Bill Nash, CFO of autonomous vehicle company Cruise, said: “We probably take at least a few rides every two to three weeks to see how the service is going.”
A majority-owned by General Motors but a wholly independent company, Cruise is based in San Francisco. The company said in February that a fully self-driving car had driven more than 1 million miles on him. In November 2021, Cruise completed its first fully driverless operation in San Francisco. Since then, the company has launched its first commercial driverless robotaxi service in a major U.S. city, completing its first driverless paid rides in Austin and Phoenix in December.
The company plans to introduce Origin, a self-driving car with no steering wheel or pedals, this year. Nash rode the test vehicle. I asked him how it was.
“Sitting in the back of the Origin, I’m tall, so I appreciate the extra legroom,” he explains of the trip. “It’s like business he’s on the class train, driving. But we still have some work to do in terms of bringing it to market.”
Nash joined Cruise in 2018 and served as Head of Finance and Accounting and then Vice President of Finance before assuming the role of CFO in 2020. His philosophy as Chief Financial Officer is: Business he needs to provide partners with resources to solve problems,” he says.
Life at Sea and Special Mentors
During the conversation, it turns out that he is also an engineer. His journey to financial leadership began at sea. “I was in a submarine underwater for his three and a half months,” Nash says of his longest tour, spent as a lieutenant in the U.S. Navy’s Submarine Force.
Do you spend a lot of time introspecting about your life? “You work so hard that you just focus on the task at hand,” Nash recalls of the experience. And the engineering project “had a lot of work to do,” he says.
His parents served in the Coast Guard and both were in the military, he says. Nash followed his family tradition and attended the Naval Academy to earn his bachelor’s degree. Later, while in the Navy, he earned a master’s degree in electrical engineering and ran the submarine engineering department.
After eight years in the Navy, Nash was hired by the biotech company Amgen to complete his MBA. “What I love about finance is that it’s cross-functional,” he says. Prior to joining Cruise, he served as senior director of finance at Oracle and Theravance Biopharma, and as divisional CFO at biopharmaceutical company UCB.
Mentors and sponsors are essential. “Even if they don’t look like you,” says Nash. who was your mentor? “There are a lot of people who have helped me along the way,” he says. But he gave a special name. Shannon Nash is his CFO of Wing, a drone delivery company and subsidiary of Alphabet.
change the landscape of traffic
Cruise has about 80 people in the corporate workplace, real estate, purchasing and strategy teams, in addition to the finance team, which reports to Nash, he said. The company is in a “rapid scaling phase,” he said. “We will build our business so that we can take advantage of the opportunities that are in front of us.”
As CFO, Nash is a strategic partner of Cruise founder and CEO Kyle Vogt. “One of the biggest changes he’s going to make in our lives is going from being driven to being driven. luck My colleague Phil Wahba said in a recent interview. “I can see that a lot of people are pretty nervous about getting into a driverless car at first,” Vogt told his Wahba about his concerns about the safety of self-driving cars. “But within a few minutes of him riding around, they get it. I think you will come to know.”
“Our goal is to really change the transportation landscape,” says Nash.
And he’ll likely be testing each new venture for years to come.
Enjoy your weekend.
A new Pew Research Center survey of 5,902 American workers, including 5,188 who are not self-employed, explores how workers feel about their current jobs and workplace experiences. increase. One area of research was workplace benefits. More than half (62%) of workers have jobs that provide time off, regular doctor visits, or paid time off to deal with minor illnesses, whether or not their employer provides them. said to be very important. A further 27% say this is very important. Meanwhile, 51% say it’s very important to have a job that provides employer-sponsored health insurance. According to the report, 28% say this is very important. Forty-four percent of respondents said having an employer-sponsored retirement program like her 401(k) was very important, and 32% said it was very important. And 43% say it’s very important to have paid parental, family or medical leave (31% say it’s very important).
Here are some of Fortune’s weekend reads.
