- SuperChat with SuperCFO
- November 7, 2011
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SuperChat with SuperCFO – Rishi Vig
by Shaival S Trivedi
This week on SuperChat with SuperCFO, we are proud to present Rishi Vig, CFO at ZAFCO, which is the largest distributor of auto ancillaries in the Gulf Region. Rishi heads the Finance and Accounts function for them out of their Dubai office in the UAE. Rishi has a prolific experience of 21 years in his professional career setting strategic direction & precise execution and funds mobilization through both debt & equity including IPOs. Rishi is energetic and proactive in his management style and believes in tenaciously employing his financial acumen and leadership abilities to innovate ideas that enhance profitability and growth for his employers.
In this SuperChat, Rishi talks about his admiration for leaders like Jack Welch, Steve jobs and Warren Buffet and the critical importance of leadership in driving strategy and growth. He also feels that for leadership to succeed, it is very important to have the right people in the right positions to lend able support. Rishi is a cricket and golf aficionado and loves to spend time with his family and go for long drives. Please read on to know many more interesting facets on Rishi Vig only on SuperChat with SuperCFO.
SuperCFO: What particular skills or talents are most essential to be effective in your job apart from formal training?
Rishi Vig: With growing demands on the CFO role, it is imperative to demonstrate high level of leadership. Since majority of time is spent in driving strategy and growth, it is essential to have the right people at the right place and well defined processes with built in controls in place to manage the operations effectively.
SuperCFO: Who is your role model and why?
Rishi Vig: I admire Mr. Nayaranmurthy, for his incredible leadership style driven by ethics and values. He has not only transformed Infosys into a world class organization but also helped India to emerge as a young confident nation set to scale up new highs. The way he has managed the transition is remarkable by setting high standards of corporate governance.
SuperCFO: What has been your biggest achievement professionally?
Rishi Vig:
1) Debt restructuring of Texmaco group, USD 1 bl. Conglomerate in Indonesia, post Asia crisis in 1997 and negotiation with a group of investors for a favorable repayment terms.
2) Complete turnaround of Texmaco’s flagship company from USD 20 ml loss to the path of profitability.
3) The maiden capital offering of House of Pearl Fashions Ltd.
SuperCFO: Who are the 3 Corporate Honchos you admire a lot and why?
Rishi Vig:
- Jack Welch for his business acumen and thought leadership
- Steve Jobs for his product innovation
- Warren Buffet; He is really a genius
Rishi Vig:
1) Infosys for the Corporate Governance
2) Apple for product innovation
3) HSBC Bank for their people oriented approach
Rishi Vig:
1) Tax reforms:- Integration of country wide tax collection system with use of latest technology to minimize leakage and improve transparency to bring in parallel economy and converge into the mainstream.
2) Invest in basic infrastructure projects such as power generation, roads, ports and airports, education, Hospitals
SuperCFO: What would you advise aspiring CFOs on dos and don’ts to become a successful CFO?
Rishi Vig: Develop good understanding of the business and have a well thought of strategic plan. Communicate the strategy effectively across the entire company, and external agencies such as Banks, FI’s & Investors to have the right team, well defined processes and controls. Be transparent and ethical. Don’t be afraid of communicating a bad news
SuperCFO: What are your 3 “Must Ask” questions in an interview?
Rishi Vig:
• The value addition that candidate brings in and value addition that company provides to the candidate
• I believe in having the right attitude; skills can be developed
• Last but not the least, role fitment is quite important.
SuperCFO: Which is one accounting software that has impressed you and why?
Rishi Vig: SAP, it is really a powerful tool.
SuperCFO: How do you manage talent with in your team?
Rishi Vig: The effective communication is vital and one needs to provide constant challenge to the young professionals. The most powerful way is definitely the empowerment of people and just being a mentor and a guide.
SuperCFO: Are you a gizmo freak? What is your favorite gadget?
Rishi Vig: No I am not… a gizmo freak, Blackberry and IPad are definitely my favorite gadgets.
SuperCFO: What is your favorite piece of literature?
Rishi Vig: Epics Indian Mythology Ramayan, Mahabharat..
SuperCFO: Any sport that you are passionate about?
Rishi Vig: Cricket, Golf…
SuperCFO: Describe some of the activities that you undertake to de stress yourself?
Rishi Vig: Spending time with the family, long drive and listening to music is good stress buster for me.
SuperCFO: What has been your favorite vacation destination and why?
Rishi Vig: Goa & Bali; these are fun places.
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