Many factors determine the fate of an organisation, right from the quality of its personnel to product margins. However, the one that can make a world of difference is the dynamic between the organisation’s CXOs. The fourth edition of ICICI Bank and CNBC-TV18’s ‘India Business Summit – Leaders Speak’, which recently concluded in Chennai, delved into the importance of one such equation – that between the CEO and CFO.
Kicking off the Summit was a rousing opening address by Sumit Sanghai, General Manager, ICICI Bank, who meditated upon the growing convergence between the two roles. Adding that the latter’s function is no longer limited to finance, Sanghai brought up an interesting aspect of this transformation – the need for CFOs to have a complete understanding of the organisation’s strategy and operations.
This was followed by an engaging chat between CNBC-TV18’s Latha Venkatesh and R. Dinesh, MD, TVS Logistics Service and Joint MD, TV Sundram Iyengar & Sons. The logistics heavyweight charted the journey of the company, which was started to support other functions within the group. Their conversation was filled with insights that transcended industries and geographies.
However, the highlight of the evening was a special address by 5-time Chess World Champion Viswanathan Anand. One of India’s brightest minds stressed upon the importance of trying new things, challenging oneself and above all, enjoying what you do, in order to succeed – in sport, business and life at large. He cited examples from his own illustrious career, making the case for resisting complacency.
Last but not the least, an enlightening discussion brought together brilliant minds like TT Srinivasaraghavan, MD, Sundaram Finance Holdings; Gopal Mahadevan, CFO, Ashok Leyland; Rajiv Mittal, MD & Group CEO, VA Tech Wabag; S Chandramohan, President and Group CFO, Tractors and Farm Equipment; and Vishakha Mulye, Executive Director, ICICI Bank. The distinguished group deliberated upon how the CEO-CFO relationship can help businesses create value in a dynamic environment. Their conversation brought many important ideas to the fore, the most notable of which was Rajiv Mittal’s observation that CEOs tend to be quite idealistic. The CFO, he said, “has to show the things that can go wrong and help in managing those risks.” This combination of optimism and pragmatism can be the key to a company’s success!
Like the past editions, the event in Chennai was a veritable fount of knowledge for entrepreneurs everywhere. This is undoubtedly going to be the case for the two editions still to come as well.
