Main theme: What leads to high performance?
12 June 2008
Conference programme
Click here for the Pre-conference programme and exclusive VIP dinner on 11 June
08:15 Reception Croissants and orange juice
08:45 Welcome address by Mark Jeffries and Bas van Werven, joint chairmen of the 7th CFO Day
- 09:15 High performance from a global perspective; risk management and emerging markets
- Eurasia Group President Ian Bremmer will offer a global survey of political risks and embedded opportunities in emerging markets and explore how executives can best manage downsides in their pursuit of high performance. Following his keynote address, there will be an open discussion on topics of interest to CFOs, such as currency inflation, governance and sovereign wealth funds.
The panel will include Peter van Bommel (former CFO NXP), Bob van Heyningen (VP Finance Europe Office Depot) and Ben van der Klift (CFO ARCADIS).
10:30 Break
11:00 CFO presentations (open to all)
- Cause and consequences of the international credit crunch (open to all)
- Managing a company through turbulent times (in Dutch; open to all)
- How to align governance and investor relations in order to unlock the companys true value (open to all)
- Mars plan for high performance (in Dutch; open to all)
- Public private partnerships (in Dutch; open to all)
The current credit crisis might lead to a real credit crunch on financial markets worldwide. Banks will sharply reduce lending to businesses and households. Although average financing costs in the euro-zone have remained relatively stable, how long will this last? When will the credit crisis lead to a credit crunch? And how can we prepare for that possibility? Should firms pause their share-buyback programmes (cash will be king in the near future, so why give it back to shareholders)? On the other hand stocks are cheap, so this might be a good time to accelerate share buybacks. What other strategies can help us prepare for any possible credit crunch? Which companies will suffer the most? The current crisis has many by-products: The rapid depreciation of the dollar (vis a vis the euro), higher inflation and inflation expectations and, in the near future perhaps, lower nominal interest rates. How does this affect your financial strategy? Another consequence is the new role of sovereign wealth funds from emerging markets in Asia and the Middle East. These have been rather poor investments so far but all that might change. How do they fit in the international financial infrastructure?
Panel: Niek Hoek (CEO Delta Lloyd Groep), Lars Machenil (CFO Fortis Bank), Ronald Latenstein van Voorst (CFO SNS Reaal), John van Scheijndel (CFO Kas Bank) and Ian Bremmer (President Eurasia Group)
Vendex KBB was a source of concern on the stock exchange for many years. Now things are going better than ever since the company left the stock exchange and restructured under the name Maxeda. CFO Ronald van der Mark was closely involved with turning things around. How does he ensure that his company remains on course in the current uncertain climate? What potential scenarios does he envisage? And how does he motivate his employees?
Following Van der Marks presentation, there will be a panel discussion with Pim Oomens (CFO Wavin), Hugo van Berckel (Partner CVC), Kenaad Tewarie (former CFO Laurus) and Hank Schraven (Director Robert Walters).
Corporate development depends on equity development (ED) and, to an even greater extent, corporate governance (CG). Moreover, corporate development also depends on how compatible ED and CG are with each other. This is the main driver for a first-class corporate reputation, which in turn is the key to attracting investors to become shareholders, and gaining and maintaining the support of existing shareholders. Investment branding encompasses all ED and CG activities, in order to unlock the companys true value.
By Justin Reynolds (Senior Corporate Analyst Sodali).
Panel: Jan van den Belt (CFO Océ), Huub van Rozendaal (CFO Sligro), Bert Groenewegen (CEO PCM) and hosted by Bob Out (Director Rematch).
From a negative organic growth of 2% in 2003 to plus 3% in 2006. Wolters Kluwer has enjoyed a considerable turnaround since it followed a strategic plan that was established several years ago. CFO Boudewijn Beerkens believes that his concerns new reputation as a leading publisher will be reinforced in the years ahead.
This session will also see Hans den Hartog (CFO Ordina) and Ton Vernaus (CFO LeasePlan Nederland) take part in a discussion on strategy formation and realisation, and the role of the CFO. Panel also includes Professor Derkjan van der Leest and Professor Frans Roozen.
Government authorities are increasingly seeking different suppliers for public goods (mobility, security and welfare). This partner in public business is associated with public goals, takes more risks and is innovative. Contractors, engineers, electrotechnical installation companies and financial institutions form consortia that tender for large and long-lasting contracts. This offers new opportunities and at the same time creates new demands, not least in the field of financial and risk management. The Dutch Ministry of Waterways and Public Works (RWS) is in the vanguard of these changes. CFO Richard van Breukelen provides public and private parties with an insight into the opportunities for industry and government, the demands made by the change process, and the results and experiences of RWS in this sector. He will also recommend ways to make the most of all these opportunities.
