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Before the pandemic, chief financial officers were a critical part of any organization’s C-suite. Since then, their work has only grown in value.
Their timeless roles of overseeing finances and fiscal operations were heightened as companies sought to re-establish themselves through the recovery. This year, as with the past several years, CFOs were central to that mission.
One example is Royal Caribbean Group. Its three cruise lines and joint ventures, like all its rivals and the entire travel sector, were hit hard during the pandemic. Following an extended shutdown, the company returned to operations – and profitability. The company and CFO Naftali Holtz have proven that optimism and a commitment to performance can drive returns.
The same is true for all the CFO Awards honorees. From Fortune 500 corporations to growing companies and nonprofit organizations, CFOs play an outsized role in guiding daily operations with a focus on long-term performance.
This year’s honorees were feted May 2 at the Sport of Kings Theater at Gulfstream Park in Hallandale Beach. The event was presented by Steven Douglas, with corporate sponsors Berkowitz Pollack Brant Advisors + CPAs and CIBC, Out of the Box Sponsor Amazon and Travel Sponsor Delta Air Lines.
Thanks to former CFO Awards honorees Ira Burns of World Kinect, Chris Clements of the Miami Dolphins and Dawn Javersack of Nicklaus Children’s Hospital, who served as an advisory board to assist our editorial team in vetting this year’s nominations.
Companies with revenue less than $30 million
Winner: David Spinola
President, SproutLoud Media Networks LLC
www.sproutloud.com
15431 S.W. 14th St., Sunrise 33326
954-476-6211
Birthplace: Boston
Education: B.B.A., University of Notre Dame; MBA, Harvard Business School
Career: CFO, SproutLoud Media Networks; CFO, Academy Medical; VP, Brockway Moran & Partners; VP, CHS Capital
Key accomplishments in the past year: I assumed oversight of our client services function, which grew otherwise missed revenue opportunities. We also built SproutLoud’s first balanced scorecard for key corporate metrics, along with a shared weekly dashboard capturing the most relevant KPIs for each department.
How AI will change my job: It will let us all “level up.” We are already deploying AI as a tool to smooth the pain points of our processes. Optimizing my team’s time is letting us all tackle opportunities we didn’t previously have the bandwidth for.
Tip for protégés: There’s always more to do. The sooner you master your current assignments, the sooner I’ll open up additional ways for you to contribute. And don’t be shy about sharing what you like to do.
Professionally, I’m kept up nights by: Not much, candidly. Working as an investor, I learned that you can’t eliminate risk. You can only assess it, mitigate it and ensure that the juice is worth the squeeze, as my old boss used to say.
My second career would be: A college professor. I love coaching and teaching, and I think I can greatly contribute in the formal environment of a classroom.
The most important lesson my mentor(s) taught me: You’re paid for your opinion. Be prepared and, when we ask, don’t hesitate to tell us what you think.
Finalist: Julia Aquino
CFO, Xendoo
www.xendoo.com
6700 Andrews Ave., Suite 300,Fort Lauderdale 33326
954-371-9881
Birthplace: Hialeah
Education: B.S., finance; MBA, accounting, Florida Atlantic University
Career: Founder and CEO, All Systems Grow; founder and CEO SheDefined; VP, strategy and analytics, Dental Plans
Key accomplishments in the past year: Xendoo incorporated a corporate training program for onboarding accountants, resulting in a 16% increase in employee retention; architected and implemented a data program and executive KPI dashboard; and created new systems and processes that increased productivity and supported the company’s 40% growth.
How AI will change my job: AI, when used prudently and properly, will ultimately allow for more “time,” which will allow for more innovation, strategy and impactful decision-making, which will end up increasing the bottom line.
Tip for protégés: Show up. Every single day. Work hard, consider others and remember you are capable of great things.
Professionally, I’m kept up nights by: Making sure we have the right team in place, and that they are content and growing in their roles.
My second career would be: Interior designer
The most important lesson my mentor(s) taught me: Meet people where they are. Recognize their strengths and provide opportunities to work in their strengths.
Finalist: Benjamin Yogel
CFO, Social Mobile
www.socialmobile.com
2057 Coolidge St., Hollywood 33020
917-363-9897
Birthplace: Philadelphia
Education: Bachelor’s degree, economics, University of Pennsylvania; MBA, Columbia University
Career: Managing partner, MRC Capital Group; CEO, Vanda Funding LLC; Lead director, Hampshire Group Ltd.; chairman, Frontera Investment
Key accomplishments in the past year: We revamped the company’s financial and accounting systems by implementing new ERP, and closed a $35 million credit facility with Citibank.
