of existing and potential new customers. As more customers become comfortable with retailers connecting their on-site browsing history to other digital and offline activity, the opportunity for personalization increases dramatically. “The more information customers allow us to have about them, the better the experience we can offer,” he says. It’s going to be interesting to watch how e-commerce and omnichannel evolve over the next several years. Issues such as consumer privacy and data security will most certainly come into play, as retailers and society at large work out the specifics of the digital shopping experience. Maryniarczyk, his team, and Walmart Canada will all play an important part.

One of North America’s premier marketing and analytical services companies, Environics Analytics helps customers turn data and analytics into insight, strategy, and results. EA offers the full range of analytical services—authoritative data, innovative software, predictive modelling and strategic consulting—to help organizations identify business challenges and develop data-driven solutions. environicsanalytics.ca

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Financing a Life Less Planned As chief financial officer at HotelTonight, Tony Grimminck credits spontaneity, transparency, and unit economics in making the books work so that guests can get the best room possible By J A C O B W I N C H E S T E R

Tony Grimminck CFO

Shauna Heidenreich

HotelTonight San Francisco, CA

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Tony Grimminck and his family recently found themselves among the scorched ochre canyons of a southern Utah desert in need of a change in scenery. “We’d been on a road trip through Yosemite and out to Zion National Park for a week,” Grimminck recalls. “After another hike in 105-degree weather, there was a spontaneous family meeting: three votes to drive back to Las Vegas and one vote to continue the drive down to the North Rim of the Grand Canyon. I like hiking. . . . A few hours later we were poolside at the Mandalay Bay in Las Vegas, all enabled by HotelTonight at the last minute.” According to the chief financial officer of HotelTonight, embracing spontaneity is vital to the company’s core culture as an on-the-go, mobile-only lodging platform. Premier hotels will load unreserved rooms onto the app, which then acts as a booming marketplace for what otherwise would be something Grimminck refers to as perishable inventory. This allows guests to book potential luxe, yet often steeply discounted, rooms at desirable locations from their mobile device at a moment’s notice. “We actually say we like to live a life less planned. Be spontaneous. Check something out. Go away for the weekend. If you’re in the city, spend a night out. Don’t go home. Don’t plan as much,” Grimminck says. That same characteristic is just as essential to driving the Silicon Valley start-up toward both growth and profitability. “At a start-up, things happen extremely quickly. You’re on one initiative and then to the next, and then the next. And you have to have the ability to react to the market extremely quickly,” he says. “In the Bay Area, for so long it’s been about growth almost at any cost. But the market changed last year. We’d be talking to investors and the tenor of the conversation changed from growth to, ‘So, when are you guys going to be profitable?’” In order to reach profitability, Grimminck and the executive team realized they needed to make some dramatic changes. In November 2015, HotelTonight reduced its workforce by 20 percent, which he says allowed the

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start-up to reprioritize and greatly reduce operational costs. Grimminck also advocated paying increased attention to the unit economics of individual bookings. “Something I tried to do when I first came to HotelTonight was to really embed into the culture a focus on each transaction,” he says. “What is the profitability of every transaction? How can we improve that profitability?” This also included asking pointed questions about the amount of coupons offered on the app, what the optimal contractual take rate from each hotel should be, and how the company could drive down transaction and support-related costs. From there, Grimminck and his team could establish a set of concrete actions in order to fill any gaps in the operating model. Given his awareness of intricate infrastructural detail, it should come as no surprise that Grimminck entered the workforce as a civil engineer for the Australian Army. “Out of the military academy, I served as a troop commander in a combat engineer regiment and then moved into more traditional engineering roles equivalent to the US Army Corps of Engineers and, in doing so, became interested in large-scale development projects,” he says. As part of his journey, Grimminck spent time in uniform in Africa, in East Timor with the United Nations Peacekeeping forces, and in Iraq in 2003. With all of that excitement and after meeting his wife, Grimminck explains, he decided to leave the army and move to New York for a change of pace. Having always been interested in how large-scale development projects were financed, Grimminck applied and was accepted to Columbia Business School. “Through that process and being so close to Wall Street, I transitioned from wanting to do infrastructure financing to doing more in the way of traditional investment banking,” he says. “I tried my hand at a travel-based Internet start-up at business school and was highly interested in how digital media was evolving, so I matched two interests through technology and media investment banking.” After his tenure with JP Morgan and Goldman Sachs, Grimminck moved his family

ARMY STRONG Not only does Tony Grimminck possess outstanding leadership qualities, but he also has a keen sense for adventure, as well as outstanding attention to detail. It’s fair to say that some of this may be attributed to his time in the Australian Army. After enrolling in 1997, Grimminck spent the next two years mentoring and training forty-five soldiers in the combat engineering unit. Two years later, Grimminck became a project manager, where he was responsible for the planning and implementing of infrastructure projects for the Australian military. Some of the projects included work with the main forward military operating base for the United Nations Peacekeeping forces in East Timor, as well as supporting housing and infrastructure for Aboriginal communities in North West Australia. In his last year with the Australian Army, Grimminck became a staff officer of joint strategic operations for the Australian Defense Force. He was charged with strategic planning and operations management, as well as planned operations in the Middle East, Southeast Asia, and the South Pacific.


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“Transparency definitely has produced amazing results for us because everyone understands how the company is performing in real time.” TO NY G R I M M I N C K

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from a seemingly shrinking apartment in New York to San Francisco, eventually becoming the director of strategy and corporate development for eBay’s StubHub. “I suppose it harkens back to my engineering days, where it was always about building things. I wanted to be part of a team that built something,” says Grimminck about transitioning to the Silicon Valley start-up culture. Now, as the CFO at HotelTonight, he oversees the accounting, financial planning and analysis, risk and payments, and business analytics. Grimminck credits an internal culture of openness as a key factor in HotelTonight’s budding success. “Typically, as a finance executive, you’re less about sharing financial results and metrics with the company. In certain cases, of course, due to regulatory requirements, you can’t. But at HotelTonight, we share our metrics and how we’ve been performing at weekly meetings,” he explains. “Transparency definitely has produced amazing results for us because everyone understands how the company is performing in real time.” When business is going well, Grimminck says, people are able to celebrate successes in tandem, and when times go awry, everyone is alerted to the situation and can take mutually beneficial action to craft creative solutions to the problems. Sporting this ethos, HotelTonight achieved profitability in April 2016. The start-up currently has offices in Berlin, Paris, London, and San Francisco, as well as rooms available in thirty-five countries. With the profitability, there are no plans to deviate from being a mobile-only platform. “We believe that being mobile increases relevance,” he says. “We’re able to offer the consumer the right price at the right hotel and the right time by having them interact with our marketplace on a mobile device. If you’re opening the app in San Francisco in the afternoon, there’s a high probability that you’re looking for a room in San Francisco for that evening. And so hotels can compete with each other to get consumers into their rooms and offer the consumer a great price in order to do that.”

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Hotel Tonight


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Cindy Buhr EVP, General Counsel PrimeLending Dallas, TX

The Importance of Human Connection Cindy Buhr built a legal department for PrimeLending rooted in strong relationships and transparent communication By K E L L I L A W R E N C E

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Service Beyond Expectations Ranked as one of the top 10 purchase lenders in the nation*, PrimeLending focuses on making home loans simple for customers by providing a streamlined loan process, valuable insight and quick results. Since 1986, we’ve helped more than 500,000 borrowers buy a new house, renovate or refinance. Discover the PrimeLending difference today.

*Top 10 Mortgage Companies - Ranked by Mortgage Executive Magazine for 2015. All loans subject to credit approval. Rates and fees subject to change. Mortgage financing provided by PrimeLending, a PlainsCapital Company. Equal Housing Lender. Š 2016 PrimeLending, a PlainsCapital Company. PrimeLending, a PlainsCapital Company (NMLS: 13649) is a wholly owned subsidiary of a state-chartered bank and is an exempt lender in the following states: AK, CO, DE, FL, GA, ID, IA, KS, KY, LA, MN, MS, MO, MT, NE, NV, NC, OH, OK, PA, SC, SD, TN, TX, UT, VA, WI, WY. Licensed by the: AL State Banking Dept- consumer credit lic no. MC21004; Arkansas Securities Dept- combination mortgage banker-broker-servicer lic no. 105190; AZ Dept. of Financial Institutions- mortgage banker lic no. BK 0907334; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act- lender lic no. 4130996.; CT Dept. of Banking- mortgage lender lic no. ML-13649; D.C. Dept. of Insurance, Securities and Banking- dual authority lic no. MLB13649; Hawaii Division of Financial Institutions- mortgage loan originator company license no. HI-13649; IL Dept. of Financial and Professional Regulation- residential lender lic no. MB.6760635; IN Secretary of State Securities Division- loan broker lic no. 13649; ME Dept. of Professional & Financial Regulation- supervised lender lic no. SLM8285; MD Dept. of Labor, Licensing & Regulation- mortgage lender lic no. 11058; Massachusetts Division of Banking- mortgage lender & mortgage broker license nos. MC 13649, MC13649-101, MC13649-102, MC13649-103, MC13649-105, MC13649-106, MC13649-108, MC 13649-109, MC 13649-113, MC 13649-114, MC 13649-115, MC 13649-116, MC 13649-117, MC 13649-118, MC 13649-119, MC 13649-120; MI Dept. of Labor & Economic Growth- 1st mortgage broker/lender/ servicer registrant lic no. FR 0010163 and 2nd mortgage broker/lender registrant lic no.SR 0012527; Licensed by the New Hampshire Banking Department- mortgage banker lic no. 14553-MB; NJ Dept. of Banking and Insurance- residential mortgage lender lic no. 0803658; NM Regulation and Licensing Dept. Financial Institutions Division- mortgage lender license no. 01890; ND Dept. of Financial Institutions- money broker lic no. MB101786; Lic. Mort. Banker- NYS Dept. of Fin. Svcs. Lic no. B500999 (2000 Winton Road Bldg.1 #102 Rochester, NY 14618); OR Division of Finance and Corporate Securities- mortgage lending lic no ML-5260; RI Division of Banking- lender lic no. 20102678LL and broker lic no. 20102677LB; VT Dept. of Banking, Insurance, Securities and Health Care Administration- lender lic no. 6127 and broker lic no. 0964MB; WA Dept. of Financial Institutions.


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NATIONWIDE RESIDENTIAL DOCUMENT PREPARATION LEGAL & COMPLIANCE SUPPORT 800-798-4488 MORTGAGELAW.COM

Cindy Buhr has one of her most valuable career lessons—shared with her by a fellow attorney—on the tip of her tongue: to be a great counsel and a trusted advisor, you must walk along with your client—not push them from behind or drag them from in front, but give them the information they need to make the right decisions. “The client will buy into all the insight and decisions if they feel like you’re educating them and working with them,” she says. At PrimeLending, where Buhr has been since 2010, she recalls those words coming to her aid early in her tenure when an employee issue surfaced that required her involvement. She and the employee met in her office, where he did most of the talking, and she did most of the listening. But she asked him several key questions that shaped the conversation. “And after talking for about an hour, making the difficult decisions that needed to be made, he was about to leave my office,” she explains. “But then he stopped at the door, turned back to me, and said, ‘You’re good.’ He went on to explain that I’d listened and talked with him in a way that made it seem like he’d come to the decision all on his own.” Such is a good day in the life of an executive vice president and general counsel like Buhr, who takes the essentials—including fundamental judgment, strong communication, and multiple deadline management—and fortifies them with the ability to make change, mentor others, and build relationships. For Buhr, it’s that last one that has guided her legal career. She started in private practice, spending eight years at two different firms as a litigation associate. Although she enjoyed being involved in the “big” cases, and even tried a few of them herself, she eventually did some soul-searching to determine what she enjoyed most about being an attorney. “It was the relationships,” she says definitively. “Ours were every-few-years kind of clients, but I liked them so much, I really enjoyed it when they continued working with our firm. So, I determined that being in-house somewhere might be an ideal situation—a place where I can really get to know a client.”

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It was time for a change, but what the Dallas-based Buhr was not looking to change was her location. As a result, she made a list of businesses that fit the bill, and at the top of it was Southwest Airlines. She had no connections with the company, but secured an interview with its legal department anyway. One interview led to two. “I really hit it off with both the general counsel and assistant general counsel,” she says. And that led to more than a decade as an associate general counsel for Southwest. It was a rewarding experience with valuable role models, which set the stage for her next position: vice president, assistant general counsel with PlainsCapital Bank—a subsidiary of PlainsCapital Corporation, the parent company to PrimeLending. PlainsCapital was about to go from a private to publicly held bank, so the need was strong for an assistant general counsel who could hit the ground running as the general counsel’s right hand, someone who could cover day-to-day activities while the general counsel honed in on SEC and merger/acquisition matters. “It really felt like I was getting in on the ground floor, like in the early days with Southwest. Plus, it gave me a sort of officer role within the company, not to mention the opportunity to learn about the transactional side, which was something I really think I needed in order to keep growing,” she says. She got to know the executive leadership team at PrimeLending when she was tapped by the company to tend some of its litigation. It was without a general counsel of its own at the time. Before long, they were offering the position to Buhr. “Their leadership style was a perfect match to everything I value,” she says. “It was a bit of a leap; I wondered, ‘Can I really be that person for a company this size?’ But with the kind of encouragement they provided, I gladly accepted. And it’s really been the greatest of opportunities.” In the six years since she became senior vice president, general counsel at PrimeLending (moving up to executive vice president in late 2012), Buhr has built out the previously nonexistent legal department to include five attorneys and five paralegals/administrative staff. In doing so, she’s also seized on


TA L E N T

“Clients will buy into all the insight and decisions if they feel like you’re educating them and working with them.” C I N DY B U H R

PROVIDING COUNSEL TO THE FINANCIAL SERVICES INDUSTRY FOR MORE THAN 3 DECADES

an opportunity to do something she’s felt strongly about for several years: develop a mentoring program. Buhr herself works one-on-one with all of her attorneys as a mentor and then has her attorneys do the same with the paralegals and contract managers. Formal conversations about goals and aspirations take place, of course, but Buhr keeps leadership programs such as the Oregon-based Building Champions in mind for her attorneys as well. “It’s about digging down and figuring things out,” she says about mentoring. “What are this attorney’s core values? What do they value most in life? And how will he or she plan their life in order to value those things? This program is all about ways to challenge relationships as well as build them with everyone communicating openly.” Open communication and transparency couldn’t be more critical these days for a financial-based company such as PrimeLending. In fact, Buhr believes it’s perhaps the single most necessary step for continued success. “It’s a little bit of a unique challenge, though, for everyone in our industry to recognize and understand the importance of rebuilding that trust, but I think that’s something PrimeLending takes very seriously,” she says. “We’re trying to provide a seamless experience that customers are comfortable with for a very important time in their lives. Everything we do underscores the importance of that relationship.”

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“Cindy Buhr brings years of expertise in both litigation and the mortgage industry to the table while retaining a notable ability to take a fresh – and, where necessary, creative -- look at complicated issues. Those talents represent a valuable set of qualities for PrimeLending.” -MITCH KIDER, CHAIRMAN AND MANAGING PARTNER, WEINER BRODSKY KIDER PC

202.628.2000 WASHINGTON DC | DALLAS TX | IRVINE CA

thewbkfirm.com


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TA L E N T

There’s More Than One Way to Solve a

Legal Rubik’s Cube sasaperic/Shutterstock.com

As technology evolves, so too does the complicated world of intellectual property law. Anna Brannan wouldn’t want it any other way. By L I S A T R O S H I N S K Y

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TA L E N T

Anna Brannan has found a way to marry her love of law and business by becoming an in-house counsel to the global leader in cybersecurity. Based in Mountain View, California, Symantec Corporation offers various security software products and solutions to large enterprise customers and individual consumers, has operations in more than thirty-five countries, and has about 11,000 employees worldwide. Not only are these statistics more than impressive, but the company also operates one of the world’s largest cyber-intelligence networks, employing more than 500 security professionals who are constantly looking at data around the world for security threats. “As an in-house counsel, I have the ability to sit down and really learn about my clients’ needs and business objectives without time constraints,” the senior corporate counsel says. “If I worked for a law firm, I would have to bill that time to my client.” When Brannan joined Symantec, she was seeking a more focused role in trademarks and copyright law—something that has intrigued her since she began her law career. “I’m really fascinated with intellectual property law because it’s constantly changing, especially with the ever-evolving developments in technology,” Brannan says. “For example, the original copyright act contemplated infringement as the unauthorized copying of material the old fashioned way— photocopies, duplication of tapes, etc. The advent of digital copying changed that, and the issue became mainstream as a result of the Napster case more than a decade ago. As a result, the Digital Millennium Copyright Act was enacted to address copying in the digital age. It’s no longer about photocopying something. People can steal digital material and send it all over the world through the Internet. That changed the initial concept of copyright law.” To put it simply, Brannan’s areas of practice at Symantec are vast. Her duties include trademarks, copyrights, advertising law, domain name disputes, privacy, licensing, and contract negotiations. After studying political science at the University of Connecticut and law at Santa Clara University, Brannan worked for several years before going to law school, trying out a variety of roles in the workplace. She says a

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combination of life experiences, education, and her ultimate career path led her to take on such a multitasking role. “I was a legal secretary for a couple of years and worked in sales and marketing. Through these experiences, I did quite a bit of public speaking,” she recalls. “While in law school, I focused my internships on in-house positions, where I was exposed to the dynamics of working with cross-functional teams within a company.” After law school, Brannan went to work at two small boutique law firms—one in San Francisco and the other in Danville, California. “One of my clients at the Danville firm asked me to work full-time for them to help with legal and regulatory issues as they launched their new business,” she says. “It was a totally different environment for me. I had to figure out what they needed from both a legal and regulatory perspective. It was like working for a start-up.” Brannan moved to Verisign in 2008 as corporate counsel, until the company’s identity and authentication business unit was acquired by Symantec in 2010. The following year, she was promoted to senior corporate counsel to manage the company’s global trademark and copyright programs, as well as to provide legal support to the public relations and marketing teams for the Americas. “I always had goals set for my career,” she says. “In my role at Verisign, I worked with an entire product team. I provided legal advice and counsel to the development team from the time a product was developed through the time the products are marketed and sold. This included direct sales as well as sales through our resellers and strategic alliances.” At Symantec, Brannan has become the subject matter expert for trademark, copyright, and advertising law. “The latter involves making sure our advertisements and marketing campaigns are compliant with laws such as the Federal Trade Commission Act, CANSPAM Act, Telephone Consumer Protection Act, and the many laws that govern consumer protection, contests, and sweepstakes in each state,” she says. In addition to managing Symantec’s global trademark and copyright program, Brannan provides legal support and counseling for all of the businesses’ marketing teams in the Americas. “We have about a dozen marketing teams including campaigns, events, social media,

“I’m really fascinated with intellectual property law because it’s constantly changing, especially with the ever-evolving developments in technology.” A N NA B R A N NA N


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and digital, as well as the several different product Senior Corporate Counsel marketing teams in three business Symantec units—enterprise, Mountain consumer, and webView, CA site security,” she says. “Our product teams have to come up with strategies to deliver products to the end user and the marketing teams create the messaging for the end customer. I also sit in on the regular staff meetings of the chief marketing officer to collaborate as a business partner and provide legal counsel as needed for any initiatives he may have for the company.” When not in strategy meetings, Brannan spends much of her time counseling clients that contact her that day and reviewing public relations materials. “New issues come up every day. For example, there could be a cybersecurity issue that needs an immediate response by our public relations team, which requires me to be on-call in case I need to review a media statement,” she explains. “Other times, I could be alerted to a website containing Symantec logos or domains that contain one of our trademarks. The owners of these sites often claim they are affiliated with our company when they’re not, and I need to react. These types of trademark enforcement issues happen frequently and are not restricted to just the United States. I have to stay on top of the enforcement of our brand on a worldwide basis.” Brannan explains that Symantec hires outside counsel for lower risk issues, such as helping to prosecute new trademarks and maintain the portfolio. But the company also utilizes in-house counsel for higher risk matters, such as legal counseling and strategy. “ We need outside counsel because, although trademark and copyright laws are similar worldwide, we have to enforce them based on the laws and procedures of a particular country,” she says. “If Symantec owns a mark in another country, I necessarily engage foreign counsel to help enforce Symantec’s rights in that mark in that jurisdiction.” When hiring outside counsel, Brannan looks for area expertise, good customer service, and reputation. “It is also very important for counsel to be willing to collaborate with Anna Brannan

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TA L E N T

“It’s no longer about photocopying something. People can steal digital material and send it all over the world through the Internet.” A N NA B R A N NA N

Protecting Brands in the Digital WorldTM MarkMonitor® is the world leader in enterprise brand & IP protection. Providing advanced technology and expertise that protects the revenues and reputations of the world’s leading brands in the digital world and beyond. MarkMonitor Brand Protection and Domain Management solutions enable businesses to combat the growing threats of brand abuse, stolen web traffic, unauthorised channels and counterfeit sales. More than half of the Fortune 100 trust MarkMonitor® to protect their brands online.

PROTECTING BRANDS IN THE DIGITAL WORLD™

www.markmonitor.com

+44 (0) 203 206 2220 © 2016 MarkMonitor Inc. All rights reserved. MarkMonitor® is a registered trademark and Protecting Brands in the Digital World™ is a trademark of MarkMonitor Inc., part of the Intellectual Property & Science business of Thomson Reuters. All other trademarks included herein are the property of their respective owners.

me in order to give the best advice or work product to my internal clients,” she says. In addition, Brannan supervises two paralegals and a summer intern, whose main roles are to help support Symantec’s trademark and copyright program. “They are my front line and handle a lot of the day-to-day questions that come in. They provide the initial responses, and if more detailed questions about the law come in, they bring those to me,” she says. But Brannan also stays busy outside of Symantec. She is an active member of the International Trademark Association, having served a two-year term on the programs committee, and is currently serving a term on their in-house practitioner’s committee. “Before my son was born, I chaired a citizens’ advisory committee for the City of San Leandro, where I used to live, which focused on the city’s downtown transit-oriented development project. I also served a term as a planning commissioner there before I moved,” she says. “Today, a lot of my volunteer work focuses on my son’s school and sports,” she continues. “Outside of work, he is my focus.” Editor’s note: At publication, Brannan has left Symantec. She is currently senior corporate counsel of ipsy.

MarkMonitor®, the world leader in enterprise brand protection and a Thomson Reuters Intellectual Property & Science business, provides advanced technology and expertise that protects the revenues and reputations of the world’s leading brands. In the digital world, brands face new risks due to the Web’s anonymity, global reach, and shifting consumption patterns for digital content, goods, and services. Customers choose MarkMonitor for its unique combination of industry-leading expertise, advanced technology, and extensive industry relationships to preserve their marketing investments, revenues, and customer trust. To learn more, visit markmonitor.com or call us at +44 (0) 203 206 2220.

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S T R AT E G Y

At the Heart of HR Joseph Fournier is on a mission to make the University of Michigan Health System’s HR department service-oriented, streamlined, and responsive

T

The first thing Joseph Fournier noticed when he arrived in Ann Arbor was the tremendous aura of pride for the University of Michigan shared among the city’s residents. “My wife and I were sitting in a restaurant, and almost everyone there had the block M somewhere on their body. It was either a tattoo on their ankle or on their jacket, hat, or backpack. It was amazing,” Fournier recalls. Today, as the University of Michigan Health System’s chief human resources officer, he finds himself cultivating that immense sense of togetherness at a unique organization, which functions as both a healthcare business and an academic institution. As a healthcare organization, Fournier says the University of Michigan Health System is essentially a service organization focused around people. “Our mission is very special. In other industries, you might make cars or manufacture products. Here, we treat people who are sick and don’t want to be in the hospital, and we provide care to our community,” he explains. “We also educate the caregivers of tomorrow and do a lot of research to discover cures for disease, as well as treatments for people who are ill. That adds another layer of complexity to what we do. It’s a different sort of business model; we’re in a people business.”

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Fournier channels this person-centric perspective into his philosophy as head of human resources and, along with the executive leadership and his team, has helped implement a comprehensive HR transformation at the 200-year-old institution. “Our overarching strategy is fairly simple. It’s something you may hear from a lot of HR people, but I think the way we do it here in the context of academic healthcare is very important. We want to attract, inspire, and develop really outstanding people in medicine, science, and healthcare so that we can be one of the best in the world,” Fournier says. In order to accomplish this, Fournier and his team focus on streamlining and building a culture of personal engagement in the workplace. He places emphasis on creating an inclusive and safe environment for employees so that they can experience engagement, wellness, and intellectual freedom through a shared vision. “I think that when people work together, we come to the best solutions,” he says. “When you give people the chance to put their talent out there, they do remarkable and amazing things. We just have to give them the opportunity and harness that.”

Karen Moeller

By J A C O B W I N C H E S T E R


S T R AT E G Y

Joseph Fournier CHRO University of Michigan Health System Ann Arbor, MI

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S T R AT E G Y

Fidelity Investments congratulates Joseph Fournier on his accomplishments and well deserved professional recognition.

For more information about Fidelity Investments, visit Fidelity.com/about.

Fidelity and the Fidelity Investments and pyramid design logo are registered service marks of FMR LLC. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 © 2016 FMR LLC. All rights reserved. 732965.2.0

JOSEPH FOURNIER

T:10.3125”

We are proud to collaborate with you and University of Michigan Health System.

“We want to attract, inspire, and develop really outstanding people in medicine, science, and healthcare so that we can be one of the best in the world.”

After graduating from high school, Fournier became the first person in his family to attend college. Initially earning a degree in finance, he decided law was a better fit and went on to earn his JD. But he had always harbored aspirations of joining the military, so he found a way to do both by becoming a member of the US Air Force Judge Advocate General’s Corps, where he served for more than seven years. While there, Fournier worked on developing his service-oriented approach to leadership. “In the military, it was about watching others further the best interests of our nation and the world, and that was very humbling to me,” he says. “Seeing that taught me to value humility and the needs of others over myself. To me, being a leader is instilling that value in my organization.” While many employees may associate HR at large institutions with inefficient and inconvenient paperwork or prescriptive behavioral policies, Fournier sees the department as poised to advocate for the needs of his team and solicit input to make the workplace a sought-after destination for employees. He regularly makes rounds through all units of the company to talk to people in their different roles. “When we’re making decisions in the conference room, sometimes it’s really easy to look at data and to assume that our people will go along with a business decision. For me, I feel that I’m there in my role to really represent the interests of our people by asking

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how those decisions will impact our employees,” Fournier says. “We’re not here to tell people how it’s going to be, although we need to be excellent in the traditional transactional work that HR always does. We’re really here to shepherd the work around people and partnership with our employees and our leaders at all levels within the organization.” For Fournier, human resources is a venue that enables the University of Michigan Health System to challenge itself and maintain its position on the cutting edge of healthcare by attracting and developing the best talent. The overarching reason for this is to promote beneficial medical research and discoveries that can affect patients’ lives, and possibly the world as a whole. This initiative becomes particularly important as the healthcare industry is changing, according to Fournier. “If you’re going to be the leader and the best at something, it means that you can’t be complacent and you have to transform as the world around you does,” he says. “Our industry is moving from a model where you treat people when they come to the hospital and are sick to keeping our communities and our population healthy so that they don’t have to come to the hospital. And that’s really transformational for both the healthcare industry and for us.” That transformation has shown through national recognition. In 2015, the University of Michigan Health System was named number one in the State of Michigan and number eleven in the country on the U.S. News & World Report list of “Best Hospitals.” In 2014, 493 UMHS doctors were named best in their fields by Best Doctors, Inc.’s list of “Best Doctors in America.” Fournier is proud of those distinctions, but he explains that it’s important to keep a mind-set of continuous advancement and to move at the same speed at which the industry moves. “It would be easy for me to say, ‘We’re the best at HR,’ but I think the goal for us is really to be the best at getting better. That means that we’re always trying to get better and we’re always making improvements.”

Fidelity’s goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.6 trillion, including managed assets of $2.1 trillion as of July 2016, we focus on meeting the unique needs of a diverse set of customers. For more information about Fidelity Investments, visit www.fidelity.com/about. Sibson Consulting congratulates Joe Fournier on receiving the well-deserved recognition of being featured in Profile Magazine. Sibson has a long track record of serving The University of Michigan, and recognizes Joe’s extremely valuable leadership. Established more than fifty years ago, Sibson Consulting is a premier human resources consulting firm with offices across the United States and in Canada.


S T R AT E G Y

Against All Odds Marvin Levine shares how General Growth Properties not only survived a predicted demise, but is now surging in the REIT sector thanks to strong leadership and collaboration

Elena Bragg

By Z A C H B A L I VA

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Call it a turnaround. Today, General Growth Properties (GGP) is the country’s number two mall operator behind only Simon Property Group. But just six years ago, some industry insiders expected to watch the self-managed, self-administered real estate investment trust’s (REIT) demise. Instead, a new leadership team has helped the company bounce back from bankruptcy and put itself back into position for renewed success. It’s been anything but a smooth road, though. Marvin Levine, GGP’s executive vice president and chief legal officer, has spent more than three decades in real estate law. Levine joined GGP in 2011 at the behest of longtime friend and new CEO Sandeep Mathrani. Levine credits Mathrani for leading the REIT’s transformation. “He set the tone, and a talented group of executive leaders have worked together to make a big impact,” he says. “It’s been amazing to watch this team work, and I’m thankful to have been a part of it.” Mathrani, Levine, and an entirely new management team took control of the company on January 17, 2011. Levine remembers the exact date, which he refers to as “the day [his] life blossomed.” Levine has seen just about every kind of deal imaginable during his thirty years as a partner in a New York City firm. He never considered going in-house, but was ready for a change. After accepting Mathrani’s challenge to run the legal department and help reform GGP, Levine has never looked back. By 2008, when the global economic crisis hit, GGP had untenable leverage and billions of dollars of maturing debt. With the market in decline, GGP found itself unable to refinance its debts. With no remaining options, the company filed for Chapter 11 in April 2009. The following year, GGP’s new management team hit the ground running—but found opposition. With morale at an all-time low, fatigued employees had grown fearful or suspicious. Still, they pressed on, determined to make a difference. “Everywhere we turned we had something to do,” Levine explains. “But we all trusted our CEO, and we all like each other. When you have that combination with good leaders in an organization, you have a chance at success.” Almost immediately, Levine and his partners moved to refinance mortgages while rates were at all-time lows. When they stepped in, GGP owned roughly 165 malls, as well as numerous shopping centers and suburban office buildings. Together, they decided to concentrate on becoming a premium mall company, which led them to refocus and shed secondary, lower quality properties.