11:00 Expert presentations (open to all) Facilitated by Platinum and Top Gold partners
- How to avoid liability in difficult financial circumstances (in Dutch; open to all)
- Introducing a quasi MBO to stimulate entrepreneurship and high performance (in Dutch; open to all)
- Defining, designing and realising the journey to world class performance (open to all)
Major uncertainty on the financial markets and a possible downturn in the economy increase the risks associated with managing a company. In this workshop we will look closely at the factors which increase risk and at ways to prevent successful management liability claims. What are the norms on which the business actions of managers and commissioners are gauged and are they influenced by the fact that the company (or a subsidiary) encounters financial difficulties? Does a one-tier board contain more risks than a two-tier structure?
By Erik van de Merwe (various supervisory board positions (a.o. Eureko, Exact, PCM) and Karen Harmsen (lawyer at Stibbe in Amsterdam). Facilitated by Stibbe
Research has shown that management buy outs (MBOs) from corporates often create significant value. The key to success is a (financially) committed management team stimulating entrepreneurship. In this session we shall illustrate how management teams can be stimulated to entrepreneurship. A case study will be provided to simulate a quasi MBO and show the details of previous successes. Facilitated by Grant Thornton
The Hackett Group helps the top 1.000 companies globally to achieve a world class performance based on its benchmark database. We define what world class performance is and how far your company needs to travel. We will design your journey with a portfolio of statistically proven best practices and quick wins. In this session we will explain how we have realised world class performance by discussing thought-provoking case studies and sharing our latest benchmarking figures. Facilitated by The Hackett Group
11:00 Round Table sessions (by invitation only)
- The Enterprise of the Future (by invitation only)
- Takeover Panel: Cure-all or total loss (by invitation only)
- Performance & Cultural Transformation (by invitation only)
The IBM round table is perfectly timed to learn from the outcomes of the latest IBM worldwide CEO Study 2008, which will be published in May 2008. The previous CEO study in 2006 interviewed 765 CEOs and showed that over 65% of CEOs planned to make fundamental changes to their business model in the next two years. For this round table, the outcomes of the 2008 study The Enterprise of the Future and the related role of Business Model Innovation will be shared as participants focus on the central theme: What is the impact on the Finance function? Hosted by IBM
The board of commissioners plays a key role in the internal control of mergers and takeovers. At the same time, experience shows that the board can sometimes miss important issues. Would it not be better to form a Takeover Panel, a sort of auctioneer that can regulate the process? The AFM could, for example, provide an external and independent control of the companys management. With shareholders becoming increasingly assertive (as shown by the recent takeover of ABN AMRO), a Takeover Panel might make a contribution that will be valued by all stakeholders involved in a merger or takeover. On the other hand, another supervisory body might entail even more bureaucracy. And who can be sure that the panel will equally promote the interests of all parties? Experience in the UK shows that this type of Takeover Panel can lean heavily on the side of the shareholders. Not such a good idea after all? Hosted by CFO Magazine
The results of a companys strategy and performance are inexorably linked with the people entrusted with carrying them out. How is a strategy secured and integral focus and responsibility established? How is value created and ethics preserved, and what role does culture play in this? Meanwhile, the importance of the senior executive role in :The Office of Finance: continues to increase. These and other issues will be examined during this session as top financials and experts share their know how and experience with each other. Hosted by Cognos, an IBM Company
12:30 Lunch break
14:00 CFO Presentations (open to all)
- Transformation and high performance in the global supply chain (open to all)
- Fortis and the cross consortium mega merger (in Dutch; open to all)
- The importance of maintaining an effective link with shareholders (in Dutch; open to all)
- Achieving high performance in the consumer goods industry (open to all)
Globalisation has many benefits for transport companies and outsourcing to low wage economies is becoming increasingly popular. Supply chain management between and within Western companies is also becoming more professional. Kuehne + Nagel and Ceva Logistics have their own visions on how to make the most of these globalisation trends, including how to command a high performance.
By Stuart Young (CFO Finance CEVA Logistics), Alan Dempsey (VP CEVA Logistics) and Gerard van Kesteren (CFO Kuehne + Nagel).
The acquisition of ABN AMRO fits seamlessly into the growth strategy of Fortis, says Gilbert Mittler, Member of Group Executive Committee, responsible for Finance, Risk and General Counsel at Fortis. The bank insurer has strengthened its position as one of the largest financial service providers in Europe thanks to the acquisition of ABN AMRO. Mittler will share during this session how the ABN AMRO mega merger was approached, how the funding was organised in the last three to five years, and the strategy Fortis intends to follow over the coming years.
