CEO Insights Magazine

Recent developments have resulted in unparalleled growth in financial strategy and technology innovation. As these interdependencies continue to grow, so do the related risks, requiring all individuals and organizations to adopt a more defensive approach on the business side, seeking clarity on their preparedness for the future ahead, and taking appropriate precautions to be change ready. Despite the efforts of financial specialists, the finance visual tends to deteriorate year after year. Given the fact, the role of a CFO is constantly being challenged due to the sea of evolutions in business conduct, it is vital for organizations to recruit the best for the perfect decision-making and directly contribute to the growth of the organization.

By becoming more agile, and getting into data-driven scenario planning, today’s CFOs can model out the potential impacts of market risks- preparing their companies for potentially complex risk scenarios, including looming recession, inflation, geopolitical unrest and increased cybersecurity vulnerabilities. Not only they should be deeply involved in undermining the financial side of the organization but developing commercial experiences and strong interpersonal skills, be the driver of change within the companies going performing beyond financial numbers & analytics. Holding such exemplary skills, expertise, and knowledge, redefining them as per the changing business dynamics respective of business & finance equally is Hyder Hasan (CFO, YTY Group Malaysia).

Currently, he has been committed to drawing YTY Group (one of the largest manufacturers of Nitrile Examination gloves and a leading supplier of Polychloroprene Examination gloves) towards a growth trajectory handling its Finance & Procurement functions. CEO Insights recently got in touch with Hyder Hasan and he walked through his greatest career endeavors, and his journey with the company, followed by future plans.

Enlighten us with your journey in the Finance & Operations domain and what drives you today as an industry leader.

With over 26 years of professional experience in Consumer & Health Care industries, I am fortunate to work in both B2B and B2C MNCs, while doing global, regional and country roles, and having the lovely experience of living in five countries in South East Asia and South Asia regions. Majority of my career has been with Unilever, followed by working for Ingredion and now with YTY Group. My professional journey is driven by doing roles that were aligned with my career objective and contribute in broadening my learning horizon. In this discovery, geographic boundaries were never considered.

I am away from my home country Pakistan for 19 years and have thoroughly enjoyed experiencing the culture & working with people of Malaysia, Singapore, Thailand, and Philippines. My Passion for Growth drives me, new Learnings drive me and most importantly People drives me. At personal front, my family drives me and at professional front, my team, my business partners, my consumers, my customers, my suppliers and my shareholders drive me.

How would you define YTY Group? Also, where is the company positioned in the market?

YTY is a Health Care company, manufacturing highquality, single-use examination gloves. The corporate ethos of YTY are around quality, service and value making. YTY is one of the largest and most reliable manufacturer of single-use Nitrile Examination gloves and leading supplier of Polychloroprene Examination gloves.

Beyond single-use examination gloves, YTY also offers single-use Surgical gloves. YTY is positioned within the industry for technology, quality and innovation in examination gloves and it is focused on long-term partnerships and customized hand-protection solutions. The company is category leader in high-quality, low-weight singleuse gloves and is passionate about incorporating 'next gen' solutions in the manufacture of products using innovative polymer chemistry, advanced production systems, and the adoption of leading technologies.

As the CFO, how do you intend to build further on this impeccable reputation of the company?

One of the major role of a CFO is to have a vision and to incorporate strategies that benefit the organization for long-term. Incremental revenue, operating margin, cash generation, capital expenditure, working capital investment, cost of capital are some of the value drivers of shareholder value. Looking at these elements also makes it clear that short-term profit maximization does not necessarily increase shareholder value. I intend to build the reputation of the company by having a long-term vision and therefore maximize shareholder’s value. This is extremely important to note that while a focus on shareholder value can benefit the owners of a corporation financially, it does not provide a clear measure of social issues like employment, customers, environmental issues or ethical business practices. Along with the objective of maximizing shareholders’ value, I actively consider these areas in my decisionmaking process, as they contribute in building on the impeccable reputation of the company.

You possess over twenty-six years of experience. How has your path to success been and what is your success mantra?

