The 2017 CFO of the Future Summit:

Fueling the Growth Agenda

Harvard University, Cambridge, Mass. May 17 – 19, 2017

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The 2017 CFO of the Future Summit:

Fueling the Growth Agenda

Harvard Univers i ty , Cambridge , Massachuse t t s

Agenda

Wednesday, May 17th

7:00 – 9:00 PM Harvard University Loeb House 17 Quincy Street

Opening Reception for the 2017 CFO of the Future Summit (Hors d’oeuvres with Drinks)

Reg i s t ra t ion Avai lab l e

Thursday, May 18th

8:00 – 8:30 AM Harvard Faculty Club 20 Quincy Street

2017 CFO of the Future Summit: Fueling the Growth Agenda

All classroom components of this event will be held in the Reading Room (1st Floor). All meals and breaks will be held in the Library (2nd Floor).

8:00 – 8:30 AM Energizers: Coffee and Continental Breakfast

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8:30 – 10:00 AM

The CFO of the Future – Fueling the Growth Agenda

Amidst a backdrop of deepening digital disruption, growing political uncertainty, increasing regulatory complexity, and shifting consumer preferences, one thing is certain – chief financial officers are creating a new agenda for growth. To lead effectively in this new environment, chief financial officers and finance executives must become “chief growth officers”—the point person who not only controls stability, accountability and risk, but also grows profitability, enterprise-wide agility, sustainability, and customer trust. This growth-oriented pivot will be valuable, yet difficult. The chief growth officer must redefine the playbook of finance by embracing disruption, spearheading the development of new business models, and building agility into operations. This session will explore strategies leaders have developed to drive a new growth agenda, offer key ideas from a panel of leaders, and provide insights from the pre-Summit Compass Diagnostic.

Presenter: • Antonio Oftelie, Leadership for a Networked World (LNW), Harvard John A. Paulson

School of Engineering and Applied Sciences (SEAS) Welcome:

• Christian Campagna, Accenture In this part of the session leaders will reflect on the ideas presented, share insights on innovations they are leading, and explore the risks and rewards of transformational leadership. Panelists include:

• Stephan Bein, Zurich Insurance Company• Olga González, Walmart• Kristal Kaye, Husky Midstream Limited Partnership • Dumi Martinez, SCA

10:00 – 10:30 AM BREAK

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10:30 AM – 12:00 PM

Case in Point: “Special Forces” Innovation Teams at Stanley Black & Decker

As an industry leader, with origins as a more traditional, old-school manufacturing company, Stanley Black & Decker (SBD) has had to develop new systems, structures, and models to incubate innovation. To cultivate a start-up mindset, the SBD leadership team borrowed models from other companies and industries. Over the last several years, the company has refined their “Special Forces” model, where engineers and technology experts in each major business area are moved to offsite locations, with unique tasks, different ways of working, and novel reporting structures in order to seed break-through innovations.

In this session, Mr. DuRussel will describe how SBD has identified the right people for this work, established a governance structure, managed rotations, and addressed cultural repercussions. He will review implications of this change for the finance organization, including higher failure rates, altered ROI expectations, a new perspective on hurdle rates, and viewing activities holistically, rather than on a project-by-project basis. He will explore the new challenges of monitoring these activities, becoming more experimental, and harnessing new value. Mr. DuRussel will also share SBD’s success story of the FLEXVOLT, a high impact innovation originating in the lab, which has produced significant profits.

Presenters: • Ryan DuRussel, Stanley Black & Decker

12:00 – 1:00 PM LUNCH

1:00 – 3:00 PM

Harvard Business School Case: Rapid Rewards at Southwest Airlines

In this high-energy session, participants will analyze and discuss a case on customer relationship management, service operations, and service delivery. Southwest Airlines is well known as the low-fare airline that has achieved ongoing financial success in one of the most financially troubled industries in the United States. Told from the perspectives of two Southwest customers – a frequent flier and a more typical customer – the case revolves around two customer service requests from the frequent flier, both of which provide a compelling temptation to cater to the satisfaction of the airline's highest revenue customers. The requests are intriguing because they would neither add cost nor increase the turnaround time of Southwest's service. During the discussion, participants will reflect on building a strong culture, alignment, and more.

