A company’s management team is one of the top things investors will look at when deciding which companies are worth investing in. And for good reason. A strong management team with a proven track record will often be the deciding factor for how successful a startup will be. Leading provider of asset management solutions Universal mCloud (TSXV:MCLD) (OTCQB:MCLDF) is one company that continues to strengthen its already impressive management team.
Universal mCloud Announce New CFO
The company announced Monday that it has appointed Chantal Schutz as the Executive Vice President and Chief Financial Officer. She is a Chartered Professional Accountant (CPA) with more than 20 years of financial and operating experience, offering deep expertise in financial reporting, strategic planning, and corporate development.
Schutz has held leadership roles in private and publicly-traded companies of varying sizes and ran the Quality Control department for the audits of publicly-traded companies listed in Canada and the USA.
“We are thrilled to strengthen our executive leadership team with the appointment of Ms. Schutz,” said mCloud President and CEO Russ McMeekin. “Ms. Schutz’ track record of successfully leading the financial operations of fast-growing tech companies will be invaluable to our business as we continue to execute on our growth strategy in realizing our goal of industry leadership.”
The Evolving Role of the CFO
The primary role of a Chief Financial Officer (CFO) is managing the financial actions of a company, however, a CFO’s role has evolved over the years to include much more. Nowadays, it is increasingly important for CFOs to be strategists, to help shape the overall strategy and direction of a company, and catalysts, to instill a financial approach and mindset throughout the company to help other parts of the business reach optimal performance.
Luckily, Universal mCloud’s new CFO Chantal Schutz has an impressive entrepreneurial background that includes a ton of experience with strategic planning, business expansion, organizational management, systems and process development, and financial reorganization.
Schutz began her career working as a senior accountant at multinational companies like KPMG and PwC. She then served as the CFO at Back in Motion Rehab, where she secured more than $2 million in bank financing while at the same time doubled revenues. At Back in Motion Rehab, Schutz also implemented new systems where necessary and made changes to existing systems to ensure better utilization of staff time and process efficiencies.
Schutz is also the Director and Chief Executive Officer at Vancouver-based NYCE Sensors, an IoT technology innovator and state-of-the-art hardware solutions developer. As CEO of NYCE Sensors, she is fully in charge of all operations, financial management, important customer relationships and sales, and strategic planning. On top of that, Schutz also currently sits on the board of Clean Seed Capital Group (TSXV:CSX) (OTCMKTS:CLGPF).
Schutz will officially become CFO on Thursday, May 30, the same day mCloud is releasing its financial results for Q1 2019 and fiscal 2018. The company will be holding a conference call to discuss its financial results, which will offer investors a chance to ask questions and will include prepared remarks from mCloud’s CEO Russ Meekin and from its newly appointed CFO.
Investors will want to keep an eye out for Universal mCloud’s financials later this week, which were delayed by ongoing audits due to the company’s significant and complex acquisition activity in 2018 that has accelerated into 2019.
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