How do you create value for shareholders? For example, we bought an eSports company because all the indicators suggested a tremendous potential for success, even though the company was losing money. The key to successful innovation is to manage risk with the right level of analysis. When we restructured, we made a conscious decision to start a culture of innovation and put together a new management team with innovation in its DNA. We restructured early in the new millennium and have been on an upward trajectory since then. I spent the first 10 years selling off non-core assets. When I started, it was diversified into a number of non-theatre businesses. People always ask me how I can stay in one organization for such a long time, and I answer that Cineplex has been many organizations. Thanks to our loyalty programs, we know the buying habits of our six million members and we can customize our offerings.
#NELSON GORD HOW TO#
It helps us understand how to schedule, predict the popularity of films that haven’t been released yet, and understand the impact of weather on movie-going patterns, to name just a few variables. How important are data analytics in your decision making?Ĭapturing data is incredibly important to us. Fortunately, I have a strong team under me. I sometimes say no to an opportunity, but it’s part of my philosophy of disciplined risk taking. A big part of my role is assessing new opportunities quickly, before the company decides to dedicate resources to them. I provide executive oversight to numerous departments including the risk-management and business-development groups. My job requires a fairly broad skill set. I only wish my mother were still alive so I could share the news with her. Being named Canada’s CFO of the Year took me by surprise and was a great honour. I had a good aptitude for numbers and my parents had me record my purchases in a ledger book, so you might say I was groomed for finance. My natural goal from the start was to be CFO. CFO OF THE YEAR DRIVES A LOT MORE THAN THE BOTTOM LINE When you were starting out, did you ever think you would become a CFO, let alone Canada’s CFO of the Year? Hint: a flair for figures is only the beginning. His hectic schedule gives him little time for R&R, but he was kind enough to chat with CPA Canada about his job and the skills required for the climb.
Now in his 28th year at Cineplex and his 13th year as CFO, Nelson intends to keep on keeping on. His outstanding leadership didn’t hurt, either. FEI Canada, which sponsors the award, praised Nelson for his commitment to innovation and willingness to disrupt the status quo. Instead, he learned he had been named Canada’s CFO of the Year. “I received the call while on vacation, and I assumed there was a problem back at the office that needed my attention,” says Nelson.
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