More Strategy in the CFO’s Responsibilities
Jan Vrins is managing director and leader of Navigant's global energy practice.
Steve Mitnick is Editor-in-Chief of Public Utilities Fortnightly and author of the book “Lines Down: How We Pay, Use, Value Grid Electricity Amid the Storm.”
Bob Frenzel is CFO, Xcel Energy.
Marty Lyons is CFO, Ameren.
Drew Marsh is CFO, Entergy.
With the many changes that our industry is dealing with, and the increased complexities and uncertainties around customer and shareholder value, the position of the chief financial officer has significantly changed.
Managing financial performance and reporting to shareholders is only a small part of the modern CFO's job. They need to understand the impact and possibilities of new technology, changing policies and regulations, evolving customer needs, new products and services, changes in operations and security, and much more.
Chief Need-To-Know-It-All is probably the best way to describe the new, broader and enhanced CFO role and position. We asked three CFOs — Bob Frenzel of Xcel Energy, Drew Marsh of Entergy, and Marty Lyons of Ameren — about their company's aspirations, how they engage with their customers, and how they develop new products and services.
We asked what their challenges and successes are, and what their plans for distributed energy resources and grid technologies are. Their perspectives provide a great behind-the-scenes view of the issues that some of the largest investor-owned utilities are focused on. Part II will appear in January’s PUF.
— Jan Vrins, managing director and leader of Navigant's global energy practice