CEO Insights Magazine

In the modern finance sector, women have increasingly taken on critical leadership roles, driving innovation and strategic development. Amid this, Head of Finance & Control position demands a comprehensive understanding of financial systems, risk management, and strategic planning, and women in these roles are bringing unique perspectives along with management styles, contributing significantly to the success and sustainability of their organizations. Mirela Trost exemplifies the profound impact women can have in the finance domain. With a robust academic foundation, having earned a Master's degree in Economics in Croatia 25 years ago, Mirela launched her career as an Auditor at Arthur Andersen, later transitioning to EY. Her five-year tenure at these 'Big 4' firms provided her with invaluable exposure to a variety of sectors and businesses, fostering a deep understanding of industry operations and financial practices. This period of her career laid the groundwork for her future successes.

Alongside her professional achievements, Mirela also earned her ACCA Certification, demonstrating her commitment to excellence in the field of finance. Her journey with Nestle began 20 years ago, a decision she remains grateful for. Starting in the finance team in Croatia, Mirela's career with Nestle has been marked by diverse roles and geographies, each contributing to her comprehensive financial acumen.

Mirela’s trajectory within Nestle saw her move from Croatia to the internal audit team in Switzerland, then to Nestle India where she expanded her expertise beyond finance, auditing functions such as HR, Supply Chain, and Manufacturing. Her next significant role was in Nestle Greater China, where she spent nearly seven years at the Beijing headquarters. Immersed in the dynamic and challenging business landscape of China, she gained insights from diverse talents, fostering a rich learning environment.

In 2015, Mirela returned to Switzerland to join the Zone Europe finance team at the Nestle Global Head Office, before transitioning to the Nespresso Group headquarters in Lausanne. Her leadership capabilities were further recognized when she led the Nestle Group Reporting team, gaining valuable global corporate experience.

For the past two years, Mirela Trost has been leading the Finance function at Nestle Hong Kong. Her extensive experience and commitment to learning have made her an indispensable asset to the organization, exemplifying the role women can play in leading finance teams with expertise and vision.

CEO Insights Asia engaged in a one on one interaction with Mirela Trost, let’s hear from her.

Could you elaborate on some of the significant milestones you've achieved and the valuable lessons you've gained throughout your career?

Over my two-decade tenure at Nestle, I've navigated through diverse brands, categories, and global landscapes, collaborating with exceptional talents and visionary leaders. This journey has been transformative catalyst for growth, continuous learning, and profound self-discovery. One of the most pivotal lessons I've learned is the importance of adaptability in navigating different cultures and the immense value of embracing diversity. While initially challenging, my years of living and working abroad have enhanced my skills in active listening, cultural appreciation, and a steadfast commitment to personal and professional development. These experiences have not only sharpened my problem-solving abilities but also fueled my insatiable thirst for knowledge, empowering me to make meaningful contributions to both my company and the communities I deeply care about.

In today's business landscape, the role of a financial leader has evolved significantly, transitioning into that of a strategic partner within the organization. How do you approach understanding best practices and delivering value to the business?

The evolution of the Financial Head role has been profound over the years. In the modern context, the responsibilities of a CFO extend far beyond traditional financial tasks, requiring a keen strategic vision and alignment with organizational objectives. Amidst the ever-changing and complex operational environment, CFOs must stay attuned of industry trends while fostering close collaboration with the CEO, acting as a trusted 'co-pilot'. By leveraging strategic insights, CFOs are equipped to identify growth opportunities and proactively mitigate risks. This strategic guidance enables effective resource allocation, facilitates profitable expansions, and ensures the long-term viability of the business. Through the implementation of optimized financial strategies and performance-oriented initiatives, CFOs play a pivotal role in driving sustainable business success.

What impact does this approach have on guiding and influencing the decision-making process? How does your role become a vital catalyst for shaping choices?

Embracing a holistic approach to decision-making is pivotal for driving organizational progress. By creating strong partnerships across all aspects of the business, CFOs assess financial performance, reveal opportunities for operational efficiencies, and cultivate a culture of collaboration. Breaking down organizational silos enables the implementation of comprehensive improvement initiatives, cost-saving potentials, and formulation of revenue optimization strategies that excel the entire organization forward. It's imperative to strike a right balance between managing the healthiness of the financials, upholding product quality, ensuring compliance, and prioritizing consumer-centricity. By harmonizing these elements, CFOs emerge as pivotal decision-making influencers, ensuring sustainable growth and resilience in the face of external challenges.

