CFO说 第2期

欧宝CFO Michael Lohscheller

"To run a marathon you need a reasonable basic speed， but you also have to sweat it out and ideally pick up the pace a bit towards the end. That has a lot in common with what we are doing here，" said the former Volkswagen fi nance manager， who has parti cipated in 75 marathons since 1987."We cannot just take off in a sprint and then be completely out of breath aft er three months， we need to be able to sti ck to our speed and maintain it - endurance is extremely important. Opel’s recovery is a long term project.""We’re saving money in many parts of the business， but not when it comes to product investments or quality，" added Lohscheller."By choking producti on we can withdraw from less profi table business. We then take out the pressure to push volumes in the market and reduce our inventories， so costs drop，" he said.

2012年9月，Michael Lohscheller作为欧宝汽车的新CFO上任。在一次采访中他表示，“通用汽车公司有毅力扭转欧宝汽车在欧洲的困局，并规划了欧宝接下来10年的发展布局。”“在跑马拉松时你必须合理掌控基本速度，苦撑下去，接近终点时适当加快步伐。这跟我们经营事业有诸多共性。”这位前大众美国CFO自1987年以来参加过75场马拉松比赛。“我们不能连续全速跑，三个月下来就筋疲力尽了。我们需要做的是坚持巨大的发展忍耐力，欧宝的复苏是个长期工程。我们在许多环节节约开支，但是产品生产及质量提高方面的支出是不能省的。通过缩小低利润产品的生产规模，减小市场压力，去库存化，以此来降低成本。”

LPL Financial CFO Dan Arnold

As CFO， he said he will continue to manage the public company’s capital with a “strategic outlook” and to align LPL’s investments to expand its capabilities， enter new markets and drive more automation and productivity to all its constituents. Indeed， Arnold says， LPL has expanded the definition of its CFO role. Along with the compulsories that go with CFO life， he will， in the free-skate portion of the program， draw from his prior role at LPL as managing director， head of strategy. Specifically， Arnold will focus on emerging trends， ideas， and opportunities to expand the company’s business model， assess the long-term consequences of change in the industry， and partner with the finance department to align strategic plans with multiyear financial forecasts， according to his biography on the LPL website.

LPL Financial，美国最大的独立经纪自营商。2012年6月新上任的CFO Dan Arnold表示，他将继续从“战略观点”出发对这家上市公司的资本进行管理，拓展LPL资本的投资功能、市场扩张以及推动其自动化和生产力。 Arnold说，“作为LPL的CFO，其角色范围更广了。除了规定职能外，还将根据之前在LPL担任董事总经理和战略主管角色之间进行自由规划，既要关注新趋势、新想法和新机会来扩大公司的商业模式，又要评估行业变革的长期后果以及同财务部门的合作，使战略规划同多年财务预测相一致。”

Electrolux CFO Tomas Eliasson

With almost 12 billion in revenues， Electrolux is one of Sweden’s largest companies. To remain competi ti ve， it strives for operati onal excellence， because the need to improve effi ciency never stops， says CFO Tomas Eliasson.“If I look at Electrolux， it has been very good at defending its Ebit margin， very good at rati onalising and increasing producti vity in areas such as purchasing， costs， working capital and so on. It’s a machine， an operati on， which is running very well. We have a strong cash fl ow， sound balance sheet， good cash positi on， and good returns on assets. What is missing is growth. If you adjust for sell-off s， spins-off s and so on and just look at the core business， then we haven’t really had any substanti al growth for 10 years. And that is what is missing. You cannot survive on cost cutti ng and producti vity increases alone. You need to combine operati onal excellence and growth. So for me， profi table growth is on the top of the agenda. That’s what we have to do.”

年收入近120亿欧元的Electrolux（伊莱克斯）是瑞典最大的公司之一，也是世界最大的商用电器生产商。“为了保持竞争力，公司力求在管理上做到精益求精， 因为对高效率的追求没有终点。”CFO Tomas Eliasson如是说。“在我看来，伊莱克斯精于息税前利润率的提高，以及对于采购、成本、资本运营等方面的管理既合理又能创造价值，就好比一台运作良好的机器。我们有强大的现金流、健康的资产负债表、良好的现金头寸和乐观的资产回报，唯一不足的就是增长。如果对资产进行分离，我们就能清楚的看到10年来核心业务并没有实质性增长。一个公司不能只靠削减成本和提高生产力来存活，它需要将运营和增长良好地结合在一起。 对我来说，盈利的增长在议程的首位。这是我们真正需要做的。”