The Chief Financial Officer (CFO) plays a critical role in any organization’s growth and success. A CFO’s primary responsibilities include overseeing financial planning, risk management, and accounting operations. But what is often overlooked is the strategic mindset a CFO must possess to lead a company to financial success. One CFO that exemplifies this is Gary McGaghey, the CFO of Williams Lea Tag.
Gary McGaghey has been the CFO of Williams Lea Tag, the global marketing execution partner for some of the world’s most successful brands since 2018. Under his leadership, they have grown their revenue to nearly $1 billion. Much of this growth is due to McGaghey’s emphasis on strategy, alignment, and focus. This has required a strategic mindset focused on adding value to the organization beyond financial management.
Aligning the financial objectives with the broader strategic goals and objectives of the company requires a deep understanding of the organization. McGaghey says gaining credibility, trust, and access to accurate insights is critical in integrating finance into business decision-making. By involving their financial team members in the business’s day-to-day operations, they have been successful in strategy execution.
According to McGaghey, CFOs must lead strategic planning efforts by leveraging the organization’s strengths and opportunities. This involves the development of short and long-term financial and operational strategies that will help management achieve its goals. This includes building various scenarios to test the plan and its viability. Gary firmly believes that a solid strategy, based on the company’s strengths is required to deliver robust and sustainable financial outcomes.
Part of McGaghey’s success at Williams Lea Tag is his ability to communicate financial information and use it to support key business decisions effectively. He has found connecting finance and strategy to help communicate the value of the company’s financial management investments. By understanding the decision-maker’s priorities and concerns, Gary and his team can effectively deliver financial recommendations to support business objectives.
The role of a CFO is critical to an organization’s success, and having a strategic mindset and understanding beyond financial management is essential. Gary McGaghey’s emphasis on alignment, focus, and adding value has helped Williams Lea Tag achieve sustainable financial outcomes. A CFO is not just a financial expert but also a strategist and an integral member of an organization’s leadership team, and a company’s success heavily depends on this role.