How AI will change my job: It will allow for more automation of forecasting for manufacturing inventory.
Tip for protégés: Always let your staff know they should tell you bad news faster than they tell you good news.
Professionally, I’m kept up nights by: Employees being afraid to tell me bad news. By hiding it, they make problems worse.
My second career would be: Coaching sports, specifically crew
The most important lesson my mentor taught me: Don’t extrapolate your personal life and experiences on a broader market when making investment decisions. Just because you personally think a product is necessary, it doesn’t mean the broader market will want it.
Companies with revenue $30 million to $200 million
Winner: Sonia Canessa Gonzalez
Executive VP and CFO, International Finance Bank
www.ifbbank.com
777 S.W. 37th Ave., Suite 700, Miami 33135
305-648-8895
Birthplace: Buenos Aires, Argentina
Education: Undergraduate degree, economics, Universidad de Buenos Aires; master’s degree, accounting, Florida International University
Career: Senior VP, central operations, First American Bank; senior VP, CFO, Continental National Bank N.A.; executive VP, CFO, First Bank of Miami; controller to senior VP, CFO, Bristol Bank
Key accomplishments in the past year: I oversaw substantial improvements in internal controls and audit results, and [management of] the bank’s balance sheet to ensure implementation of a FDICIA compliance plan before crossing the $1 billion threshold in 2023.
How AI will change my job: I am genuinely in awe of the potential for amazing and terrifying consequences of AI in all aspects of life and business. The biggest issue for me is not if it will change my job, which it will, but the fact that, for the sake of progress, we are letting such a transformative technology be an experiment without controls.
The most important lesson my mentor(s) taught me: Integrity and trustworthiness are critical in my job and in my industry in general.
My second career would be: Interior decorator
If I could ask one executive one question, I’d ask: What is the most important trait you look for in your team members?
Tip for protégés: Opportunity is a train. How quickly you get to where you want to go depends on how early you get on it. Also, “dress” for the job you want, not for the one you have – meaning you need to show that your skills and reliability would be well situated in that dream job if you were promoted.
Finalist: Alex Brau
CFO, Ascendo Resources
www.ascendo.com
2 Alhambra Plaza, PH 2-A,Coral Gables 33134
786-362-2255
Birthplace: Miami
Education: B.B.A., finance and economics, master’s degree, accounting, Florida International University
Career: Senior VP, operations, finance and accounting, Inter Miami CF LLC Soccer Club; VP, business operations and strategic finance initiatives, MasTec; controller to CFO, Service America; director, corporate accounting, Aero Turbine; manager, corporate accounting construction services, MasTec Network Solutions; manager, corporate treasury and accounting, Metals USA Holdings
Key accomplishments in the past year: I led the digital transformation of Ascendo; established and led the RISE HQ program; implemented strategies that resulted in $650,000 in savings in 2023; and renegotiated new terms with vendors to save the firm over $1 million over two years.
How AI will change my job: AI is set to reshape our approach to financial management, strategic planning and operational agility. It’s critical that business retains a “people first” mindset because it is people who will be leveraging AI in new and creative ways to improve the business.
The most important lesson my mentor taught me: Do great work, have fun and help others.
My second career would be: Making education accessible for everyone, no matter where they live or how much money they have.
Tip for protégés: Focus on what you can control and do your best.
Finalist: Mario Robaina
CFO, Housing Trust Group
www.htgf.com
3225 Aviation Ave., 6th floor,Miami 33133
305-860-8188
Birthplace: Miami
Education: B.S., industrial engineering, Stanford University; MBA, University of Miami
Career: Senior analyst, manager and VP, finance, Cornerstone Group; manager and director of finance, Flagler Development; senior analyst, Capital Guidance Corporation; financial analyst, Smith Barney
Key accomplishments in the past year: I navigated complex financial structures and elevated HTG’s total real estate transactions from $3 billion to $4 billion, adding Illinois as a new market, increasing its focus on Texas, and expanding HTG’s current presence throughout Florida and Arizona.
How AI will change my job: Those who are quick to adopt and use this new technology will prosper at the expense of those who are slow to act and take advantage of the huge potential increases in productivity.
The most important lesson my mentor(s) taught me: Treat everyone with respect and try to understand their motivations. It makes it much easier to find situations that can be wins for both you and them.
My second career would be: Chef. I love the creative aspect of putting together a meal and watching how happy that can make people feel.
