One of the unspoken truths about interim CFO roles is that they sometimes don’t lead to an actual CFO role—a fact that has turned more than a few seasoned finance executives into chronic nail-biters.
For Jared Poff, who ultimately cleared all hurdles as an interim chief to land inside the CFO office at Designer Brands (formerly DSW), the job title ended up leaving a lasting impression.
“I sat in the interim role for nearly 6 months, and they were absolutely the most grueling 6 months of my career—outside of COVID, maybe,” recalls Poff, who was recruited to Designer Brands back in 2015 with the expectation that he was going to be groomed by the company’s then-CFO to take over her role within the next few years.
For Poff, a former Cardinal Health finance director and more recently treasurer at retailer Big Lots, the plan was to join Designer Brands as treasurer and take a year or two to beef up his accounting and controllership experience before entering the C-suite.
The fact that he was swapping a treasurer role at Big Lots for a treasurer role at an organization which at the time was only half the size of Big Lots didn’t seem to matter, as Poff viewed the Designer Brands opportunity as one that offered a viable on-ramp to the CFO office.
However, Poff tells us that within months of joining the company, Designer Brands’ board put in motion a CEO change at roughly the same time that its then-CFO got recruited to fill another CFO opportunity.
“I was named “interim” because the board was not 100 percent comfortable that a first-time CFO was a good match for a first-time CEO,” remarks Poff, who remembers wondering whether his career calculus may have been faulty.
“I was treasurer, I was controller, and I was CFO, and because I didn’t know whether I’d be keeping the CFO position, I couldn’t hire for the other two roles,” reports Poff, who came across a list of 70 possible CFO candidates that was circulating among board members.
“It was as if I were interviewing for the position every day, but I did get the nod,” comments Poff, who recalls his early days at Designer Brands as a period of accelerated learning.
Says Poff: “I would do it again in a heartbeat—when it’s trial by fire, you just learn everything.” –Jack Sweeney