Presenter: • David Ager, Harvard Business School

3:00 – 3:30 PM BREAK

Ideation Session

In this part of the session, leaders will break into small groups to synthesize session insights and translate them to action steps. • Moderator, Antonio Oftelie, LNW/SEAS

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3:30 – 4:30 PM

Case in Point: Evolving Gannett in a Digital Media World

How do you evolve towards a next-generation business model, while preserving the strength of legacy systems and developing a new company narrative? In recent years, the journalism industry has undergone dramatic changes. With a shift towards digitization, the rise of the blogger and user-based journalism, and an emphasis on multimedia integration, media companies have had to adjust dramatically. As the largest U.S. newspaper publisher, and operating in over 120 markets internationally, Gannett has been hugely impacted by these changes. In response, the company is undergoing a significant transformation to put data and digital at their core, create new products that reach new markets, and shift organizational culture to be more unified and nimble. In line with these changes, Gannett spun off TEGNA, has acquired several high growth companies in the digital media space, and is undergoing cost transformation projects.

In this session, Ms. Engel will discuss her experience spinning-off TEGNA as soon as she joined Gannett in 2014, their organic growth plan, and strategies the organization has developed to preserve the legacy piece of the business throughout the transformation. She will share lessons learned with increased digitization, and she will reflect on new challenges, such as gaining recognition for significant evolution, transforming the culture, attracting the right talent, and more.

Presenters: • Alison Engel, Gannett

4:30 – 6:30 PM Optional: Tour of Harvard Yard, Free Time in Harvard Square

6:30 – 9:00 PM

RECEPTION and DINNER

Harvard Museum of Natural History 26 Oxford Street

Reflection and Action

In this part of the session, participants will synthesize session insights and translate them to action steps that other leaders can apply.

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Friday, May 19th

8:00 – 8:30 AM Harvard Faculty Club 20 Quincy Street

Energizers: Coffee and Continental Breakfast

All classroom components of this event will be held in the Reading Room (1st Floor). All meals and breaks will be held in the Library (2nd Floor).

8:30 – 9:45 AM

Disruptive Innovation: The Catalyst for New Business Models

In the midst of rapid change, organizations have new opportunities to re-imagine their work, redefine their value propositions, and develop new processes to create collaborations that are poised to achieve new outcomes. However, leading this charge often demands navigating disruptive innovation and the new business models they create. In this session, Rory McDonald will introduce the basic principles of disruptive innovation—a theory that explains why small upstarts are sometimes able to successfully challenge leading incumbents. Through an interactive lecture format, we will examine why organizations have trouble innovating and why promising products and technologies sometimes don’t gain traction in the market. Presenter:

• Rory McDonald, Harvard Business School

9:45 – 10:00 AM

BREAK

10:00 – 11:00 AM

Case in Point: Architecting a Growth Strategy and Shareholder Value at Accenture

Companies today are faced with unprecedented challenges—from rapidly evolving markets and competitors to digital disruption. Along with this volatility and disruption, comes opportunity to seize market share and drive significant growth in new ways. The need to adapt quickly and invest for the future has never been greater – growth does not wait. It is imperative that companies embrace an innovative, differentiated strategy that is underpinned by clear financial objectives, and create a vision for the future to seize growth opportunities. However, a killer strategy is not enough. Companies must have proof points and results that demonstrate the strength of this strategy, and even with the right strategy and results, they must articulate a concise and compelling narrative that resonates with analysts and investors.

In this session, KC McClure will reflect on Accenture’s multi-year journey to reinvent themselves and rotate to The New—targeting new businesses and services, and making significant investments to position themselves as the market leader in the new digital world. She will reflect on working across the C-suite to bring this strategy to life, developing a compelling story—both internally and externally—to increase shareholder value, and the changing (and vital role) the CFO played throughout.

Presenters: • KC McClure, Accenture

Reflection and Action

In this part of the session, participants will synthesize session insights and translate them to action steps that other leaders can apply.