Tip for protégés: Become an expert in some key aspect of the organization where you work. Once you have done that, become an expert in another facet, and so on.
Companies with revenue more than $200 million
Winner: Carmen Sabater
CFO, Quirch Foods LLC
www.quirchfoods.com
2701 S. Le Jeune Road, 12th floor, Coral Gables 33134
305-691-3535
Birthplace: Miami
Education: B.B.A., MPA, University of Miami
Career: Deloitte
Key accomplishments in the past year: In 2022 and 2023, the CFO-led team spearheaded the company’s integration strategy resulting from the acquisitions of companies and 15 distribution centers, as well as additional acquisitions that expanded the company’s geographic footprint and portfolio of products and solutions.
How AI will change my job: Responsible use of AI will augment finance decision-making and elevate team members to more critical thinking …. Artificial intelligence will not replace human intelligence; it will, however, improve how decisions are made and how quickly teams can be proactive to changing a business landscape.
Tip for protégés: Show up prepared, have a bias for action and don’t be afraid to ask for help.
Professionally, I’m kept up nights by: I don’t have many sleepless nights knowing that I’ve given my all to the day’s challenges and opportunities with high integrity, and that I’ve done all that I can to help others succeed as a team.
My second career would be: Professional golfer, although my handicap would not agree.
If I could ask one executive one question, I’d ask: Warren Buffett and the late Charlie Munger of Berkshire Hathaway how they found a way to remain so exceptionally sharp at even an advanced age.
The most important lesson my mentor(s) taught me: “Don’t be afraid to ask questions; having intellectual curiosity leads you to build teams around you that are trustworthy and smarter than you.”
Finalist: Dennis R. Garcia
CFO, Postal Center International
www.surfpci.com
2965 W. Corporate Lakes Blvd.,Weston 33331
754-215-8201
Birthplace: New Jersey
Education: Master’s degree, accounting, St. Thomas University; MBA, University of Miami
Career: Senior VP and CFO, Valor Corp.; financial controller, Belzona; controller, BAC Florida Bank
Key accomplishments in the past year: Under my guidance, PCI has achieved record financial results and made significant strides in corporate governance and societal impact. I helped oversee the complex acquisitions of Arrowmail and Original Impressions, and the company expanded into Texas and New England.
How will AI change my job: AI will transform strategic planning by providing data-driven insights for initiatives like mergers and acquisitions, capital allocation and expansion strategies.
Tip for proteges: Cultivate a growth mindset and embrace feedback as a tool for learning and improvement. Be open to receiving constructive criticism … and use it as an opportunity to reflect on your strengths and areas for development.
My second career would be: Adjunct professor
The most important lesson my mentor(s) taught me: The power of resilience in overcoming adversity [and] the importance of staying resilient in the face of challenges, bouncing back stronger and using setbacks as opportunities for growth.
Finalist: Frank Richter
CFO, Ilumed
www.ilumed.com
775 W. Indiantown Road, Suite 4, Jupiter 33458
561-801-5985
Birthplace: Bronx, New York
Education: B.A., economics, Fordham University; B.S., accounting, Florida Atlantic University
Career: VP, data analytics, Conviva Care Centers; VP, finance to senior VP, information services, Metropolitan Health Networks
Key accomplishments in the past year: We grew membership for Ilumed to 54,000 from 23,000.
How AI will change my job: AI has the potential to revolutionize my job by strengthening capabilities, improving decision-making processes, and driving greater proficiency and effectiveness in financial management.
Tip for protégés: Do not give up and continue to expand your skills.
Professionally, I’m kept up nights by: Wanting to stay informed about industry trends and then streamlining the best financial processes.
My second career would be: Doing something with my hands, like a trade.
If I could ask one executive one question: I’d ask Bill Gates: What’s the secret?
The most important lesson my mentor(s) taught me: Continue adapting and learning as the market changes and technology evolves.
Public Companies
Winner: Jarrod Langhans
CFO, Celsius Holdings
www.celsius.com
2424 N. Federal Highway, Boca Raton 33431
561-289-2088
Birthplace: Tucson, Arizona
Education: B.S., master’s degree, accounting, University of Florida
Career: Various positions to CFO, VP investor relations and corporate controller, Primo Water Corp. divisions; audit senior manager, CBIZ Kirkland, Russ, Murphy & Tapp; audit senior and audit staff, Cherry, Bekaert & Holland
Key accomplishments in the past year: I led revenue growth of over 300%, to surpass $1.3 billion in fiscal year 2023, while also building out the finance function. I oversaw the financial and strategic elements of PepsiCo’s investment in Celsius and the long-term distribution agreement.
