Chief financial officers raised billions of dollars this year to shore up their companies’ balance sheets. They cut costs, revamped revenue forecasts and pivoted strategies to help their businesses navigate the coronavirus pandemic.
Because of that, many of them didn’t have a lot of time to read for pleasure. When they did, some chose books that offered new perspectives on work and society—and in some cases helped them relax.
CFO Journal reached out to finance chiefs across industries to ask about the best books they read in 2020. Here’s what they said.
Jim Sheehan, CFO of Hormel Foods Corp., an Austin, Minn.-based food manufacturer
Thinking in Bets: Making Smarter Decisions When You Don’t Have All the Facts, by Annie Duke (2018)
“The author is a professional poker player, and in the book she provides insight into making decisions in conditions of uncertainty. With the level of uncertainty that existed in 2020, the book was certainly on topic. The concept of becoming comfortable with degrees of certainty and the fact that not all good decisions result in a good outcome were important to me in 2020.”
Scott Settersten, CFO of Ulta Beauty Inc., a Bolingbrook, Ill.-based beauty retailer
Cheaters Always Win: The Story of America, by J.M. Fenster (2019)
“I enjoyed this light-hearted, thought-provoking read on the history of cheating in America dating to the earliest Native American land swindles to the seemingly endless fraudster stories filling our daily news feeds. Cheating and cheaters transcend sports, politics, entertainment and finance with a win-at-all-cost mantra. Ms. Fenster provides insightful perspective on the collective decline in national morals whereby oddly, and with few exceptions, the cheated are the ones shamed, embarrassed and ostracized, rather than the other way around.”
Meghan Frank, CFO of Lululemon Athletica Inc., a Vancouver, British Columbia-based athletic apparel company
Intimations: Six Essays, by Zadie Smith (2020)
“I thought this collection of short essays powerfully captured the human experience and introspection of 2020. Her stories illuminate what is truly important and where we need to do better as a society. I was also very inspired to read on the last page that all of the royalties from the book will go to two charities—The Equal Justice Initiative, and the COVID-19 Emergency Relief Fund for New York.”
Ann Dennison, controller and incoming CFO of Nasdaq Inc., the New York-based exchange
Deep Survival: Who Lives, Who Dies, and Why By Laurence Gonzales (2003)
“This riveting compilation of survival stories highlights how important a person’s outlook on the world is as they face challenges. I loved the engaging ups and downs of the stories, and while I don’t intend to embark on any death-defying adventures, the message of the importance of being present and having a positive outlook is great reminder for the challenges of everyday life”
Jason Park, CFO of DraftKings Inc., a Boston-based sports-betting company
The Gray Man series, by Mark Greaney (2009-2020)
“2020 has been quite the year for DraftKings so I haven’t had much time for leisure reading. Although, each night before bed to relax the brain a bit, I do open the Kindle and read at least a few pages. This year I’ve read a lot of Mark Greaney—The Gray Man Series. These are really fun reads, action packed and definitely page turners. I’ve also read some futuristic novels by C. Chase Harwood that I find very funny and thought provoking.”
Bill Zerella, CFO of ACV Auctions Inc., a Buffalo, N.Y.-based online car marketplace
Jefferson: Architect of American Liberty, by John B. Boles (2017)
“At a time when many people are exchanging views on the founders of the country I found this book on the life of Thomas Jefferson to be incredibly helpful in understanding the enormity of his accomplishments. While most of us know Jefferson as the primary author of the Declaration of Independence, it only scratches the surface of his many contributions to our democracy.”
Manavendra Sial, CFO of SunPower Corp., a San Jose, Calif.-based solar-energy company
The Quest: Energy, Security, and the Remaking of the Modern World, by Daniel Yergin (2011)
“The book is like a history and evolution of energy through the decades with great insights and stories. In the current-day context where the world is going through an energy transition, it’s a great and interesting read to put things in perspective of where we have been, and juxtaposing the history to the current day. It highlights for me the tremendous progress we have made in advancing clean energy.”
Eric Marchetto, CFO of Trinity Industries Inc., a Dallas-based railcar maker
Beliefs, Behaviors, and Results: The Chief Executive’s Guide to Delivering Superior Shareholder Value, by Scott Gillis, Lee Mergy and Joe Shalleck (2013)
“What I really liked about the book is that it fits with the journey our company is on to change our culture from an earnings-focused company to more a returns-focused company. Specifically, why an economic profit measure will translate to more sustainable shareholder returns. Our leadership team has read the book and it has given us a common language and good framework to align around this change.”
Write to Kristin Broughton at [email protected]
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