The week that was in the finance community
PPC and TymeBank have new CEOs, an interview with Clinix CFO Elisa Mkhize and more.
Finance professionals play a vital role during a mergers and acquisitions (M&A) process. CFOs or financial directors go beyond the reporting role when assessing a potential deal. They are often tasked with making the financial metrics of a deal work, creating cost and integration synergies between the acquirer and acquired.
CFO South Africa, which is M&A Africa’s sister publication and website, is close to financial professionals and their circles. Here’s what had the finance community talking this week.
Why long-term business success requires early adoption of key technologies
Brett Terespolsky explores how data analytics can be used to make more forward-looking, proactive decisions and to foster more collaborative relationships.
“When assessing the risk landscape, one of the greatest internal threats is complacency - and failure to evolve and adapt to digital transformation. This complacency can see businesses losing market share to more agile and digitally savvy rivals. Similarly, complacency around cyber security and data privacy has seen companies fall into financial and reputational ruin.” Read more here.
A boring job? Here's why accountants are sex, drugs and rock & roll
Accountant and entrepreneur Liezl Berry conducted an audit into whether accounting really is the most boring profession.
“Accountants are at a high risk of developing alcohol problems because of the very demanding environments in which they work according to a psychologist who specialises in helping accountants with alcoholism. The nature of the work is inherently stressful and this is compounded by stress triggers like meeting deadlines and managing major clients and staff,” said Liezl Berry. Read more here.
An interview with Clinix CFO Elisa Mkhize (pictured)
Elisa Mkhize has two mantras that she lives by. The first is: Success begins from within before it manifests on the outside. “This is why I do a lot of work on myself,” she says. The second is: Always do the right thing. “Everyone knows what the right thing is. You just have to gather the courage to do it. I live by those two mantras, and that’s how I find myself where I am today.” Read more here.
Embracing cloud instead of “cloudish” solutions is how Workday keeps up with the pace of innovation
Workday’s Zuko Mdwaba explores why cloud solutions are important. According to Zuko, having the right technology to support your business is critical: “Uncertain economic conditions will force CFOs to evaluate their existing technology to ensure they can respond to change, and quickly take advantage of opportunities when they arise. You have to be ready for change, and that means being built to change.” Read more here.
PPC appoints former LafargeHolcim CEO as Roland van Wijnen
The PPC board announced the appointment of Roland van Wijnen as its new CEO on Wednesday (26 June). He will replace Johan Claassen, who retired in November 2018.
Roland has signed a four-year contract and was expected to take over from Johan as soon as he received a work permit. He will be tasked with building and developing the executive team and accelerating the process of turning PPC into a high-performance organisation that offers superior products and solutions to customers throughout its leading positions across Africa. Read more here.
TymeBank appoints former Nedbank executives as board members
TymeBank released a statement on Tuesday (25 June) announcing the appointment of a number of leading business figures as board members and the resignation of its CEO Sandile Shabalala. The appointments include former Nedbank: group executive Thabani Jali; CEO Tom Boardman; and group executive for retail and business banking Philip Wessels. Read more here.