How AI will change my job: AI will be important as we look to better utilize all of the datasets to better manage and run our business, including AR and AP management, IT security, sales activity and marketing.
Tip for protégés: A sense of urgency is a good attribute but rushing to the finish lines will often result in missing something …. Poco a poco – little by little – we will get there.
Professionally, I’m kept up nights by: We have so many opportunities, but only 24 hours in a day, so I often find my mind wandering in the middle of the night, walking through all of the strategies and opportunities we have and trying to sort through timing and sequencing, as we can’t do them all at once.
My second career would be: Something more hands-on, learning a skill such as electrician and becoming more of an entrepreneur.
The most important lesson my mentor(s) taught me: Always build a strong bench that you can lean on and rely on. Also, being the smartest person in the room on all topics is a detriment.
Finalist: Mark Kempa
Executive VP and CFO, Norwegian Cruise Line Holdings Ltd.
www.nclcorp.com
7300 Corporate Center Drive,Miami 33126
305-468-2339
Birthplace: Rochester, New York
Education: B.A., accounting, Barry University
Career: Successive roles over more than 20 years with the company; assistant controller, International Voyager Media
Key accomplishments in the past year: I led the strategic financing plan of NCLH’s latest order for eight ships across its three brands. Between 2022 and 2023, we strengthened our balance sheet and enhanced financial flexibility. And in 2023, we reported three consecutive quarters of operating cost improvement.
How AI will change my job: For me, AI is a tool for strategic decision-making, operational efficiency and competitive advantage. In the cruise industry, AI is already helping us navigate unique challenges, optimizing pricing, deployments and customer experiences to enhance revenue and efficiency.
Tip for protégés: Embrace the opportunity to take calculated risks, stay humble and, most importantly, always stay true to your core values.
My second career would be: Dentist
The most important lesson my mentor(s) taught me: The importance of maintaining curiosity and continually asking questions. It’s a mindset that fosters learning and growth, both personally and professionally.
Finalist: Patrick Goris
Senior VP and CFO, Carrier Global
www.carrier.com
13995 Pasteur Blvd.,Palm Beach Gardens 33418
561-365-2000
Birthplace: Antwerp, Belgium
Education: B.B.A., EU Business School; MBA, Emory University’s Goizueta Business School
Career: Senior VP, CFO, Rockwell Automation
Key accomplishments in the past year: In 2023, Carrier initiated its transformation into a global leader in intelligent climate and energy solutions. It worked to integrate the Japan-based Toshiba Carrier business it acquired in 2022, acquired Germany-based Viessmann Climate Solutions and initiated the exit of five global businesses.
How AI will change my job: I expect AI to ultimately be another tool in our box to ensure we continue to improve and increase efficiencies in all we do.
Tip for protégés: How you work with others and get things done is as important as what you achieve.
Professionally, I’m kept up nights by: Ensuring we continue to attract, retain and develop engaged team members as we successfully transform the company and achieve our long-term goals while delivering on our shorter-term financial and nonfinancial commitments.
My second career would be: As an entrepreneur, though I do not know what type of business or industry.
The most important lesson my mentor(s) taught me: Be very selective as to what you spend emotional energy on at work.
Nonprofit Organization
Winner: Carlos G. Molina
CFO, United Way Miami
www.unitedwaymiami.org
3250 S.W. Third Ave., Miami 33129
305 646-7065
Birthplace: Nicaragua
Education: B.S., economics, Colorado State University; M.S., finance, Florida International University
Career: Regional controller, Restaurant International Group; finance administrator, City of Belle Glade
Key accomplishments in the past year: Assisted in the deployment of UpSkill Miami, which serves to upskill and reskill the Miami-Dade County workforce; drove the implementation of robotic processes throughout the organization; and increased investments in alternative vehicles to maximize the organization’s investment returns.
How AI will change my job: It will minimize time spent on manual processes to allow for more thinking time, reduce use of resources to process manual clerical tasks, and improve collaboration and data sharing.
Tip for protégés: Work hard; rewards will follow.
Professionally, I’m kept up nights by: I always aim to leave a good impression in every interaction, professional or personal.
My second career would be: Small family farming operation
If I could ask one executive one question, I’d ask: What drives you to do what you do on a day-to-day basis?
The most important lesson my mentor(s) taught me: In the leadership role, treat others as you want to be treated.
