Perspectives – Andy Long – Co-President and Chief Financial Officer, Speedo International

Co-President and Chief Financial Officer, Speedo International

Only a relatively small proportion of professionals who have shaped the treasury activities in their organizations most effectively spend their whole careers in treasury. Indeed, many of those who have been most successful bring a wider range of skills and experience. Andy Long’s commercial, financial and project delivery capabilities have benefitted the treasury functions with which he has worked considerably; conversely, his treasury skills have proved an important attribute in his subsequent senior executive role.

Tell us a little about your career history and what your key responsibilities are today.

I started my career as a graduate recruit in finance at Procter and Gamble and qualified through CIMA. After several commercial roles in the Cosmetics and Haircare divisions, I led part of the project to introduce financial shared services in Europe. The biggest part of my role was managing the European banking operations, working closely with the regional and global treasurers to ensure we implemented the cash management policies effectively as well as operating one of the first in-house banks.

My treasury knowledge adds depth to my understanding of some of the dynmaics that impact our business.

I then joined Boots plc as Finance Director for Manufacturing and Support Services, before leading the SAP implementation programme, firstly in finance and then across the enterprise. Introducing the SAP treasury module to Boots was part of this project and consequently, I received the support of the company to study for Associate Membership of the ACT. Having worked closely with treasurers in both organizations, it was a great opportunity to fill the gaps in my knowledge and enable me to offer better value in delivering a complex change programme.

Today, I am co-President of Speedo International, the world’s leading swim brand. I joined two years ago as Chief Financial Officer. My responsibilities have gradually increased so that I am now responsible for sales, business development, sourcing and HR as well as finance.

How has your corporate treasury experience benefitted your role at Speedo?

The amazing thing about treasury is how much more relevant the key elements of what the treasurer has historically managed have become to the leadership of a business as a whole — globalization has brought to the fore issues around both exchange rates and cash flow as we consider where to source and the price/volume relationship, while a strong understanding of cash flow management has become critical as the power of the private equity world has increased. Even in a very wide role, I find that my treasury knowledge adds depth to my understanding of some of the dynamics that impact our business and has a direct impact on some of the decisions we make — for example in sourcing.

How would you describe your management style?

I would like to think I am approachable and a team builder, while never being afraid to duck the big decisions that only I can take — of course my team may describe me very differently!

What additional skills do you think treasury professionals need to develop in order to be an effective CFO?

There’s obviously no single answer to that as it depends on the individual. The biggest generic challenge is moving from an environment where you are the one with all the skills and information to deliver an answer - or at least well argued recommendation - to a far broader commercial environment where decisions must be influenced indirectly to ensure that finance considerations are factored into decisions.

What personality attributes do you think make a good CFO?

I think what has ultimately worked best for me is a desire to make things simple - I get very frustrated when issues are presented in an opaque way, so I have got used to deconstructing everything to try to make sense of it myself — at that point, it’s often easier to engage a team in working through the problem with you. And of course a sense of humour is obligatory!

What advice would you give to other corporate treasury professionals who are planning their career with a view to taking on a CFO role?

I would recommend getting as much exposure to as many parts of the business as possible. I’ve learnt so much in unexpected ways which has both shaped what I’ve wanted to do and helped me get the most out of it. It’s amazing where you can add value with what you already know and what you have learnt from parts of the business you might otherwise never have reached.