Meet the Hartford Business Journal’s 2015 CFOs of the Year.
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The role of the chief financial officer has grown over the years as CFOs take more ownership in developing company strategy.
In many organizations, CFOs aren't just responsible for crunching numbers; they're sitting side-by-side CEOs, chief operating officers, and other c-suite executives shaping key decisions beyond finances.
Take Glenn MacInnes, for example. The CFO and executive vice president of Waterbury's Webster Financial Corp. has spearheaded much of the bank's expense-management strategy in recent years. He also helped oversee a major acquisition that significantly expanded the regional lender's market share in the health savings account business.
Then there's Laurie Whelan, who serves as CFO of the Hospital for Special Care. She orchestrated the termination of the New Britain care provider's pension plan and helped oversee implementation of an electronic medical record system.
Meantime, Rick Sorensen, CFO of Hartford-based Insurity, has played a role in guiding his company through eight mergers and acquisitions, including two in the last year.
Michael Ciarcia, chief financial officer of Newington-based Costello Industries, has played an integral in his company's ability to win multi-million dollar construction projects. But he also serves as a coach to staff, helping build a highly motivated and committed team.
In this week's issue, we celebrate four Greater Hartford leaders with Hartford Business Journal's 2015 CFO of the Year awards. They are drawn from Connecticut's broad spectrum of industries and organizations, for-profit and nonprofits alike.
We also pay tribute to a larger group of finalists. And collectively they were honored at our Sept. 10 luncheon celebration in Hartford.
In this special section, we'll tell you a little more about the winners and their organizations.
Together they have presented a compelling tapestry that captures the tough task being performed daily by these CFOs.
In terms of methodology, the business community was invited to submit nominees in four categories — nonprofit (full-time paid); private company (less than or equal to 100 employees); private company (greater than 100 employees); and public company.
Our judges — Tom Wood, CFO of the American School for the Deaf; Robin Barrett, vice president, CFO and human resource director of Data Management Inc. and Infinity Music Hall and Bistro; and Matthew O'Connor, dean and professor of finance at Quinnipiac University — reviewed the nominations and came up with our four winners.
Please join HBJ in congratulating our winners and all their accomplishments. And remember, we'll be back with our CFO of the Year Awards again next year, so if you know of worthy candidates please nominate them, as they could be featured in next year's issue.
— Greg Bordonaro Editor Hartford Business Journal
Category: Public company
Glenn MacInnes, Webster Financial Corp.
Category: Private company, 100 or fewer employees
Michael Ciarcia, Costello Industries
Category: Private company, more than 100 employees
Rick Sorensen, Insurity
Category: Nonprofit
Laurie A. Whelan, Hospital for Special Care
Check out the special CFO of the Year digital edition.
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