How do you guarantee the upkeep of the company's financial health?

Preserving the financial stability of the company demands a multi-layered approach encompassing integrity, regulatory compliance, and strategic financial planning. Through the implementation of robust performance indicators, alignment of budgets with strategic objectives, and meticulous forecasting of revenues and cash flows, we ensure the availability of resources for both growth initiatives and obligations. Vigilant monitoring of working capital and optimization of cash cycles are essential components, alongside the maintenance of a healthy balance sheet and the fulfillment of commitments to stakeholders. Prioritizing obligations to vendors, creditors, financial partners, and the wider community underscores the holistic nature of financial stewardship. This dynamic and stimulating role at the heart of the organization is both challenging and rewarding, motivating me to excel in safeguarding the company's financial well-being.

How do you address the challenge of identifying and managing financial risks that could potentially impact the company's stability and reputation?

From my perspective, the quality of our products and the reputation of our company are paramount. Protecting the stability and reputation of the company relies as well on the identification and mitigation of financial risks. Hence, collaborating closely with our treasury experts, we assess various risks such as currency fluctuations, interest rate changes, credit risks, and market volatility. Utilizing risk management tools such as hedging, insurance, and portfolio diversification, we aim to mitigate these risks effectively. Additionally, Nestle's robust internal controls and compliance measures play a crucial role in enhancing financial integrity and preventing fraud. By proactively implementing these measures, we establish a solid foundation for maintaining the company's stability and upholding its esteemed reputation.

Could you share insights into your leadership approach? What principles or strategies guide your leadership style?

Reflecting on my diverse journey at Nestle, where I've learned invaluable lessons from the individuals I've came across, my leadership approach emphasizes leading by example and prioritizing integrity above all else. I encourage behaviors that are based on high set of values and work ethic, nurturing a culture of learning, innovation, and personal growth. Central to my approach is the recognition that people are paramount; without a dedicated team, fulfilling my role effectively would be impossible. Hence, I prioritize talent development, acknowledging each team member's unique strengths, challenges, and aspirations. By aligning their development with their individual goals, I aim to facilitate their professional growth and personal fulfillment. Additionally, I believe in celebrating achievements and providing unwavering support during times of adversity, encouraging my team to continually strive for excellence and progress. My leadership philosophy revolves around empowering and inspiring team members to unlock their full potential and achieve remarkable outcomes. In an ever evolving and complex business landscape, I am committed to nurturing finance talents and preparing them to excel. It's my sincere hope that my leadership actions positively influence my team members, inspiring them to consistently deliver their best.

What sort of impacts do you envision making as you continue your professional journey?

As a member of the Nestle team, I consider it both an opportunity and a privilege to be part of impactful initiatives that pave the way for a sustainable future, for society and the environment. By collaborating across various functions, to enhance healthy, balanced diets through the production of safe and high-quality products, uphold our commitments to sustainability, achieving net zero emissions by 2050. Additionally, initiatives such as implementing eco-friendly packaging and sustainable practices across the value chain are integral parts of our efforts. Through my support of these endeavors, I am dedicated to contributing a lasting legacy that benefits future generations, ensuring a brighter and more sustainable future for our children.

Mirela Trost , Head Of Finance & Control, Nestle

Mirela Trost is the Head of Finance & Control at Nestle, with over two decades of experience in finance. She holds a Master's degree in Economics and is an ACCA-certified professional. Starting her career at Arthur Andersen and EY, she joined Nestle, excelling in roles across diverse brands and geographies. Mirela's expertise lies in strategic financial planning, risk management, and fostering collaborative environments. She is dedicated to driving sustainable growth and ensuring financial integrity within the organization.

Favorite Book: ‘Gone with the wind’ by Margaret Michell

Favorite Travel Destination: Skiing in Zermatt, Switzerland

Recognition: The Association of Chartered Certified Accountants (ACCA)

                      Leadership program at London Business School