Finalist: Douglas Folsom
CFO, John Knox Village of Florida
www.jkvfl.com
651 S.W. Sixth St.,Pompano Beach 33060
954-783-4072
Birthplace: Boston
Education: B.B.A., finance, Northeastern University
Work history: Controller and general manager at Marriott, Hilton and Sheraton hotels; regional director of finance, Lifespace Continuing Care Retirement Community
Key accomplishments in the past year: At John Knox Village, we have been fiscally stable and pose no threat to violating bond covenants due to recent reorganization of operations, with a focus on cost-efficiency while being mindful stewards of the residents’ money in day-to-day operations. In addition, 2024 will see the opening of Westlake, a $120 million two-tower luxury apartment building with 146 homes.
How AI will change my job: AI can be used as a good resource for research and suggestive communication. It should not be used to employ a personal touch in letters, emails and correspondence.
Tip for protégés: Don’t get stuck in the weeds. Look at situations from 30,000 feet up for clarity and purpose.
Professionally, I’m kept up nights by: Squashing rumors and misinformation
My second career would be: Ocean conservationist. I love the ocean and marine life.
The most important lesson my mentor(s) taught me: The importance of listening. It’s about the team – not you – and that they feel supported.
Finalist: Allyson Maharaj
CFO, Girl Scouts of Southeast Florida
www.gssef.org
6944 Lake Worth Road,Lake Worth 33467
561-815-1813
Birthplace: Trinidad & Tobago
Education: Finance, Association of Chartered Certified Accountants, U.K.
Career: Director of finance, Girl Scouts of Palm Glades; director of finance to CFO, Girl Scouts of Southeast Florida
Key accomplishments in the past year: I helped create a robust financial plan that included scenario planning for both short-term and long-term goals. We fostered a culture of financial transparency within our team and built financial literacy among governance volunteers and key staff in their role of understanding financial data.
How AI will change my job: It will increase efficiency, processes and boost productivity in entry-level tasks, allowing me to focus data-driven outcomes and strategy, not tactics.
Tip for protégés: Build trust and work credibility with your leadership team.
Professionally, I’m kept up nights by: Increasing expenses and financial risk
My second career would be: Educator
If I could ask one executive one question, I’d ask: What motivates you?
The most important lesson my mentor(s) taught me: Stay mission focused.
Financial Deal of the Year
Patrick Goris
Senior VP and CFO, Carrier Global
www.carrier.com
13995 Pasteur Blvd., Palm Beach Gardens 33418
561-365-2000
Birthplace: Antwerp, Belgium
Education: B.B.A., EU Business School; MBA, Emory University’s Goizueta Business School
Career: Senior VP, CFO, Rockwell Automation
Since joining Carrier Global in 2020, Patrick Goris has overseen tremendous growth and transformation. He called 2023 “a monumental year.” Its achievements and goals were just that.
The company initiated its transformation to become the global leader in intelligent climate and energy solutions. It made significant progress integrating the Japan-based Toshiba Carrier business it acquired in 2022. And Carrier acquired Germany-based Viessmann Climate Solutions.
Carrier also initiated the exit of five global businesses.
In all, the company acquired over $6 billion in revenue and is divesting about $4 billion in revenue.
“The outcome is a more focused company that is very well positioned to benefit from secular tailwinds, and with a higher growth profile,” Goris said.
Turnaround of the Year
Naftali Holtz
CFO, Royal Caribbean Group
www.rccl.com
1050 Caribbean Way, Miami 33132
305-539-6000
Birthplace: Israel
Education: B.S., computer science and economics, Tel Aviv University; MBA, University of Chicago
Career: Managing director, head of lodging and leisure investment banking, Goldman Sachs; officer, Israeli Air Force.
Since joining Royal Caribbean in 2019, Holtz helped the world’s second-largest cruise company navigate the pandemic shutdown and subsequent return as part of its “Royal comeback.” After returning to active sailings, the company achieved profitability in 2022. In the past year, it introduced Royal Caribbean International’s Icon of the Seas, Celebrity Cruises’ Celebrity Ascent, and Silversea Cruises’ Silver Nova, as well as new and expanded beach destinations.
Tip for protégés: Having the ability to build, nurture and maintain relationships is an important skill to hone – in business and in life.
Professionally, I’m kept up nights by: Doing everything I can to support Royal Caribbean Group’s momentum. We have overcome major industry disruption and adversity over the past few years to make a comeback as one of the most highly valued vacation companies in the world, and we intend to continue forging ahead.
My second career would be: Professional tennis player
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