Success has many definitions, and I don’t see myself as a successful person. I am only a lucky person. I have felt many times that the wind was at my back. Working with sharp and great minds makes me feel lucky, working for a great company, makes me feel lucky, working in a developing and growing market, makes me feel lucky. I am only a sincere and hardworking person who does not know how to give up and carries his values & integrity. I ensure the growth of the organization and the development of people working for me & with me.

As the CFO, how do you determine the profitability of investment of the company? Tell us about your leadership approach. What are the guidelines or methodologies you follow to lead your team?

Investment decisions are made to reap maximum returns by allocating the right financial resource to the right opportunity. These decisions are taken considering two important parameters – risks and returns. To determine the profitability of an investment I use metrics that are widely used in the finance community, NPV (Net Present Value), IRR (Internal Rate of Return) and Payback period.

Correct investment decisions are important because they contribute in moving forward, while wrong investment decisions cost money. It is sensible to remember here that in the real world, ‘perfect’ decisions are a myth. Decision-making will always be an exercise in coping with an unknowable future. No amount of deliberation can ever guarantee that you have identified the 'right' option. It is actually important for me to own the outcome. The purpose of a decision is not to find the perfect option. The purpose of a decision is to move to the next decision.

My leadership style is flexible, analytical and focused, with strong opinions and views. I value my relationships and try to maintain harmony at workplace, but not at the expense of making poor decisions. I am thorough and logical in my thinking and quite inclined to stick with a particular course of action once I make up my mind. I give significant importance to communication, - communicating a vision of the future that motivates my team and communicating organization strategy and objectives so that the team is fully aware of the direction & priorities. Also open, honest & two-way communication is very important for me. Good ideas & good practices are openly shared in my team, while I create a climate where people can voice concerns and can be heard.

Going forward, what are the changes in market behavior that you anticipate and what are the opportunities that you foresee as a leader?

The Covid-19 pandemic had a massive impact on glove market and consequently glove manufactures, as demand for single use protective gloves, far outstripped the ability of producers to supply, resulting in price increase and therefore market growth. Such massive market demand and market growth resulted in capacity expansion across the board and open doors for new entrants into the glove industry, resulting in increased competition.  

Post pandemic market situation reversed. Due to increased capacities, higher competition and pressure on margins, consolidation activities are expected in the glove industry. YTY sees these are helpful changes whilst the markets will be served by strategic players with a more measured view on installing capacity. After the pandemic it has been assessed that glove usage has grown and the organic growth is driven by additional usage in retail, travel and hospitality segments. Malaysia remains the world's preferred source of high-quality gloves, YTY Group is well positioned here with production in Malaysia and Indonesia and that make it a supplier of choice for specific brands.

Any advice you would like to give to the upcoming industry leaders?

This world has seen many leaders and will see many more in times to come. The leadership competency that has always been rare and I hope to see upcoming leaders with more of it, is Humble Leadership. Humility in leadership is the ability to consider others’ opinions, act with self-awareness, and lead from a spirit of generosity. Humble leaders will practice emotional intelligence and show appreciation for others while curating a work environment that prioritizes employee empowerment. Leaders with varying leadership styles can practice humility by taking responsibility for mistakes, striving for continual growth, and encouraging teamwork.

Coming specifically towards finance leadership, almost one in three CEOs worry that their CFOs are not prepared for the challenges ahead. Being a CFO is no longer only a matter of numbers and financial analytics. CFO’s job description has shifted from counting pennies to being a driver of change within companies.

The successful CFOs of tomorrow, need to understand the business drivers behind the numbers and take actions towards driving profitable growth. While numbers still need to be crunched and books need to be balanced, the next generation of digitally-savvy financial leaders have their best, and most important tasks, ahead of them – leading with commercial excellence, mastering change, translating financial data into real-world strategies and influencing strategic decision makers.  

Hyder Hasan, CFO, YTY Group Malaysia

Having over 26 years of experience across the global consumer goods and healthcare industry, he is a humbled finance leader and business partner who ensures that the company grows and along with it the people too, making a wholesome work & growth environment.