Celebrating the 2023 CFO of the Year honorees
Julia Shiota, MNCPA communications coordinator | December 2023/January 2024 Footnote
If there is one thing the MNCPA can boast, it’s that our members are movers-and-shakers within the industry, often winning awards and recognition for the work they do. One such example is the annual
Minneapolis-St. Paul Business Journal’s CFO of the Year Awards. The award recognizes financial executives and specialists for their contributions to their companies and the broader community.
This year, we celebrate five members who were honored at the MSPBJ’s November event. Honorees include Tom Cronin, CFO of Roers Companies; Gretchen Kelly, CFO of Nystrom, Inc.; Traci Morris, CFO of Essentia Health; Kersten Zupfer, CFO of Regis Corporation; and Lois Martin, CFO of Mortenson Company, who was recognized as a Career Achievement recipient.
With so many years of experience between them, we spent some time hearing their reflections on their careers and what insights they’ve gleaned.
Tom Cronin, CPA, MBT
CFO, Roers Companies
How long have you been a CPA?
I’ve been a CPA for quite some time now — long enough to recall the days of dial-up internet access! I climbed my way up from a tax accountant to be the vice president of tax for a $20 billion bank. After that, I transitioned into financial accounting and eventually landed my current role.
Tell us a bit about your role. What do you enjoy the most about it?
On top of traditional CFO duties, I am part of the executive team at Roers Companies, which develops and implements the company’s strategic plan. I’m also in a unique position as a CFO because I can lead a group of sharp-minded leaders of the marketing, property management, IT and legal departments. It’s the people surrounding me who make what I do possible, and I appreciate the variety of teams I encounter. I enjoy the collaboration, as well as learning from those I work with. It feels great to work together to achieve our goals.
What is the secret to success as a CFO?
The key to success is to surround yourself with individuals who are not only smarter than you but are also people you genuinely trust. It’s not only about having a fantastic team; it’s about ensuring these great individuals continue to be great by encouraging and developing their talent. Success is a team effort and, with the right people by your side, you can achieve great things.
The CFO role comes with a lot of responsibility and pressure. What things do you do to decompress?
Maintaining a regular workout routine and watching movies are my go-to ways for unwinding and relieving stress. I also enjoy watching my kids play sports — any team my kids are on becomes my all-time favorite team!
Gretchen Kelly, CPA, CCIFP
CFO, Nystrom, Inc.
How long have you been a CPA?
I received my license from the Minnesota Board of Accountancy in 1996.
Tell us a bit about your role. What do you enjoy the most about it?
I am the CFO at Nystrom, Inc., a manufacturer of specialty building products and I’ve been with the company for 10 years. My responsibilities
include working with leadership to establish and execute on our strategic initiatives, setting budgets, supervising our finance team, setting financial
policies and maintaining relationships with our outside accountants, bankers and lawyers. Nystrom has a wonderful culture and is a great place to work. The best part of my role is working with our outstanding leadership team and my finance team, who show up every day ready to take on the challenges in front of us.
What is the secret to success as a CFO?
I truly believe success comes from doing what you love to do. I can’t think of anything I’d rather be doing at this time in my career!
The CFO role comes with a lot of responsibility and pressure. What things do you do to decompress?
I love the outdoors and being active, which provides me with the most balance. My activities include bicycling, riding motorcycles, gardening, hiking, golfing, cross country skiing and snowshoeing.
Traci Morris, CPA, MBA
CFO, Essentia Health
How long have you been a CPA?
25 years.
Tell us a bit about your role. What do you enjoy the most about it?
I am the CFO for Essentia Health, a regional integrated health system headquartered in Duluth, Minnesota. I enjoy
interacting with patients in the hallways and elevators and hearing their stories about how we are making a difference in their lives. I am also energized by the complexity of a large system and the ability to work with people of different backgrounds. Health care is constantly changing, which gives me the opportunity to learn and to regularly do something different and exciting.
What is the secret to success as a CFO?
I don’t think there is just one secret. However, a few that come to mind are listening and developing a strong team. It’s important to listen to all sides, as well as to keep an open mind and seek understanding before moving forward. I also believe you must develop a strong team with diverse
strengths and skillsets to partner with. Lastly, always look for opportunities to learn and develop — things are continuously changing, so you must learn to adapt!
The CFO role comes with a lot of responsibility and pressure. What things do you do to decompress?
Exercise is a great way for me to decompress. I alternate between weight and cardio workouts most mornings before work. A few hours on the golf course, biking or just walking in nature also goes a long way. I believe it is important to take time off to relax and rejuvenate. Personally, I enjoy beach vacations, fishing in Canada and trips to explore new places.
Kersten Zupfer
CFO and executive vice president, Regis Corporation
How long have you been a CPA?
Since February 1998.
Tell us a bit about your role. What do you enjoy the most about it?
What I love most about my role is each day is different. My days can include anything from board meetings, investor calls, internal meetings, financial statement reviews and so on. Even though I have been at Regis for more than 16 years, I am still learning and growing. Looking back, I see it was the toughest situations that I still reflect on and realize how much I have learned since.
What is the secret to success as a CFO?
I don’t know about all the secrets to success and would certainly like to find them! However, I do attribute a lot of my success to building and
retaining great teams. My team is reliable, dedicated, hardworking and loyal. They sure make my job easier!
The CFO role comes with a lot of responsibility and pressure. What things do you do to decompress?
To decompress, I try to get outside for fresh air and go for walks. I also enjoy spending time with and laughing with my family — you can find me at a hockey rink watching my kids play all year round.
Lois Martin, CPA
CFO, Mortenson Companies, Inc.
How long have you been a CPA?
Since 1986 — so more than 35 years!
Tell us a bit about your role. What do you enjoy the most about it?
My role is primarily being the business partner to the chairman, CEO and senior executives. I oversee all financial and IT functions of the business, develop talent and driving diversity, participate in developing and executing the strategic plan and long-range planning, as well as supporting operations and overseeing capital allocation. I enjoy the seat at the table the CFO role provides, along with the interaction across the organization. The evergreen business challenges and problemsolving opportunities that come from my role are something I also enjoy, because they facilitate
personal growth.
What is the secret to success as a CFO?
Having a sense of humor and developing interpersonal relationships across the business.
The CFO role comes with a lot of responsibility and pressure. What things do you do to decompress?
I play hard, count my blessings and make sure to invest time in my spiritual life. I also spend time with family and friends, as well as running and exercise. I also try to find time for travel.
