FE CFO Awards: Curtain Raiser | One for the books: Celebrating the cream of those balancing the books

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Mumbai | Updated: March 27, 2018 6:32:34 AM

This time around, a jury headed by S Ramadorai, former chairman, Tata Consultancy Services, Paresh Sukthankar, deputy managing director, HDFC Bank, Amit Chandra, managing director, Bain Capital, Pradip Shah, chairman, IndAsia Fund Advisors, and Ajay Srinivasan, chief executive officer, Aditya Birla Capital selected 24 winners.

FE CFO awards, curtain raiser, financial expressChief financial officers (CFO) don’t always get the credit they deserve — their hard work and competence may be rewarded by their companies but remain relatively unknown to the outside world.

Chief financial officers (CFO) don’t always get the credit they deserve — their hard work and competence may be rewarded by their companies but remain relatively unknown to the outside world. In an environment in which there are frequent changes in rules and regulations, CFOs play a big role in ensuring the companies they work for stay financially sound and that every penny possible is saved. It is to applaud these finance professionals that Financial Express hosts the FE CFO Awards. The second FE CFO Awards will be presented to the winners at a ceremony in Mumbai on Tuesday. Bibek Debroy, chairman, Prime Minister’s economic advisory council, will be the chief guest on the occasion. This time around, a jury headed by S Ramadorai, former chairman, Tata Consultancy Services, Paresh Sukthankar, deputy managing director, HDFC Bank, Amit Chandra, managing director, Bain Capital, Pradip Shah, chairman, IndAsia Fund Advisors, and Ajay Srinivasan, chief executive officer, Aditya Birla Capital selected 24 winners.

The winning candidates belong to both the manufacturing and services sectors and eight CFOs were picked from each of three categories: Companies with a turnover of up to Rs 500 crore, between Rs 500 crore and Rs 1,000 crore and those with a turnover of over Rs 1,000 crore. The winners were chosen from a pool of around 100 companies shortlisted by knowledge partner Deloitte. The team at Deloitte took several financial parameters into consideration while arriving at the shortlist. For their part, the jury members used the financial data as the starting point but also took into account many more factors before deciding on the outstanding performances.

The jury was unanimous in selecting Seshagiri Rao, executive director and group CFO, JSW Steel, as the CFO of the Year. Rao’s ability to ensure the steelmaker stayed strong through challenging business cycles won him the applause of all members. The jury believed Anshula Kant, CFO at State Bank of India (SBI), had done a tremendous job steering the merger of the five associate banks of SBI with the parent lender and deserved to be Newsmaker of the Year. Bharat Doshi, former executive director and group CFO, Mahindra & Mahindra, takes home the award for lifetime achievement. Doshi’s contribution to the M&M conglomerate over four decades has been immense as he handled a complex financial portfolio and steered a string of acquisitions including that of the bankrupt Satyam Computer Services.

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