Coworking is a weekly segment where we talk to CFOs and other leaders in the finance space about their experiences, their companies, and the larger economy. To be considered, answer a few quick questions for us here and we’ll be in touch if we want to feature you in the newsletter.
Tom Fennimore is Chief Financial Officer of Luminar Technologies, an automotive technology company based in Palo Alto that builds safety and autonomy material for vehicles.
This interview has been lightly edited for length and clarity.
How would you describe your job to someone who doesn’t work in finance?
My job is to make sure Luminar has the financial and other resources to achieve CEO Austin Russell’s bold vision of saving 100 million lives and 100 trillion hours over the next 100 years.
How do you think the CFO role has changed over the past five to 10 years, both for you, and in general?
It was easier to raise capital five years ago than it is today. With the days of “free money” over, it’s a much more complex financial world for companies to navigate. CFOs need to be more strategic, thinking well beyond the fiscal year to understand both the opportunities and threats their companies will face.
What’s something we can’t guess about your job from your LinkedIn profile?
In my role as CFO at Luminar, I’m also in charge of our business development efforts. That means I spend a lot of time meeting with our customers, which gives me greater insight into the investments we make to serve them and to maintain our leadership position. Working directly with our global automotive customers is also a ton of fun. Just recently, I attended Volvo Cars’s unveiling of the new EX90. It was inspiring and emotional to see our technology integrated into what will be the first global vehicle to come standard with Luminar.
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What advice do you have for future CFOs?
Be a strategic partner in helping your CEO grow the business. Be proactive in advising him or her on the best way to raise capital, pursue acquisitions or enter new markets. Spend more time thinking forward versus looking backward.
Who’s a CFO you admire or you try to model yourself after?
I admire David Viniar, who served as CFO at Goldman Sachs during the 2008 financial crisis. He made sure Goldman survived the Great Recession by preparing in advance and making tough decisions in the middle of the storm. In general, I admire people who can lead through tough times.
If you weren’t a CFO you would be... ?
My other dream job would probably be to coach high school football because of the positive impact you can have in developing and mentoring students. I was captain of both my high school and college football teams and witnessed firsthand the positive impact a great coach can have on young men. For the time being, I’m preparing for my post-CFO career by coaching my son’s football and basketball teams (he’s 7).—KT