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Marvin Levine EVP, Chief Legal Officer General Growth Properties Chicago, IL

Today, GGP is back in the S&P 500 with about 120 high-caliber retail properties in premium markets nationwide. As the remade company moves forward, Levine remains committed to taking a team-centric approach. Contrary to most in-house departments (and to how most legal teams work) his team is involved in the foundational business of the company. GGP owns and manages approximately 120 million square feet of retail space. Levine’s legal team handles each lease, and he signs every one personally. A seventy-five-person legal department works together to manage the high volume of specialized work, and Levine has six direct attorney reports. While his deep experience helps, Levine relies on one key to get the job done. “My six direct reports are really good at what they do,” he says. “That’s my silver bullet.” Levine enables each attorney with the freedom to run and manage his or her own

Jason W. Kaumeyer

S T R AT E G Y


CONGRATULATES

MARVIN LEVINE On his distinguished accomplishments at General Growth Properties. It has been an honor and a pleasure working with you through the years. We look forward to many more years of partnership.

UNCOMMON GUIDANCE. CREATIVE RESULTS.

For more than 35 years, Wachtel Missry has represented many prominent real estate investors and developers in New York City and throughout the nation. Our attorneys provide legal expertise with a keen understanding and passion for meeting our clients’ business objectives.

Wachtel Missry LLP One Dag Hammarskjold Plaza 885 Second Avenue, 47th Floor New York, NY 10017 (212) 909-9500 www.wmllp.com


S T R AT E G Y

“My six direct reports are really good at what they do. That’s my silver bullet.” M A R V I N L EV I N E

WE BELIEVE

…in building communities. The kind where you get to know your neighbors, and the owners of the corner market know your name. It’s all because consumers have a choice — to buy or to rent, to sell or move. Our commitment is to make this happen in the safest way possible, because a vibrant and sustainable housing market ensures affordable housing options for everyone. We believe our strength lies in the communities we serve.

TO LEARN MORE ABOUT THE REAL ESTATE FINANCE INDUSTRY, VISIT MBA.ORG/WEBELIEVE

group and trusts the appointed leaders to perform autonomously at a high level. Sound leadership, Levine has found, requires frequent, clear communication. “You might not agree with everything I say, but you’ll never walk out of my office wondering what I meant by what I said,” he explains. Instead of micromanaging, Levine accepts and considers other perspectives. This approach has paid dividends time and again throughout Levine’s career. Early in his GGP tenure, he wanted to change certain provisions in the company’s standard lease. He proposed changes, but made sure to solicit ideas from the whole team. After twenty minutes of discussion, he decided to leave the original document intact. “If you have good people around you, you need to seek, appreciate, and trust their expertise. That’s why we’re a successful team,” he says. Although running an in-house legal department is quite different from working in a large firm, one constant remains: experience. “The more you do, the better you are,” he says. After thirty years, he’s encountered almost every surprise the industry has to offer. In the latter stage of his career, he’s looking to impart lessons learned to those who will drive legal at GGP after his departure. To do so, he tries to get to know all of the employees and understand their personal goals and professional motivations. One special program has particularly helped Levine develop a good working relationship with each member of his team. Every Wednesday, he has an hour-long lunch with several people from his department that are not direct reports. As they eat together, they have an open dialogue. There’s just one rule: nobody can talk about work. Instead, they discuss whose kids are going to college, who just got a dog, or who’s putting an extension on their home, among other topics. “It’s easier to work with people you actually know and like because nobody is afraid to talk and get things done when tough issues arise,” he says. The lunches have helped develop a sense of camaraderie. That bond, joined with a clear vision to move a remade company forward, has GGP back on track.

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Stretching a Portfolio All Around the Globe Not only is John May TPUSA’s first domestic in-house counsel, but his responsibilities span the breadth of the company’s business—quite literally— around the world By J E F F S I LV E R

While Teleperformance USA (TPUSA) has operated in the United States since 1993, it may be surprising to some that the company had no domestic in-house legal counsel until 2007. That is, until John May was hired as chief legal officer. In addition to defining his new role and responsibilities, May developed strategies for managing the sprawling English World and Asia Pacific (EWAP) Group, which stretches from the United States, Canada, Jamaica, and Guyana to the UK and on to South Africa, India, China, Singapore, Indonesia, the Philippines, and Australia. TPUSA is the global leader in providing outsourced omnichannel customer relationship management (CRM) solutions, offering its clients a wide variety of services in seventy-five different languages in sixty-five countries around the world. May was hired for contract review and negotiating client and vendor deals, but his portfolio then grew quickly to include HR, IT, intellectual property, security, and finance-related matters, in addition to managing issues referred to outside counsel. In certain instances, May inherited existing matters that John May presented conflicting prioriChief Legal ties. In HR matters concerning Officer staff immigration, for example, TPUSA, Inc. permission to enter a country typically requires advance Salt Lake City, UT application, but business needs

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We Salute You Our national and international clients are changing the world — we’re honored to be a part of their team. LARGEST FULL SERVICE LAW FIRM IN UTAH AREAS OF PRACTICE

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Akerman is proud to congratulate John Warren May for being recognized as an industry leader and innovator. We applaud John on his achievements and are honored to partner with Teleperformance.

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“The best way to manage such a large team is to micromanage as little as possible.”

Chair, Labor & Employment Practice Group West Palm Beach, FL 561.671.3651 eric.gordon@akerman.com

are often more immediate. So, May worked with external counsel to develop alternative approaches, such as temporary visas or employees working remotely. May used such experiences as the foundation to build productive relationships with various departments. “When you come into issues that are already active, the best approach is to come up with creative solutions and then establish expectations for the future so the same things don’t come up again,” he says. May had worked with TPUSA as outside counsel for nine years, so he already had established relationships with many key internal players when he arrived. To expand the legal department’s network and make it a strategic business partner, May’s team conducts meetings and training sessions for other departments. Important business-unit-specific topics are briefly presented to facilitate open communication, to

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representing integrate the legal team as business partners, and to keep everyone abreast of cutting-edge issues and trends. These opportunities go beyond educating business units and extend to helping the legal department learn about outside factors—like governmental regulations—that can impact how TPUSA provides services to its clients in many different verticals. “Training also ensures internal departments are comfortable bringing questions to us, often before minor issues become legal claims,” May says. “Obviously, providing proactive advice on how to handle a situation is much more desirable than finding out about a problem after the fact.” May works to maintain similar open lines of communication throughout the EWAP legal team. He enables individuals to rely on their own experience and expertise to handle issues as they arise, but makes himself available for matters that are unique or lack established protocols for responding. He also routinely holds regional and specialized subject matter meetings to discuss trends and emerging issues—for example, types of claims being addressed across EWAP’s more than twenty US sites. “The best way to manage such a large team is to micromanage as little as possible and to make sure information is shared across multiple organizations without ever being siloed within any one team,” he explains. One of May’s initial mandates was to manage outside counsel. In addition to increasing oversight of outside staffing on referred matters, May has also reduced the number of outside firms employed by TPUSA. Rather than separate local counsel for each state in which TPUSA operates call centers, he has created a smaller network of regional representation for certain types of cases. This still provides the necessary expertise in local rules, laws, and procedures, but eliminates the need to repeatedly introduce and educate new counsel on TPUSA’s business, culture, and priorities. Between 2015 and 2016, this approach helped reduce external legal costs by up to 25 percent. The range of TPUSA’s omnichannel products—which covers inbound and outbound

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employers

ABOUT JOHN MAY

to sort out

In private practice, John May handled a wide range of criminal defense, domestic, administrative, civil rights, and commercial clients—including TPUSA, where he is now chief legal officer. Although he holds undergraduate and law degrees from the University of Utah, the Flint, Michigan, native remains a staunch fan of University of Michigan football.

complex relationships in

customer service solutions, work-at-home platforms, brick-and-mortar call centers, VoIP services, and offshore and near-shore solutions, among others—presents May with another tremendous spectrum of challenges. However, growing, ever-evolving security issues are among his greatest concerns. Together with the company’s security, IT, operations, and compliance organizations, the legal team has jointly developed security assessments and other tools that are used to develop customized solutions and to identify and analyze potential vulnerabilities, security requirements, and protocols. The company also has a global security and compliance council that meets regularly to review international security trends and internal security matters. “The growing number, types, and sophistication of breaches experienced by various companies can make security a challenging proposition,” May says. “In addition to our own internal efforts, we can learn from what our clients are doing, many of whom, like TPUSA, are leaders in their fields. Sharing information with them becomes a critical part of effective security and creating mutually beneficial relationships.” As he addresses the challenges of managing EWAP’s worldwide issues and operations, May adds that they need to continue to position the legal department as a value-adding business partner: “To do that, we have to develop productive relationships so we can spot issues and develop strategies before potential issues become real problems.”

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workplace law Employment Law Labor Law Workers’ Compensation Business Law Sports Law

cleveland 216.696.4441 columbus 614.224.4411 zrlaw.com


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Ushering in a New Era of IT Alliant Technologies goes beyond the cloud with an infrastructure utility model that is changing the way businesses pay for and use IT By L I S A T R O S H I N S K Y

While the business world becomes more dependent on IT for every aspect of its existence, Bruce Flitcroft, founder and CEO of Alliant Technologies, has found a way to make the necessary IT infrastructure easier and cheaper for companies to consume. He’s doing this by transforming the IT infrastructure industry with a utilities business model. “Today with IT, the consumer takes on all the risk. They take on the financial risk with its purchase, deployment, operations, and return on investment,” Flitcroft explains. “For example, if the IT equipment doesn’t work properly, the consumer is told to upgrade at his or her own expense. The consumer is told to keep spending until it works. Consumers are so anxious to get to the endgame because they’re so dependent on the technology, they forget they’ve been handed all the risk.” Flitcroft says Alliant has greatly mitigated these risks for its customers. “With our model, if the IT doesn’t work, you’re not

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paying for it; you Bruce Flitcroft only pay for what actually works,” he Founder, CEO says. “Our model Alliant turns IT infrastrucTechnologies ture into a utility Morristown, NJ that removes risk from the corporate consumer and pushes it back to the IT company.” IT can work as a utility, similar to how cell phone and energy industries work, according to Flitcroft. “If you don’t like the service because your phone doesn’t work to your standards, you switch companies,” he explains. “When the Industrial Revolution started, consumers had their own generators that their own personnel maintained. Then Con Edison turned that energy into a utility model, where it was mass produced and made it easier to consume. Then consumers only had to pay for what they consumed.” Fast-forward to the IT industry and make the same comparison, Flitcroft says. “For the last thirty to forty years, businesses have

Whether with Alliant Technologies or beekeeping in his spare time, Bruce Flitcroft specializes in solving problems and looking for better ways to answer questions.


S T R AT E G Y

built, owned, and maintained their own IT systems with their own large staff. This includes local area networks, phone systems, data systems, and software,” he explains. “But because the IT—such as virtualization and broadband technology—has matured, there’s an opportunity to turn it into a utility. Yet, businesses are still active in building and maintaining their own infrastructures.” The beginning of IT as a utility model has emerged with cloud service, a type of Internet-based computing that provides shared computing processing resources and data on demand. Cloud allows companies to avoid upfront infrastructure costs and allows the focus to be catered to the core businesses. “Cloud is a data center that consumers use, but they don’t own, operate, and deploy their own software. Instead, they share the service and the service charges per usage,” Flitcroft says. “However, the cloud is only limited to storage and computing. We have extended that model across all business essential IT infrastructure platforms, including wide area network, local area network, unified communications, data center, and network security.” Flitcroft says his team is looking to include IT services in that utility model that one can’t put in a data center, which includes switches, routers, cables, video screens, and end-point devices. “At this time, companies still have to expend much energy, time, and money to build and maintain the overhead for these services and platforms,” he explains. “Our company is turning all of those services into utilities. We custom-build the platforms for consumers and maintain them so if they don’t work, we are responsible for fixing it. If they don’t use the services, they don’t pay for them.” Alliant also breaks down IT into quantifiable units. For example, the fuel industry breaks down gas into BTUs—measurable units. Flitcroft explains that, like gas, Alliant turns IT infrastructure into measurable components called configuration items, and it charges monthly for them so customers can turn the service up and down as needed. “Alliant’s customers save their IT budget for bigger and better things,” Flitcroft says. “The innovative things that help them grow their business and differentiate them in their own industry.” Customers normally spend 15–30 percent of their IT budget on infrastructure expenses, according to Flitcroft. “Most of their IT staff is tied up in building and maintaining a monolithic infrastructure. Without their staff having to do that, now they can move into other areas like application deployment projects, data analytics, and IT process engineering,” he adds. “The real value of IT isn’t in maintaining its infrastructure; the value is

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“Our IT infrastructure utility consumption model is getting companies back to innovating again.” B R U C E F L I TC R O F T

in its business applications and getting data out of them.” This process is responsible for saving companies money on IT, which Flitcroft says has historically been a complicated and labor-intensive industry. “But we’ve automated much of it and changed the supply chain structure,” he says. Flitcroft adds that companies that switch its IT to this utility model don’t have to downsize the IT staff, but rather position them for more strategic purposes. “It’s a lot harder to get people off the street with IT skills,” he says. “It’s easier to take your employees who already know your IT structure and expose them to new technology.” Flitcroft, who studied biochemistry and was on the premed track at New York University before switching careers to IT after a summer internship, knows the meaning of taking risks. “Honorable, fearless, and innovative— those are the profile characteristics we use for people who want to work with Alliant,” he says. “We’re fearless because we’re a little company of 150 employees that is taking on an entire industry. We’re already operating twenty-seven major global networks, and we’re growing better and faster than our competition. We have a certain amount of arrogance for a little company to disrupt and change the consumption model in the IT market.” Flitcroft admits, however, that some people have questioned if a smaller company such as Alliant can handle global infrastructure. “They think we have to be as large as IBM or Google. My answer to that is we don’t have to be a big bureaucratic company to deliver fast global infrastructure. We prove that by managing the global IT infrastructures for some of the most well-known brands in the world, including Fortune 500 companies,” he explains. “Our IT infrastructure utility consumption model is getting companies back to innovating again.”

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Meet the

Mad Hatter of Headphones Patrick Grosso juggles a variety of roles at Skullcandy in order to keep the company as sharp as the sound from its speakers

Speaking with Skullcandy’s Patrick Grosso, it’s easy to imagine a man sporting a multitude of well-maintained hats juggling just about anything that might be set in front of him. As vice president of strategic initiative and corporate affairs, chief legal officer, head of global human resources, and corporate secretary for Skullcandy, Grosso’s exhaustive job title is matched by an attitude that is, if not outright infectious, easily understood as one perfectly suited for his leadership position. “You never know what each day brings. Some people like to be specialized in what they do. I like variety. Being able to take what you learned in one situation and apply it to another is very rewarding,” Grosso says. It’s this variety that seems to keep Grosso sharp and interested in his work. “Having flexibility to me means operating in multiple roles that can positively impact the direction of the company in its operations.” This may include—but is not

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limited to—maintaining close ties with the legal division, human resources, retail, and real estate, as well as Skullcandy’s shareholders and the board of directors. Grosso, who began his career as an attorney for the US Securities and Exchange Commission during the Wild West conditions of the early-2000s dot-com boom, seems to always return to the idea of growth when recounting both his past experiences and current colleagues. “The team I work with will be our future leaders, whether at Skullcandy or elsewhere,” Grosso says. “Therefore, it is important to me that they feel they are leaders now, that they own the decisions they make, and that they understand the impacts of their decisions to the company and our workforce.” It’s an attitude that Grosso has cultivated as a guide in a field that doesn’t always lend itself to mentorship. This search for growth underlines both Grosso’s work philosophy and his goals for the headphone and consumer electronics company. “I have a couple of goals for the brand, which do not change. Short term: I want our global team to be excited about where they work and motivated to be here,” he says.

Irina Nartova/Shutterstock.com

By B I L LY Y O S T


S T R AT E G Y

800.900.2001 801.532.1922 230 South 500 East, Suite 300 Salt Lake City, Utah 84102

Those expecPatrick Grosso tations are under literal construction VP of Strategic Initiative and as hopes for a cenCorporate tralized Skullcandy Affairs, Chief headquarters in Legal Officer, Park City, Utah, Head of Global are nearly realized. HR, Corporate The project, overSecretary seen by Grosso, is Skullcandy particularly close Park City, UT to his heart, and his excitement is evident. “When I think about our Park City team’s daily experience and our global teams and ambassadors visiting, our HQ should be a reflection of our culture and what we stand for,” he emphasizes. Building for the company’s headquarters was scheduled to be completed in April. When asked about his success, Grosso places communication—especially in a role that requires an abundance of multitasking—as absolutely paramount. “I cannot emphasize enough the importance of communication. To me, it means listening first and speaking second,” he says. Grosso does what he can to avoid communicating via e-mail, memo, or other mediums that lack the ability to convey context and inflection that are necessary to effective communication. This means working hard to make himself available for personal interaction

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whenever possible. His quest for communicative efficiency is one Grosso finds as part of a larger ideal at Skullcandy. He references CEO Hoby Darling’s maxim as one he always keeps close: “Align early and often.” “That means making sure you and your team members are in agreement on the path forward, and you can never do that too early or too much,” Grosso explains. As of late, he has spent a significant portion of his time dedicated to the recent acquisition of Skullcandy by private equity firm Mill Road Capital Management. As a publicly traded company, transitioning to private ownership was no small step for Grosso and the Skullcandy team. “It’s sort of like tennis,” he laughs. “All of these balls keep flying at you, and you’re trying to hit them all back but are never quite sure where they’re going to come from.” This has also meant helping his workforce navigate the sometime turbulent waters of acquisition. While much of the management team was familiar with the process, much of the younger workforce was not. Grosso saw this as a great learning experience for all involved. Even when relaxing, Grosso’s emphasis is on others. When speaking of his wife and two young daughters, Grosso seems to find comfort in their own journeys. “Seeing them happy and enjoying life is my relaxation,” he says. “If I want to break away from time to time just for myself, snowboarding, water skiing, running, and reading are my escapes.” But escaping doesn’t seem like a verb Grosso spends much time embodying. After all, there are just too many hats to wear and too many challenges to juggle.

TraskBritt, P.C., a nationally recognized intellectual property law firm, is proud to partner with Skullcandy in building an extensive suite of utility and design patents for their industry-leading audio and gaming products, and navigating complex intellectual property issues as Skullcandy continues to design and engineer new headphones and headphone technology. Diversified Insurance offers expertise and analysis to guide innovative companies like Skullcandy in making proper risk management decisions. From the start, Diversified has targeted businesses with complex risk profiles. Diversified makes the complex simple and understandable to help our clients make the best risk management decisions at the lowest possible rates.

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Protecting Your IP.

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We provide the highest-quality professional and legal services in a timely manner and at a reasonable cost through the use of innovative technologies, practices and procedures and ongoing education and training of the attorneys and professional staff.


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Getting Crafty

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As competition increases and consumer behavior changes, craft breweries with strong strategic vision will rise to the top. At Sierra Nevada, Paul Janicki is applying a unique mix of experience and expertise to support the growing national brand. By Z A C H B A L I VA

P

Paul Janicki developed a passion for a good lager while trying his hand at home-brewing. So, after amassing expertise in finance, business, and operations at Fortune 50 corporations, mid-cap private companies, and start-ups, Janicki jumped at the chance to apply his skills to one of his favorite industries. Today, he’s the chief financial officer (CFO) of Sierra Nevada Brewing Co., where he’s helping the leading national brewery execute an aggressive growth plan. It’s a serious task within a fun job—one that his son proudly talks about with his friends. Janicki grew up near Buffalo, New York, graduated at the top of his class at a Jesuit high school, earned two engineering degrees from Northwestern University in four years, and completed an MBA in finance. He met his wife in Dow Chemical Company’s future leaders program, and was recruited as an executive on loan to Destec Energy to create a world-class financial organization for the $1 billion post-IPO company. After progressive positions with Dow, he was recruited by Roquette America Inc. in 2005 to be its CFO. Over eight years, he helped the $600-million, 625-employee company achieve an average 13 percent annual growth rate and reduced its overall debt by $150 million. He also formed a sales-and-distribution business in Mexico, established an enterprise risk management program and internal audit function, negotiated $14 million in government-backed tax credit financing, and led union contract negotiations. In short, Janicki was at the top of his game. But after the first three decades of his career, Janicki was looking for something

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different. “New graduates have to learn to apply knowledge and develop experience,” he says. “But later, you can leverage that experience and be a bit more selective about your career.” Janicki turned his job hunt on its head. Instead of looking for the right paycheck, he was looking for the right workplace. Wineries and breweries were at the top of Janicki’s list, but as national brands bought small and medium breweries, CFO opportunities in the US alcoholic-beverage industry became rare. After months of searching, Janicki was ready to expand his search to other industries, when he heard that Sierra Nevada had an opening. He ended up landing an interview. “Once they knew I had the knowledge and skills, it became about fit and chemistry,” Janicki says, adding that he was attracted to Sierra Nevada’s private, family-owned structure. Fellow home-brewers Ken Grossman and Paul Camusi started the company in 1979. Today, Sierra Nevada is one of the most popular US craft beer companies. In 2015, the company earned about $300 million by producing and selling the equivalent of more than 400 million twelve-ounce beers. Its extensive line includes Pale Ale, Torpedo, Hop Hunter IPA, Nooner Pilsner, Otra Vez, Kellerweis, Porter, Stout, and several seasonal, specialty, and limited-release beers. Grossman bought out Camusi in 1998, and the company remains family-owned. Janicki says the structure affords him the opportunity to influence decisions, as Grossman and other leaders can afford to take a long-term strategic view. This is seen most clearly in Sierra Nevada’s decision to supplement its

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Insuring Your Most Important Assests and Rewarding Success©

Paul Janicki CFO Sierra Nevada Brewing Co. Chico, CA

kyleins.com

production facility in Chico, California, with a second shop in Mills River, North Carolina. Before Janicki’s arrival, company leaders realized they were selling more beer than they could produce with just one plant. They needed additional capacity, and since beer is expensive to ship, they wanted to position a second facility on the East Coast. Janicki stepped in as CFO with Mills River under construction. Right away, he knew a big part of his success would lie in helping the new multisite production company understand and optimize operations on an enterprise level to reap the full rewards of the highgrowth and dynamic craft beer market. It was an exciting time for Sierra Nevada. The craft beer market was changing, and the company was keeping pace. But to succeed, its CFO would have to help the company deal with the new complexities of running two sites. “Today’s CFO must provide the analysis, insights, and recommendations to both optimize and grow the business—managing complex problems both at the strategic and tactical level to drive value, manage risks proactively, and help the company achieve its objectives,” Janicki says. If Janicki and Sierra Nevada can execute on the plan, the growing company will reach new heights. Today, there are more than 4,400 breweries in the United States, with more added every day. With more choice than ever before, beer enthusiasts value variety over brand loyalty. That could bode well for Sierra Nevada, based on the company’s reputation for high-quality craft beer. “We want people

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BACKGROUNDER Paul Janicki is the CFO of Sierra Nevada Brewing Co. When he’s not leading financial strategy for the leading beer-maker, he is often traveling with his wife and son. Some of his favorite destinations include Nepal, the Great Barrier Reef, Patagonia, the Great Wall of China, and Africa. Janicki also earned his pilot’s license flying single engine planes.


Great leaders inspire us

Leaders engage us, allow us to take chances, unite our voices, and transform our ideas into action. Wells Fargo North State Middle Market Banking in Chico, California, congratulates Paul Janicki, chief financial officer at Sierra Nevada Brewing Co., for his passion and commitment to excellence. We are honored to work with Paul and Sierra Nevada Brewing Co., a family owned business. Wells Fargo is the largest provider of banking services to family owned businesses in the United States. We look forward to our continued partnership for years to come.

Š 2016 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. WCS-3083807


NOW AVAILABLE

®

ORANGE PALE ALE

SIERRA NEVADA BREWING CO. CHICO, CA & MILLS RIVER, NC W W W. S I E R R A N E V A D A . C O M

Please drink responsibly. © Sierra Nevada Brewing Co.


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“We value innovation, but there are many steps between innovation and having a commercially viable product, and my team is there to help connect the dots between those steps.” PAU L JA N I C K I

to try our beers and understand we make a wide variety,” he explains. Sierra Nevada may be best known for Pale Ale, but the brewery offers several other varieties and many limited releases. The new environment puts every brewery under pressure to innovate. As CFO, Janicki works to provide accurate and timely information so that the company can make sound business decisions and manage risk within the framework of the organization. To support and sustain a multi-site production model, Janicki implemented a hybrid procurement model in order to balance the efficiencies of leveraged volumes and negotiations with disbursed strong technical knowledge. Janicki’s team helped support the launch of Sierra Nevada’s new Otra Vez brand by analyzing and reporting on all associated production and marketing costs. “We value innovation, but there are many steps between innovation and having a commercially viable product, and my team is there to help connect the dots between those steps,” he explains. Otra Vez is a unique beer that requires an unusual production environment, specialized equipment, and a distinctive process. Janicki and his colleagues compared costs and determined that, in order to maximize profits, they should produce the beer in both Sierra Nevada production facilities. In addition to the primary brewing business, Sierra Nevada Brewing Co. also runs various retail operations. The facility at Mills River—which some have described as the “Disneyland of Beer”—includes a tap room,

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gift store, amphitheater, and outdoor patio. In addition to production, Janicki’s financial team must support those running restaurants, tasting rooms, gift stores, brewery tours, concerts, and other events. While the business and financial operation of these endeavors differ greatly from the brewing business, the overall objective remains the same: to provide the consumer with a high-quality experience. Janicki’s engineering background brings a strength in critical thinking with a deep understanding of operations. He’s able to pinpoint issues, trace them back to their origins, and help fix problems before they escalate. With Mills River functional and new brands out to market, Janicki is working to optimize operations, define target markets for expansion, and coordinate across the enterprise to enable critical business thinking and flexibility. He’s also identifying and developing strong internal talent. “A CFO is just one person,” Janicki says. “He or she must leverage their skilled staff to be truly effective.” This lets Sierra Nevada’s finance team handle more responsibilities without additional personnel, and the company can redirect resources to quality and production efforts. And that means better beer. And better beer means happier customers.

EPIC is proud to play an active role in Sierra Nevada Brewing Co.’s Risk Management program, working alongside Paul and his team of professionals since 1989. Over the years, we’ve been inspired by the family’s unwavering commitment to quality, dedication to their people, and contributions to the craft brewing industry.

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The Facilities Make the Company Just like the suit makes the man, Tim Hocking believes that Symcor’s evolution as a company mirrors the evolution of its physical spaces By A M A N D A G A R C I A

Back-office functions— nobody notices when they’re running perfectly, but everybody notices when they’re not, especially when it comes to money. Dozens of back-office functions are required for a financial institution to provide smooth service to its customers, and while some banks prefer to care for these functions on their own, many would rather outsource them to a service provider. In Canada, that service provider is most often Symcor. The company was founded in 1996 when TD Bank, Royal Bank of Canada, and Bank of Montreal created a joint venture to consolidate their processing into one common platform that would accept each bank’s unique system. Rather than duplicating their efforts in check-processing services, mail and distribution, electronic file transfer, and other functions, these banks wanted to share the load and increase capacity. Hence, efficiency was the core of the business model. At the time, Tim Hocking was managing a regional corporate real estate portfolio Tim Hocking of retail branches VP of Corporate for the founding Real Estate & bank, TD Bank. His Facilities time in the indusSymcor try had provided him a long view of Mississauga, ON business, and his

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TRENDS EVOLVE. EXPERTS LEAD.

Serving as trusted advisers to Canada’s most notable companies is a role we take seriously. Backed by the world’s most powerful real estate platform, our team is committed to delivering superior results. For every client, on every assignment. www.cbre.ca


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Facility Plus is a leading complete facility service company with over 1,100 customers coast to coast since 1987. From your very first point of contact, our goal is to give you, our clients, peace of mind and confidence that your job will be completed to professional standards, to your exact requirements, on time, the first time! We provide our commercial, industrial, retail, institutional and office clients with a one stop source for complete facility service.

