CFO Forum, October 26, 2016

Michael Corridon, Chief Financial Officer, Strato, Inc., leading manufacturer of industrial railroad and transit industries products, will lead a peer group discussion on the topic of “Ethical Dilemmas of the CFO.”

What if you are asked to do something you feel you just can't do?  What if you see something that you feel is just wrong. Or what if you’re just not certain? How do you decide what to do? If it's a request or action of the CEO, do you try to change his or her mind? Can you accomplish an orderly process with your superior? What if you can’t? Do you go to the Board, audit committee or in-house or outside counsel for resolution, or can you find guidance with professional ethics rules?  What if the Board agrees with the CEO and you still can't come to terms with it. Do you resign? While these situations are likely deeper than simply legal questions, will you have to ultimately seek protection or recourse under the various federal and state whistleblower laws?  Who can you call that you trust, both for judgment and confidentiality? Issues can be across-the-board, including revenue recognition, an ill-logical attempt to make quarterly numbers or fill in the holes, being asked to sign documents, whether bank certificates, rep letters, covenants, Sarbanes-Oxley documents, or attempted cover-ups of safety, health and regulatory violations. 

Many of us have had this dilemma. When it happens you feel like you're all alone. How do we handle it when it happens? How can we prevent it? Mike has kindly offered to lead a group discussion in this area to provide an opportunity for attending CFO’s to share thoughts, questions and experiences in these delicate situations.

Michael Corridon is a seasoned financial executive with over 25 years experience including over 10 years as CFO for several corporations. Most recently, Mike was named CFO of the Year 2013 by NJBIZ. Mike has been CFO of Strato for the past eight years with responsibilities to directly manage Treasury, Taxation, General Accounting and Manufacturing and is a member of the company's Executive Team responsible for overall growth strategy including new product development and acquisition opportunities. Mike has also served as an Adjunct Professor for the Rutgers Business School since 1999.  Mike’s prior positions have included CFO of the Polywood, Inc., CFO of the Centercore Group, Inc. and Senior Manager with Amper Politziner and Mattia, P.A. (now EisnerAmper), among others. Mike has a BS in accounting from St. Peter's College and an MBA in Finance from Rutgers University, and is a Certified Public Accountant.

Strato, Inc. is a NJ-based leading manufacturer of industrial railroad and transit industries products. As an industry leader in product design and development, Strato manufactures, develops and engineers quality products for the railroad and transit industries including freight car, transit and locomotive air brake hose assemblies, custom hoses, custom castings and fabrications, weld fittings, pipe clamps, couplings, heavy duty yokes, test devices & specialty tools and many other railroad and transit products. The company has used AAR M-1003 and ISO 9001:2000 standards enabling it to provide the highest quality products and services in the industry. Strato is a key partner with railroads, major car builders and governing bodies such as the AAR and ARCI, and is proud to be named an "Excellent Supplier" by TTX, winning the award for 17 consecutive years.