Jens Keller
CFO – Chief Financial Officer
Was there a defining moment that shaped your financial philosophy?
There is no single defining moment. It is a process influenced by several entrepreneurs and activities with different requirements. What they all have in common is the experience that financial independence is an important prerequisite for entrepreneurial activity. In particular, operational decisions must not be restricted by financial constraints in the short term. We must be able to do what is economically right. In the medium and long term, the same applies to strategic decisions. Conversely, this also means that financial independence must not lead to reckless decisions. Just because something can be done does not necessarily mean it is the right thing to do.
What feedback changed you the most as a leader?
“It may be my company, but these are the goals that we have set ourselves and that we want to achieve.”
When strategy and financial reality don’t align, how do you navigate that tension?
The strategy aims to achieve a target vision, but must also ensure that all practical requirements are met. Often enough, reality determines what is possible or necessary in the short term. The task then is to examine the steps required to achieve the strategic objective. The result may be that a longer path to the goal is necessary, that a different path to the goal must be chosen, or that the goal itself must be adjusted. Strategy is therefore a goal that is achievable on the basis of reality and not a dogma that ignores reality.
What role does scenario planning play in your decision-making?
There is never just one good and one bad option when making decisions. We have to consider many variables and possible changes from the time the decision is made to the time it takes effect. Scenarios, i.e., representing how changes in influencing factors affect the outcome of a decision, are an important tool in this process. You can see how much an outcome improves or deteriorates when you make different assumptions for individual influencing factors. You can then deduce which influencing factors are decisive and which are less important. This is extremely helpful in enabling you to concentrate on the important factors when making the decision and subsequently implementing it. In addition, it also allows you to assess the risks involved in certain decisions. Scenario planning is therefore not only about the decision itself, but also about assessing and managing risks.
Courage is one of our values - what does it mean in the context of financial leadership?
Courage means acting decisively to ensure long-term financial goals. Despite the fear, uncertainty, or pressure to act opportunistically. It is the acceptance of this and the choice to proceed with a well-thought-out plan rather than giving in to emotional, short-term reactions. That includes fighting for a plan during volatility, overcoming short-term loss aversion, it is about a long-term goal, informed risk taking after due diligence procedures, and last, but not least, admitting (financial) reality.