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background in project design gave him a creative approach to problem-solving. That, plus his experience and knowledge of bank operations, made him a natural fit for Symcor. In 1997, he joined the team as manager of real estate operations and was later promoted to vice president of corporate real estate. One of Hocking’s first tasks was to tour all nineteen existing data centers and operations facilities across the country. Many were housed in first- and second-level basements, warehouses, and literal back offices with little light. They tended to be furnished with a hodgepodge of eclectic, thirty-year-old branch office hand-me-downs. The conditions were not inspiring. Hocking had his work cut out for him. By 1999, those nineteen facilities had been consolidated down to nine, and real estate costs had been reduced by 25 percent. In the early 2000s, one of Symcor’s parent banks was acquired, which created an increase in processing volume and subsequent organic growth for Symcor. In 2004, Symcor welcomed its first client outside of the original three, which meant that the company was now servicing nearly 80 percent of the banking market in Canada. What was originally projected to be a three-year consolidation project had grown into an organization with substantial influence in the banking industry. When Symcor’s parent banks decided to extend its financial services into the United States, Symcor expanded as well. Between 2006 and 2007, facilities were opened and renovated in the United States, and Symcor’s footprint grew to more than thirty sites. With the financial crisis in 2008, however, Symcor decided to exit the United States and focus on its Canadian operations. Since then, Symcor has evolved in other ways—breaking into different markets and developing innovative products. The company now provides not only payment processing and document services, but also secure data-processing for the wealth management, brokerage, insurance, telecommunications, and retail industries through a network of business centers. They have built one of the largest digital archives in the country and continue to explore the best way to service paper check processing while developing support for digital and analytical services. “Our capability to straddle both the electronic and physical payment industry has been a key for us in the last several years,” Hocking says. “But it’s our proven expertise

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in trusted, secure, complex processing that sets us apart from competitors.” Moving into web- and image-based processing has involved significant equipment and infrastructure adjustments in Symcor’s facilities, which are constantly in flux. Because digital processing requires less space, it has created a unique opportunity to redeploy space—for another business line, for example—or a new customer. “In an environment that is constantly changing, we provide creative and cost-effective solutions to adapt to transitions as they come,” he says. As important as the transformation of services has been, so too has the transformation of Symcor facilities. “I believe the evolution of Symcor’s physical space has closely mirrored the growth and development of the company,” Hocking says. “At many companies, back-office operations are not the prime business, but at Symcor, they are our whole business.” The company takes its work and its workers “out of the basement.” Existing buildings have been remodeled, hodgepodge furniture replaced, technology updated, and once forgotten back-office employees are now empowered and appreciated. Today, Symcor has consolidated to eleven production facilities and two corporate locations across Canada, and it maintains consistent, functional operations from coast to coast. Just as the company prides itself on transparency, the employees are proud to display their workspace. Much like how Symcor provides safe, secure services that protect its clients, its facilities supply a well-lit, safe, environment. “Seeing how things have transformed is quite rewarding,” Hocking says. “I am proud of the work and the people who made it possible.” Over his nearly twenty years with Symcor, Hocking has gained a thorough understanding of operational efficiencies and developed the ability to adapt the long-term investment of real estate to a fast-paced business. Hocking has honed his awareness of industry trends in real estate and facility use, as well as those inside and outside the financial industry. In many ways, his work is still cut out for him, but he is now focused on striking the balance between low costs, flexible facilities, and a resilient infrastructure. This balance is key to efficiency, which is still at the core of the company’s model. Fortunately, those backoffice processes have come a long way from the basements where they started and are now illuminated as the operational backbone that they have always been.


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Corporate Playmaker Under Armour’s Andrew Page and his accounting and finance team plan to help the activewear company race toward an ambitious growth target: becoming a $10 billion business Words by C H R I S G I G L E Y

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Photos by K R I S T I N D E I T R I C H


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Andrew Page Corporate Controller Under Armour Baltimore, MD

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Like the athletes it outfits with footwear, apparel, and gear, Under Armour pursues success by setting goals. In 2014, CEO Kevin Plank predicted that the company would grow from $3 billion in annual sales to $10 billion by 2020. Corporate controller Andrew Page is an important player in the company’s strategy to get to this goal. One of his key expectations is that the accounting team at Under Armour reflect and respond to the company’s culture. Under Armour’s culture is a teamoriented, two-way commitment between employees—appropriately referred to internally as “teammates”—and the company. It works. According to Page, Under Armour has doubled in size every three to four years, and it actively seeks talent that can keep pace with that level of growth. “From an accounting teammate perspective, I look for professionals who are not only talented in the accounting discipline, but equally astute in creating capacity for themselves—individuals who thrive on creating a better way, figuring out how to be more efficient,” Page says. “The ability to scale with the growth of the company is key.” Page adds that relationships with accounts, vendors, and athletes continue to become more complex alongside Under Armour’s international growth—and that his team prides itself on being responsive to these varying needs of the business. “In essence, every department from sales to human resources to supply chain to accounting has its role within Under Armour, while at the same time all striving toward the same goal,” Page says. “Much like a professional sports team.” Page describes the company culture as such that employees must be willing to adapt and go beyond their day jobs. As the corporate controller, his responsibilities have included not only overseeing the accounting functions of the company, but also providing key support to other functional teams such as legal, retail, strategy, corporate real estate, and IT. At Under Armour, Page says, employees are encouraged and expected to have points of view. Accounting is no exception when it comes to strategic decisions. The Under Armour executive team wants to know the downstream and future implications of key decisions from an accounting perspective.

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“The controllership team knows the product. We are raging fans of the brand.” A N D R EW PAG E

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“Our leadership team trusts us to provide the guardrails to keep the company in bounds when it comes to investigating certain decisions that have financial implications,” he says. “It’s a balancing act. We want our teammates at the top of their game, with a keen understanding of the professional standards in accounting, while at the same time having the ability to understand the business objectives and alternatives, discuss the topics with the business leaders, and provide valuable input to the development of a solution that complies with the professional standards.” So, how does an accounting and finance employee balance those strengths while maintaining a rational, data-driven approach to decision-making? “I don’t think it’s hard to master because it’s something you come to the table with,” Page says. “It’s something we look for in the hiring process. You set the guardrails, but once inside those guardrails there’s an open-minded thought process around what’s possible.” Then there’s the passion for the brand. Page says that most companies he’s worked for have tended to keep accounting at a distance from the product. This is not the case at Under Armour. “The controllership team knows the product,” he says. “We are raging fans of the brand.” A new global ERP system is set to go live in phases next year and should help Page and his team. Under Armour is rolling out the SAP Fashion Merchandising Solution system—unique in that it will give the company end-to-end visibility across the value chain, increase visibility to inventory across its stores and channels, and increase reporting capabilities using multiple variants. Coupled with the insights driven from Under Armour’s Connected Fitness business, the new system will enable it to know its consumers better than anyone in the industry. Over the past two years, Under Armour acquired the fitness tracking apps MapMyFitness, MyFitnessPal, and Endomondo. In 2015, it harnessed those acquisitions to create a digital fitness community via four mobile platforms. And at the Consumer Electronics Show last year, it unveiled two wireless headphone sets in partnership with JBL, a smart shoe, and an activity tracker. It also introduced HealthBox, a connected fitness system. All of this ties in with the new ERP system. “We will be able to evaluate customers’

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“In essence, every department from sales to human resources to supply chain to accounting has its role within Under Armour, while at the same time all striving toward the same goal.” Credit2B's cloud technology empowers accurate and timely decisions by connecting the payment experiences of trade suppliers around their common business customers. We combine this with online credit applications, comprehensive third party data, public filing information and on-demand credit analysts to provide a complete view of financial risk, all in real time and in one place.

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buying patterns, exercise patterns, sleeping patterns, and nutrition patterns, and, using these insights, deliver to them product and information that helps them live healthier lives,” he says. “We’ll provide information to our consumers that they weren’t even asking for. But once they get it, they won’t know how they lived without it.” Meanwhile, on the back end, having all this information in one place will serve as the backbone of Under Armour’s growth strategy. The new system will give Page and his team increased data and transparency to help the company make optimal decisions moving forward. “We believe the new ERP system will also further increase automation across our accounting function, allowing our accounting teammates more time to analyze data and supporting our business, replacing time previously spent on booking journal entries or manually inputting information,” he says. The company anticipates the new SAP system to be active for the entire company by the end of 2018, positioning Under Armour as the first company in its industry to operate on one global system. Page and his team are the heart of Under Armour’s offense driving toward its $10 billion goal. Page is confident that they will reach it—so long as they follow the playbook as defined by the company’s culture.

OFF THE CLOCK WITH ANDREW PAGE “When you work hard at Under Armour, you play hard,” Andrew Page says. He’s not talking about parties—his idea of this is more in line with what you might expect from someone at a major activewear brand. Many Under Armour employees were once promising athletes, and Page himself competed in track and field when he was a student at Eastern Kentucky University.

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Since then, Page has kept his passion for the sport alive at Bowie High School in Bowie, Maryland, where he’s coached the track team to five state titles.

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“UA’s outlook on innovation cuts across the firm. True to the company’s mission, UA’s finance team pushed Credit2B to make its platform better. We sincerely appreciate their partnership as it drives us to build a high performance culture like theirs”

CONTACT Roxanne Nazzaro 646-442-3496 rnazzaro@credit2b.com

—Shyarsh Desai, CEO Credit2B

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International Spirit for Institutional Transformation A combination of international expansion and a do-it-yourself ethos has allowed CFO Anders Nessen to foster profits for Campus Management By J A C O B W I N C H E S T E R

Every year, Campus Management celebrates Diwali, the autumnal Indian light festival, where numerous luminous displays herald the incandescent power of good over evil and light over darkness. “This is an international company. Over half of our employees are in India—mostly in Bangalore—and we have a lot of employees going back and forth. There’s definitely an international feel,” chief financial officer Anders Nessen says. “Last year, I went to the wedding of our Indian controller in Kochi, India, which was very cool. Also, our CEO is Canadian and I’m Swedish, so every time Sweden loses to Canada in hockey, he’s quick to point it out.” This sort of diversity comes in handy for Campus Management, an education technology company that specializes in software information systems and management solutions designed to cohere the administrative data of nearly 2,000 college and university campuses in nineteen countries. Today, the company boasts offices in Boca Raton, Florida, and Bangalore, India, as well as satellite offices in London and Brazil, but that wasn’t always the case. In 2008, Nessen and his team spearheaded an initiative to

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acquire Bangalore-based Talisma, which added a major CRM component to the company’s suite of products and completely redefined Campus Management’s operations. “We were not international at all before we purchased Talisma. And so, almost overnight, we had all of these international customers and a big Indian footprint,” Nessen explains. “There was a lot of integration activity that had to happen across all areas of the business, but today, we’re actually quite streamlined. The two locations are very much aligned.” While now cultivating the international spirit that enhances service for its globally diverse customer base, Campus Management traces its origins to software development for proprietary universities, such as Bridgepoint Education, which have complex, diverse, and progressive needs. “Because those schools have been highly innovative and pioneered new academic delivery models, we have had to be very flexible to fit all of their needs,” Anders Nessen Nessen says. CFO Since these institutions often had Campus Management uncommon semester lengths and Boca Raton, FL online or hybrid-

Anders Nessen grew up in Sweden, but frequented Boca Raton, Florida, now home to Campus Management.


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learning programs, Campus Management heeded the challenge to develop new and innovative systems, which also gave the company an edge over its rivals. “Most of our competitors built their products a long time ago with the traditional academic model in mind,” Nessen says. “Since that initial set of customers, we have expanded into the traditional school segment, as well as internationally. But what really defined us was growing up in that fast-evolving proprietary segment.” Nessen grew up in the suburbs of Stockholm as the child of Swedish parents, who would flee the country’s annual snowfall for Florida’s palm-studded warmth and to visit his grandfather in Boca Raton. He later attended high school at a boarding school in the same city. Eventually, he earned a degree from the University of Virginia in finance and information systems, which led to a position in the mergers and acquisitions group with Lehman Brothers in New York City. After two years, Nessen joined Leeds Equity Partners, a private equity firm that invests primarily in the education industry. As an investment professional there, Nessen learned general financial analysis skills, evaluated new investments, and learned how to manage portfolio companies. “Really, the big thing I took away from that experience was knowing what to focus on and how to think like an investor,” he says. “Something else I did a lot of was lender relationship management, including negotiating credit agreements, so it was really helpful to have a background in that.” In the wake of the 2008 financial crisis, Leeds Equity acquired Campus Management, and Nessen accepted an offer to become CFO. Now, he finds himself integrating the fundamental principles that he learned earlier in his career with newly developed skills, such as management. Along with always asking himself what would be important for the company’s shareholders, Nessen also places high esteem on taking personal action on a task rather than delegating. “More so than your average CFO, I like to take a divide-and-conquer approach, and if there’s something I can help with, I will just go ahead and do it,” he explains. “With a company of our size and structure, it’s important to be a doer at times. Of course, you have to also delegate, but there are a lot of situations when you have to do things on the fly or deal with confidential information.” He also tries to keep daily interactions succinct and to the point and to carefully manage the number of meetings he attends throughout the day, which otherwise can interfere with genuine productivity. From a financial perspective, Nessen places special emphasis on EBITDA—or,

19 countries

“We think of ourselves as being the central nervous system of the educational institution.”

2000 campuses

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earnings before interest, taxes, depreciation, and amortization. “Essentially, when someone values this business, they’re going to look at that as the ultimate metric. And so anything that affects that, whether revenue or cost, is something that would warrant focusing on,” he says. Whether implementing systems for the 150,000-plus students of the Ugandan government’s national universities or working with the Indian government to establish multi-million-person databases for its nation-wide skill development initiative, Campus Management continues its international expansion. And Nessen, along with his team, continue to demonstrate adaptability to fit the needs of regional customers. “One of the major hurdles we face is simply localizing the product. Sometimes, it can be quite cumbersome to make changes to fit the local market, just because it’s such a large footprint software that we have to be very careful in making the changes due to ripple effects throughout the software,” he says. Nessen also says that some of the company’s original proprietary customers have gone through tough times in recent years, although those trials have spurred further innovations from the company in the form of new products and services, including a recently launched finance, human resources, and payroll solution. For each costumer, Campus Management’s suite of services and software product offerings sit at the core of the organization. “We think of ourselves as being the central nervous system of the educational institution,” Nessen says. “We’re always thinking of ways to expand and improve our functionality to help institutions transform.”

1platform

on premises or in the cloud

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serving institutions

TRANSFORM HIGHER EDUCATION

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Tiffany’s DiamondBright Legacy Tiffany & Co. is known for exceptional luxury products, but general counsel Leigh Harlan sees its commitment to social responsibility and sustainability as its greatest strength By A M A N D A G A R C I A

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Leigh Harlan Tiffany & Co. SVP, Secretary, General Counsel New York, NY

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Leigh Harlan was thriving in the variety, speed, and rigor of the work at Cravath, Swaine & Moore LLP, the firm she joined out of law school. She was in her seventh year there and was up for partner in just a few months. So, when she got a call about an in-house opportunity, Harlan was certain she wasn’t interested. Well, almost certain. The call was regarding an associate general counsel position at Tiffany & Co., the iconic luxury brand and jewelry company, and after that talk, Harlan began to research. She discovered the company’s impressive commitment to corporate social responsibility and learned about its expansive global operations and that approximately 60 percent of the merchandise the company sold was manufactured in-house. “It didn’t seem like your typical global public company,” she says. “I was intrigued.” She was intrigued enough, in fact, to talk with the then-general counsel, though she believed that she would almost certainly turn down the job if it was offered. The general counsel not only reinforced everything that Harlan had discovered, but also explained that Tiffany’s was a living legacy, a 178-year-old American institution, and a timeless trendsetter. She learned that Tiffany’s was instrumental in setting the United States’ silver standard and responsible for designing the Grand Seal of the United States that remains on the back of the dollar bill today, as well as introducing, in 1886, the engagement ring as it is known today—with the diamond lifted above its band. Harlan was invited to interview with other executives and soon realized that her goal was no longer to make partner at the law firm, but to lead the fascinating legal world of Tiffany & Co. Harlan came on board in April 2012 and, two years later, was named general counsel. These days, she manages a team of eight in-house lawyers, as well as a crew of outside counsel who work together to ensure all Tiffany’s business is conducted at the highest level. Many legal tasks are related to manufacturing and retail matters, finance and strategic transactions, governance, and protecting Tiffany’s designs and intellectual property. Others concentrate on the company’s commitment to ethical diamond sourcing and to advocating for environmental protection and human rights. “We invest in job training and hiring local workers, and we engage experts to determine what constitutes a living wage in our overseas manufacturing locations,” she says. “That research informs what we pay our employees and so

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we can ensure they are fairly compensated at or above the local minimum wage.” Harlan’s team is responsible for legal issues related to a broad range of business functions, yet the company’s commitment to ethics and corporate social responsibility informs their work in all of these areas. “My team has a role to play in our operations, from the design and sourcing stage to the retail experience,” Harlan says. “We touch each part of our operations.” As a member of the executive team, Harlan’s critical thinking and sharp analysis make her not only a skilled lawyer, but a valued business partner as well. She contributes to strategic thinking and planning and helps set and clarify goals and determine how to achieve them.“Partnership with the business is the key,” she says. “To be effective, my team and I must maintain a comprehensive understanding of Tiffany’s industry, strategy, objectives, and operations, across all regions and functional areas, while also staying current on applicable laws and regulations.” It’s a big job, but Harlan is honored to be part of an organization that is using its influence to do good in the world. For example, Tiffany was a founding member of the Initiative for Responsible Mining Assurance (IRMA) in 2006, an effort to develop standards to protect human rights and minimize environmental harm in the mining sector. And, in 2014, Harlan negotiated documentation for a LEED-certified polishing operation in Cambodia, one of the country’s first LEED-certified buildings. “We recognize that our operations impact the earth, but we seek to reduce that impact and protect our precious natural environment,” she says. Furthermore, Tiffany has a zero-tolerance policy on conflict diamonds. While Tiffany only buys diamonds from countries that are participants in the Kimberley Process (KP), a joint government, industry, and civil society initiative designed to reduce the availability of conflict diamonds, Tiffany’s standards go beyond that process. The company actually sources 100 percent of its rough diamonds either directly from a known mine or a supplier with multiple known mines to better ensure traceability.

TIFFANY TRADEMARKS, PATENTS, AND COPYRIGHTS An in-house trademark enforcement team is composed of lawyers, investigators, and global security professionals.

Since 2009, more than 600,000 infringing auctions have been removed across online auction platforms, more than five million counterfeit items have been seized, and more than 8,000 infringing websites have been taken down.

Designs are copyrighted by Tiffany and/or its named designers, Elsa Peretti and Paloma Picasso. (Not all designs are available for copyright protection; those that are are copyrighted in these names.)

Original works have been protected by design patents since the nineteenth century.

Patent portfolio currently includes designs for the Tiffany Watch, Keys, and T collections.


We congratulate our friend and colleague

Leigh Harlan General Counsel of Tiffany & Co. for her highly successful legal career.

Intellectual Property Law frosszelnick.com | 212-813-5900


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LEIGH HARLAN’S KEYS TO A SPARKLING CAREER PATH

As your trusted advisor, we help you anticipate and understand emerging legal issues to achieve your business goals. For more than 40

years, we have been providing legal counsel in health care and life sciences, employment, labor & workforce management and litigation. Our industry focus in health care, financial services, hospitality, retail, and technology, among others, enables us to respond to your needs promptly, allowing you to rest easy.

“There’s no such thing as balancing work and family perfectly, but it helps to establish your credibility by working hard, evidencing good judgment, giving sound and practicable advice, maintaining a collaborative approach to work, and being an ethical and responsible person. All of that builds trust, and trust engenders support and confidence from colleagues. Be honest with yourself and others about what you want to do and what you can do. Don’t assume what will or won’t work, get help when you need it, and don’t be hard on yourself for needing it. Don’t be afraid to make your own path and do things differently. Be as present in each moment as you can possibly be, and wherever you are, give it your all.”

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“While the KP has been successful in stemming the flow of conflict diamonds, it only covers rough diamonds, and it has not adequately addressed human rights, as well as environmental and labor issues in the global diamond supply chain,” she says. So, Tiffany has implemented its own diamond source warranty protocol that requires polished stone providers to certify their diamond sources, and it has elected not to source from countries that are KP participants, but whose human rights practices do not meet Tiffany’s standards. Further, all polished diamond suppliers are subject to Tiffany’s Social Accountability Program, through which suppliers agree to Tiffany’s Vendor Code of Conduct and are subject to regular compliance audits. After a rough diamond has been cut and polished at one of the company’s state of the art facilities in Botswana, Belgium, Cambodia, Mauritius, or Vietnam, it is sent to New York. At this point, the stone is re-graded and inspected, with each diamond being looked at about 1,300 times before it finally makes its way to a store. The name Tiffany has become tied with quality and craftsmanship, so in addition to the classic standard of the four Cs (cut, carat weight, color, and clarity), Tiffany’s diamonds are graded on a fifth component: “presence,” which impacts the diamond’s brilliance, sparkle, and ability to disperse light. “The value proposition of a Tiffany diamond is clear,” Harlan explains. “It is truly unlike any other stone.” At every step along the way—from sourcing precious stones and raw precious metals to transporting, cutting, polishing, designing, manufacturing, and selling—care and quality are at the center of everything that Tiffany does. “We believe in higher standards across the board, which is why we have spoken out about critical issues in the global diamond supply chain,” Harlan explains. “But our commitment to acting responsibly and with integrity goes beyond what’s best for our product or even what resonates most directly with our customers; it’s just the right thing to do.” As an American corporation, Tiffany also does what’s right by their employees at home, Harlan continues. Exactly one year after becoming general counsel, Harlan became a mother. “It was the first time an executive at Tiffany had taken maternity leave,” she says. “When I announced my pregnancy to the executive team, I was prepared to outline my coverage plan, but they were so excited for me that I couldn’t even get it out.” That experience was one of many that has solidified Tiffany’s as more than a job for Harlan, and why she has never doubted her decision to join the company. “I love my company, and I love that it’s my company,” she says. “I get to be an insider at this amazing institution. I work with great people who I respect, and I believe tremendously in both our legacy and our strategy for the future.” That future and the good it will add to the world is what Harlan believes is the brightest aspect about Tiffany, and in her in-house role as general counsel, Harlan herself is shining brighter than ever before.


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Distilling a Giant Southern Glazer Wine & Spirits’ Steven Becker breaks down the string of acquisitions that ultimately led to the creation of North America’s largest wine and spirits distribution company

Elena Bragg

By K E I T H L O R I A

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SOUTHERN GLAZER’S WINE & SPIRITS

W E A R E P R O U D T O H AV E S T E V E N B E C K E R ON OUR LEADERSHIP TEAM © 2016 Southern Glazer’s Wine & Spirits

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At the beginning of 2016, the US alcoholic beverage industry was forever changed when Southern Wine & Spirits combined with Glazer’s to form what is now the largest North American wine and spirits distribution company. As Southern Glazer’s Wine & Spirits, LLC, the combined company employs more than 20,000 team members with operations in forty-four states, plus the District of Columbia, the Caribbean, and Canada. “For more than a decade, our industry has been experiencing an increase in consolidation, and we’ve leveraged that trend by making strategic acquisitions to drive our own growth,” says Steven Becker, Southern Glazer’s executive vice president, treasurer and compliance. “We got to the point where we were very strong on both the East and West Coasts, but did not have a significant presence in the middle of the country. So that became one of our priorities, to get into the Midwest and Texas.” The two distribution giants actually talked about a partnership about eight years ago, but they couldn’t come to an agreement at the time. Regardless, the leadership teams of both companies stayed in touch through the years, and the conversations became serious around 2015. “Both sides became comfortable with the idea that if we could come together, we could offer more value than anyone else in the industry and truly be the market leader,” Becker says. “This deal just made so much sense because we were so strong on the coasts and they were so strong in the middle of the country. Our footprint just overlapped perfectly.” Once contracts were signed with Glazer’s, Southern Wine hired PwC as consultants to help with the integration. “They really did a great job shepherding us through the transition, so once we signed, we had the right structure in place and it was an incredibly smooth transition,” Becker says. “If this deal was going to happen, the scope and scale was so large and important that we didn’t want any hiccups. Once we finalized and closed on July 1, 2016, everyone knew what their roles were. It was smooth and almost effortless.” Becker’s title changed somewhat with the combined company, adding compliance to his official list of responsibilities, but he notes that the effect on his job wasn’t significant. “I was always the corporate treasurer. Because I have a legal background, I have been involved in our compliance issues forever,” he says. “I didn’t get as much involved in all aspects of legal, but we operate in a very heavily regulated industry and I was always involved in our regulatory compliance, both on a state-by-state basis and federally. Now, that’s just more formalized.” And while the company is now larger, it has actually made strategic shifts so that the smaller suppliers don’t get lost in the shuffle. “We reorganized into regional structures; there’s a whole infrastructure now for the East region, Central region, Western region, and control-state region. In effect, we are running smaller companies, which makes it easier for us to be closer to suppliers and customers,” Becker says. “Our challenge was integrating the two entities so the combination was seamless for

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customers and supSteven Becker pliers and making sure that we were EVP, Treasurer able to treat all Southern Glazer suppliers and cusWine & Spirits tomers the same.” Miami, FL When Becker started with Southern Wine & Spirits in 1985, the company was in three states: Florida (though not state-wide), Nevada, and California (in the southern region). From 1976 to 1992, those remained the organization’s only states, as the company concentrated on building the business and becoming more prominent. “In 1992, we had the opportunity to buy an operation in Arizona, which wasn’t particularly large, but it was our first foray into a new state in a long time,” Becker says. “From then on, we added a state or two every year for the next twelve years.” Naturally, some of these additions were more significant than others, with the goal always being to eventually have a presence in each of the five major alcohol beverage consumption states: California, Florida, New York, Texas, and Illinois. By the time Southern entered Illinois, it cemented the company as a leader in its field, as it was the first wholesaler to operate in three of the top five markets. And it wasn’t done yet. In December 2004, it bought a small operation in New York, which increased its footprint to four of the five major footprint states. “It took twelve years to enter the Texas market, and the only way it was going to happen was partnering with the Glazer family and the Glazer companies,” Becker says. “Now, we can cross off all five.” Becker may have a new title, and the company may have a new name, but nothing has changed as far as his drive to continue helping the company grow. “We now have operations in Canada and the Virgin Islands, which is the first time we’ve been outside the United States. So, that’s something we’ll be looking at and seeing how it goes,” Becker says. “Having an international presence is an interesting opportunity for us. It has different regulations, and we’ve never pulled the trigger before. However, now that we’re operating internationally, that could be the beginning of a different approach or trend for us.”

THE RISE TO SOUTHERN Becker joined Southern in 1985 after working for Knickerbocker Liquors Corporation for seven years. He earned his bachelor of science from Syracuse University and his law degree from Boston University School of Law. He also has an MBA from the Wharton School of Business. A self-described sports fanatic, Becker equally enjoys watching and participating in sports, and he even played basketball in leagues until he was sixty.

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In the life sciences industry, we’re seeing new technologies make healthcare more personal with new, patient-centric, digital innovations; from self-monitoring devices that can interpret personal data and enable targeted care, to cloud platforms that invite providers to collaborate with the patients they serve. At Cognizant, our domain experts, technologists, digital and data specialists, clinicians and scientists are transforming the way clinical research sites collaborate with pharmaceutical companies, and enhancing patient engagement with innovative platforms and solutions.

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Our population’s growing healthcare needs present growing opportunities for our clients: to advance the future of medicine with digital, and improve the quality of lives.


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Into the “Lion’s Den” Michael Smith overhauled Mylan’s IT department and revitalized company culture By J E F F S I LV E R

When Michael Smith, global head of digital innovation and global business services, became chief information officer of Mylan, he brought twenty-two years of IT experience from Nike, where he had helped the company expand to become a global brand. Although the two organizations operate in radically different industries, Smith found similar circumstances and challenges at both companies. Mylan began as a West Virginia-based drug distributor and had grown to a $7 billion company that produces more than 2,000 different medicines that treat hundreds of diseases. An important part of its growth had been an aggressive mergers and acquisitions strategy, but the IT organization had not grown enough to keep pace with the needs of global operations. One critical shortcoming for Mylan was a lack of true business intelligence capabilities. Smith explained the situation to the Argyle Journal: “We had a group that we called our business intelligence team, but it was comprised of only two people who worked in finance IT … Because we didn’t have the right technology or ability within it, we weren’t necessarily getting the insights needed to be agile and make informed decisions.” He also inherited siloed systems that had resulted from building one-off point solutions. When information was needed from them, links were created to access data, but without integration into a larger framework or strategy. To address these and other issues, Smith transformed the IT department and its culture. He tapped senior executives and technologists from AIG, Amazon, Aviva, Costco, The Estee Lauder Companies, Nike, and even one of Mylan’s largest competitors to supply needed expertise

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and fresh perspectives to the company’s growing IT architecture, integration strategy, digital innovation, enterprise business analytics, and numerous other successful IT improvements. Smith has described the overhaul this way: “We brought in people who knew business analytics, business intelligence, integration, and master data management … [It was] as if we’ve gone from 1995 to 2020 in just a few months.” In addition to changing IT capabilities, he also had to change its culture. When he arrived, it consisted of two different groups: legacy employees, who were, in general, resistant to change, and newer employees who had come to the company through acquisitions and were more responsive to challenges. Smith increased engagement with both groups and built up internal skills and expertise with events such as the “Lion’s Den,” in which employees presented innovative ideas in a format like the TV show Shark Tank. Other key examples were the hackathons, some of which were described as challenges to design solutions that address changing healthcare needs by providing the most timely information possible. The hackathons also provided opportunities to build

Michael Smith CIO Mylan Canonsburg, PA

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relationships with regional colleges and universities that raised Mylan’s profile as an employer of choice and tapped into fresh IT talent. As Mylan began the process of updating its IT department to better serve its business needs, Smith was also adapting to the evolution of technology and the changing dynamic of the CIO’s roles. Smith sees developments like consumer-friendly enterprise class systems and ubiquitous mobile access shifting responsibilities to being strategic business advisors. In an interview with Jill Dyché, author of The New IT: How Technology Leaders Are Enabling Business Strategy in the Digital Age, Smith commented, “I believe there’s going to be two [CIO] models: a broker model, [where we handle] enterprise class systems, and one where technology is at the front end . . . Really good CIOs will do all of those because there will be a constant state of change.” Mylan has followed several key guidelines as it transforms IT to better serve as a company business partner, in part by constantly examining whether the solutions it developed were truly bringing value and advancing important business objectives set in place. Smith applied the same criteria to assessing IT’s overall portfolio. By reprioritizing and implementing a formal portfolio management process, Mylan was better able to free up resources in order to invest back into new, more aligned capabilities. Lastly, it ensured that employees had the necessary skills for the tasks at hand. This required developing more employee creativity, additional organizational awareness, and orientation toward business results. In an article he wrote for CIO Review, Smith summarized IT’s transformational mission: “IT must redefine its role in business and move beyond simply being a support to organizations, or we will not survive. We must dispel outdated notions that we cannot be strategists or catalysts for innovation.”

