Lancor Assists VERTEX with CFO Search
March 28, 2024 – Executive search firm Lancor has assisted in the recruitment of Ron Charow as the new CFO of VERTEX in Weymouth, MA. “We are proud to collaborate with the leadership team at The Vertex Companies on the appointment of Ron Charow as chief financial officer,” said Tim O’Toole, partner at Lancor. “Congratulations to Ron and best of luck from the Lancor search team.”
“We are happy to announce that Ron Charow has joined VERTEX as our chief financial officer,” the company said. “In his new role, Ron will focus on the financial strategies needed to support our future growth. He will be partnering with Marc Fiore, who will continue to oversee our finance, systems, and programs teams.”
Mr. Charow has 30+ years of experience in professional services including information technology services, investigative services, advisory services, environmental consulting services, and external audit. He has vast experience in acquisitions, having worked on more than 30 such transactions over his career. Throughout his career, Mr. Charow has worked in both private equity and public company environments. Most recently, he was CEO of Mintz Group, a global provider of investigative and research services. While with Mintz, he ensured financial discipline in executing the company’s strategic plan through the areas of financial planning and analysis, treasury and taxation, financial reporting, and strategic initiatives.
Prior to that, Mr. Charow worked with LRN Corporation, a leader in ethics and compliance knowledge solutions and advisory services. As EVP and CFO, he was responsible for financial reporting and analysis, business planning, treasury, and taxation. Prior to LRN, Mr. Charow was with Fujitsu Consulting, where he was EVP and CFO responsible for finance, administration, IT, and legal affairs.
VERTEX is a fast-growth AEC firm that delivers integrated forensics, engineering, environmental, and construction project advisory solutions on complex projects.
Related: How the CFO Position Continues to Evolve
Lancor is a global retained executive search firm serving public and private companies, private equity firms and other investors. It specializes in board-level search mandates including CEO, CFO, C-suite executives, board director and private equity operating partners. Lancor has completed searches across more than 25 industries, with particular expertise in technology, media and telecommunications. The company also has deep relationships with over 40 of the top PE firms and makes equity co-investments through its affiliate, Lancor Capital Partners. Michel Coucke founded the firm in 2001.
Evolving CFO Roles
Today, CFOs are being asked to play an ever-broader role. “The tumultuous environment companies are operating within demand a different skill-set in the CFO chair,” said Mr. Conti. “CFOs are playing a critical strategic role in companies, not only to pull levers necessary to secure a company’s financial platform, but also to position the company to emerge in a strong competitive positioning in a marketplace where not all will survive. This requires the CFO to lead from the front, be strategic and savvy, to navigate a company through choppy waters. When boards and CEOs do not have confidence that they have this strategic CFO, then they have no choice but to seek out an alternative.”
Financial Services is Booming, CFO Role Continues to Evolve
Despite economic uncertainty and the challenges of finding top talent, the financial sector continues to change and grow. Interviewed by Hunt Scanlon Media, search leaders who specialize in the sector offer their insights on the path forward, the CFO’s responsibilities, and more.
“In times like these, where businesses demand hyper-agility, being a functional specialist isn’t good enough,” said Bryan Buck, partner at ON Partners. “It’s required now that CFOs can see around corners and understand the physical (and digital) trends that are reshaping their world – and then act quickly. They need to think like P&L owners – not like accountants. Regardless of the product or service their company offers, customer expectations have changed. And the CFOs in highest demand right now are the ones who have proven to be nimble and business-focused enough to drive organization’s to where the puck is moving (both organically and inorganically).”
This business environment is also putting more pressure on CFOs. “There’s definitely more need for CFOs to operate with transparency around the realities of the market conditions, how those conditions are impacting the business in the short and long term, and what strategic steps are being taken to address the challenges faced,” said Mr. Conti. “Shareholders understand that market conditions are challenging, and they’ll be more patient in these unique times, but only if they have confidence in the CFO’s leadership and strategy.”
“Yes – and it’s industry-agnostic,” Mr. Buck added. “For public companies specifically, those in negatively impacted sectors are trying to survive the rapid slow down, and maintain various levels of ongoing business operations, while planning and positioning for a potential recovery that could happen within the next few quarters…or the next few years,” he said. “Public finance leaders on the other end of that spectrum are seeing tremendous growth and demand, but they’re also cognizant that current share price reflects Wall Street’s expectation of perfection – leaving no room for quarterly missteps.”
Related: Financial Services is Booming, CFO Role Continues to Evolve
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Executive Editor; Lily Fauver, Senior Editor – Hunt Scanlon Media