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11:00 AM – 12:00 PM

Ideation Session: Frontiers of Financial Technology

Financial technology innovation has exploded in the popular consciousness, and promises a radical transformation of the global financial services industry. In fact, in 2016 it was estimated that over $20 billion was invested in fintech projects. How can CFOs make sense of the new inventions that are driving this change, and guide their peers, investors, and other stakeholders in understanding implications? In this session, MIT Professor Alex “Sandy” Pentland, described by Forbes one of the seven most powerful data scientists on the planet, will share insights on social physics– the way human social networks spread ideas and transform those ideas into behaviors. In a digital world, analysis enabled by social physics will revolve around how people are connected together by machines, and how, as a whole, they create a financial market, an organization, a company, and other social structures. He will reflect on topics ranging from blockchain to artificial intelligence and explore several major trends and technologies that are changing the face of financial services. Following the presentation, participants will discuss implications for their organizations and operating environments in the future, and how CFOs should prepare today. Presenter:

• Alex “Sandy” Pentland, Massachusetts Institute of Technology

12:00 – 1:00 PM LUNCH

1:00 – 2:15 PM

Special Address: CFO Leadership Today and in the Future

Jeffrey Campbell, American Express

The role of the CFO is changing dramatically. While CFOs will continue to maintain responsibilities for financial stewardship, capital allocation, and financial controls, processes, policies, procedures and transactions, they must also balance new demands for a heightened focus on strategy and transformation. This shift demands a new mindset, new competencies, greater comfort with experimentation, and a new tolerance for risk. This evolution introduces new questions as well, such as: Where do you spend your time? How should you think about your talent? How should you think about technology? What role will you play with the board, compared to the management team? In this special session, Jeff Campbell, CFO at American Express, will draw on his experience as a CFO for three global companies in three different industries to guide a discussion on these questions and others.

2:15 – 2:30 PM Program Evaluation

Reflection and Action

In this part of the session, participants will synthesize session insights and translate them to action steps that other leaders can apply.

• Moderator, Antonio Oftelie, LNW/SEAS

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2:30 – 3:30 PM

Closing Session: Leading a Growth Agenda – Now

In this closing session, key findings from the Summit will be re-capped, and a panel and the plenary will be engaged in discussing lessons learned: How can the finance organization not only optimize current business value, but also fund and incubate new and disruptive business models? What innovative digital tools, data, analytics, and network-enabled platforms can bring newfound speed and agility to finance and operations? How can finance executives manage across the c-suite to ensure partners and stakeholders are informed and aligned on the pace of change? How should recruitment, hiring, and training of human capital change, and how can organizational culture become an enabler of progress?Participants will also discuss ideas the Summit should prioritize for the coming year. Panelists include:

• Christian Campagna, Accenture• Mark Eppert, The Coca-Cola Company• Mala Murthy, American Express• Paul Rareshide, NCR Corporation• Facilitator, Antonio Oftelie, LNW/SEAS

3:30 PM ADJOURNMENT

lnwprogram.org

Accenture Strategy operates at the intersection of business and technology. We bring together our capabilities in business, technology, operations and function strategy to help our clients envision and execute industry-specific strategies that support enterprise wide transformation. Our focus on issues related to digital disruption, competitiveness, global operating models, talent and leadership help drive both efficiencies and growth. For more information, follow @AccentureStrat or visit www.accenture.com/strategy.

The Technology and Entrepreneurship Center at Harvard (TECH) is convening the 2017 CFO of the Future Summit as a component of the Innovation Fellows program. TECH, part of the Harvard John A. Paulson School of Engineering and Applied Sciences, is both a real and virtual space for students, faculty, alumni, and industry leaders to learn together, collaborate and innovate. TECH enables this holistic exploration by sponsoring and supporting opportunities for the innovation community to gather and exchange knowledge via courses, study groups, mentorship relationships, innovation programs and special events. For more information on TECH visit www.tech.seas.harvard.edu.

Leadership for a Networked World (LNW) helps leaders ideate and activate organizational transformations that generate capacity and sustainable value. Founded in 1987 at Harvard Kennedy School, LNW is now an applied research initiative of the Harvard Public Sector Innovation Award Program at the Technology and Entrepreneurship Center at Harvard. Since 1987, LNW has delivered more than 200 learning events and gathered more than 12,000 alumni globally. To learn more about LNW please visit www.lnwprogram.org.

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