Feature relationship ?
Swann adds : “ I think lockdown and meetings on Zoom makes you really appreciate getting together in a face-to-face environment and people have really been missing that . “ We have certainly experimented with a number of initiatives and have realised that we need to engage our communities , all year round rather than the annual show cycle . I am not sure we will ever replace the live experience although by listening to our customers and having more regular engagement we are in a better position to retain them and provide other opportunities across different channels .”
Grover says that he doesn ’ t see live events being threatened by digital but sees the digital experience enhancing live events .
Swann points out that “ digital enabled us to continue engagement with our communities and bring in much needed cash . We really needed to do something so tried different things some of which worked well others not so . As these things got more successful , of course we ’ re investing more in these things so of course , obviously we ’ re accountants , we want to see a return .”
So , is Simm looking at setting stretch targets for digital revenue ? “ I think the key in finance roles is not just setting the target because at the end of the day it ’ s a number on a piece of paper , but helping our teams to think through what that means in real life . We might start off with a target and then try to turn it into a meaningful operational ambition , turning a three-year plan into a practical process to help the business achieve their ambition .”
MOST CEOS ARE OPTIMISTS …
We then move on to the relationship between CEO and CFO / FD , and I am intrigued by the dynamic that exists and whether tensions exist , what then in their view makes for a good
Swann : “ I think that really depends on the personality of the CEO or CFO . Because really , that partnership needs to be complimentary most CEOs I have worked with tend to be optimists and most financial people are the opposite . That said I have worked with other CEOs who are relatively conservative and cautious were I found myself being the one to dial up the optimism – scary . I think it ’ s really important to reflect on discussions , viewpoints and ambitions with someone else who ’ s opinion you value which is essentially the key to the relationship between the CEO and the CFO . “ It is also really important to get a clear idea of the differences between your roles at the outset but ultimately we want the same thing , a thriving , growing company . My job is to challenge and support the CEO to make well informed decisions ; we might not always agree but I try to ensure the consequences of those decisions are clearly
“ It ’ s really important to reflect on discussions , viewpoints and ambitions with someone else who ’ s opinion you value which is essentially the key to the relationship between the CEO and the CFO .”
June — 43