Jacques Schraven, commissioner of Tata Steel, Corus and Nuon among others, and chairman of EuropeanIssuers (of which Dutch company VEUO is a part), will emphasise the importance of maintaining an effective link with shareholders in order to attract investment to the company and prevent break-ins. The role of the EU regulator and the cooperation of financial intermediaries are crucial in this respect.
Heineken is the leading international brewer and ranks fourth in the world by volume. The cross-consortium acquisition of parts of Scottish & Newcastle fits perfectly within Heinekens growth strategy. In this session on M&A versus autonomous growth, René Hooft Graafland, Heineken N.Vs CFO, will discuss the role of innovation in mature beer markets and cultural transformation in order to achieve high performance.
A panel discussion with colleague CFOs and experts will follow, including Marina Wyatt (CFO TomTom), Stefan van Kessel (CFO Mars Nederland) and Dorothee van Vredenburch (Partner RedZebra Group).
14:00 Expert presentations (open to all)
- No high performance without taking risks (in Dutch; open to all)
- Information Logistics: How to handle the information tsunami (open to all)
- Driving financial performance at De Efteling (open to all)
- Shared Service Centres. How the level of success is determined by management (open to all)
The road to high performance is full of (new) uncertainties. Identifying and assessing these uncertainties requires a combination of opportunity management and risk management. Executive Board Members and Supervisory (Non Executive) Board Members need access to high quality information. Supervisory Board Members should not rely only on information provided by the Executive Board, but also that provided by independent advisors - especially in case of event-driven (emerging) issues (such as a company takeover). In todays litigious world, Supervisory Board Members should consider using independent advice as a contributor to the proper execution of their duty of care.
By Paul M. Koster, former Member of the Board of the Authority for the Financial Markets in the Netherlands (Autoriteit Financiële Markten). Facilitated by AON
The biggest challenge facing both profit and non-profit organisations today is information overload. How to convert information into business success? Find out how Heineken International is improving information efficiency and effectiveness across its entire business, saving costs and realising value with its worldwide programme, Company Information Logistics.
By Alberto Toni, Manager Financial Process Innovation Heineken International. Facilitated by ConQuaestor
De Efteling is much more than an attraction park. It currently has a 120-room hotel, an 18-hole golf course, a 1200-seat theatre, an event organisation department and a media production facility. With its fairly tale theme, Efteling has surprised and amazed its visitors for 56 years. Various management systems ensure that the financial department is neither surprised nor amazed.
By Daan van Baarsen, CFO De Efteling. Facilitated by ABN AMRO
The dos and donts of management organisation are established by looking at interesting practical case studies from the world of Shared Service Centres. Participants will gain insight into the methods and the way they are deployed when managing a high performance management organisation. Facilitated by Accounting Plaza
14:00 Expert presentation (by invitation only)
- Post-merger integration finance (by invitation only)
This invite-only session is intended as a platform for CFOs to discuss and exchange experiences regarding post-merger integration activities. The discussion will be centred around recent projects at KPN and Getronics. It will be of interest to those who have dealt with or will soon be involved in the integration of the finance function after a merger or takeover.
By Marcel Smits (CFO KPN). Facilitated by KPMG
14:00 Round Table sessions (by invitation only)
- Corporate Governance as a business tool at the AGM (by invitation only)
- Globalisation and its impact on organisations (by invitation only)
- Balance sheet restructuring, off balance pension amounts: How can I avoid pension liabilities overrunning the company balance sheet
- Shifting the boundaries of the traditional firm: Make, Buy or Ally? (in Dutch; by invitation only)
This round table discussion will be led by experts and examine how corporate governance can be used by listed companies to drive the business objectives of management at the AGM, and turn the tables on the activists. This discussion will be led by experts on how Corporate Governance can be used by listed and unlisted companies to drive the business objectives of management at the AGM, and turning the tables on the activists. Hosted by Rematch
During this session, CFOs and VPs Finance will share their knowledge and experience on internationalisation, growth, risk management and the role of finance. Hosted by Verizon Business
This session will provide an open platform that allows CFOs to exchange and expertly discuss the impact of the fast growing mismatch between our employees and pensioners, misplaced solidarity towards our employees and the resizing of pension liabilities related to the company balance sheet. Hosted by Delta Lloyd Groep
To compete in tomorrows flat world will require new kinds of organisational models. This means that the boundaries of traditional firms will need to shift. The question is how to become a global leader in your business by making the right choice when it comes to making, buying or allying? This viewpoint and a range of best practices will be shared in the discussion with leading board member and entrepreneurs.