Cognizant congratulates Michael Smith on being recognized as an industry leader who embraces digital and technology innovation. Cognizant partners with our clients to create new business models and build the foundational infrastructure necessary to power digital success. We are honored to advise and support Mylan on its digital business journey. We wish Michael Smith and Mylan continued success and look forward to continuing our partnership.

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THE TO STEADY EXPANSION

DRIVE From an increased customer base to a focus on Spanishspeaking populations to a more robust infrastructure, Flagship Credit Acceptance’s Chris Keiser breaks down the building blocks on which the company will continue to grow

By L A U R E N H O F F M A N

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Americans find the process of buying a car to be more stressful than watching their favorite sports team compete in a championship game, going on a first date, or even getting married, according to a recent survey. Money is often the root of this stress, and while Flagship Credit Acceptance can’t alleviate this anxiety altogether, it aims to make the process of securing financing for a car purchase run as smoothly as possible. As Chris Keiser, an executive vice president at Flagship and its sole general counsel explains, the company juggles roles as both an indirect and a direct lender. “Flagship is one of the lending sources that buys financing contracts that you purchase at car dealerships; that’s our indirect lending service. But we also have an affiliate company, Car Finance, that’s part of our group and that we’re responsible for. They provide loans more similar to bank loans, where you get a set amount, and then can cash shop at the dealership,” he explains. Keiser continues that working with Flagship’s direct finance arm means one “can minimize the need for involvement with the dealer’s finance and insurance representative.” When Keiser came to Flagship, the business comprised about 300 employees. Today, the Chadds Ford, Pennsylvania-based company has about 900, with Keiser himself managing a team of around eighteen. Still, the company is small enough that Keiser can see the impact of the work he does almost immediately in contrast to his previous roles at larger companies. “Working in a smaller start-up, entrepreneurial


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Chris Keiser EVP, General Counsel Flagship Credit Acceptance Chadds Ford, PA

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environment, I can roll something out and see it implemented in a day or a week. The result of my effort isn’t a year away,” Keiser says. As Flagship expands, it aims to increase its customer base through specialized offerings. Recently, the company launched Flagship Military Lending, an auto financing program aimed specifically at meeting the financing needs of active-duty service members attempting to purchase new or used vehicles or to refinance existing loans. Flagship’s current efforts also consist of marketing toward and supporting the ever-growing Spanish-speaking population in the United States. Keiser has a strong background in international business and finance, a skill set he built early in his career working in legal affairs in areas such as Mexico, Argentina, Costa Rica, and more. Keiser worked on everything from acquiring companies and handling litigation to grasping the nuances of international consumer finance law. He also worked with companies establishing an international presence from the ground up. While that background doesn’t directly inform his day-to-day work at Flagship, there’s an intangible benefit. “Having worked in Spanish-speaking countries, knowing the culture as well as I do, and speaking the language, I see some companies treat serving that population as simplistically as saying, ‘Well, put our materials into Spanish,’” he says. Flagship aims to take a more holistic approach to serving Spanish-speaking populations, especially those who have recently immigrated from Mexico. “The auto loan business is a different animal in Mexico. It’s very complicated, and there’s not as robust a capital market,” he says. A simple translation of materials directed toward an English-speaking population doesn’t do enough to address those differences. “Don’t say, ‘Here’s our product. Take it or leave it.’ Our approach is to acknowledge the cultural difference and to market with an orientation that will appeal specifically to that market,” he explains. “Helping that population understand how simple the process of securing financing can be compared to other countries, and keeping in mind the important role that family plays in that culture goes a long way toward better serving the Mexican-American population.” Keiser sees Flagship partnering closely with dealerships who focus on Spanish-speaking populations as a major aspect of the company’s future. “We’ll ask ourselves how those communities want to be served rather than superimposing the way it’s ‘always been done’ on them.” New products and focuses notwithstanding, the bulk of Flagship’s growth lies in steadily scaling out of its current offerings, relying on the infrastructure the company has developed over the past several years. While that building-out process has come with its share of challenges, from a legal and compliance perspective, seeing the infrastructure support the company effectively as it has grown has been deeply rewarding as well. “Everything we do now builds on the infrastructure we’ve built—in policy, in procedure, and both—to support what we do from day-to-day and to support us as we grow,” he says. So what comes next for Flagship and for Keiser himself as the company continues to grow? “We can grow without adding a single product, which is exciting. We work with about 7,000 dealerships now, and there are maybe 18,000 franchise dealerships in the United States and many more independent dealers. There’s plenty of room for expansion there, and we’re a quarter percent,” he says with a laugh. “A quarter percent. Even going into the 1 percent quadruples us. With that kind of trajectory and growth potential, you’re not in a hurry to add anything new.” As for Keiser, he sees himself continuing to leave his direct stamp on Flagship. “Most of what’s here I had an impact on creating it. It’s my fingerprint,” he says. In particular, Keiser looks forward to getting involved in the company’s effort to reach a Spanish-speaking population. “On the Spanish-speaking [expansion], I’ll draw on my international background . . . getting to work on both the legal and compliance side and the business side.”

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Congratulations to our esteemed friend and colleague

Chris Keiser Executive Vice President & General Counsel Flagship Credit Acceptance, LLC

Best wishes for your continued success from Dechert.

Dechert is a global specialist law firm focused on sectors with the greatest complexities and highest regulatory demands. We deliver practical commercial insight and judgment to our clients’ most important matters. Nothing stands in the way of giving clients the best of the firm’s entrepreneurial energy and seamless collaboration in a way that is distinctively Dechert. dechert.com

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The Vision: to Power the World’s Video Advertising

Extreme Reach takes to the cloud

John Roland Chairman, CEO

By M I C H A E L H E R N A N D E Z

Extreme Reach Needham, MA

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John Dolan

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Television viewing has changed drastically in the past ten years. As consumers expand viewing habits beyond primetime and into streaming, time-shifting, and second-screening, advertisers must be just as nimble. And the distinction between TV and digital video advertising is diminishing as brands focus less on whether the screen happens to be on the living room wall or in the pockets of its target audience. With billions of dollars on the line, the advertising technology companies that succeed in this fast-moving environment need to do more than simply adapt; they need to have the vision to see where consumers, and the industry, are heading next. As John Roland, CEO of Extreme Reach, can attest, it takes vision and a will to disrupt to be a leader in TV and video advertising. When Extreme Reach entered the industry in 2008, its biggest competitor relied on satellites and other costly hardware to distribute ads to TV stations nationwide. Delivering tapes by courier and ads via satellite to hardware at the TV stations was the norm. Just six years later, Extreme Reach had built a robust cloud platform that eliminated the need for tapes, hardware and satellites, and ensured that ads for its growing roster of clients reached TV stations properly formatted and in pristine condition. Because of this forward-thinking approach and disruptive spirit, Extreme Reach managed to acquire its main competitor, DG Systems, for $458 million in early 2014. Additional innovations and acquisitions soon followed, and today, Extreme Reach serves the world’s biggest brands and their agencies in getting ads to both TV and video destinations while enabling Talent & Rights management wherever those ads play. Roland is now focused on the biggest disruption of his career—one that promises to transform video advertising. At launch, Extreme Reach was starting fresh in TV ad distribution, with plenty of ideas and a lot of passion, but no technology and only eleven employees. What would be daunting to some proved to be an advantage for Roland and his cofounders. “We weren’t saddled with older systems, legacy systems, all of the hardware,” Roland recalls. “We had a clean

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“We had a clean slate. Now, we find ourselves a lot more nimble, a lot faster moving, and a lot more profitable.” JOH N ROL AN D

slate. We asked ourselves, ‘How should we get these commercials from advertisers and agencies to TV stations today?’ The answer was an all-software solution running on top of a cloud-based platform. Now, we find ourselves a lot more nimble, a lot faster moving, and a lot more profitable.” Talent & Rights management is a critical piece of the advertising industry that doesn’t garner a great deal of attention, but of course, all of the performers, voice-over actors, extras, and even assets like stock footage and music are paid based on union contracts that must be in place when that ad airs on any screen. Talent & Rights management became much more complicated when ads moved from the closed system of television to digital distribution on connected TVs, computers, and mobile devices. Extreme Reach estimates that, in 2015, $1.2 billion was paid for Talent & Rights contracts, but another $75 million was paid in fees and penalties for violations of those contracts. With an estimated one-third of all video ads online running out of compliance with union contracts, it’s easy to imagine how quickly those fees add up. Roland found the opportunity to disrupt that space as well, acquiring Talent Partners, a major specialist in the field of Talent & Rights management, in 2015. As with DG, Roland and his team innovated in a space relying on infrastructure that was in place before the rise of cloud computing. Rather than rely on a decades-old mainframe, Extreme Reach was again able to use software and the cloud to disrupt a major competitor of the advertising industry. Today, Roland is getting ready to do it again by introducing a new means of getting ads to screens everywhere, a move that he now sees as so simple and efficient that it’s hard to believe it’s not already being done. Roland points to the way that Netflix and Spotify transformed their respective industries by moving to a streaming model that


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EXTREME VISION Extreme Reach chairman and CEO John Roland has been a leader in the advertising technology industry for more than fifteen years, including seven years as president and COO of FastChannel Network, a company he helped launch. Roland cofounded Extreme Reach in 2008 with the vision to power the world’s video advertising. Under Roland’s leadership, Extreme Reach has been widely recognized for its growth and innovation, earning a spot in 2016 on Forbes’ inaugural list of the “Top 100 Private Cloud Companies in the World” and on Inc. magazine’s “Inc 500” list in both 2013 and 2015. Roland is also the author of the book My Silent Partner, a roadmap for entrepreneurs building their businesses.

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eliminated the need to make hundreds of thousands of copies of each song or movie. What this model means for video advertising is that by streaming ads from one central, quality-controlled location, brands and their agencies are able to play ads everywhere, move faster, and be in compliance with Talents & Rights agreements. Ultimately, they wrest back full control over the quality and tracking of their coveted commercial assets. “Basically, because of the Internet, the asset can be in one location and stream from anywhere,” Roland says. “That’s 5,000 commercials ingested every day into our platform from our ad agency clients that can be made available to every TV and video outlet by an API. It’s a standard code that connects two technologies and enables us to provide access, with no human intervention, to all these ads in real time to every screen they’re meant to play on.” The company that launched nine years ago with eleven team members is now around 850 people strong. With such a large team and a robust enterprise platform serving thousands of clients, it’s essential to keep everyone at Extreme Reach unified toward the same goals. Roland and his executive team do this by staying true to the qualities they focused on at launch: integrity, honesty, respect, and teamwork. They have also remained focused on the organization’s “North Star,” as Roland refers to his shared vision for the entire company. “When you have 800-plus people rowing the boat, having a crystal clear direction is essential,” he explains. “We all know where we’re headed. Our vision is to power the world’s video advertising.” From the very beginning, Roland knew that it would be more effective to build something the entire organization could share rather than simply pushing company values down from the top. At that time, the team was small enough that most members were able to help craft the vision statement and company values. Today, Roland remains absolute in his commitment to an inclusive, collaborative environment. Extreme Reach went through a full re-branding in 2016, complete with a new logo, tagline, website, and suite of materials that describe what the company is today, the value it brings to the market, and its vision for the future. Team input was also a major driver in that process, Roland says: “It was a perfect example of how much we and our customers benefit when all of our team members feel a sense of ownership and buy-in.”

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Elena Bragg

SMARTER HR

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Annie Hammer knows the talent game is as hot as ever, which is why she’s helping Pontoon leverage tech tools in new ways to help global clients By Z A C H B A L I VA

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Pontoon, the global workforce solutions firm, is known for applying innovative methods to solve complex problems. Its global technology and analytics director, Annie Hammer, recently had a client with a unique challenge: the large, multinational company needed hundreds of contract employees. After failing to find those employees in the local workforce, the client started using many suppliers. It rushed to hire temporary workers from various countries and about thirty employers of record. At work, the employees struggled to understand and adapt to company culture. After hours, they felt isolated and alone in a new and different culture. When the company came to Hammer, she found a new way to deploy tech tools to transform the situation and drive results. To help solve the problem, Hammer implemented Avature DNA, an enterprise social network that enables organizations to better support and shape their company culture. The system lets employees create their own profiles and connect with their colleagues. They can search, follow, tag, post, and engage with one another online to discuss everything from project specs to apartment rentals, arranging social outings after work, and sharing restaurant recommendations. Organizations are able to post branded automated announcements and other targeted messaging all within the platform. In this case, the client designed targeted ads to suggest further job opportunities to temporary employees as their assignments neared completion. Although Avature DNA was designed for permanent employees, Hammer’s team proved its value for contract hires. The move illustrates both Hammer’s willingness to chart new territory and the importance of key

technology partners that enable Pontoon’s best-in-class workforce solutions. The DNA platform comes from Avature, a software as a service company that provides a highly configurable enterprise platform for talent acquisition and talent management. “We’re not a tech company. We’re not building these products. It’s critical that we find innovative partners,” Hammer says. The right network of providers allows Hammer to pull from Pontoon’s ecosystem the à la carte tools that are suited for start-ups and multinationals alike. Before Hammer joined Pontoon, she worked for companies such as Marathon Oil and Hickory Farms. Then, she spent five years as a client services analyst for Taylor Nelson Sofres. Those experiences are foundational to Hammer’s approach as she looks to bring consumer marketing service delivery methods to HR. “Most companies know how they can care for their customers. We’re working to help them understand how they can improve outcomes by caring for their employees in the same way,” she explains. Technology is an important part of the discussion. Pontoon works with more than 150 companies operating worldwide. Hammer and her team work to ensure they identify the right tech tools and then configure those tools in a way that supports the HR goals of each specific client. “Technology should do the heavy lifting so our teams can work with business owners to deliver the right HR and recruitment solutions,” she says. Hammer relies on a team of subject matter experts in North American, Europe, and Asia that evaluate, implement, and support new technologies and applications. When Pontoon delivers HR services, it examines clients’ people, processes, and technologies. Hammer works with her

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colleagues to provide customized tech-enabled solutions that make recruitment and employee Global RPO Technology and engagement easier. Analytics Director One client turned to Pontoon after struggling to fill Pontoon hourly positions at O’Hare Toledo, OH International Airport. Before outsourcing recruitment, the client suffered high attrition rates. Pontoon took a focused approach on sourcing and recruitment to identify the right type of talent. Pontoon launched a 120-day pilot program, customized the client’s recruitment process with fully automated tech tools, launched targeted social media campaigns to increase brand awareness, built a multichannel online registration approach, and filtered all data through Avature’s Candidate Relationship Management tool. The results were staggering. By deploying these tools, Pontoon increased new hires by 300 percent and reduced attrition by more than 20 percent in just ninety days. Additionally, the changes reduced overtime and temp labor spend by $2 million as the company implemented the strategy across all North American locations. Pontoon combines disparate tools to deliver a new breed of HR solutions beyond basic tracking functions. “Tools like the ones we use from Avature help our customers engage their candidates early and stay connected throughout the entire hiring process from first contact to onboarding, and beyond,” Hammer says. “We’re moving away from just tracking to a platform for full engagement with all HR stakeholders—candidates, recruiters, hiring mangers, employees, and more.” With Avature, recruiters become marketers—they can launch branded landing pages, send targeted e-mail or SMS campaigns, and post social media messages that all deliver relevant content to help attract and engage passive talent. They can deploy fully branded sites that enable candidates to easily express their interest in the organization, apply for jobs, or even schedule an interview. New technologies like Avature’s are also enabling social to be at the core of HR, allowing employees and organizations to be more connected, bringing the company culture to life, and boosting engagement. With clients of all sizes that operate in various parts of the world, flexibility and scalability are especially important for Pontoon. The company uses solutions from multiple vendors to provide experiences tailored to their

Annie Hammer has spent more than seven years with Pontoon, starting as a business analyst and growing her career up to the leadership role of global RPO technology and analytics director.

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internal clients, their external customers, and their candidates or employees. In its search for sophisticated software, Pontoon chose Avature as its main technology partner. The Avature platform makes a convoluted, overwhelming, data-heavy process faster and easier, as it allows the HR team to focus on engagement and service delivery from the very first time they connect with a candidate to hiring, onboarding, and beyond. “Avature works in the background and lets us focus on building relationships as we help our clients attract candidates, make the right hires, and retain the best talent,” Hammer says. Thus, Avature has enabled Hammer’s vision to bring consumer marketing service delivery methods to HR. As she works in human resources, Hammer is noticing a few trends in the industry. “Pontoon’s clients are realizing that technology and social media are uniting to form the new core of HR,” she says. “Everything is becoming more connected, and businesses should take the opportunity to engage in new ways.” While some companies fear for the negative aspects associated with embracing the digital revolution, Hammer says the advancements are inevitable. Companies that embrace the shift stand to reap the rewards as they find new ways to care for employees throughout their entire tenure with the organization. As Pontoon moves forward, she’s dedicated to finding new ways to implement the latest technologies to enable great HR solutions. “We’re not just looking for the next shiny and fun thing. We’re analyzing business problems and finding the right new technologies that can address and solve those problems,” Hammer says. Currently, her team is pondering how chatbots and virtual reality tools could fit into Pontoon’s ecosystem. As they deploy these and other advancements, the technology and analytics team will continue to help Pontoon clients win the fierce and unending battle for talent.

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How Strong Guidance Eases the Toughest Complexities Brian Ellis and his legal team ensure all of Danaher’s diversified companies are operating at the highest of levels By L I S A T R O S H I N S K Y

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Mike Olliver

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As senior vice president and general counsel of Danaher Corporation, Brian Ellis has the distinct challenge of bringing outside companies under Danaher’s umbrella, but at the same time, letting those businesses run independently. “We have a unique operating model,” he says. “Danaher operates very decentralized. We manage our operating businesses in such a way where they are fairly autonomous, and with the appropriate guidance and counsel, they are the engine that drives Danaher’s success.” Headquartered in Washington, DC, Danaher is a large global science and technology company, with acquired businesses in the life sciences, diagnostics, dental, water quality, and product identification fields. “We are committed to remaining a diversified science and technology company and growing beyond our twenty operating companies,” Ellis says. “Some companies are driven from the center and have a very strong corporate persuasion. Danaher has strong general management leadership that helps assimilate new operating companies into our culture and helps chart their success, but we leave them a lot of latitude to decide their own directions.” The Danaher Business System is at the center of the company’s common culture. This system provides a set of tools and processes that enable the operating companies to execute and maintain their competitive advantage. The Danaher Business System and the core values are built on the notion that the best team wins and are the cornerstones of the company’s culture. “Danaher’s corporate executives are a talented group of experienced general managers and functional leaders. Since the operating leaders are closest to their customers, they understand what decisions would be best for their overall growth and sustainability,” he says. “The operating companies’ directions get approved by corporate Danaher, but the strategies for growth of those individual companies are set and delivered by the operating companies themselves.” Ellis, who was brought aboard with Danaher in January 2016, arrived with a wealth

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of experience leadBrian Ellis ing and developing global legal teams SVP, General Counsel and supporting business growth. Danaher He graduated from Corporation the University of IlliWashington, DC nois College of Law in 1991, and before Danaher, he worked at Medtronic Inc., where he was vice president and chief legal counsel of the Restorative Therapies Group. Prior to that, Ellis worked at GE Healthcare, where he was chief compliance officer and general counsel of monitoring solutions and services. While there, Ellis provided legal services to the business units with a focus on global commercial operations, litigation, compliance, employment, and business development. Now as the general counsel of the entire company, Ellis works with Danaher’s operating leaders and general counsels to manage the legal risks and opportunities that the operating companies face. “I have a sizable staff of capable lawyers—one hundred-plus lawyers—who sit on staff of the operating leaders of those companies,” he explains. “Twelve lawyers are part of our corporate staff in DC. The others are embedded in our operating companies.” Ellis explains that Danaher also has an incredibly robust process of how it cultivates acquisition targets. “My team supports and works alongside the corporate development team that is structuring, executing, and integrating transactions post-close,” he says. “We have subject-matter experts on the corporate side and a legal team of outside vendors that assist with these transactions.” Danaher owns large operating companies that make and sell products to other businesses, researchers, and clinicians. In 2014, Danaher generated $19.9 billion in revenue and its market capitalization exceeded $60 billion, according to the company’s website. “Danaher operates across the life sciences, environmental sectors, diagnostics, water quality, space, and dental businesses,” Ellis says. “We’re a complex group of companies; the technologies are far-flung and wide. Their

Brian Ellis counseled for GE Healthcare and Medtronic, Inc. prior to joining Danaher.

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THE

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INNOVATION CREATIVE PROBLEM SOLVING By finding cutting-edge ways to resolve the toughest litigation and investigation matters for medical device and pharmaceutical manufacturers, we help them focus on their core mission: discovering life-saving treatments. Pepper Hamilton is pleased to be working with Brian W. Ellis and Danaher Corporation.

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“We’re a complex group of companies. Their commonality is their strong brand recognition and the fact that they’re well positioned in their market.” B R IAN E LLIS

commonality is their strong brand recognition and the fact that they’re well positioned in their market. The Danaher Business System helps accelerate growth and drives sustainability.” In July 2016, Danaher separated into two independent, publicly traded companies with the spin-off of Fortive, an industrial growth company driving innovation in the areas of field instrumentation, transportation, sensing, product realization, automation and specialty, and franchise distribution. “It was an incredible effort to make the spin-off successful,” Ellis recalls. “We gave the industrial companies within Fortive the ability to make their own decisions and make smart capital allocation decisions to accelerate their growth as an independent public company.” Ellis says Fortive is doing well on its own as many of the associates in Danaher that were working for Fortive went with the company during the split. “For example, James Lico, who was Danaher’s executive vice president, is now the CEO at Fortive,” he says. “It was the right decision for Danaher’s shareholders, customers, and associates.” Pepper Hamilton LLP is proud to work with Brian W. Ellis and Danaher Corporation. Pepper, a multipractice law firm with more than 500 lawyers nationally, offers one of the largest and strongest teams in the country devoted to representing medical device and pharmaceutical companies in complex litigation and investigations matters. Founded in 1890, Pepper provides corporate, litigation, and regulatory legal services to a wide range of leading businesses, governmental entities, nonprofit organizations, and individuals worldwide. pepper.law

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Staying True in Times of Change Sallie DeMarsilis positions finance to help spur growth while maintaining the integrity of luxury watch company Movado Group Inc.

Jose Tutiven

By S T E P H A N I E S . B E E C H E R

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In 1947, American designer Nathan George Howitt fashioned Movado Group Inc.’s signature museum watch: a stark dial featuring a lone dot held in the twelve o’clock position, a minimalist nod to the sun at high noon. Heralded as a symbol of modernism, the iconic design quickly became synonymous with the luxury watch brand. Nearly six decades later, Movado’s timepiece collections continue to entice buyers around the globe. That’s not to say the brand hasn’t encountered real challenges along the way, the most obvious, of course, being that people no longer need watch accessories the way they used to. Yet, where so many legacy companies falter by giving way to reinvention, Movado Group Inc. maintains its relevance by staying true to its roots. This simple, but significant perspective is set in motion largely by Movado’s talented management team, including Sallie DeMarsilis, Movado’s senior vice president and chief financial officer. DeMarsilis joined the organization in early 2008, right before the recession and the advent of smart technology—the combination of which resulted in a rocky retail environment. That’s when the company switched its focus from advertising and routine product assortments to zeroing in on the Movado consumer, according to DeMarsilis. “When we were going through the recession, we hunkered down and looked internally for ways to improve,” DeMarsilis says. “Before we focused on great marketing and sales. Now, we had to look at who was wearing our watches and why. The consumer is so smart that you really have to give them a compelling reason to buy.” In addition to holding focus groups and conducting other forms of customer research, Movado dug into merchandising, product design, and insight into the current marketplace. “People thought that they knew what the consumer wanted. Now, we are legitimately listening to them,” DeMarsilis says. “If you stay at your desk, you don’t get that. Our focus is now on innovation, beautiful design, and our strong product pipeline—the next generation, so to speak.” Sometimes that means reaching into the archives to update classic looks to make them relevant to a new audience; collaborating with media, artists and celebrities; and, of course, embracing change. For example, Movado has launched a new line of connected watches to its tech-savvy customers. Unlike other smart watches, however, Movado has designed the watches to look and feel like their analog pieces—yet another way the company stays true to its DNA. “We’re resonating with the younger consumer,” DeMarsilis says. “It wasn’t the one who aged with us, like back in the 1980s.” Interestingly, it was during the 1980s that DeMarsilis was first introduced to the world of consumer goods. Fresh off of earning her bachelor’s degree in accounting from Boston College, she went to work for Deloitte, where she held a variety of traditional roles within the

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Sallie DeMarsilis SVP, CFO Movado Group Inc. Paramus, NJ

professional services firm, including at its national office. “I loved the pace and the environment and knew that was what I wanted to do,” DeMarsilis says. “But the industry I kept gravitating to was consumer goods.” One of her clients happened to be fashion retailer Ann Taylor. DeMarsilis says she jumped at the chance when the company offered her a position. “Being in consumer goods, especially luxury, was something I found really rewarding,” she says. “In the finance of things, it’s not exactly sexy or creative, but it helps that I’m engaged in something consumers love: great product at compelling prices. I knew I could help a company succeed in doing that.” A lot of her success was due in part to timing, she explains. DeMarsilis came aboard at Ann Taylor before the company surged onto the national scene, the growth of its e-commerce and factory store concepts, and the launch of Ann Taylor Loft, the brand’s more casual output. As the company grew, DeMarsilis climbed the corporate ladder and grew right along with it. “That’s where I learned to roll up my sleeves and became a jack-of-all-trades, helping with cross-functional teams, growth, and strategy,” DeMarsilis explains. “They probably grew over 400 percent in stores in a relatively short period of time. It was extremely fast-paced.” DeMarsilis’s work with Ann Taylor soon caught the attention of American textile and clothing company The Warnaco Group, the parent company and licensor behind several iconic brands, including Calvin Klein Jeans, Calvin Klein Underwear, Chaps, Speedo, Warner’s, and Olga. (The group has since been acquired by PVH Corp.)After ten years, DeMarsilis left Ann Taylor to become Warnaco’s senior vice president of finance, and was summarily introduced to wholesaling on the global stage. “Ann Taylor was solely domestic and was strictly retail. We only had direct-toconsumer,” DeMarsilis says. “Warnaco was global. It was a little twist in the road there, wholesale as well as retail.”


C O M PA N Y

RISK READY “Our focus is now on innovation, beautiful design, and our strong product pipeline— the next generation, so to speak.” SA L L I E D E M A R S I L I S

Unlike Ann Taylor, which was on a growth track, Warnaco was a mature company with several brands to balance. “We had to think, ‘What does each brand need for resources and to keep them true?” DeMarsilis explains. “The DNA of each brand is unique. Consumers want to think of all of these as different. It was difficult and fascinating, and very much helps me in my current role.” Like Warnaco, Movado Group Inc. is a multibrand global company. In addition to its namesake brand, it is also the watchmaker behind Concord and Ebel, as well as the licensed Coach, Tommy Hilfiger, Hugo Boss, Lacoste, Juicy Couture, and Ferrari lines. Also like Warnaco, these lines range in customer base and price points—from about $75 for fashion watches to up to $10,000 for luxury designs.

While DeMarsilis contends her role as CFO is largely traditional—her work centers on finance, forecasting, investor relations, financial reporting, treasury, taxes, and new business and licensing agreements—she says a large part of her draw to Movado is its creative and collaborative environment. It’s entrepreneurial in spirit, she adds. “I love that I get involved in all aspects of the company,” DeMarsilis says. “Our top priority is our customers and staying true to our brands. It’s who we are.”

Marsh congratulates Sallie DeMarsilis and Movado Group on their continued success. Great companies effectively anticipate, quantify, and fully understand the range of risks they face in order to unlock new growth opportunities. Marsh is proud to be Movado’s risk advisor.

Marsh’s dedicated Retail and Wholesale Practice provides deep expertise and insights to make you RISK READY. marsh.com

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In 1960, there were about 75 million registered vehicles on the road in the United States. Today, there are three times as many—which means that transportation companies need stronger leaders than ever to keep up and pave the way for growth.

