Shownotes
Back in 2001, after Scott Dussault had been named CFO of StorageNetworks, it’s unlikely that the 30-year-old finance leader was popping any champagne corks. The company’s management had offered him the position when its previous CFO had vacated the office to serve as CEO in the aftermath of the dotcom bubble collapse.
“The ride up the roller coaster was exhilarating—the ride down was educational,” explains Dussault, who had joined the firm as a controller in 1999 and been promoted to vice president of finance within 6 months.
“We hired 1,000 people in 3 years and grew the company to $150 million in revenue,” recalls Dussault adding some context to the “ride up.”
In 2000, when StorageNetworks went public, its stock climbed 234 percent in its first day of trading—a frenzied indicator for a company whose customer portfolio was known to be 80 percent Internet-related application vendors and dotcom customers.
The CFO office at StorageNetworks turned out to be where Dussault logged some of the most difficult days of his career as the collapse of the dotcom economy cut short the life of many of his firm’s most loyal customers.
“I had a terrific vice president of investor relations and she and I suffered through a quite few meetings with analysts, but I took those learnings with me,” says Dussault, who credits the challenges that he encountered during the “ride down” or the aftermath of the collapse with leading him to build better and stronger relations with investors and analysts during future CFO career chapters. - Jack Sweeney
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