By Ivar Davids and Han Hendriks, both managing partners at Kirkman Company and the authors of the recently published book "Make, Buy or Ally" to which top executives from Agis Zorgverzekeringen, Bavaria, Damen Shipyards, DSM, Donkervoort, Postkantoren and Vopak contributed. Hosted by Kirkman Company
15:30 Break
- 16:00 Global development, strategy and performance
- Ravi Nedungadi (CFO United Breweries Group India) shares his vision and expertise on globalisation, India as an emerging market, and the growth strategy of his group. His presentation will be followed up by a thought-provoking discussion with other global CFOs and experts such as Gerard van Kesteren (CFO Kuehne + Nagel), Jacques Schraven (a.o. Board of Directors Tata Steel), Hans Kerkhoven (VP Finance Arcelor Mittal) and other financial executives.
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- 17:00 CFO of the Year Awards ceremony
- 17:00 CFO of the Year Awards ceremony
- Who will be the CFOs of the Year in 2008? The 7th CFO of the Year Awards will honour the financial policies implemented by companies as represented by the CFO. In the category for listed companies, several CFOs have been nominated by Rematch and CFO Magazine on the basis of their first-rate financial reputation, communication and the share attractiveness. The CFOs winning in the listed company categories will be determined by Rematch's thorough investigation into the financial processes and market evaluation of the performance. In the unlisted company category, research is conducted by The Hackett Group. The CFO of the Year Award and the CFO Day is recommended by Willem Vermeend, Eric van de Merwe, Jan Hommen and Tom de Swaan.
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- 17:30 Reception with live music
- 19:00 End of the CFO Day
- 17:30 Reception with live music
11 June 2008
Pre-conference programme and exclusive dinner for the financial elite
(by invitation only)
Click here for the Conference programme of 12 June
- 15:00 Reception
- 15:30 Corporate governance as a business tool (maximum 30 attendees)
- A presentation on corporate governance exploring how investors look at corporate governance. The presentation will walk through investor attitudes to structure, transparency, disclosure and communication. We will look at how corporate governance, with its sub sectors of environmental and social responsibility, is increasingly included in portfolio management by investors and, once invested, how corporate governance is used in agreements with companies. The presentation will also look at how certain funds have been developed to just drive the corporate governance value of a company, and how investors do this. John Wilcox, CEO Sodali and governance guru is the presenter. Hosted by Rematch
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- 15:30 Risk management and emerging markets (maximum 12 attendees)
- Ian Bremmer, president of Eurasia Group, the worlds leading political risk consultancy, will lead a discussion of critical trends and risks shaping the global marketplace. Among the issues he will highlight are the implications for markets and for Chinas domestic and foreign policy of the Olympics-related controversies, Russia 'after' Putin, risk issues in the Middle East and their potential impact on oil prices, US elections and protectionism, and political turmoil in Turkey, Pakistan, and South Africa. Bremmers insights draw on a decade of working with world leaders in finance and industry. Hosted by Verizon Business
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- 15:30 High Performance Organisations (maximum 12 attendees)
- Dr. Andre de Waal recently carried out research that focused on Management Information and the role of IT within High Performance Organisations (HPO). At first sight the results were disappointing: Management Information and IT seemed to have little impact. But a more detailed study into the results showed that they played a key role in companies that were excelling. The major findings of this research will be presented during this round table, and De Waal will lead a discussion on the strategic relevance of Management Information and the role of IT in HPOs. Hosted by SAS
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- 17:00 Reception with live entertainment
- 18:30 CFO VIP Dinner with CFO charity auction (for more info see www.cfoday.com)
- 17:00 Reception with live entertainment
- On June 11, around 150 CFOs will dine together along with the directors of the platinum and gold sponsors. Chef Winston Drevers, honoured with several Michelin stars, will prepare an exclusive dinner. A leading sommelier has selected the finest wines for you, which will be served by our dedicated hostesses. An auction will be held on the CFO Day, with proceeds going to charity. CFOs and sponsors have made products and services available for this purpose. Approximately 50,000 euros was raised in 2007, 20,000 more than in 2006. The lots offered in 2008 include an Olympic Experience with Roy Heiner, Wine Tasting, Ajax VIP tickets, Offshore Sailing Trip, Wind Park Q7, one-minute free shopping, lunch with CFOs, F1 Tickets, Culinary Night, and a visit to Nutreco Research in Norway.
For more information, see www.cfoday.com. -
- 21:00 End of VIP Dinner
- 21:00 An after-dinner programme with a difference in our specially created VIP Lounge
- 21:00 End of VIP Dinner
Call for more information +31 20 6390008 or send an e-mail to Mando Vroling.