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Where the Rubber Meets the Road

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As chief operations officer for Kia Canada, Ted Lancaster is steering change for the automaker that’s resulting in more recognition than ever before— and he has no plans to let up by Paul Snyder

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“Good ideas come from everywhere; you just have to be willing to listen.” After seventeen years in the Canadian market, Kia is gaining some strong traction. The automaker recently sold its 750,000th vehicle in Canada and is now the fastest-growing brand in the country. For Ted Lancaster, Kia Canada’s chief operations officer, that success is something to celebrate, but it’s not an excuse for the company to rest on its laurels. “The brand impression is not as strong as we hoped for, being only at 80 percent against Honda, when our quality is the best in the industry,” he says. “There were challenges when we entered the market. We only had two models available, and for a long time, it’s been an uphill battle to make people realize how good the cars are.” Nevertheless, the realization is spreading. In March 2016, Kia Canada launched the “Made For You” campaign, an advertising effort in which real customers talked about the vehicles, what they liked, what surprised them, and what delighted them. This came just prior to Kia landing atop the J.D. Power & Associates Initial Quality Survey—the first non-luxury brand to receive the distinction in twenty-seven years. “We’re on pace to see sales up year over year,” Lancaster says. “We’re seeing gains in brand interest.” That Lancaster is involved with this turnaround and making these efforts to promote and grow Kia Canada is no surprise. From his time playing minor league hockey in the San Jose Sharks organization to his first jobs in sales, he’s been driven by teamwork and the ability to make connections with people. Although he concedes that there can often be a disconnect in automotive companies between executives in original equipment manufacturer (OEM) offices and employees on the dealership floor, Lancaster knows there needs to be a connection between the two. He’s seen it from both sides. “I know what dealers face,” he says. “I’ve watched margins change. Having had the opportunity to work in dealerships allows

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The Road To Green Kia’s commitment to environmentally friendly vehicles has already resulted in the company’s first zeroemissions model, the Soul EV, and in 2017, the automaker will launch the Niro Hybrid, which Ted Lancaster describes as being designed “from the ground up” as a full hybrid utility vehicle. Although technology is limiting an electric vehicle’s battery mileage to roughly 160 kilometers, Lancaster says that the next step will be passing 250 kilometers, and engineers are working on making this a reality. “It takes time to develop, and time for the technology to catch up,” he says. “We want to not only produce the cleanest vehicles possible, but also the most fuel efficient, so we will continue to pursue the next steps.”

me to reduce the disconnect between the OEM and the dealers.” Although he studied law at George Mason, Lancaster says that early experiences in dealerships with other automotive companies, including GM and Honda, set the course for his career going forward. Not only did he enjoy the face-to-face experience of meeting people and helping them find their vehicle of choice, he also quickly gained an understanding of what kind of support dealers need from corporate leadership to succeed. That kind of know-how has proved invaluable throughout his career. “When I’m in an interview or talking with anyone, I’ll be the first to admit that I’m not an MBA,” Lancaster says. “But I’d put my twenty-plus years of experience up against anyone that does have an MBA. I want to talk to and hear from everybody—all the way downstream to directors, national managers, and support staff.” His commitment to the job and passion for his team have even prompted those who’ve worked with Lancaster to give him the nickname “the bull terrier,” which he says is appropriate. “Those animals are fair, considerate, and loyal to a fault—but if they’re crossed, they’re quick to bite,” he says, although he adds that he’s hard-pressed to remember a time he’s been crossed and had to show his teeth. Joining Kia Canada, he says, was a huge opportunity—not least of all because the automaker’s product far exceeded the industry’s expectation. The continuing goal of the company is to not only get that message to new customers, but to the rest of the industry as well. Lancaster says it will take a strong, collaborative effort, which is something he’s all too happy to help steer. He has mentoring sessions with employees once a month that focus on tasks, bigger ideas for the department, and ways that they can grow as employees. Collaboration is not only encouraged, but it’s also embraced. “Good ideas come from everywhere,” Lancaster says. “You just have to be willing to listen.”


GAI N I NG TRACTION

YOUR VALUE CHAIN PARTNER Teeing Up Trust

TED LANCASTER Chief Operations Officer Kia Canada Mississauga, ON

The payoff in listening to those ideas is not just about gaining more traction for Kia. It’s about a company-wide investment in something far more long term. “I like to see people enjoy their work and be successful,” Lancaster says. “It’s a people environment. I take the time to shake hands and ask people how they’re enjoying the product. You know, there are always small conflicts between dealers and the OEM, but I like the challenge. This is a job where you can come in and try to change the future.”

At Hyundai Glovis, we create customer satisfaction based on trust to the world’s leading logistics company in the 21st century.

Ted Lancaster says there are two important lessons for business he learned from his father: that the only failure in life is the failure to try and that if you’re honest, you maintain your integrity and trust with others. The second lesson, in particular, he saw in action when he was working with Mitsubishi. “I was in British Columbia, and my wife and kids were in Ontario,” Lancaster says. “They loaned her a car when she was in town, and my boss, Mark Leroeye, looked at my children. He says, ‘Are you going to miss your dad?’ They say, ‘Yes.’ He goes, ‘What’s he going to do without you guys around?’ Immediately, they said, ‘Golf.’” Mark asked, “How often does he golf?” His son replied, “Every day.” When Mark told Ted what his son said, he replied to Mark, “Yes I do. I try to get out to the range at lunch and get in some practice.” He, of course, was worried that his kids had given his boss the wrong impression of his own work ethic. “Instead, Mark said, ‘As long as you’re hitting your targets and getting the job done, I won’t worry about what you do with your time outside the office.’ He had 100 percent trust in me, and that’s always stuck with me.”

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“Kia earns multiple awards for its product quality” - New York Daily News

“Kia just accomplished something no automaker has done in 27 years” - CNBC

“Kia ranked highest” - The Globe and Mail

See what everyone’s talking about at kia.ca/topquality

We’re delighted to announce that for the first time in 27 years, a non-luxury brand has achieved top quality scores in a major U.S. study. Kia Canada would like to thank our dealers, employees, families and especially our customers for your support and admiration. Your satisfaction is always our number one priority. To see our whole lineup of vehicles, visit kia.ca. Kia is a trademark of Kia Motors Corporation.


MADE FOR [ TOP QUALITY ]

2016

“Highest Ranked Compact Multi-Purpose Vehicle in Initial Quality in the U.S., Two Years in a Row”

2017

“Highest Ranked Small SUV in Initial Quality in the U.S.” For the 2016 Sportage

A recent J.D. Power study in Initial Quality awarded the 2016 Kia Soul top honours for the second year in a row among all compact multi-purpose vehicles, while the 2016 Kia Sportage also took top spot among all small SUVs. More than ever, Kia is committed to building high-quality vehicles and maintaining an unsurpassed level of excellence in order to offer you the power to surprise. Visit kia.ca/topquality to learn more about our award-winning lineup. The 2016 Kia Soul and Sportage received the lowest number of problems per 100 vehicles among compact MPVs and small SUVs, respectively, in the J.D. Power 2016 U.S. Initial Quality Study. 2016 study based on 80,157 total responses, evaluating 245 models, and measures the opinions of new 2016 vehicle owners after 90 days of ownership, surveyed in February-May 2016. Your experiences may vary. Visit jdpower.com. Kia is a trademark of Kia Motors Corporation.


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Life in the Carpool Lane

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Jim Fry ensures that all departments are along for the ride at YRC when it comes to updating the company on changes to the law by Joe Dyton

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While Jim Fry ’s main responsibility to YRC Worldwide is to protect the company and mitigate risk, it’s not where his job duties end—it’s where they begin. Fry, the vice president of general counsel and secretary for YRC Worldwide, one of the world’s largest transportation services, oversees compliance with all laws, rules, and regulations. While he’s excelled in this legal function with the company, it’s also his mission to continue to improve on the company’s communication strategies. This mission includes playing liaison between his legal department and the rest of the departments in the company to ensure everyone’s on board with what needs to be done when any notable industry changes occur. “We could just say, ‘Hey, here’s a new law; you need to comply with this,’” Fry says. “But I think it’s also our job to work together with operations and the other departments affected to determine the best approach, what’s going to make it an easier transition, and how to communicate it. I don’t look at my department as just disseminating information, but actively participating in its implementation and determining how it will impact operations and the company on a go-forward basis.” The ability to play a part in YRC Worldwide’s business and communication strategy is part of the reason he became an in-house general counsel and joined the company in the first place. Fry worked in private practice for a decade before transitioning to in-house. The switch not only gave him a better work/ life balance, but he also got the chance to be part of a company’s decision-making process and not just another legal resource. “When you are in private practice, you focus more on legal advocacy and legal procedure,” Fry says. “That is not to say that you don’t focus on this in an in-house role, you just develop a more global business approach to how you address and handle matters, and you have to be cognizant of how your

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JIM FRY VP, General Counsel, Secretary YRC Worldwide Overland Park, KS

decisions may affect more than just one area of the business. You must consider both the legal and business impact and consider the totality of the circumstances within your operational environment. You are not just a lawyer; you are a company representative.” There are a lot of decisions to be made in that process that Fry is a part of every day. One moment he may have to decide how much money should be spent on an issue, and in the next how aggressively or conservatively to pursue something—or even how much time should be dedicated to a project. Whatever Fry and his team decide on any given issue, one of the big factors is always what kind of impact the decision will have on YRC Worldwide. “Cost isn’t the only determining factor in decision-making,” Fry says. “You have to look at cost also in conjunction with the gravity of the issue and whether it requires a more passive or aggressive approach. If it’s an issue that is going to have a more global, permanent, or industry-wide impact, then yes, I’m going to spend more time and money and be a lot more aggressive in my approach. It is no different than a business analysis or decision when you consider return on investment.” When it comes to the company’s communication strategies that Fry values so much, YRC Worldwide does a thorough job making sure everyone who needs to know something does. Whenever there’s a new law, policy, or procedure change to announce, the legal team will talk with higher-ups in the organization to determine how the announcement should be communicated, who should receive the announcement, and what would be the most effective medium to get the word out— whether that’s an in-person meeting or a webcast for a company-wide announcement. Webcasts are also stored in an electronic library, so that employees can go back and re-listen at any time for reference or to refresh their memories. For Fry, perhaps the only thing more important than communicating legislative


GAI N I NG TRACTION

C arr Allison congratulates our long-time friend and YRC General Counsel

Jim Fry for his achievements and recognition. We are proud to be a

“I don’t want the legal department to be viewed as a necessary evil . . . I want to be viewed as a business partner.” changes with the law is staying on top of them in the first place. Fry and his team keep up with changes in current case law and government regulations with continuing education, including attending seminars and industry conferences, as well as reading publications like Law 360. YRC Worldwide also works with outside counsel throughout the country who will alert it of any new case developments that could impact its industry, employees, or how it operates. “We have a lot of different avenues, and we definitely have to keep on top of everything,” Fry says. As a general counsel, Fry has learned that while it’s important to have an effective legal department, it’s just as imperative to have that department effectively work with different parts of the company and help them understand changes though an effective communication.

part of his national legal team.

“We don’t work in a vacuum and only look at things purely from a legal perspective,” Fry says. “The legal department keeps an open line of communication with all departments of the company. Instead of just unilaterally and without explanation or education implementing policies, procedures, or change, we work with individuals and departments to determine impact, understand their prospective, and work together to find mutually acceptable solutions within an established legal framework. I don’t want the legal department to be viewed as a necessary evil or an impediment to business operations. I want to be viewed as a business partner that is there to facilitate creative solutions.”

A L A B A M A | F LO R IDA | M IS SISSIPPI | T E N N E S SE E

www.carrallison.com

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Leadership is inspiring

Leaders engage us, allow us to take chances, unite our voices, and transform our ideas into actions. Wells Fargo thanks Sean Bagan, vice president of finance and treasurer at Polaris, for the example he sets and for the partnership we enjoy. We’re honored to work with Polaris as a valued client and wish Sean continued success.

Š 2016 Wells Fargo Bank, N.A. All rights reserved. WCS-3176608


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In the high-octane battle to capture the hearts and wallets of powersports enthusiasts, Polaris Industries is turning heads and gaining ground by Zach Baliva

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In August 2016, Evergreen Bank and Polaris Industries, Inc. sent out a joint press release detailing the launch of a new lending division focused solely on Polaris products. It was a simple 250-word announcement, but for Polaris, the document signaled a new era. In forming the partnership and creating the division known as Performance Finance, the global power-sports and motorcycle company put competitors on notice: Polaris is revving up. Edgar Hetteen, widely regarded as the “father of the snowmobile,” cofounded Polaris with his brother, Allan, and friend, David Johnson, in 1954. Today, the publicly traded, Minnesota-based company has 8,000 employees, seventeen manufacturing locations, and five R&D centers. The company and its 3,500 dealers sell more than 350,000 units in more than one hundred countries. Some of its products include snowmobiles, off-road vehicles, electric cars (Global Electric Motorcars), three-wheeled Slingshot roadsters, military vehicles, and Polaris’s fastestgrowing segment: motorcycles. The spike in motorcycle sales is a relatively new trend, and one that Sean Bagan has seen firsthand. Bagan, Polaris’s vice president of finance and treasurer, left an audit and business-advisory role at Arthur Andersen to join Polaris Industries in 2000. He’s had a dozen jobs with the company in both finance and international sales, including a three-year foreign assignment to run Polaris’s United Kingdom subsidiary. The combination, he says, makes him a well-rounded treasurer. “I’ve had a good view of the organization, which has allowed me to think holistically. It’s very important for a treasurer to really understand the structure and goals of his or her organization,” Bagan explains. When he joined Polaris, the company generated roughly $1 billion in revenue. Eleven years later, revenues doubled. After another year, the annual figure climbed to more than $3 billion. Today, it is approaching $5 billion. During that rapid ascent, Bagan and other leaders started to notice something: motorcycle sales represented an increasing portion of those annual sums. The news didn’t shock industry insiders. Polaris made waves in 2011 by acquiring the famed Indian motorcycle brand. Converting Harley-Davidson fans to Indian or other Polaris brands, however, has been a bit of a David-versus-Goliath battle.

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Sean Bagan, Polaris Industries’ VP of finance and treasurer, once toured six continents in a twelve-month period as the power-sports company’s director of international operations. In more than sixteen years, his duties at Polaris have taken him to more than twenty countries. The married father of three enjoys sports and coaching youth teams.

Polaris sells to a dealer network, which in turn sells motorcycles to consumers. Therefore, ease and availability of financing drives purchasing decisions. Harley-Davidson had its own captive-finance company, while Polaris did not. “We didn’t want to copy what our biggest competitor was doing, but we did want to find a solution that would work for us,” Bagan says. “We needed to find a more effective way to compete.” For Polaris, Performance Finance is that solution. Bagan refused to propose a captive finance company because operating as a bank would hinder the company’s ability to achieve its strategic objectives. “We’re not a bank; we’re a power-sports company,” he explains. “Our vision is to become a highly profitable, $8 billion enterprise by 2020. We will do that by focusing on the customer and reinvesting a portion of our profits into making the best and most innovative products in the industry.” Competitors with captive-finance companies generate more than half of their earnings from financing. Bagan wanted to free Polaris to use its capital in other ways. By implementing the more risk-averse solution and partnering with a bank such as Evergreen, Polaris has been able to maintain its strong balance sheet and operating cash flow. Instead of building a captive infrastructure, hiring new teams, and developing specific expertise, Polaris’s employees and dealer partners can focus on giving buyers the best products and customer service. With the course set, Bagan and others at Polaris set out to find the right banking partner. After months of research, they settled on Evergreen Bank. The institution provides full-service banking in Illinois and comprehensive motorsports financing through a loan-production office in Reno, Nevada. “We picked Evergreen because they are the best at financing motorcycles. They do everything quickly, they’re almost always open, and


GAI N I NG TRACTION

Reducing Risk, Improving the Bottom Line

SEAN BAGAN VP of Finance, Treasurer Polaris Industries Medina, MN

they use electronic loan document imaging,” Bagan says. While Polaris values its other banking partners, the new arrangement introduces new choices for dealers and consumers. “Original equipment manufacturers aligning with banks makes sense because it allows us to get closer to the consumer and control their buying experience a little better,” Bagan says. His finance team will review and optimize Performance Finance in 2017 after working out bugs and tracking metrics in 2016. They saw more than a 50 percent increase in loan applications just weeks after launching Performance Finance. The launch required some heavy lifting. Bagan, finance, and other internal Polaris teams created brand names and taglines, organized related infrastructure, developed dealer trainings, established finance programs, and implemented new systems and websites. The exercise demonstrated the full impact a team-oriented treasurer can make on an organization. “The treasury team needs to be more than tactical. It needs to be strategic, too,” Bagan says. “We can add value by helping chart the right path forward, and if we do that better than our competitors, then we help the entire company get where it wants to go.” Bagan traces his penchant for strategy back to his days as captain of his high school basketball team. Those contests taught him to maximize resources before time expires and to maneuver key players to win under pressure. With Performance Finance up and running, he’s tackling another goal. For revenue to reach $8 billion by 2020, Polaris will have to increase sales in foreign markets. In 2015, 22 percent of Polaris’s business occurred outside of the United States, with just 14 percent outside of North America. Bagan believes his team can help that figure climb above 30 percent—and eventually outpace Harley-Davidson’s 36 percent benchmark. Harley-Davidson isn’t going away, but Polaris appears to be gaining on the industry leader. Harley-Davidson’s sales are dropping. Polaris’s grew 67 percent in 2015. Can Bagan and his colleagues sustain recent successes? Only time will tell, but when it comes to the world of international motorcycle sales, an exciting challenger has emerged.

Arthur J. Gallagher would like to congratulate Sean Bagan Vice President, Finance & Treasurer, for his dedication to our client Polaris Industries Inc.

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Agnes Di Leonardi’s path to the top of the legal profession spans a legacy of volunteerism and auto market expertise that she’s invoking at Mazda Canada by Brian Barth

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Everything Agnes Di Leonardi learned in her life, however disconnected from the big picture it may have seemed at the time, eventually revealed itself as an asset in her career. The current general counsel at Mazda Canada Inc. started out in the social justice law program at the University of Windsor. “I wanted to do civil rights work and maybe become a family lawyer,” she says. “Ironically enough, the law school courses that I enjoyed the most were the corporate and commercial law courses.” Di Leonardi’s involvement in the automotive industry spans more than twenty years, and she has touched almost every aspect of it as a lawyer: finance, mergers and acquisitions, dealer networks, marketing, and brand management. She was with Ford in Canada during the high-rolling times of the early 1990s when it purchased everything from Aston Martin and Jaguar to a driving school and metals recycling company to control more of the vehicle life cycle. One of Ford’s acquisitions was Mazda, which was ultimately divested after the 20072008 financial meltdown. For Di Leonardi, this was an opening. Her contacts at Mazda knew the breadth of her legal experience and business acumen within the automotive industry, and leadership brought her on as Mazda’s first Canadian general counsel. “To me, it’s always been about continuous learning and asking, ‘What can I do next? What can I learn next?’ ” Di Leonardi asks. This omnivorous approach to corporate law has garnered Di Leonardi a reputation as a leader in the industry. At Ford, she was heavily involved in the Canadian Vehicle Manufacturers’ Association and, at Mazda, she currently represents the company in the Global Automakers of Canada, a national industry association—comprising fifteen automotive companies operating in the country—that advocates for sound public policy to support a competitive and sustainable automotive market in Canada. Mazda is by no means the biggest of these. “We’ve intentionally chosen to remain small, with a focus on building fewer cars of higher quality as a path to profitability,” Di Leonardi says, adding that this means

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asserting influence in the industry and in consumer markets, in innovative ways. One of the biggest challenges in recent years has been responding to tightening government regulations concerning greenhouse gas emissions. While most larger automotive manufacturers are investing heavily in hybrid and electric vehicle technology, Mazda is carving out its own niche by raising the bar on fuel economy in combustion engines with its leading edge SKYACTIV technology. In a prime example of how a general counsel must work to protect a company’s interests, Di Leonardi is working with the Global Automakers of Canada to lobby the government of Québec, which is considering legislation that would require all automotive manufacturers to offer or sell electric vehicles. While Mazda supports the mandate to reduce greenhouse gas emissions, Di Leonardi says, “Our position is you should set whatever target you want the manufacturers to meet and then let them achieve that through their own individual technology, whether that be hybrids, EVs, or more efficient combustion engines.” She points out that the infrastructure of recharging stations in Québec is currently inadequate to meet the proposed EV mandate, and there is not yet adequate consumer demand for the vehicles. The changing face of retailing in recent years is another potential disruptor that Mazda is working to navigate, especially if it were to accelerate—as some in the industry have predicted. “It’s something that all manufacturers are thinking about,” Di Leonardi says. “It’s a question of when, not if.

AGNES DI LEONARDI General Counsel Mazda Canada Richmond Hill, ON

“Our customer target market is car enthusiasts. They buy a car because they love to drive, not just to get from point A to point B.” Q2/17

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Leaders in Canadian Business law. Worldwide

STIKEMAN ELLIOTT LLP TORONTO MONTRÉAL OTTAWA CALGARY VANCOUVER NEW YORK LONDON SYDNEY

stikeman.com

Technology is reshaping consumers’ buying preferences. People more and more want to buy their vehicles online. They will go to the dealership to test drive the vehicle and pick up and service the vehicle, but they really do like the online convenience.” Rather than allow market forces to eat away at Mazda Canada’s 165 dealerships, all of which are independent businesses licensed through a sales-and-service agreement to sell Mazda products, the company is working to reignite its retail network. The focus is on customer experience and finding new ways to add value through dealerships. Mazda Canada has a partnership with the Disney Institute to develop a customer service framework geared toward creating a retail experience that connects with the consumer’s interests. “Our customer target market is car enthusiasts,” she says. “They buy a car because they love to drive, not just to get from point A to point B. Our Mazda Canada customer experience framework speaks to that by creating that exhilaration.” Di Leonardi has a role in all of this as an executive-level steward of Mazda’s global philosophy of “Driving Matters.” The secret to the company’s success, she says, is bringing together customer experience with a great product. “We call that brand value management,” she explains. While Di Leonardi is an expert in all legal matters related to the automotive industry, her higher expertise is in corporate leadership inside the company and in how she represents Mazda externally. And that’s where all of those diverse skills she’s picked up on her circuitous path come into play. Di Leonardi’s early interest in social justice didn’t manifest in becoming a family law lawyer, but it has led her to pursue community involvement and volunteerism in many forms over the years. From speaking at leadership conferences to fundraising for charitable organizations such as the Toronto YWCA to helping build the International Women’s Forum presence in Toronto and the rest of Canada, these experiences have fed her professional career. For example, when she was eyeing a promotion to her first executive managerial role at Ford, she didn’t have prior experience overseeing staff. Yet, she had held a long list of leadership positions on nonprofit boards and

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The Numbers on Agnes Di Leonardi Are All Ones • 1st-generation Canadian— her Italian parents came through Nova Scotia’s Pier 21 in the 1950s • 1st woman in her family to attain university education—a degree in business from York University and a law degree from the University of Windsor • 1st Canadian general counsel for Mazda Canada • 1 of the top 100 most influential general counsels in Canada, according to the “Legal 500 GC Powerlist”

in internal company initiatives, such as Ford’s Woman’s Advisory Council. “Leadership is about influence; it’s being able to persuade people,” Di Leonardi says. “And volunteerism is a great way to hone your leadership skills.” The women’s council she helmed was well-respected within the company, and it led to an improvement in vehicle sales under her tenure—a fact that did not go unnoticed among company leadership. She got the job. “At times, I’ve taken opportunities that other people probably wouldn’t have thought were strategic from a career perspective,” she says. “I guess you could say my career path has been the road less traveled.”


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Right-of-Way Laws

U-Haul’s accident defense attorney Holly Doyle takes information gathered from collisions and turns it into product improvements and better rental experiences

by Russ Klettke

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Beyond the jokes that (unfairly) malign lawyers, the practice of law provides an orderly way of conducting business. For example, contracts ensure that deals are maintained as negotiated, while litigation is a process for resolving disputes. Attorney Holly Doyle oversees the legal processes for U-Haul International whenever one of its hundreds of thousands of vehicles is involved in a serious accident—which, thankfully, is relatively infrequent. But with more than 130,000 trucks and another 140,000 trailers and towing devices operating in the company’s fleet, it’s a statistical certainty that there will be mishaps. But Doyle deftly handles those processes and wrests beneficial change from calamity. As assistant general counsel for serious injury and wrongful death truck litigation, she sees her share of unfortunate cases that involve both human suffering and costly outcomes. Beyond the unpleasant but necessary task of sorting through the post-accident implications for the company and its customers, Doyle’s work achieves something quite proactive and important: she advises senior management on ways to reduce accidents altogether. “There are takeaways from lawsuits,” Doyle explains. “Litigation gives us perspective. It creates an opportunity to provide feedback to management and to the business units.” Doyle provides the example of tweaking user instructions. She says adjusting language and illustrations in customer-facing materials in vehicles can prevent future accidents. “For example, we improved the language on a decal that explains the use of latches on cargo doors,” she explains. “If the latch is not properly deployed, the door could get stuck in the open position. When users tried to improperly fix it, they could experience injuries and wasted time.” Injuries in those instances might not be life-threatening, but they are certainly not what anyone wants. “Our goal is to make sure customers have a great experience with U-Haul,” she says.

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“Litigation gives us perspective. It creates an opportunity to provide feedback to management and to the business units.” In the event of a serious injury or death— less than 1 percent of roughly fourteen million rental transactions each year involve bodily injury—Doyle and her network of paralegals, outside counsel, engineers, photographers, and adjusters go to work. The forensics of vehicular accidents is susceptible to compromise if evidence such as vehicles or photography isn’t gathered quickly. (Think highway skid marks that might get washed away from a hard rain or heavy traffic.) “We try to gather all evidence within hours if possible,” she says. How they do that and with whom varies based on the nature and location of the incident. In addition, technical knowledge such as that held by engineers might be necessary if a mechanical malfunction is in question. “In most instances, the cause is driver error, which is a testament to the quality of our vehicle maintenance program,” Doyle says. Road conditions, including pavement or lights and barriers used around road construction, are sometimes in play. Also, driving while texting can play a role. Doyle

might send a preservation request letter to different drivers’ cell phone carriers should usage records become necessary in later legal proceedings. “Every telecom carrier’s system is different, and it’s hard to decipher some of those records,” she says, which hints at the complexity of her job. Another complexity is how traffic laws and those they assign fault and liability in an accident differ from state to state. In some places, only one party bears full responsibility for the accident, while elsewhere fault can be allocated to more than one driver if two or more drivers were doing something wrong. “I keep a chart above my desk on state negligence laws,” she says. The mosaic of these state laws is overlaid with variables in traffic, weather conditions, and people behind the wheel involved in every accident. The human element in particular is one of great variation, though behaviors do fall into patterns. If there ever was an accident attorney with task-specific experience to deal with this, it’s Doyle. Her own father worked in insurance,


GAI N I NG TRACTION

HOLLY DOYLE Assistant General Counsel U-Haul International, Inc. Phoenix, AZ

and she professed at an early age—middle school, her parents tell her—that she wanted to work as a defense attorney. However, she took a detour after college that postponed law school at Syracuse University College of Law, which probably made her much stronger in this role. For three years, Doyle worked as an insurance claims adjuster. She was the person who spoke on the phone with claimants to hear the details of their accidents, to gather documentation of expenses, and to offer settlements. She learned that human experience is subjective and that it was important to be objective and fair throughout the process. Also, when money is involved, the truth gets murky. “My job was to question everything, which takes good communications skills,” she recalls. “When interacting with stressed people, you develop good communications skills. You learn over time there are two sides to every story.” She also enjoys the job because she says there’s never a dull day. That likely will not change given the next big thing looming on the horizon: driverless vehicles. The effects of that innovation will certainly mean big things for a company like U-Haul. “The industry hasn’t taken a position on driverless vehicles yet,” she says. “I find it fascinating. There are so many different possible scenarios. It could raise the cost of vehicles. But the industry is always striving for safety, and the technology might reduce the number of injuries, although complete safety is hard to imagine.” Doyle’s cautious skepticism is probably informed by her years as a claims adjuster— and could ultimately translate into safer roads for everyone.

Alston & Bird and Jim Evans congratulate Holly Doyle for her exceptional career achievements at U-Haul International. We greatly value our partnership with U-Haul, and the opportunity to provide legal services to this industry leader and its outstanding team of in-house lawyers. For more information on all of Alston & Bird’s services, please visit alston.com.

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832 Preparer Use Only

I declare that I have examined this return. Declaration of preparer is based on all information of which preparer has any knowledge.

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Beyond the

Calculator

You won’t find these three tax executives in a backroom, crunching numbers.

They’re on the front lines, positioning their enterprises for tremendous growth.

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17 Tell us about your business. If a question does NOT apply to your business, leave it blank.

Name

The Tax-

of-All-Trades

Man

David Hasson ID

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may be BorgWarner’s tax leader, but his role extends far beyond the numbers


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17 Tell us about your business. If a question does NOT apply to your business, leave it blank.

By Dan Caffrey

David Hasson VP Tax

David Yarnall

BorgWarner Auburn Hills, MI Some say it may have been fate that David Hasson ended up in the automotive industry. “I grew up in a small town, the most southern town in Canada,” he recalls about Kingsville, Ontario. “It was thirty miles south of Windsor, which is just one mile to Detroit. From about age fourteen on, I couldn’t wait to get a driver’s license, so I could get out of the town and go to a city occasionally. You grow up with a car niche in your DNA.”

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17 Tell us about your business.

A welldeserved tribute. We are proud to salute you!

