CEO Insights Magazine

Soon Lock Chong

Finance Director

The athletic apparel and footwear industry, characterized by its dynamic and competitive nature, has witnessed remarkable growth and innovation in recent years. As consumers increasingly prioritize health and fitness, the demand for performance-driven athletic wear and cutting-edge footwear has surged. Amidst this thriving sector, Soon Lock Chong stands out as a notable figure shaping the financial landscape of Adidas, a key player in the athletic apparel and footwear industry. With a robust background spanning over a decade, Soon Lock has not only excelled in finance leadership roles but has also demonstrated a commitment to positive change and collaborative team efforts. His diverse experience, ranging from auditing with prestigious firms to contributing significantly to procurement and commercial roles, reflects his adaptability and determination.

As the Finance Director at Adidas Malaysia, Soon Lock continues to drive financial excellence and innovation in this dynamic sector, showcasing his expertise in driving growth and profitability and also trade net working capital management. His professional journey highlights a strategic blend of skills, including analytical modeling, and a profund knowledge of the sporting goods industry, making him a valuable asset in navigating the intricate financial landscape of the athletic industry. Let’s hear more from him.

Could you please share a brief overview of your professional journey and the motivation that drives your daily routines?

My career commenced in 2003 as an auditor at KPMG, Malaysia, and later moved to PwC, Bahamas around 2006. After accumulating about five to six years of audit experience, I transitioned to a commercial role in 2009 as a financial controller for a small property development company in the United Kingdom. Following a year in this commercial finance role, I joined Nestle UK, one of the world's largest food producers, where I spent nearly a decade working in various capacities. Starting as a financial analyst, I progressed to become an assistant financial controller in the Commodities Purchasing Centre of Competence. In 2014, I returned to Malaysia with Nestle and served as a procurement controller until 2020, progressing to the role of commercial control manager.

In 2021, just before the pandemic hit, I made the challenging decision to leave Nestle and joined L'Oreal as the PPD Division controller in the Professional Products Division, managing Kerastase and L'Oreal professional hair color products. The 10 months experience with L'Oreal significantly contributed to my professional and personal growth, especially navigating remote work during the pandemic. Subsequently, I joined Adidas Malaysia in 2021 as the Finance Director. This transition aligns with my admiration for Adidas as a brand and my passion for sports, particularly football. My daily motivation is encapsulated in the Adidas quote, ‘Through sports, we have the power to change lives’. Additionally, I embrace the philosophy of striving to be a better version of oneself each day, reflecting on my daily routines.

Over your 21 years of experience, could you share your journey towards success and the key principles that have guided you in your professional path?

I've experienced success in all my endeavors thus far, but that doesn't imply an absence of challenges or mistakes. However, I've retained the skills and life lessons to navigate distractions and achieve my objectives. I always start with a clear goal in mind, aspiring to be a significant business partner within a company. This is why, when the opportunity for the Finance Director role at Adidas arose, I applied for it, even with my relatively brief experience at L'Oreal. My success mantra revolves around perseverance, emphasizing the belief that great accomplishments require time.

Could you also elaborate on the sustainable practices implemented in your current company? Additionally, could you shed light on the company's vision for a sustainable future?

I'll focus on three key areas, aligning with our sustainability strategy for 2025. Firstly, we aim to decarbonize both our own sites and the entire supply chain, aiming for a 15 percent reduction in the average CO2 footprint per product by 2025, compared to the 2017 baseline. Secondly, we are committed to cultivating a sustainable product portfolio, with the goal of making 9 out of 10 articles sustainable by 2025. This involves directing our research and development efforts towards material innovation and the creation of low-impact products. Lastly, our approach involves driving consumers awareness through campaigns such as 'Move for the Planet'. T his further increase consumer perception of Adidas as a sustainability leader.

Tell us about some insights and the guidelines you follow as a leader within the organization.

I would describe my leadership style as determined, committed, and results-oriented. As mentioned earlier, I consistently start with the end goal in mind. The guidelines I adhere to as a leader, include maintaining optimism and never giving up.

Could you outline the advancements and strategies the company is currently working on, as well as the financial roadmap you have envisioned for Adidas?

Within the next four years, I aim to double the current revenue growth while ensuring profitability. Simultaneously, I plan to maintain a healthy operating working capital ratio to support this revenue growth.

Looking ahead, what advice would you offer to upcoming financial leaders in the industry?

I would advise them to embrace change. The finance landscape has evolved significantly, especially since the onset of the pandemic. The expectations for a finance leader have transformed, particularly with the integration of AI like ChatGPT. The only constant in life is change. Making sense of these changes involves immersing oneself in them, moving forward, and connecting the dots.

Soon Lock Chong, Finance Director, Adidas

Soon Lock Chong is a seasoned finance leader, who boasts over a decade of experience spanning the Big 4 audit firms and diverse roles in Malaysia, the UK, and the Bahamas. As Finance Director at Adidas Malaysia, he pioneers financial excellence and change, showcasing adaptability, determination, and expertise in global markets.