“Marc Benioff says he’s doubling efficiency at Salesforce, so he can have empathy, cost savings, and layoffs.” by Michal Lev-Ram
“Who is Sergio Ermotti? Switzerland’s most successful banker is back to steer the UBS-Credit Suisse giant when needed.” (Christian Hetzner)
“An Ivy League school is approaching a $90,000 annual price tag, but experts say it’s still worth it.” Eleanor Pringle
“‘I’m Still Alive’: Elon Musk Reveals His Weird Breakfast Choices, Joins Other Famous CEOs With Weird Eating Habits” by Eleanor Pringle and Alexa Mikhail
Here is a list of notable moves this week:
Helen McCabe He was named CFO of Rolls-Royce (LSE: RR., ADR: RYCEY) and joined the company later this year. McCabe is currently senior vice president of finance for BP’s Customer and Products Division, running the company’s customer-centric business. She is also head of BP’s global refining portfolio. McCabe previously served as her CFO for BP Downstream’s fuel and sophisticated European and South African businesses. Prior to that, she was the head of downstream planning and performance management for four years.
Alexandra Brooks has been appointed interim CFO of Hertz Global Holdings, Inc. (Nasdaq: HTZ), effective April 1. Brooks is leaving the company after two and a half years as CFO, succeeding Kenny Cheung. Brooks is now Chief Accounting Officer of Hertz. The company has begun a formal search process for a permanent CFO. Cheung will remain with the company until April 14, 2023 to support the first quarter financial close process and expedite the transition process.
Kenny Chan has been appointed CFO of Art Cisco Corporation (NYSE: SYY), a global foodservice distribution company, effective April 17. board member. Cheung recently served as his EVP and CFO at The Hertz Corporation. Prior to his appointment as CFO, he served as EVP and Chief Operating Finance and Restructuring Officer, and held roles such as He SVP and He CFO of Global Financial Planning and Analysis for Hertz North America.
Erica Gesselt Effective April 25, I was appointed CFO of work marketplace Upwork Inc. (Nasdaq: UPWK). Gessert, who joined from PayPal (Nasdaq: PYPL), has held several senior leadership roles since 2015. He is the CEO and Senior Vice President of Finance and Analytics. Before PayPal, from 2009 to 2014, Gessert held various positions at Sprint Corporation. This includes Vice President of Finance for Sprint Postpaid Marketing, his CFO of the Sprint Prepaid business unit, and Director of Investor Relations. She previously served as Director of Investor Relations for Virgin Mobile USA from 2007 until she was 2009.
Adrian Mitchell, Macy’s, Inc.’s CFO, has been appointed to the additional role of Chief Operating Officer. In a combined role, Mitchell will lead the stores, technology, and supply teams for his chain, in addition to his existing financial and real estate responsibilities. Mitchell has been CFO since November 2020. Prior to joining Macy’s, Inc., he was Director and Partner, Managing Digital and Consumer Practices at Boston Consulting Group, advising retailers on growth strategies using advanced data and analytics.
Anastasia “Stacey” Pasteric Promoted to CFO of electric truck manufacturer Nikola Corporation (Nasdaq: NKLA). Pasterick will succeed Kim J. Brady, who will step down as his CFO effective April 7. Pasterick currently serves as Vice President of Nikola and his controller of Nikola’s Corporate. Prior to joining Nikola in 2019, he served as Erickson, Inc.’s Director of Accounting Operations and nLIGHT Inc.’s Corporate Controller. Pasterick started his career with his KPMG LLP.
tom panther Alyssa Vickery, Interim CFO, has been appointed CFO of FleetCor Technologies, Inc. (NYSE: FLT), a global business payments company, effective May 12. Prior to joining FleetCor, Panther served as her CFO at EVO Payments, Inc., which was subsequently acquired by Global Payments Inc. Prior to joining EVO, she worked for SunTrust Banks, Inc. for nearly 20 years, where she held numerous leadership roles, including Chief Accounting Officer. .
That said, it seems that massive layoffs are actually hampering their ability to restart when things turn around.
— Peter Capelli, professor of management at the Wharton School of the University of Pennsylvania, said: luck In an interview on the topic that layoffs may be a confession of bad management