Such close prox“I grew up in a small imity to the Motor City—and the romantown, the most southern ticism of automobiles town in Canada . . . that comes with it—would inform You grow up with a car Hasson’s career. Even before he landed niche in your DNA.” his current role as vice president of tax at BorgWarner—a global leader in clean and efficient technology solutions classes for senior managers and partfor combustion, hybrid, and electric ners on accounting and tax. vehicles—Hasson spent six years as The self-taught education in worldliness would serve him well, the vice president of international tax especially from 1991 to 2000, when planning and audits at TE Connectivity Ltd. (formerly Tyco Electronics Inc.). he accepted the position of manager “Forty percent of its business was also of global tax and treasury at General in the auto industry,” Hasson explains. Electric (GE). “On my first day, my boss—who was the CFO—said, ‘Did Similar to BorgWarner, Hasson says it sells to every major car maker on the they tell you you’d be responsible for planet. In other words, it would appear treasury?’ ” Hasson recalls. “I said, that cars and taxes are in his blood. ‘Not really,’ and they said, ‘Well yeah, Nonetheless, those are just two you are.’ And I said, ‘Well, I really don’t examples of a variety of positions and have a lot of experience.’ Then he said, general life experiences that Hasson ‘You’ll learn quickly.’ ” has held over the years. True to his One of Hasson’s major responsigoal, he eventually left his small town bilities was managing the company’s and started living, working, and learnforeign currency exposure, a coming in everywhere from Toronto and plicated task that involved creating a global billing system. Until then, Philadelphia to Chicago and Auburn Hills, Michigan, where BorgWarner GE’s three manufacturers—stationed is headquartered. The journey hasn’t in the United States, France, and always been a conventional one either. Japan—had to charge their affiliates in Surprisingly, there was a time when dollars, francs (before the euro went the realm of taxes was far from being into circulation), and yen, though the his strong suit. Hasson recalls strugproducts were being distributed to gling with the subject while earning countries all over the world. However, his bachelor of commerce from the once Hasson’s system was in place, it University of Windsor. “The last exam gave the manufacturers the ability to bill in multiple currencies at once. I took in college was my tax exam,” he says. “It was the only C I got.” But he Although it was complex, Hasson wasn’t deterred; quite the opposite, looks back on the project as a trial by actually. “I decided to tackle somefire that gave him the tools needed thing I feared, so I went into the tax for his current position at BorgWarworld and became successful at it.” ner. When he was brought on in 2013 After building up his adeptness to fill the inaugural vice president of with taxes, he received offers from tax role, he was tasked with reshapfour big accounting firms—Priceing the department and improving its waterhouseCoopers (PwC), Deloitte overall health. He purposely started Touche Tohmatsu, Ernst & Young, his new job in early January 2013, which allowed him to observe the and KPMG—and ended up going with year-end close process and make an PwC, where he served as international initial assessment of the tax team. tax manager from 1988 to 1991. The Then came the interviews with position gave him considerable skills every member of the department, in the international tax arena—skills thus giving him insight into what that he supplemented by teaching

KPMG LLP congratulates David Hasson on his distinguished career. We are proud to work with him and the BorgWarner team. kpmg.com

© 2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in the U.S.A. The KPMG name and logo are registered trademarks or trademarks of KPMG International. NDPPS 568573

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SIDLEY IS PRIVILEGED TO HAVE PARTNERED WITH

David Hasson

Vice President, Tax at BorgWarner ON MANY IMPORTANT MATTERS We thank David for sharing his talents with our firm. TALENT. TEAMWORK. RESULTS.

MOST FIRST-TIER NATIONAL RANKINGS SIX YEARS IN A ROW – U.S. NEWS – BEST LAWYERS® “BEST LAW FIRMS” SURVEY

sidley.com

AMERICA • ASIA PACIFIC • EUROPE Attorney Advertising - Sidley Austin LLP, One South Dearborn, Chicago, IL 60603. +1 312 853 7000. Prior results do not guarantee a similar outcome. MN-4142


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was working well and what could be improved. It’s an annual process that he enjoys to this day, and it has resulted in the incorporation of additional skills to his department needed to be successful and foster growth. But Hasson recognizes that, in a way, his role at BorgWarner goes beyond finance as it has a direct effect on the development of the company’s environmentally friendly technologies. “I didn’t have an appreciation for the kind of products we made before I got here,” he says. In fact, Hasson played a significant role in facilitating the $1.3 billion acquisition of Remy. The buyout took place in fall of 2015 and is already proving to be another leap forward in the company’s electric-motor development. The collaboration has also successfully integrated Remy’s expertise in electrical systems with BorgWarner ’s industry-leading mechanical and manufacturing capabilities, creating a momentum behind an array of new electrified products. The acquisition of Remy and emphasis on electrification has inspired Hasson to stay informed about all aspects of the company, not just the ones directly related to finance. Simply put, he believes it helps him do his job to the best of his ability. For instance, he often asks to sit in on board meetings that include product updates, though he’s not required. As Hasson has proven, working in taxes isn’t just about finance; it can also be about facilitating innovations that help reduce vehicle emissions, even if he doesn’t think most people will be driving electric cars anytime soon. Then again, never say never. With minds like Hasson’s at the company, who knows what’s in store for the future?

TRANSPARENCY. CONFIDENCE. TRUST. Some things can’t be bought, sold or traded. Clients have relied on Duff & Phelps to help protect these fundamental ideals for nearly a century. We deliver objective advice in the areas of valuation, dispute consulting, M&A, restructuring, and compliance and regulatory consulting. Balancing proven technical skills with deep industry expertise, we help our clients address their most complex financial and business needs. Learn more at www.duffandphelps.com

“Congratulations to David Hasson on his well-deserved recognition as a top tax executive. Duff & Phelps is proud of our relationship with BorgWarner, providing valuation and corporate finance advice to support their continued growth and success.”

Duff & Phelps congratulates David Hasson on all of his accomplishments at BorgWarner.

“KPMG congratulates David Hasson on this well-deserved honor. We are proud of our long-standing relationship with David and BorgWarner. We are grateful for the opportunity to be part of their success.”

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17 Tell us about your deposit schedule and tax liability for this quarter.

Name

Tax Your

Brain

Vince Inendino

puzzles out the best tax structure and team dynamic to map out capital gains for

ID

TransUnion

By David Baez Taxes might not be considered the most dynamic department, but the work that happens inside these walls is important in helping any company manage its finances, set short- and long-term goals, and help align progressive strategies. At TransUnion, one of the big three credit-reporting companies, this responsibility falls on vice president of tax Vince Inendino and his team of tax experts.

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LOEB & LOEB LLP

17 Tell us about your deposit schedule and tax liability for this quarter.

salutes our client and friend

Vince Inendino for his continued success and accomplishments as Vice President, Tax at TransUnion.

“Typically, we’re looking at tax planning structure and staying current with tax changes in all of the countries where we operVince Inendino ate,” Inendino says. TransUnion is best VP Tax known for providing credit TransUnion reports, but it also offers predictive analytics based Chicago, IL on its data. The organization incorporates the information services business in the United States, the consumer interactive business, and an international arm extending to more than thirty countries worldwide. In recent years, all three branches have been growconsideration when looking at candiing revenue and earnings in double dates. “One of the things I’ve learned digits, both organically and through is that you don’t want everybody who acquisitions. thinks the same way, or you’ll have At the same time, the importance of blind spots,” he says. “I wanted people the tax department has evolved apace. who could work together, but also learn from each other. If one person Inendino, who joined the company in has a certain skill set and another 2012, is the first vice president of tax person has a different one, we can solely dedicated to the tax function. “Before I got here, the tax function was deliver a broader competency to the doing the basics well—compliance, company. The tax technical element is reporting, filling out returns—but a given in any position we hire for, but there wasn’t as much involvement in then you’re looking for their growth planning,” Inendino says. “I’ve continpotential and a track record of being ued to improve all those basic things, able to learn quickly.” but also evolve the company’s underIt’s no surprise that tax executives standing in the planning areas.” may also have the reputation for only As TransUnion has evolved from a sitting in an office crunching numprivately held company to a public one bers. But for Inendino, that’s not the with deeper international presence, main draw or what keeps him at the Inendino and his team work with the job. “I love this job because I find it intellectually stimulating,” he says. treasury and legal departments daily to ensure that all of the businesses’ “It’s an area where you can see all the entities are meeting requirements. different parts of the business, interAnother effort that Inendino has act with a lot of different people, and taken on is with the department’s also add value to the company. It has team. “Our goal was to increase colits own issues and frustrations for sure, but tedium takes a toll on me, laboration among the team,” he says. “We stress more working together and it is never tedious.” now as opposed to having separate silos in the department. Part of my “In business, it’s important to find role when I got here was [figuring out] people you can count on. Vince’s extenhow to raise the bar for the team.” sive knowledge and enthusiasm for his Inendino needed a team that could work contributes to TransUnion’s continued success. It’s been a privilege to reach as high as he would set that serve as his trusted advisor over the bar. He has grown the team and says years.” —Ross D. Emmerman, Partner, Loeb & Loeb LLP that he took a number of factors into

We are proud to partner with an industry leader and look forward to collaborating with TransUnion for many years to come.

www.loeb.com

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Stitch

Name

Count

Supportive relationships and interesting challenges are constants for Urban Outfitters chief tax officer career Kirsten Comley’s

ID

By Amanda Garcia

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Kirsten Comley spent the first seven years of her career falling in love with public accounting. The variety of issues and clients kept her constantly challenged and curious, but eventually, she was ready to take on a new goal. While browsing job listings one evening, Comley came across an opportunity for a generalist tax manager at URBN, the umbrella company for the Urban Outfitters, Anthropologie, Free People, BHLDN, Terrain,


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track everything that’s “We consider all aspects happening from Capof the business, we itol Hill to the rest of the world,” she says. always stay on the side “And it’s my job to assess how all of that of legal and compliance, will impact what the business wants to do.” but we also don’t Beyond taxes and tax law, Comley’s next believe that there’s objective is to partonly one answer.” ner with the business any way she can. This means never saying “no” to a business idea without asking all the right questions and assessing the possibilities from every angle. “We investigate to keep Kirsten Comley Chief Tax Officer Urban Outfitters Philadelphia, PA

Erica Thostesen

and Vetri Family brands. At the time, URBN didn’t have its own tax department but was hoping to cultivate one, and Comley wanted to know if she had what it took. She applied, and in September 2000, she was offered a position on URBN’s finance team. When Comley first joined URBN, Urban Outfitters had forty stores, Anthropologie had twenty-four, and the Free People brand didn’t yet exist. She was the only tax expert on staff. But the company was poised for growth, and Comley knew the tax team was going to need to grow along with it. “We had to find people who wanted to work in an exciting company and be challenged every day,” says Comley, who expanded the tax team to five members by 2010 and was promoted to chief tax officer in 2015. In the ensuing years, yet another layer of complexity was added with technology, mobility, and regulations coming from both the IRS and foreign jurisdictions. These additional issues prompted Comley to hire experts in subject matters such as transfer pricing, state and local tax, and accounting for income taxes in financial statements. Today, URBN’s tax team has expanded to thirteen (including Comley), the company has stores in nearly a dozen different countries, and Urban Outfitters and Anthropologie have more than 200 stores each. Comley’s primary role remains overseeing the responsibilities of the tax team—everything from transactions to planning to reporting to compliance—and business licensing. She also manages their time and workload, as well as the expectations of the business partners they’re serving. Another of Comley’s key functions is in serving as advisor to URBN’s executive leadership and, in particular, its CFO, to whom she brings her global tax perspective to new ideas and business ventures. It’s a demanding job, especially considering the highly volatile global tax situation, intense demands for corporate tax transparency (particularly in Europe, where most of URBN’s international business is located), and a renewed focus on United States tax reform. “I


You start by listening In times like these, knowing where to start the conversation in helping to address complex issues is vital. So, there is a process to everything we do and it starts with listening and identifying the right questions. Knowing where to start and what to ask comes from experience and discipline of thought. This is just the beginning of what we provide to our clients. Through our global network of firms with more than 208,000 people in 157 countries, we provide quality assurance, tax and advisory services to many of the world’s most successful companies. Tell us what challenges you are facing or find out more by visiting us at www.pwc.com

Š 2016 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.


832 LEADING TAX DEPARTMENTS FORWARD

us from having tax tunnel vision,” she says. “We consider all aspects of the business, we always stay on the side of legal and compliance, but we also don’t believe that there’s only one answer.” This open-minded, team-oriented approach to leading at the executive level has proven successful for Comley in many ways. As one of several direct reports to the CFO, she values her position as a leader of URBN’s finance organization as a whole. She works closely with the global controller and other leaders of URBN’s various finance groups to develop seamless communication across the organization. “Our aim is constant improvement in our groups, and we depend on each other for that,” she says. “Relationships are key as we share information and function as one large finance organization.” Relationships are also essential as Comley leads her tax team; everything revolves around communication. Clarifying expectations among team members is crucial—as is clarifying her own expectations for top-quality work. “I am very passionate about taxes, and I can say the same for everyone on our tax team,” Comley says. “That shared passion puts us on an equal playing field because we all want to find the best answer.” Of course, finding the best answer requires the tools necessary to do so, which Comley provides by way of access to people within the business, as well as technical development opportunities outside the company. And like any leader who demands excellence from her team, Comley insists on the same level of quality for herself. “I like to push people outside their professional tax comfort zone to get them out into the business to learn as much as they can about different areas,” she explains. This diverse exposure has developed a tax team of well-rounded businesspeople who have a continuous desire to learn.

Global Tax Management congratulates

Kirsten Comely and shares her passion for advancing and automating tax functions to better serve the overall business.

» Tax Provision » Income Tax Compliance » Indirect Tax » Tax Automation » Tax Planning & Minimization

www.gtmtax.com

17 May we speak with your third-party designee?

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It has also culminated into a strong, supportive team environment—and on top of that, they like each other. “We invest in bonding and team building experiences,” she says. “Everything from lunches to happy hours to special outings are opportunities for us to get to know each other better and learn to work more effectively together.” As a tax professional, Comley has the unique experience of having worked in an industry that is constantly evolving all the time. “URBN brands are accustomed to constant change in technology, customer preference and expectations, and fashion itself,” she says. “And because the people managing our brands pivot on a daily basis, we have to do the same.” Sometimes this can mean getting a call about launching a new project in one country and, three days later, getting another call to cancel that project and start a new one in a different country. “It’s a lot of picking up and putting down, and there’s a lot of risk involved,” she says. “But it’s amazing.” Early on in her career at URBN, Comley noticed that risks were a normal function of work at the company because everyone acted as their own entrepreneur. When she realized that her background had perfectly prepared her to take those kinds of risks, it gave her confidence and solidified her passion for the organization. Not only that, creativity was—and is—paramount and a highly valued and protected entity at the company. There is no limit to ways in which a team member might contribute. The combination of all these factors has created the infectious, inspirational energy that not only defines everything that URBN does, but is also the root of Comley’s passion. It’s this same passion that continues to drive Comley’s work and leadership and continues to grow alongside the enterprise, the team, and the endless list of opportunities along the way.


C U LT U R E


C U LT U R E

Deb Deters CHRO HUB International Chicago, IL

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The Future of HR is Here The days of HR being responsible only for sick days and managing benefits are long gone. At HUB International, Deb Deters is using the latest digital solutions to help her department become an active business partner. Words by J E F F S I LV E R

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Photos by K R I S T I N D E I T R I C H

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To say HUB International has grown tremendously throughout the last several years would be an understatement. Much of that can be attributed to an aggressive mergers-and-acquisitions program that averages approximately forty acquisitions annually. For Deb Deters, chief human resources officer, this has amounted to onboarding up to about 1,000 people annually in recent years. It also includes everything from familiarizing new employees with the scope of their benefits and HUB’s technology infrastructure to showing new team members how to access and integrate data systems from their formerly independent brokerages to supporting employees in their efforts to provide the highest levels of customer service. On the surface, HUB International is an insurance brokerage that provides comprehensive property, casualty, risk management, life and health, employee benefits, investment, and wealth management products through 400 integrated brokerages throughout North America. At the same time, HUB’s HR department, along with the rest of the organization, is also addressing the ongoing digitization of its markets. “Customers buy differently than they used to,” Deters says. “We have to keep pace by broadening our reach with social media and digital marketing so we can do business with them in the ways they prefer. In HR, we have to do the same thing: communicate with employees in ways that they find to be the most meaningful and convenient.” To successfully take on that challenge, Deters has been leading HR technology initiatives that include three key solutions: Avature for applicant tracking, Kronos for time and attendance, and Workday for handling all aspects of the employee life cycle. She views technology as an important part of the company’s approach to onboarding and overall workforce management. “Technology solutions make us more proactive so that new employees can handle something like routine paperwork ahead of time. Instead of filling out forms, they can spend more of their first day with managers and learn about resources that will help them become productive faster,” Deters explains. HUB launched Avature in 2016 as its recruiting and tracking solution. The program now feeds data into Workday, which was launched at the beginning of this year. For new hires, Workday presents welcoming videos, the employee handbook, and general information about the company (including details about its community support through HUB Gives), as well as policies,

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Prior to joining HUB International, Deb Deters spent seventeen years with Bally Total Fitness, the largest operator in the fitness industry.


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provanthealth.com

“Technology solutions make us more proactive so that new employees can handle something like routine paperwork ahead of time.” D E B D ET E R S

applications, and an offer letter. By managing and delivering prepared informational packages, the technology presents a more consistent and satisfying experience for all incoming employees. Deters recalls a time when a similar solution rolled out seven years ago. “More than 96 percent of users were very satisfied with it,” she says. “The onboarding module is the one piece of software I never get complaints about.” HUB’s suite of HR technologies helps maintain an optimized balance between the centralized and decentralized components of its business. For instance, utilizing a single system throughout the company for payroll and onboarding is much more efficient than trying to coordinate different systems in each of its twenty-six regions. However, it also takes the organization’s decentralized approach to business into consideration. “It’s important to customize and support the ‘local feel’ of each office, since what works for employees in Manhattan will be different from what’s appropriate for employees in the middle of Montana,” she says. The new systems are expected to eliminate duplication of effort, reduce processing time by 50 percent, and increase data accuracy, because the same information, now visible company-wide, will no longer need to be entered manually by multiple departments. Deters believes significant time will also be saved by having Workday automatically update organizational charts. Furthermore, onboard processing time is projected to drop by about 40 percent.

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Another key benefit of the technology upgrade is the analytics capabilities provided by Workday. Human resources will be able to identify employees at risk for leaving the company and intervene with customized continuous education. The solutions will also be able to help identify regional employment trends and their causes, as well as assist with workforce planning during acquisitions to help determine needs for office space and identify local demographics. HR data will ultimately be used to help support the rest of the business by automatically feeding into the customer information and broker management systems. For example, as HUB continues to grow, Deters and HR will be able to make better informed workforce planning decisions about sales staffing and about how many service people are needed to support a particular book of business. “We could accomplish some direct business support before, but it was a very cumbersome process,” she says. “Now, we have the information at our fingertips and can easily use it to make very useful, practical decisions.” Plans are in the works to use the visibility made possible by analytics to assess performance across the enterprise. These results will help develop best practices based on the highest-performing locations and ultimately provide HR with a variety of approaches to help optimize the workforce. As the digital transformation continues and the current upgrades are completed, Deters continues to look for additional improvements and enhancements. For example, she points to the need for a unified document management system and the consolidation of three existing learning management systems. For her, the underlying theme is always trying to identify new capabilities that will help make the business more effective. “We’ll be looking at using analytics to advance the business, but also to help HR become a more active partner along the way,” she explains. “That’s the future of HR: helping fuel our success based on the extensive information and insights that we can share about our people.” “Congratulations to Deb Deters! We’re honored to partner with HUB International, a progressive company who is on the forefront of the workplace well-being movement,” Heather Provino, Provant CEO, says. “Employees thrive and companies flourish when a culture of well-being is built and supported. HUB International is truly an industry leader.”

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Provant partners with employers to build genuine cultures of well-being.

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Comprehensive well-being services delivered digitally and one-to-one.

Talk with us about our flexible, affordable personalized solutions. LET’S TALK.

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Great leaders inspire us Leaders engage us, allow us to take chances, unite our voices, and focus our ideas into action. Wells Fargo congratulates Rose Rogers, Vice President and Chief Human Resources Officer, Ducommun Incorporated, for her vision, leadership, and counsel in helping Ducommun leverage its core values of honesty, professionalism, respect, trust, and teamwork across its global workforce as it endeavors to become the leading provider of innovative electronics and structures solutions serving aerospace, defense, and industrial customers. Wells Fargo is proud to have played a role in Ducommun’s growth and success by providing innovative finance, insurance, and retirement solutions, and we are inspired by Rose’s dedication to maintaining a focus on culture amidst global growth. Your Wells Fargo relationship team offers its best wishes for your continued success. Insurance products and services are offered through Wells Fargo Insurance Services USA, Inc., a non-bank insurance agency affiliate of Wells Fargo & Company, and are underwritten by unaffiliated insurance companies. Some services require additional fees and may be offered directly through third-party providers. Banking and insurance decisions are made independently and do not influence each other. Investment and insurance products: NOT FDIC-INSURED • NO BANK GUARANTEE • MAY LOSE VALUE © 2016 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. WCS-3089227


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A COMPANY IS

ITS PEOPLE Ducommun’s Rose Rogers positions HR as a supply chain partner for improved on-time delivery, production, and profit By D AV I D L E V I N E

“In all honesty, a company is not the product—it’s the people,” Rose Rogers, vice president and chief human resources officer for Ducommun Inc., notes. Ducommun is a global provider of manufacturing and engineering services and electronic, engineered, and structural solutions for the aerospace, defense, industrial, natural resources, and medical markets. “The product meets the expectation, but leadership is the differentiator. That’s where you are able to exceed expectations.” Nowhere is this more evident than in Rogers’s work in positioning human resources as a partner in the company’s supply chain. Founded in 1849, Ducommun is the oldest company in California. Today, it builds products that go into the construction of other products, such as airplanes. “Any plane you have ever flown on, we did some of its structural components or electronics components,” Rogers says. That work puts Ducommun in the middle of some complex supply chains. Its electronics division, for example, once had more than 5,000 suppliers. That number is now less than fifty, the result of consolidated buys and partnering with providers. Human resources worked

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with operations management to define the restructure through innovative organizational development practices in order to find and train the right people to bring that partnership to life. “We spent all of last year hiring and developing our internal people who understood commodities buying. We developed people we had and brought in people we didn’t have,” Rogers explains. The results, she says, are improved on-time delivery, production, and profits. “Our customers now see our supply chain strategy and can trust us to deliver on it. It’s a win-win for everyone.” Rogers started her business career as a buyer in fashion retail, but soon transitioned to human resources. “I recognized that I had strong productivity when oriented toward people,” she says. “I considered myself a businessperson, but I recognized that people processes make a huge impact.” She began her HR career thirty years ago with Target. “I started at the bottom, which ended up being important,” Rose Rogers Rogers says. “That VP, CHRO fundamental trainDucommun, Inc. ing at an early age was one of the most Carson, CA important things to

Rose Rogers’s thirty years of HR experience includes time working for global manufacturing, service, retail, and high-tech companies.

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happen, because it gave me a foundation to work from.” Rogers then moved to a computer software company, followed by a marine supplier with international contracts. It was there where she learned how to handle variables such as visas and work transfers. At the same time, Rogers traveled around the world to visit the company’s 980 locations. “I really got a ton of growth and experience,” she explains. Her next stop, at a graphics technology company, came at a time in which the industry was undergoing massive consolidation. She was involved in twenty acquisitions and was promoted to a senior vice president position. “In a middle VP role, you execute a lot of strategy, but at the next level, you get the opportunity to be at the beginning of overall company strategy,” she says. When that company was acquired, she says she stumbled upon Ducommun and took a position as VP for one of its subsidiaries. “It was an opportunity to learn a new industry,” she says. Two years later, in 2008, Rogers was promoted to corporate VP and officer. Her most important task, she says, is to help the company build the human capital infrastructure to be aligned with every single business line. That process, which the company calls its Human Resources Review, includes looking into the organization where its own people are being developed, and aligning them to evolving corporate strategy in order to fill potential personnel gaps. “It requires visibility as to where we will be in one to five years, based on corporate strategy,” she says. It may mean identifying employees who will retire soon and will need to be replaced, finding candidates for its high-potential training program to help employees build their careers, fostering a mentoring program, or recruiting new talent on colleges and through internship programs. “We spend a lot of time on colleges to continue bringing in a highly talented, but not yet highly skilled, workforce,” she says with a laugh. “We can then turn them into highly skilled individuals.” She believes that effective leadership depends on effective communication. Leadership is meant to inspire people, she says, and to do that requires communication both upwards and downwards. People need to know what their goals are, what is expected of them, and why decisions are being made,

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“We spend a lot of time on colleges to continue bringing in a highly talented, but not yet highly skilled, workforce.” ROSE ROGERS

she contends. “We believe that using both the heart and the mind in decision-making is critical,” she says. “We believe in purpose-driven performance and transparency, so people know what is happening and why.” That requires high visibility among senior leaders. “I spend a lot of time in the plants to help develop middle managers,” she says. “It is very tactical. As a leader, the key point is to walk the talk.” The company’s success methodology, which it calls the Ducommun Way, focuses on “finding better ways of serving our customers through a combined focus on operational excellence, organizational development, and profitable growth.” That includes finding innovative solutions and new ways of growing—for both Ducommun’s customers and its employees. “In the end, it’s about results,” Rogers says. “We use all our decisions to drive the results we need.” We are One Wells Fargo. And, together, we all work for the customer. Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial financial services through 8,800 locations, 13,000 ATMs, online (wellsfargo.com), and mobile devices. So, whether you need commercial credit and treasury management products, employee benefits plans, risk management insurance coverage, or retirement investment options, we can tailor solutions that will fit your unique needs.

DEVELOPING WINNERS ON THE DIAMOND When she’s not developing a winning team at Ducommun, Rose Rogers helps develop a winning girls’ softball team as its pitching coach. She is most proud of the fact that more than eighty of her athletes have earned college scholarships— many of them the first in their family to attend college—to prestigious institutions such as Stanford, Brown, and the US Military Academy. Along with improving their softball skills, which have earned the team high national rankings, she teaches them how to be leaders. “You have to win in sports and in life,” she says. “And if you develop kids and prepare them to win, teach them the mental side of the game, you know what? They win.”


Look up

and you’ll See our Work

ONE DUCOMMUN:

Driving Innovative Solutions

Our team plays a critical role on the world’s most important commercial aircraft and military platforms. Our customers rely on high performance electronic and structural products built by our Ducommun team. We use our brain power to solve tough technical challenges and specialize in delivering innovative, value-added manufacturing solutions for our customers.

Find out what it’s like to work on a team that recognizes employees are critical to its success and growth. Ducommun offers competitive salaries, bonus potential and a complete benefits package.

Soar with us.

To see a complete listing of current openings, visit Careers at www.ducommun.com


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Helping A+E Help You Stacy Green and the global entertainment media company’s human resources team find new ways to reach employees and help them love what they do By J O E DY T O N

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Stacy Green EVP of Global Human Resources, Facilities A+E Networks New York, NY

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When Stacy Green joined A+E Networks in 2013, her mission was twofold and clear: help people be happy and successful at work, while changing the perception of the HR function as a whole. Green is the executive vice president of global human resources and facilities for A+E Networks, a global entertainment media company that reaches about 500 million people worldwide with six multiplatform brands, including History, Lifetime, LMN, FYI, and VICELAND. So what is her definition of HR’s role? Making sure the right people are in the right roles with the right inspiration. “That’s how I usually start a discussion about my role because I think it simply captures what HR leaders are passionate about every day,” Green says. Beginning her career as in-house tax counsel at Revlon allowed Green to build a foundation in HR specialty areas from a financial, legal, and policy perspective. After nearly a decade of supporting HR, she took the leap into leadership based on her conviction that the marriage of strategic business planning with the most inspired employees can have the greatest impact on a company’s success. Having found her calling, Green took her next HR opportunity in a field she had loved all her life: media. During the next five years at NBCUniversal (NBCU), Green felt fortunate to have played roles in several different aspects of the business, including NBC News, ad sales, and as an integral member of the team dedicated to Comcast’s acquisition of NBCU from GE. In fact, she credits her wide range of roles for giving her deep knowledge of the media industry, a factor she believes is critical in leading a successful HR function. “NBCU was a crash course in media and entertainment, as well as fantastic HR leadership,” Green says. “I am very grateful to the mentors I found at both Revlon and NBCU that helped me build a foundation of sound technical HR fundamentals, media business acumen, and strong leadership insights, and prepared me for my current role at A+E.” When Green started with A+E, the HR function was quite passionate and capable, but highly traditional. She wanted to help push it out of its comfort zone, with a more strategic, employee-centric, and creative approach. “As a career-change person, I have a really optimistic and fundamental feeling about HR,” she says. “I know HR as a function has some baggage, but at the same time, I see that as the greatest opportunity to impact and surprise people and to help change how people feel about the function, the company, their career, and their future.” It didn’t take long for Green to put her vision for what HR could be into play. Since she began in 2013, Green has established A+E’s benefits programs as an industry-leading competitive advantage, aligned compensation programs

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“I know HR as a function has some baggage, but at the same time, I see that as the greatest opportunity to impact and surprise people.” STACY G R E E N


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with business objectives, supported her leadership team in developing and communicating company values, attracted and retained some the industry’s most valuable talent, drove successful diversity and inclusion efforts, and developed policies and programs that reflect the highly creative culture of the company. The Next 90 program is one of a few programs that Green has helped launch that exemplify all of this. Based on the Objectives and Key Results (OKR) method—which helps accelerate performance in many of the world’s most successful companies—Next 90 aims to improve A+E’s goal-setting and feedback paradigm. When Next 90 is fully implemented in late 2017, in place of performance ratings and forms, employees will be provided with detailed aspirational goals and regular feedback and communication. “The Next 90 tease was fantastic because we were able to launch with [the idea that] there’s no more performance management, ratings, and forms,” she says. “There were cheers around the building. I’ve never gotten so many employee e-mails. We sent it out, and within twenty minutes, I had a full inbox of, ‘Thank you’; ‘This is the greatest thing ever’; and ‘I’m so happy going into the end of the year that I don’t have to do all of this stuff.’ All the energy has been an amazing way to enter into Next 90. Employees are highly engaged in what’s coming.” Meanwhile, A+E launched the ME+ learning-and-development platform to provide learning opportunities for employees across all of the company’s values: “Think Next”; “Be You”; “Own It”; “Love What You Do”; and “Fight Like a Family, Win as a Team.” ME+ offers education at three different levels: “Explore,” in which every employee at every level attends small, intense sessions that are offered about different day-to-day work topics; “Grow,” a more leadership-focused program geared toward mid-level managers that are starting their careers as leaders and mentors; and “Illuminate,” which is for A+E’s senior executive leadership and revolves around the industry offerings at universities and conferences. Within this platform, Green and her team have also launched Love What You Do and Chat and Chew programs, where senior leaders in different parts of the organization talk about their day-to-day for employees who may not be familiar with their responsibilities.

“The sessions have been really successful and are consistently sold out,” Green explains. “Employees really respond to the opportunity to talk to leaders in a casual and conversational environment. Playing in the learning-and-development space is so fun now because there are so many different ways to approach it. Part of the wealth of this program is the focus on peer-to-peer education.” Another program, Passion Groups, gives employees an outlet to participate in areas they are passionate about. Examples of these groups include an environment-focused green team that develops and launches employee programs, such as access to a communal farm share and a weekly farmer’s market; a music group that creates music events for employees in the common area; a work/life balance group to support employees balancing their career with their personal life; and a health group that oversees the company’s yoga and Soul Cycle sessions. One of the most popular Passion Groups is Creators Within—a group that puts together content for A+E’s internal communications. Screens all over the A+E offices display in-house created content about employees, including fun facts about the management team, a “twinsies” segment that features pictures of employees who are dressed like one another, and an employee’s favorite commercial of the week. “The programs only move forward and are successful if they’re employee-driven,” she says. For Green, the next major challenge is an ongoing one: staying on top of the rapid change and disruption in the media industry while continuing to thrive at the cutting edge of HR. She admits that there’s a lot of pressure on her team to know what’s coming next. However, it’s worth it if it opens up a seat at the proverbial executive table so that her department can be part of business discussions that relate to strategy and the future of the industry. “The big challenge we’re facing is feeling that we are ahead of the game, thinking strategically, and remaining nimble, so we are prepared for the changes that are coming rather than just reacting to them,” Green explains. “It may be aspirational, but if the phone is ringing and our leaders are asking us to be part of a conversation because they think we have something to add about the way we look in the future, then we’re doing the right things. ”

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Elena Bragg

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Legal Shelter Jason Pollack is the top attorney at Standard Industries, a building materials company with a big stake in the roofing segment and an expanding footprint. Rather than becoming “the department of no,� he pushes his staff to be great business team players.

By R U S S K L E T T K E

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Herrick is proud and honored to partner with

JASON POLLACK and

GAF

NEW YORK NEWARK WASHINGTON, D.C. ISTANBUL

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Standard Industries—the parent company of GAF, North America’s largest roofing manufacturer—is in the business of keeping the elements—water, wind, snow, ice, and extreme temperatures—outside of buildings. In other words, it fulfills the basic expectation of all roofs since humans ventured outside of caves. However, the roles and construction of roofs are increasingly complex, as are the legal needs of this globally expanding, privately held company. The Parsippany, New Jersey-based multinational conglomerate’s top lawyer, Jason Pollack, explains that the design, manufacturing, distribution, and installation of the company’s products carry complex risks, but also produce plenty of rewards. That said, in his role as executive vice president of business affairs and general counsel, proactive risk management is an important responsibility for him. Risk-taking is also emphasized in the conversations Pollack has with new hires in his legal department. “Embrace the risk of making business decisions,” he tells them. “Perfection is not possible. We are here to maximize value, and sometimes, you have to make judgment calls.” To be clear, these are informed risks and something to which he and the company are well accustomed. GAF’s main business is shingles, membranes, and related materials. Its products, along with Standard Industries’ other businesses, protect buildings from moisture getting in and air getting out, but in fact, roofing is expected to do much more: provide an aesthetic feature on homes and support sustainability efforts, increasingly so for flat commercial roofs. On another level—one may say 30,000 feet above these roofs—Pollack’s work as an attorney goes far beyond the law and “the business of no” that is often associated with in-house legal departments. He is involved in strategic decision-making that takes place at Standard Industries, both from a legal perspective and that of someone with a deep understanding of the company, its industry, and its markets. Pollack notes that company leadership is incredibly supportive of the legal function, which he attributes in part to the privately held company’s owners, including its late

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chairman Samuel J. Jason Pollack Heyman, who was also an attorney. EVP of Business Affairs, General Matters of law, Counsel mergers, and acquisitions are critical Standard Industries to this sprawling enterprise. GAF has Parsippany, NJ sixty-five manufacturing plants and about 6,500 employees across Europe and North America, with aggregate annual sales that total about $4 billion. Compliance with the various laws applicable to its business and employees is also an integral part of the company’s business strategy and values, which requires the legal department to adapt quickly as they grow when the company grows its footprint. Pollack played a vital role in the company ’s 2016 acquisitions of Icopal, a Denmark-based firm that manufactures roofing and waterproofing membranes, and in its offer to acquire Braas Monier, a roof tile-maker based in Germany. Icopal has eighty-four offices in Europe and North America that largely serve the flat-roof commercial market. Braas Monier—in a deal with Standard Industries pending as of press time—has about 15,000 employees and more than $1 billion in sales, primarily of pitchedroof residential products. The acquisitions of these companies were about more than transactional documents for the legal department. “We get involved long before that,” Pollack explains. “We talked about the opportunities of this acquisition from day one. We discussed strategies and risks, how to evaluate the companies, and how to fit them into our enterprise.” Pollack notes that the attorneys need to be aware of key commercial considerations when engaging in the formal legal due diligence process in order to highlight important information that can be useful outside the legal sphere. “We really function as business partners, and this continues after the closing,” Pollack says. “We are involved in the integration of each new business, which includes communications with employees and customers, as well as implementing new business processes.”


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“We are part of a team that finds business solutions. This is not a ‘check the box with legal’ culture.” JA S O N P O L L AC K

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committed to

Excellence

Congratulations Jason. Drinker Biddle joins Profile Magazine in recognizing Jason Pollack, General Counsel at GAF, for his leadership and commitment to the growth and success of the organization. We look forward to working with him, and GAF, for many years to come. Whether it’s complex litigation, transactions or the latest regulatory hurdle, we get it. With more than 600 lawyers across the country, we help clients find the right legal solutions to their business needs.

www.drinkerbiddle.com ALBANY, NY | CHICAGO | FLORHAM PARK, NJ LONDON | LOS ANGELES | NEW YORK PHILADELPHIA | PRINCETON, NJ | SAN FRANCISCO WASHINGTON, DC | WILMINGTON, DE Drinker Biddle & Reath LLP. A Delaware limited liability partnership.

The company’s acquisition activities were opportunistic, Pollack says, offering the right opportunity for Standard at the right time. However, they also fit into the company’s strategic vision. Building materials in general, and roofing in particular, are becoming more focused on sustainability and energy efficiency initiatives. In 2015, GAF bought Quest Construction Products, a leading supplier of roof coatings, which is a growing segment in the marketplace due to its reflectivity and energy efficiency benefits. Quest also offers its StreetBond product line, which is a coating applied to parking lots, playground hardscape, and streetscapes to reflect solar heat gain. These products are valued by architects, construction firms, and building owners that are striving to achieve a LEED v4 certification; roofs and parking areas are now combined in the analysis of this “heat island” factor. They were formerly evaluated as separate parts, which tended to put all green efforts on roofs only. Now, the customer who wants to win on solar reflectivity can cover their roofs and pavement with two different GAF products. Pollack and his team work closely with sales and marketing to balance the need to highlight the benefits of these products, while at the same time not over-promising and potentially creating unjustified legal obligations for the company. “Our business leaders appreciate the intricacies of legal issues,” Pollack says. “They get it, that sometimes it’s complicated and complex. But we have a culture where legal has their confidence and support. We are part of a team that finds business solutions. This is not a ‘check the box with legal’ culture.” Pollack explains that this is no accident, as his department operates according to overarching objectives. They observe three core principles. The first is that legal maximizes the value of a deal by recognizing that benefits and risks need to be equally considered. The second is that lawyers understand the key factors of the business so that they can effectively combine legal analysis with business judgment. The last core principle is that attorneys take ownership of the decisions being made in each matter they are involved with in combination with their business partners.

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“We do not simply provide our advice and walk away. And we do not believe that there are ‘legal issues’ that are separable from business issues.’” JA S O N P O L L AC K


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TALENTED. INNOVATIVE. EXPERIENCED. “We do not simply provide our advice and walk away,” Pollack says. “And we do not believe that there are ‘legal issues’ that are separable from ‘business issues.’ Instead, we believe that each participant in a decision-making process brings a different perspective to a discussion and, on many issues, they need to work together to find the right balance so that each person can feel comfortable with, and ultimately take responsibility for, the decisions being made.” As with any company on a growth-by-acquisitions path, the melding of IT functions is no simple undertaking. Under such circumstances, the opportunities for breaches in cybersecurity naturally increase. While Pollack credits the company’s IT professionals with handling the vast bulk of its defenses, he insists that his own staff must be on guard, as well. “Our team trains our employees to practice care,” he explains. “They have to be sensitive to risks.” Naturally, the growth of the company has meant expanding the legal department. With a dozen lawyers on staff in the United States and another four in Europe, Pollack looks for people who can adapt to cross-border transactional law and the cultural factors that ultimately play a role in those transactions. “Knowledge can be acquired, such as how the roofing business works,” he says. “But the intelligence and keen judgment to critically analyze new issues and the emotional maturity to work with various groups cannot be taught.”

WELL DONE We salute the innovations, achievements, and contributions to business and the law of our client and friend,

RIKER DANZIG. EXCELLENCE AT WORK. It takes years of commitment and dedication to perform at the top of your game. Riker Danzig congratulates Jason Pollack of GAF, an insightful and pragmatic counselor, for his recognition in Profile magazine.

K&L Gates operates at the critical crossroads of the twenty-first century, offering clients experienced legal counsel at the intersection of globalization, regulation, and innovation. With approximately 2,000 lawyers practicing in fully integrated offices on five continents, the firm provides comprehensive legal services to clients of all sizes, across nearly all industries. Riker Danzig has had the privilege of providing legal counsel to GAF and Jason for over sixteen years. Jason is a talented lawyer; his keen understanding of both the legal and the business issues on GAF’s plate gives him an uncommon edge. We are proud to be on his team. Jason is a very special person, and is one of those rare lawyers who thinks strategically, with the big picture in mind, while not losing his attention to the key details. —Herrick

M O R R I S TO WN , N J TR EN TO N , N J N EW YO R K WWW. R I KER . C O M

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Jason Pollack Executive Vice President of Business Affairs & General Counsel

GAF K&L Gates LLP. Global legal counsel across five continents. Learn more at klgates.com.


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Turning the Dial Tres Williams shares how an old-fashioned radio company became a leading media brand

As the last note rang out in the nightclub, Tres Williams scurried off stage and wove his way through the turbulent crowd to break down his gear, collect the cash, and check in at the next venue. Williams, a saxophone player and de facto band manager, found himself in the middle of the frenetic southeastern rock and jam band scene that hit fever pitch in the 1990s. He started promoting concerts and events through college and later at an Atlanta venue. And when a New York newspaper ad caught his eye, Williams landed an entry-level position as an assistant at Zomba, parent company of Jive Records, the pop label at the time known for best-selling artists Britney Spears, R. Kelly, NSYNC, and the Backstreet Boys. While there, Williams got a behind-the-scenes look at the industry’s inner workings as labels, artists, media companies, and corporations fought piracy and battled tooth and nail for a piece of the new digital landscape. His early mentor was Zomba’s top lawyer, who noticed Williams had a penchant for contracts and deals and helped the enterprising musician enroll in evening classes at Brooklyn Law School. While Williams studied and eventually earned his JD, he was also busy in his day job at Zomba, defending against rampant piracy being facilitated by services such as Napster and mp3.com. BMG acquired Zomba and eventually merged with Sony. Shortly after, iTunes started selling singles. Consumers changed behaviors and drove trends. As the music industry struggled through the growing pains of the digital era, Williams embraced one idea that often rose to the surface of his mind: “If you can’t beat ‘em, join ‘em.” In 2006, after spending three years as Sony BMG’s associate director of business affairs, Williams left to join eMusic, where he helped the independent MP3 distributor negotiate deals. He then moved to Thumbplay in 2008, where he licensed rights from record labels and music publishers

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iHeartMedia produces content for more than a quarter of a billion monthly listeners in the United States and has amassed more than 85 million social followers, giving it the largest reach of any radio or television outlet in the country.

John Shearer/Getty Images

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to launch an on-demand streaming service similar to Spotify, but before Spotify existed in the United States. Clear Channel acquired that company in 2011, and Clear Channel changed its name to iHeartMedia in 2014. Williams, along with about seventy colleagues from Thumbplay, were quickly put to work in the relaunch of iHeartMedia’s digital music and live streaming radio service, iHeartRadio, just four months after Thumbplay’s acquisition. Williams now leads

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“We’re not a radio company, we’re a new kind of media company, and we’re pushing the limits of that.” TR E S WI L L I A M S

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LOEB & LOEB LLP

is pleased to recognize our client and friend

Tres Williams

We applaud your accomplishments and commitment to innovation and collaboration within the industry.

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Tres Williams SVP, Business and Legal Affairs iHeartMedia New York, NY

And in that space, visionary leaders such as chairman and CEO Bob Pittman encourage employees to be willing to make mistakes and lead innovation. Additionally, the company can leverage close ties with Snapchat, The CW, Turner, and others to deploy and test new ideas. “We’re not a radio company. We’re a new kind of media company, and we’re pushing the limits of that,” Williams says. “iHeart isn’t just a brand, it’s part of our culture.”

Wendy George

for his exceptional contributions to iHeartMedia.

iHeartMedia’s business and legal affairs team and has spent the last several years helping iHeartMedia evolve from the old Clear Channel into a leading next generation media company. Today, the worldwide company’s operations include radio broadcasting; online, mobile, digital and social media; live concerts; special events; and more. With 85 million social media followers, nearly 900 radio stations, and more than 250 million monthly listeners in the United States, iHeart boasts the largest reach of any radio or television outlet in America. Williams relies on lessons learned at Zomba, eMusic, and elsewhere to lead a business and legal affairs team that helps various divisions of a large company work together to maximize profits and minimize risk. “My team works with every facet of iHeartMedia’s businesses,” he explains. “We are the central glue that connects various teams in a huge and fast-moving modern company.” In recent years, iHeartMedia has built a reputation for high-octane live events, music festivals, and national tours. Each large project requires deals with numerous artists and partners, and each project presents various opportunities and revenue streams from sponsorships, television deals, and elsewhere. Thousands of iHeartMedia employees work behind the scenes to grow these events and products through innovation and advancement while adding more radio stations, personalities, and promotions. Williams’s office is where many of these efforts converge. “We work with all the different parts of iHeart to make sure their various interests are aligned and that all of the important details are communicated and captured in a contract so everything goes smoothly. That’s how we ensure the company thrives in the new world,” he explains. It’s no secret that it takes a special team to accomplish the varied tasks necessary to make iHeart run efficiently. “Urgency is a key value for my team and for the entire company,” he says. “We’re a huge media company, but we have to operate as a start-up.” The 14,500-person organization—with cores in New York City and San Antonio—has to remain fast and nimble to compete with other media companies. And while competition is fierce, Williams believes iHeart has a few key advantages, such as the right combination of talent, leadership, product, and strategic partners. Although the brand leads the way in radio, it has also invested heavily in the digital space.


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2000 Attorneys 38 Locations Worldwide˚

Greenberg Traurig proudly supports iHeartMedia for its commitment to innovation and consumer relations in the entertainment industry. We congratulate our friend, Tres Williams, on his successful career as Senior Vice President, Business & Legal Affairs of iHeartMedia, and for his recognition in Profile magazine.

Loaded with deep experience and resources, iHeart has a head start on any competitor that would try to replicate its expertise and infrastructure around the audio experience. For years, others in the tech world have overlooked what the iHeart team is doing. Now, those would-be competitors might have no choice but to take a page from Williams’s own playbook and repeat that oft-heard chorus: “If you can’t beat ‘em, join ‘em.”

profilemagazine.com

Greenberg Traurig congratulates Tres Williams on this well-deserved honor! As the recognized leader in digital music, Greenberg Traurig provides clients with the A1:F86 business-oriented and dedicated legal advice needed to thrive in today’s complex entertainment marketplace. Tres is a talented lawyer and a dynamic business leader. His knowledge and passion for the music industry is helping to chart the course of this transformative business. We’re honored to partner with him and his team. –Kenneth R. Florin, Deputy Chairman, Loeb & Loeb LLP; Co-Chair, Advanced Media and Technology

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GREENBERG TRAURIG, LLP AT TO R N E Y S AT L AW W W W . G T L AW . C O M Greenberg Traurig is a service mark and trade name of Greenberg Traurig, LLP and Greenberg Traurig, P.A. ©2016 Greenberg Traurig, LLP. Attorneys at Law. All rights reserved. Contact: Bobby Rosenbloum in Atlanta at 678.553.2100. °These numbers are subject to fluctuation. 27816


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Perfect Fit Lisa Caldwell has her dream job at Reynolds American. Now she’s making the company a dream workplace for everyone else. By C H R I S G I G L E Y

Lisa Caldwell knows what it means to be driven when it comes to finding the perfect job. After all, it took every ounce of persistence to find hers. She grew up wanting to become a doctor, a goal she held all the way through her first visit to the anatomy lab. (Working with cadavers was a little too scary.) Although she majored in business at the University of North Carolina at Chapel Hill, Caldwell didn’t want to give up on her lifelong dream to be in a health profession, so she pursued a path to dental school. After learning that the dental school had its own version of gross anatomy, Caldwell did what any logical business major would do: she went to law school. Caldwell earned a law degree at Wake Forest University and worked for several years at local law firms. But it was only after R.J. Reynolds Tobacco Company hired her as human resources manager in 1991 that she realized the HR field was where she belonged. Caldwell had finally found her calling, achieving a position as executive vice president and chief human resources officer. “The bottom line is you have to find that intersection of passion and what you’re good at,” she says. “In my role at Reynolds

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Lisa Caldwell EVP, CHRO Reynolds American Inc. Winston-Salem, NC

American, the key thing I have to do is find the right person for the right role at the right time. My journey was a prime example of landing in that sweet spot.” To get there, Caldwell says she had to be resilient and forward-thinking—qualities that serve her well to this day. “When stumbling blocks get in the way, you have to be able to play chess and not checkers,” Caldwell says. “That’s been important in my role. My head has to be in the future. I’m always looking at what is out there and how I lead this important asset called people to drive tremendous business results in the face of a lot of uncertainty.” Caldwell calls her hiring at Reynolds a blessing, but she also put herself in position to take advantage of the opportunity when it arrived. Now, she and her HR team, along with company management, are putting Reynolds in the best possible position to hire top talent. They are now entering the third year of her five-year initiative to make


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Reynolds American an employer of choice by more closely aligning the company’s human resources goals with the core strategy of the entire company. Caldwell explains that Reynolds American CEO Susan Cameron often says that the company’s two most important assets are its people and its brands. “Our goal is to ladder up to that business strategy,” she says. “You need high-performing, sustainable talent that’s highly engaged. You also need a diverse group of employees with a sense of purpose and the right mix of conventional and unconventional thinking.” Caldwell and her team ensure that current employees feel invested in the changes being made for them. She says the company conducts regular “voice of the employee” research, and results show that there are three factors that make Reynolds American stand out. “One is the people. People come here for the job but stay for the people,” Caldwell says. “Another is opportunity. We allow employees to have a say in their careers, to let us know what their preferences are. Finally, they like the sense of purpose here. Transforming the tobacco industry is a vision we can all rally behind.” Caldwell, together with her HR team, facilities management group, and information management staff, is looking to make the work environment at the Winston-Salem corporate office another key differentiator for employees. Reynolds American is renovating every floor to reflect its rich history in an atmosphere that is quite modern and contemporary. The company has also spent the past few years updating technologies and processes that support or enable how employees get their work done. To reimagine the office space, it consulted with leading office design firms, as well as employees and job candidates. “We realized all of us rallied around the concept that our work environment should have what we call an ‘energized urban loft’ feel,” Caldwell says. Nods to the company’s heritage include reclaimed wood from old tobacco factory buildings integrated into the interior design, as well as old barrels fashioned into tables. Interestingly, research shows that millennials were most interested in these types of elements. “They told us they want to be steeped in the history of this organization while they’re part of its ongoing journey,” she says.

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“In my role at Reynolds American, the key thing I have to do is find the right person for the right role at the right time.” L I SA CAL D WE L L

These physical changes are all part of a larger shift Caldwell is leading to treat employees as customers. Much of this involves top-notch marketing, which is why her HR team includes more than a few people who came over from the marketing function. “We needed to design our HR function to mirror the services you typically see in a consumer goods company. Except in our case, our consumers are our employees,” she explains. “We created a marketing department to reach out to them, but it’s more than marketing. It’s also employee research. It’s strategy and planning and communication.” The bottom line is ensuring that the employee experience at Reynolds American is not only positive, but great. “Even if it means more administrative complexity, we want employees to find the information they need, be able to get their questions answered, and have intuitive processes so they can focus on their jobs,” she says. Caldwell and her team have gone so far as establishing an employee service center within the HR department to help employees understand and navigate HR programs and

processes. “When you need an answer to a question, you have somebody to call right here in the company,” she says. Caldwell has also steered the HR department toward a more holistic approach to employee well-being. This includes personal well-being initiatives such as on-site health clinics, fitness centers, health advocacy, and telemedicine programs. Financial well-being is also a focus. A transparent pay structure and special bonuses foster innovation, and personal financial education and counseling are offered at no cost to employees. There are also efforts to make employees feel more connected to their own communities through work with local nonprofits and charitable organizations. Caldwell says these moves have already earned Reynolds American recognition as one of the fifty most engaged companies in North America. “This is not just an HR vision,” she says. “This is a vision that is embraced and modeled by the leadership team. It’s important for success to have your top leaders’ commitment. We are a cohesive leadership team invested in becoming an employer of choice.”


Victoria - VP Trade Marketing

Vinson - R&D Scientist

Hien - Comp. Analyst

Lisa - EVP & Chief HR Officer David - Senior Director Marketing

Lisa Caldwell is blazing new trails through continuous innovation in Human Resources. Her visionary and passionate leadership fuels our journey to transform an industry. Join us at RAI and you’ll build a remarkable career in the company of trailblazers who are as original as you. We’re invested in each other’s growth and well-being because we know our companies succeed when our people thrive.

www.reynoldsamerican.com/careers

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Dishing Out Good Judgement and Making It Look Easy Erika Schoenberger transforms her legal experience into corporate leadership at EveryWare Global, where she’s bringing stronger interdepartmental relationships to the table By B R I A N B A R T H

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there, Schoenberger Erika decided to give it a Schoenberger look. She says it was General Counsel, also dawning on SVP her at the time that continuing the path EveryWare Global she was on, however Lancaster, OH successful and exciting it was, probably meant going narrower and more focused on one specific subject matter. She explains that it is a trend that went against the grain of what she loved most about being a young litigator: learning a new subject matter for every new case. Schoenberger loves to learn, and she describes going in-house as an opportunity to do that in a broad way. “I was also realizing that what I found most fulfilling about legal work was advising executives—really getting ingrained in their business, helping them to create value through making connections, building relationships, and being proactive on the business side,” she says. “I felt like I

Erika Schoenberger earned her JD from The Ohio State University Moritz College of Law. Kimberly Weekley

Some lawyers just want to practice law. Others see law as a path to leadership. Erika Schoenberger, general counsel and senior vice president for tableware and food service products giant EveryWare Global Inc., definitely falls in the latter camp. Schoenberger had everything going for her out of law school. At her first employer, Frost Brown Todd, one of the largest law firms in the Midwest, she quickly advanced to a litigation role as an associate, working with a number of major corporations as a national litigation coordinator. Her fast-learning style and flair as a litigator kept opening doors, and she was soon named a partner. Pleased with her path thus far, Schoenberger envisioned a long and successful career with the firm. However, just shy of her tenth anniversary at Frost Brown Todd, she received an offer from EveryWare, which had been a client of hers for many years. Because of her close working relationship with contacts


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could bring more to the table that way than helping them navigate a specific lawsuit or a specific legal issue.” In other words, her personal calling to become a corporate leader had awakened. EveryWare offered many ways to satisfy Schoenberger’s appetite for knowledge as one of the world’s leading designers and sellers of tabletop and food preparation products for consumer and food service markets. The company is also the largest supplier of dinnerware to the food service industry in North America. With international distribution of a vast portfolio of products including flatware, dinnerware, crystal stemware, glassware, serve-ware, cutlery, buffet-ware, candle glass, floral glass, spirit bottles, and an array of kitchen tools and accessories, the company provided her with a challenging environment in which to expand her repertoire as a lawyer. But of even greater importance to Schoenberger, EveryWare offered fertile ground for her emerging business leadership skills. With that as the kicker, she made the leap and hit the ground running. Schoenberger was promoted to general counsel shortly after joining the company. She found herself at the table with the board of directors, where she collaborated with executives from every department and tackled issues that she had little experience with on a daily basis. In addition to overseeing the company’s “small, but mighty” legal department, Schoenberger took the helm of the twelve-person human resources department, which oversees a variety of programs such as benefits, compensation, training, development, compliance, and safety. “What has been thrilling for me is that every single time I have flexed my mental muscles, worked hard, and rolled up my sleeves to learn something new, the leadership at EveryWare has recognized that

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“Every single time I have flexed my mental muscles, worked hard, and rolled up my sleeves to learn something new, the leadership at EveryWare has recognized that ambition.” ERIKA SCHOENBERGER

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is proud to work with

EveryWare Global, and we congratulate Erika Schoenberger for her exceptional leadership.

Milbank, Tweed, Hadley & McCloy is a leading international law firm that provides innovative legal solutions

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“If you want to be invited into the room by the business people, it’s important that they view you as someone who can help solve their challenges and further their goals.” ERIKA SCHOENBERGER

ambition and leadership ability, and grown my responsibilities more and more,” Schoenberger says. Now in her third year at the company, her involvement and value across departments continues to grow. “I’m passionate about understanding the various business levers and the impacts they have and being a critical partner that acts as a sounding board. As a functional leader, if you want to be invited into the room by the business people, it’s important that they view you as someone who can help solve their challenges and further their goals. Sometimes it’s legal or human resources, and a lot of times it’s just that they trust your judgment.” For example, connecting the dots between research and development, marketing, and product liability goes a long way toward gaining the good graces of business leaders, Schoenberger adds. In one such instance at EveryWare, she was working on developing a quality standard for a specific type of process used in one of the company’s product lines. Rather than rely on an internal quality standard, she approached an industry trade association and worked with them to develop the standard, which includes a third-party verification process. “It was initially done in what I call a ‘defensive legal posture,’” she says. “But the fun part was getting to take that to our top-talent marketing team because it’s a rigorous third-party verification and a marketable claim, and thus, something they can build into their plans. When you can make them say, ‘Wow, my

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lawyer thinks about marketing,’ and you’re handing them something that they had not been driving forward themselves, it gives you a little bit of an extra right to be there as a business partner, not just as a person they need to run legal questions by.” For Schoenberger, these challenges are immensely fulfilling. It also helps that she loves the product line: “It’s something that has been in my kitchen, was in my grandmother’s kitchen, and hopefully will be in my children’s kitchens.” She also knows that it has been cherished by and on the table of generations of Americans at backyard barbecues, during holiday meals, and at everyday family dinners. The company’s two most iconic brands, Oneida and Anchor Hocking, have each been at the center of the American dining experience for more than a century. This year, the company is in the midst of a major new strategic push to figure out how its products will maintain relevance over the next century, according to Schoenberger. “I can’t emphasize enough what a special moment this is for the company,” she says about the much-anticipated rollout of its new strategy. “We have great assets and brands that were built the old-fashioned way, which is people’s good experience with a quality product. But I’m a big believer that there is a season for everything and that we are in a major regrowth phase from those deep roots.” It’s a tall order, but for Schoenberger, this is clearly an exciting challenge.


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Crafting a Business Athlete Sharon Heckel, VP of people empowerment for SolarCity, believes that having a strong mind in business is the same as having a strong mind in sports By D A N C A F F R E Y

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Sharon Heckel VP of People Empowerment SolarCity San Mateo, CA

Garth Pratt

Sharon Heckel works in human resources, but she actually talks a good deal about sports. It’s not because there’s a big game on, though. No, she talks about sports because, as Heckel points out, the same principles apply to business. “Work is a massive team sport since you are all dependent on one another,” she says. “You all have to know what your position is. You need great people on the team. Sometimes if you’re having a stressful day, you need to step out and go on the bench so someone else can go in for you. I think there are a lot of metaphors there of helping each other, of supporting each other, of someone else filling in if someone’s having a bad day.” Heckel has to ensure that this type of athletic-minded harmony occurs every day at her workplace. Since July 2015, her role has been vice president of people empowerment at SolarCity, the California-based leader in providing clean energy to homes, businesses, schools, and government organizations at a lower cost than fossil fuels. Shareholders recently approved a multibillion dollar merger between SolarCity and Tesla, another Elon Musk company. The goal of the merger is to create a single integrated clean energy company; together, SolarCity and Tesla will aim to sell homeowners solar panels and the all-electric vehicles they will power.


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Since much of the discussion revolves around sports, it’s easy to picture Heckel’s role at SolarCity as that of a coach. “Basically, we have a recruiting team that brings people into the organization,” she explains. “Once they’re here, I’m responsible for them: professional development, employee relations, an effective work environment, their compensation structure . . . really anything that occurs with them through their life cycle of employment.” That approach is coupled with the company’s important mission of combating climate change—not just with its products, but in day-to-day operations. Heckel finds it to be rewarding work, to say the least, and the latest chapter of a career that’s been defined by her ability to foster teamwork and collaboration. Before coming to SolarCity, she served as vice president of organizational effectiveness at Kaiser Permanente, and prior to that, she was part of the global business services consulting division at IBM. Her roles at the two different companies shared one quality: longevity. She put in eleven years at IBM and seven at Kaiser Permanente. This isn’t just a coincidence. “I’m not a big jumper,” she says. “I invest a lot of time and energy into getting to know the organization and working to make a difference.” At Kaiser Permanente, Heckel’s success at the company led to her winning a Most Powerful & Influential Women Award from the California Diversity Council in 2015. But she wasn’t just born with the five qualities that make up the awards criteria: leadership excellence, clout in the organization, sustained accomplishments, leadership within the community, and operating with the highest ethical standards. She had to begin sharpening these skills long before she started her career. In fact, many of the experiences that have informed her professional life happened in her childhood. There were the sports, of course—volleyball, basketball, swimming, and tennis—but she was also influenced by her mother’s volunteer activities. “My mother was always a strong believer in community involvement,”

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“I invest a lot of time and energy into getting to know the organization and trying to make a difference.” S HAR O N H E C K E L

Heckel recalls of her time growing up outside of Chicago in Aurora, Illinois. “More than anything, she gave me the sense of giving back, and that got me involved with local politicians’ campaigns, helping out at the gift shop at the hospital, singing in the church choir, and other things. She also taught me about donating to charity. She was always very involved with many volunteer organizations. At one point, she became president of the United Way of Illinois. She was really a formative figure in my early years.” In her own adult life, Heckel continues to give back through a variety of activities,

most notably as a member of the board of directors at Woodminster Theater—a historic performing arts amphitheater and nonprofit in Oakland—since 2008. “We are celebrating our fiftieth season this year, which is pretty amazing for a performing arts organization, so that’s been a real way I’ve made an impact. It’s been neat to be involved with the mayor’s office and different groups that have made the theater a long-standing success within the community.” However, Heckel admits, of all her activities outside the office, travel is the one that’s been the most important in shaping the way


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she approaches her day-to-day work. Sure enough, her parents also introduced travel into her life. “My first international trip of any note was to France and England with my parents and one of my brothers when I was seventeen,” Heckel recalls. “That really gave me an interest in learning languages and cultures, actually really vying for something different. I’ve always been interested in people who are different than me rather than people who are the same.” Being interested in other people more or less comes with the job description for someone working in human resources. The ability to empathize with others and see problems from a variety of perspectives and in a variety of situations is key to successful HR leadership. While many people may view travel as a means of escaping their job, Heckel actually sees it as a way to improve in her role. She tries to take a major international trip once a year and would like to spend some time in South America during her next adventure. “That will leave only Antarctica as a continent to explore,” she laughs. Naturally, Heckel doesn’t have as much time to play competitive sports as she did during her childhood. “It waxes and wanes,” she says of her time on the tennis court. But that doesn’t mean she doesn’t get to put her athletic type of mental toughness to good use in her role at SolarCity. “At the end of the day, you’re an individual and you have to push yourself,” she says. “You’ve got to exercise. You’ve got to run laps. You’ve got to do all the things that really make you craft yourself as an athlete. You have to continue to hone your skills and expand your horizons. I really equate it to being a professional business athlete.” Game on.

Mercer is a global team of over 20,000 individuals who dedicate their skills and knowledge to enhancing the health, wealth, and careers of more than 100 million people worldwide. www.mercer.com

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The Neo-Resort Transformation Skyline Hotels & Resorts’ Chris Lund has reconstructed seasonal properties into year-round destinations By M AT T A L D E R T O N

Imagine a large, abandoned building in the center of a vibrant city. Although it once was full of bustle, now it oozes blight. It’s been there for decades, at least. Maybe longer. Like a dying tree, it has roots beneath the ground that keep it anchored as it rots. Still, the land on which it’s built is ripe with promise. If only the building could be razed, onlookers think to themselves, its foundations might give birth to something new. Recognizing the site’s potential, a developer bedazzles the building’s bones with dynamite. Moments later, he lights the detonating cord. In an instant, the old structure is gone. In its place, the developer plans to build something bigger, better, and many times stronger. Instead of a building stuck in the past, a building designed for the future rises. What appears to be an anecdote about real estate is actually a parable for business, and one business, in particular: the Toronto-based Skyline Hotels & Resorts. The company owns and manages seven hotels and resorts across the United States and Canada, including the landmark Deerhurst Resort in Huntsville, Ontario, which boasts 350 guest rooms, two eighteen-hole golf courses, fifty thousand square feet of meeting space, four restaurants, a live entertainment stage, a spa, an expansive waterfront, and access to twelve ski slopes next door at Hidden Valley Highlands Ski Area. Opened in 1896, Deerhurst is the oldest major resort on the northern lakes of Ontario’s Muskoka region. Having flourished for

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more than a century, the 760-acre property was floundering in 2011, when Skyline purchased it from its US owner, Cornerstone Real Estate Advisers. To an outsider, it might have looked like a questionable investment. To Skyline, however, it looked like opportunity. Upon acquiring the property, it hired as its general manager hospitality veteran Chris Lund, who had previously managed Deerhurst from 1991 to 1998. Like the developer in the real estate anecdote, his mission was imploding something old and building

By diversifying entertainment options beyond skiing and golf, Chris Lund revitalized the resorts run by Skyline Hotels & Resorts.

something new. Instead of an outdated building, however, he used his figurative dynamite to demolish an outdated business model. “The property had been facing some financial challenges for many years because of its location and seasonality,” Lund says of Deerhurst, which traditionally had performed well in the winter and summer—when it attracted droves of skiers and golfers, respectively—but stagnated during the shoulder seasons in between. “With the support of Skyline, we used my previous experience


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at the resort to go Chris Lund in and make a lot of changes to the SVP of Hotels & Resorts way the property was run. By thinkSkyline Hotels & Resorts ing smarter and making some really Toronto, ON tough decisions, our team was able to improve the resort’s performance significantly in a reasonably short period of time.” Although it sounds simple, it was anything but, according to Lund, whose first move was diversifying the property’s offerings to include more indoor entertainment options alongside its popular outdoor offerings. Doing so, he hypothesized, would make the resort less dependent on Mother Nature for its revenue. “If you run a seasonal business like ours, you have to have activities going on yearround to keep people coming to your property. We brought in a lot of live entertainment,” says Lund, who recently was promoted to senior vice president of hotels and resorts, overseeing Skyline’s entire hospitality portfolio. “We have a room with a stage that can sit about 1,000 people theater-style or about 600 for a dinner show, so we started bringing in name-brand entertainment and selling dinner-show packages, which we really hadn’t done before. It’s been very successful for us.” More radical, but equally successful, was Lund’s decision to implement a new “high season-low season” operating model. Traditionally, resorts keep their properties completely open and fully staffed year-round. When there aren’t enough guests to patronize their various businesses, however, amenities that were designed to make money end up losing it. Lund solved this conundrum by shrinking the resort’s footprint during shoulder seasons. While Deerhurst has four restaurants, for example, only one or two might operate during slow periods. Naturally, this shift impacted staff. Employees who were used to full-time, yearround employment suddenly had their hours cut or their positions eliminated. In response, Lund changed the resort’s staffing model. “We had to reinvent our recruiting practices,” Lund says. To do so, he intensified the resort’s efforts to recruit students from hospitality programs in the region, including French-speaking students from Québec who were open to part-time and seasonal work in exchange for the opportunity to practice their English. Lund also created a new position known as the resort service attendant. “If you run a standard hotel in an urban center, it’s busy all the time. So, you can hire someone to be a room attendant, someone to be a server in

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your dining room, somebody to work in your fitness club, etc.,” he says. “When your business fluctuates, you can’t afford to do that.” The resort service attendant position is a catchall position that combines multiple roles into one. An associate can serve breakfast in the resort’s dining room from 7:00 a.m. until 10:00 a.m., for instance, then join the housekeeping team to clean rooms from 11:00 a.m. until 3:00 p.m., and then spend the rest of their shift helping out in the recreation department. “We win, and they win,” Lund says. “Our associates who are entry-level—most of whom are students—get great work experience because they get to work in several different spots during their stint with us. Meanwhile, we get the benefit of providing more services with fewer staff.” Change didn’t come quick, and it didn’t come easy. Five years later, however, results have become evident in better guest satisfaction scores, increased operating income, and improved profitability—not only at Deerhurst, but also at other Skyline properties, such as Horseshoe Resort in Barrie, Ontario, and Bear Valley Mountain Resort in Bear Valley, California, locations at which Lund is overseeing similar changes. “All the changes we’ve made are about working smarter, not harder,” says Lund, whose approach is perfectly aligned to Skyline’s strategic objectives. “Our company mantra is: we look for under-performing assets, and we revitalize those assets by reinvesting in them. We find rough jewels, and we polish them.”

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Jay Dalton

T.D. Williamson Tulsa, OK

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Miller Photography

VP, General Counsel


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Growing Better Together Jay Dalton merges T.D. Williamson’s family heritage and the ideologies driving the next generation to reboot his legal team By K E L L I L A W R E N C E

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T Stinnett & Associates congratulates Jay Dalton on his well-deserved professional recognition.

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The legacy behind T.D. Williamson Inc. (TDW) is driven by a deep commitment to the health and safety of its personnel, the general public, and the environment. The global manufacturer and services provider for the repair and maintenance of pipelines also has the distinction of being family-owned throughout its entire ninety-six-year history. This is how it was described to Jay Dalton by the chairman of TDW as Dalton contemplated coming on board as vice president and general counsel in 2014. Now that he’s been with TDW for more than two years, Dalton confirms that description’s accuracy. “What struck me, in a very positive way, was how I didn’t hear anything about profit in TDW’s priority list, which is something you hear quarterly in a publicly traded company,” Dalton says. He adds that the company also introduced him to the concept of extreme customer commitment for the first time. Considering his long career in the legal side of the industry, that’s saying something. But as Dalton dove deeper into his primary purpose at TDW—to restructure and build out the legal team—he quickly realized that he would face considerable challenges. Not only must he familiarize himself with the complexities of each of the fifty-plus countries in which TDW operated, but he also had to adjust to the expectations of a family-owned company. “I thought I had the skill set to do a pretty good job at TDW,” he says. “As it turns out, it’s the hardest job I’ve ever had in my life.” Something that reinforced this feeling for Dalton was his early realization that TDW’s legal department displayed more of a “gatekeeper” attitude than that of a service provider to the business function. Prompt, effective service to TDW’s business partners was not just a legal department priority, and an extended backlog of million-dollar contracts clearly reflected that fact. Dalton cites a conversation with a former senior lawyer at TDW who told him all he needed to know about the challenges ahead. “She was making the case that she felt it was good to have what she called a ‘healthy tension’ between the legal department and operations,” Dalton recalls. “And I said to her, as courteously as I could, ‘If you think your job is to come in here and give the businesspeople a dose of ‘healthy tension’ every day, you need to go find another job.’”

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“The moral of the story is that we will actually spend less by hiring fewer people . . . but we will hire more qualified and productive people, and pay them more.” JAY DA LTO N

He wasn’t joking. Two years later, only four of the eighteen individuals on staff at that time remain employed by TDW’s legal department. Dalton was asked to continue the restructuring by conducting a worldwide search for the kind of attorneys he felt would serve the company best—particularly with regard to the negotiation of contracts, which he describes as revenue portals. As a result, Dalton conducted roughly one hundred interviews at the Tulsa, Oklahoma, headquarters and abroad in only eighteen months. Even more amazing, perhaps, is that he describes the experience as a wonderful life event in his career. “Here I am, this old baby boomer lawyer, and I’m interviewing the best and brightest Gen Xers and millennials,” Dalton explains. “There wasn’t a single interview that I didn’t walk away learning something from each candidate.” Dalton also realized the importance of a work-life balance and the increased desire for diversity within the workplace for younger attorneys. He sees an undeniably tech-savvy generation with an expectation of short-order career advancement that wasn’t characteristic of his generation. “These kids are saying, ‘This is what I want to do, and I want to do it now . . . and maybe I’m not qualified to do


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this yet, but guess what? If you’re a good boss, you need to mentor me and make me ready,’” Dalton marvels. “Interesting.” Ultimately, Dalton’s legal hires for TDW possessed all the aforementioned traits as well as a deep interest in the quality of the work and a desire for connectedness with the company itself. And while the team is now smaller (fourteen rather than eighteen), Dalton says it’s also much more efficient than it was before. “The moral of the story is that we will actually spend less by hiring fewer people,” he surmises, “but we will hire more qualified and productive people, and pay them more.” But perhaps even more important is the renewed purpose projected by the team Dalton has assembled. Gone is the policeman mentality, replaced instead by the trusted business partner connection between legal and operations. That teamwork gives the company the upper hand where he feels it’s needed the most. “TDW has better risk profiles on most of its contracts . . . better decisions on how and when to exit Nigeria as a market . . . and better decisions on its import substitution strategy and ruble risk management in Russia,” Dalton says. “It’s about binding operations and legal in a way that the two together are better than the two separately.”

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At Stinnett & Associates, we focus on helping organizations manage risk and improve performance through customized, scalable solutions. Our industryleading services are designed to be integrated with a company’s key business activities to streamline processes, reduce costs and enhance controls.

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Baker & McKenzie applauds

Jay Dalton,

Vice President and General Counsel at T.D. Williamson for his notable accomplishments and distinguished career.


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A FAMILIAL FOUNDATION Family-owned for nearly eighty years, Ryan Companies’ core values provide a strong base for its internal culture and for ongoing HR initiatives By J E F F S I LV E R

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business strategy, highlighting them in training, and modeling them in how we treat each other and our clients.” To illustrate this, she refers to a period of coping with her mother’s battle with Alzheimer’s. CEO Pat Ryan went out of his way to share his own experiences with his mother’s illness and made himself available for support. The gesture highlighted how Ryan employees are considered part of an extended company family. Dockendorf integrates respect and integrity into relationships in all phases of the employee life cycle. All potential candidates get responses to their inquiries from the HR department. Every new hire receives his or her own business cards, has a computer, and a place to sit on their first day, which, she points out, doesn’t happen at every company. The approach creates an environment in which each person is welcomed as part of the team and as an individual, not just a number that’s being processed through an existing system.

Colleen Dockendorf SVP of Human Resources Ryan Companies US, Inc. Minneapolis, MN

Richard Fleischman

Colleen Dockendorf, senior vice president of human resources, spent most of her HR career at large, public companies. But when she joined Ryan Companies US, Inc. in 2008, she knew she had landed in the right place. The company’s smaller, more flexible environment and its corporate culture perfectly align with Dockendorf’s own professional priorities. “Processes and products change, but people don’t,” she says. “If you can reach them through their head, heart, and wallet in meaningful ways, they’ll feel engaged, productive, challenged, and like they’re being treated fairly.” Dockendorf has help addressing these goals by leveraging Ryan’s corporate culture, which is built on the core values of safety, integrity, respect, stewardship, family, excellence, and fun. “We don’t post signs on the walls to teach company values,” Dockendorf explains. “We live them every day and emphasize them by including them in our


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“Processes and products change, but people don’t. If you can reach them through their head, heart, and wallet in meaningful ways, they’ll feel engaged, productive, challenged, and like they’re being treated fairly.” COLLEEN DOCKENDORF

This extends to employee development throughout their tenure. The HR team uses Gallup’s StrengthsFinder to help gain insight into employees’ personalities and affinities, which leads to better communication and team-building. Even problem scenarios are addressed with a holistic approach customized to the individual. For example, there are no formal warning policies for factors such as performance matters. “We try to get to the underlying personal or professional issues, so we can solve the problem, not ‘fix’ the person,” Dockendorf explains. “It all starts with a discussion.” One of Dockendorf’s favorite aspects of HR is being able to develop relationships with employees in every department. She has introduced that component into Ryan’s training by intentionally including representative mixes from across the entire company. In its Emerging Leaders Group program (a ten-month, internal mini-MBA course), cross-functional and cross-regional training is included specifically to facilitate new connections, as well as additional expertise. As the company has grown to about 1,300 employees, relocation has played a part not only in fulfilling business needs, but also in connecting regions and departments, as well as furthering professional development. Dockendorf and her department also play integral roles in a number of company initiatives. Its five-year midterm strategy, the 20/20 Vision, is one of several aimed at recruitment, retention, and workforce growth. One part of the program is a new online portal that helps automate a number of functions that were formerly handled manually, such as performance management. Automatic reminders are now sent to employees so that

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INTEGRITY EXPERIENCE INDEPENDENCE

each individual can play a role in holding themselves and managers accountable for completing reviews in a timely fashion. “The new system emphasizes identifying forward-looking goals, so in addition to being more efficient, it’s much more proactive, with less looking back than the old paper process,” Dockendorf says. To help reinforce succession planning, identify high-potential individuals, and invest in employees’ professional development, the company is implementing a new formal mentoring program. It is intended to supplement ongoing training and ensure that staff has challenging responsibilities and the resources to successfully address them. Ryan’s existing focus on safety as a core value has been extended to include a health and wellness initiative. This includes biometric testing, online tools, and annual checks against personal goals, along with daily activities such as providing fresh fruit in most offices, adjustable desks, and encouraging standing or walking meetings. Dockendorf admits that measuring ROI for wellness is difficult, but indicates that insurance costs per employee have decreased since the program began. “In several cases, the wellness plan has identified critical illnesses that were previously undiagnosed,” she adds. “If we can do that just once a year, saving someone’s life more than justifies whatever the cost of the program might be.” Dockendorf sees connections with both employees and clients as embodying Ryan’s mission to create lasting relationships. “That extends beyond employees, vendors, and clients to communities,” she says. “We know the projects we build will impact them for decades to come.”

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• Wealth Management • Retirement Plan Consulting • Investment Advisory • Estate Planning • Executive Benefit Plans • Legacy Planning

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John Ryan III and John Ryan, Jr. are registered representatives of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/ dealer (member SIPC) and registered investment Advisor. Insurance offered through Lincoln affiliates and other fine companies. Ryan Financial Group is not an affiliate of Lincoln Financial Advisors Corp. CRN 159483-092016


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A Paradigm Shift in Therapeutic Research Zymeworks president Ali Tehrani explains the company’s role in changing the way drugs are designed By J U L I E E D W A R D S

Although Ali Tehrani has a master’s degree in biochemistry and a PhD in microbiology and immunology, he realized that conducting research was not for him. “I realized my strength was in being the voice for the scientists doing the research,” he explains. “In the world of innovation, you need the innovator as well as the person who is promoting and finding funding for the research. That was where I belonged.” In 2004, Tehrani cofounded Zymeworks (the “Zyme” comes from “enzyme”) in Vancouver, British Columbia. “After I got my PhD, I was deciding what to do next,” he says. “Investors asked me to look at some projects. But I could see there was a bigger opportunity—an opportunity to develop a rational, more intelligent drug design process.” Tehrani describes Zymeworks as a leader and top

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innovator in protein modeling and protein engineering. The company initially focused on industrial biotechnology applications in areas such as paper pulp and food—for example, using enzyme-based bleaching of paper pulp versus chemical bleaching. But the company’s leadership could see that Zymeworks would never have its own products; it would always be part of a process. As a result, the focus shifted to protein-based therapeutic applications. “We’re modifying the functionality of proteins,” Tehrani explains. “We look at the top players in the human immune system, such as antibodies, and make them more specific, more effective, in order to develop medications that meet the unmet needs of patients.” Zymeworks now focuses on immunooncology, using the immune system to fight cancer. “Antibodies are the soldiers of the immune system. They typically work on a 1:1

basis—one antibody to one foreign entity,” he says. “With our Azymetric platform, we can engineer it so that one antibody can recognize two different foreign entities or antigens. That makes it more specific—and more powerful in protecting a person. And we can engineer the Azymetric antibodies so that they’re tailored to recognize cancer cells.” Tehrani explains that cancer cells are typically “cloaked,” so antibodies can’t find them and cause their destruction. Azymetric antibodies can, in essence, uncloak the cancer cells, making the antibodies more intelligent and powerful. Zymeworks is also using AlbuCORE technology to help albumin proteins do their job more effectively so they too can be used to defeat cancer cells. Zymeworks is part of a paradigm shift in therapeutics research. As an analogy, Tehrani explains that in the past a builder would construct a building brick by brick and hope it would last for years. Then a hurricane would come along, and the building would collapse. Nowadays, buildings are designed by computers and heavily tested before construction begins. Likewise, in the old days, drug development was rather scattershot. When new drugs were in development, researchers had to guess which compounds seemed most likely to work and then would test those in the lab. It was a flawed system that often ended up wasting many resources. Today, the world is demanding more intelligent drug design. “We combine high-tech and drug design,” he notes, explaining Zymeworks’ digitization of the drug development process. “We take large numbers of permutations in drug development and narrow them down to those with the best probabilities, then we test only


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Ali Tehrani President, CEO Zymeworks Vancouver, BC

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There are new competitors blooming everywhere. Is your company agile enough to outpace them?

Using innovative thinking, approaches and tools, KPMG can help you adapt your business in the face of constant disruption. Learn more at KPMGinfo.com/transformation

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those in the lab. Our goal is to develop a product that is better through a process that is cheaper—and to get the products to market faster. Through our ZymeCAD technology, we develop a better understanding of a target disease, a drug, and how they interact. By being able to visualize it and study it, we’re able to manipulate it.” Tehrani notes that in the past it would take eight to fifteen years to get a drug to patients. They’re cutting that by one-third, or even one-half. “Intelligent drug design benefits patients and the community,” he adds. The company’s lead drug under development, ZW25, is used to treat breast cancer. It is in adaptive Phase l clinical trials, and if all goes as expected, the drug should be available to the public in 2021. Tehrani describes the corporate culture at Zymeworks as “lead, follow, or get out of the way.” He feels a leader is someone who paves a path, inspires others, and makes others look good when a job is accomplished. “We try to create a culture of leaders here,” he says. “It’s better to do it right rather than to do it faster. People’s lives depend on how we do our jobs.” He describes his role as president of the company as being the visionary and strategist who ensures that the company is relevant, exciting, and is generating shareholder value for investors. He says his management strategy is different from most. “I surround myself with very smart specialists, to generate a strategy that takes into account many different points of view,” he says. “I’m on the front lines surrounded by my generals. We execute as a team.” Zymeworks is currently collaborating with big pharma, and the company’s work has been heavily validated externally. “We have signed deals with Merck, GSK, Eli Lilly, and Celgene,” Tehrani says. “They’re using our technology and capabilities to build next-generation therapeutics. That is rare for a biotech firm. That puts us in the top 10 percent of biotech firms.” Tehrani knows that work isn’t the only place to find true rewards. Outside of his job, his three passions are being a husband (“my wife is my best friend”), being a dad to his wonderful son, and training with CrossFit. But at the office, he says that the most rewarding aspect of his job is getting to work with some of the smartest people on the planet who are doing what they love—as well as having a positive impact on patients’ lives. “I read once that you have to look to help people who can never thank you and will never know you,” he says. “That had a big impact on me. Here at Zymeworks, it’s not about the paycheck or the accolades. It’s about making a positive difference and utilizing the time we have on this planet the best way possible.”

©2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Some of the services or offerings provided by KPMG LLP are not permissible for its audit clients or affiliates. 192

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P E O P L E + C O M PA N I E S

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A+E Networks 156 Alliant Technologies 60 AstraZeneca 22

General Growth Properties 53 Green, Stacy 156 Grimminck, Tony 37 Grosso, Patrick 62

B Bagan, Sean 123 Becker, Steven 87 BMO Financial Group 26 BorgWarner 136 Brannan, Anna 44 Buhr, Cindy 40

C Caldwell, Lisa Campus Management Comley, Kirsten

170 80 143

H Hammer, Annie 100 Harlan, Leigh 82 Hasson, David 136 Heckel, Sharon 178 Hocking, Tim 70 HotelTonight 37 HUB International 148

I iHeartMedia 166 Inendino, Vince 141

J Janicki, Paul 64

Deb Deters outlines why technology solutions are paving the way for the future of HR initiatives.

K Keiser, Chris 94 Kia Canada 112 Kilroy Realty 12 Learn how iHeartMedia is changing today’s media landscape.

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L Lancaster, Ted Levine, Marvin Lund, Chris

112 53 182

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Dallas Stars 8 Dalton, Jay 184 Danaher Corporation 104 DeMarsilis, Sallie 107 Deters, Deb 148 Di Leonardi, Agnes 126 Diamond Offshore Drilling 15 Dockendorf, Colleen 188 Doyle, Holly 131 Ducommun, Inc. 153

Maryniarczyk, Tom 34 May, John 57 Mazda Canada 126 Movado Group Inc. 107 Mylan 91

N Neo Group Nessen, Anders Newhook, Alana

18 80 8

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Deb Deters, Alana Newhook: Kristin Deitrich; Concert: Denise Truscello

Ellis, Brian EveryWare Global Evine Live Extreme Reach

104 174 30 96

F Flagship Credit Acceptance 94 Flitcroft, Bruce 60 Fournier, Joseph 50 Fry, Jim 118

Alana Newhook combines her knowledge of law with her love of hockey.

8

148

P

U

Page, Andrew 74 Peterson, Lynnsie 22 Polaris Industries 123 Pollack, Jason 160 Pontoon 100 PrimeLending 40

U-Haul International, Inc. 131 Under Armour 74 University of Michigan Health System 50 Urban Outfitters 143

R Reynolds American Inc. 170 Roger, Lynn 26 Rogers, Rose 153 Roland, David 15 Roland, John 96 Roth, Heidi 12 Ryan Companies US, Inc. 188

V Vashistha, Atul

18

W Walmart Canada Williams, Tres

34 166

Y YRC Worldwide 118

S

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Schoenberger, Erika 174 Schramm, Damon 30 Sierra Nevada Brewing Co. 64 Skullcandy 62 Skyline Hotels & Resorts 182 Smith, Michael 91 SolarCity 178 Southern Glazer Wine & Spirits 87 Standard Industries 160 Symantec 44 Symcor 70

Zymeworks 190

T T.D. Williamson 184 Tehrani, Ali 190 Tiffany & Co. 82 TPUSA, Inc. 57 TransUnion 141

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PROFILE

Required Reading Check out these influential resources for lifelong learning in both business and life. The following recommendations come from some of our featured executives in this issue of Profile.

Do you have a book that you consider essential reading? Send it to editor@ profilemagazine.com

THE LEADER WHO HAD NO TITLE

TOUCHING THE VOID

TEAM OF TEAMS

THE CONFIDENCE CODE

Joe Simpson

General Stanley McChrystal

Katty Kay and Claire Shipman

Recommended by Patrick Grosso, chief legal officer, vice president of strategic initiatives and corporate affairs at Skullcandy, 62

Recommended by Alana Newhook, vice president, general counsel of the Dallas Stars, 8

Robin Sharma Recommended by David Hasson, vice president of tax at BorgWarner, 136

Robin Sharma shares insights on how to work with and influence people regardless of your position, secrets of innovation, tactics on becoming mentally and physically strong enough to lead your field, realworld ways to defeat stress, and a variety of other tips for becoming a leader in your professional career and in life. “[The Leader Who Had No Title] really correlated to a lot of my leadership beliefs and has applications not only in the work world, but in one’s personal life as well,” Hasson says.

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Recommended by Tony Grimminck, chief financial officer of HotelTonight, 37

In 1985, Joe Simpson and Simon Yates ventured out to climb the Siula Grande in the Peruvian Andes. What started as a physical and mental challenge soon turned disastrous and into a near fatal climb. How both men overcame the fear and suffering in those harrowing days is not only a testament of their determination, but a story of courage and friendship, as well. “[Touching the Void] is an amazing story of courage and perseverance. Never give up,” Grimminck says, adding that he is not a big fan of “management” books, but rather “nonmanagement” books that offer important lessons.

General Stanley McChrystal chronicles the challenges he and his colleagues faced while fighting Al Qaeda in Iraq and how these obstacles can be relevant to countless businesses, nonprofits, and other organizations. “[Team of Teams is an] amazing book about creating cross-functional alignment among multiple different teams/ disciplines, with different (sometimes competing) priorities, facilitating effective communication, and developing shared goals,” Grosso says.

By combining research in genetics, gender, behavior, and cognition, Katty Kay and Claire Shipman offer inspiration and practical advice that women need in order to achieve the career goals they want and deserve. “I am a voracious reader. But recently, most of the books on my list are focused on emotional intelligence, leadership, psychology of decisionmaking, and research on gender, behavior, and confidence from a woman’s perspective,” Newhook says.


Fresh Thyme is the fastest growing specialty retailer in the Midwest Our stores boast an extensive produce selection of organic and local fruits and vegetables, focusing on value-priced fresh, healthy, natural and organic offerings. We also feature natural meat department, healthy deli foods to go, bakery goods, 300 bulk food bins, dairy and frozen, and health supplement products.

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Learn more at freshthyme.com/careers 2650 Warrenville Rd, Downers Grove, IL 60515