CEO Insights Magazine

Today, the role of the CFO, like everything else, has evolved. Yes, monitoring and ensuring a company's financial health are critical responsibilities of the job. But while solid financial decisions are essential, in today's world, it's not just about the numbers. A CFO at this age is required to wear multiple hats. Sunny Cheng is one such exemplary multifaceted financial executive with 20 years of experience playing several prominent roles at multinational corporations. He would not consider himself a numbers person as a CFO, but a business partner that works closely with everyone and adds real value to the entity. Sunny Cheng currently serves as the Group CFO at UCP Group, steering the firm toward greater heights. Significantly, he firmly believes that it is part of his responsibility to encourage and motivate the company as a whole to create and maximize values to benefit society and as a win-win situation with the company and to grow together as a whole. Sunny Cheng engages in an exclusive interaction with CEO Insights Asia and enlightens us more about his professional traits and his unique play at UCP Group.

Could you give a brief account of your professional background and experiences? What is the motivation that fuels your daily routines?

I would not consider myself a typical accounting or finance person. Since I despise numbers and was more of a computer science person, I didn't enjoy being a finance or accounting professional at the beginning of my career. I was fortunate, though, to be given the role of the Project Lead for Sarbanes Oxley Act 404 implementation and be in charge of process improvement in my first position with Mattel. At that point, I realized that my role as a finance professional involved more than just dealing with numbers; it also involved improving the business processes and allowing myself involve in different business areas from many other perspectives.

Following that, I worked for PricewaterhouseCoopers as a S enior C onsultant for one a nd a half years before returning to Mattel, wherein I was given the opportunity to work as a finance manager for various countries. I transitioned from North and Southeast Asia Finance Head to Regional Finance Head for Mattel, not only implementing the new system but also reengineering the business model, with the relocating to Shanghai for 3 years and Malaysia for 2 years. Thereafter, I relocated back to Hong Kong and start my new role at DHL, where I used my business acumen to implement some of the key projects. In addition, I began pursuing EMBA at CUHK, which was a critical point in adjusting myself and my mindset as a senior finance executive. One of the six pillars of the CUHK EMBA is 'Social Contributions', and I was inspired how to add value not only to the company but also to society. I currently work for UCP Group, and one of my primary objectives is to make a positive contribution to society while also maximizing the value of the company at the same time.

How would you define UCP Group as an organization?

UCP Group has a long history of 70 years, positioned as one of the market leaders for artificial flowers and home decor products. Having been founded in 1958 and spanning three generations with its own cultures and systems, we are transiting from a family business to a corporately managed company. Throughout the years, UCP has developed a proud legacy and tradition of bringing new materials and production methods to revolutionize the way artificial floral and seasonal home decorations are manufactured. Innovation is at the heart of everything we do and has been since the beginning. Now, we are including sustainability alongside innovation as part of our ethos and DNA.

At UCP, we hope and desire that all of our decisions and actions have a positive impact on our community and the environment. We invest in various sustainable materials, and even in our daily office life, we encourage to implementation of several sustainable policies. Our factory makes extensive use of solar panels to generate more user-friendly energy for our daily operations. We have established a culture of social contribution not only for marketing purposes but also in the hearts of all employees. We have  the heart to contribute to society and protect the environment in a sustainable manner.

What is the future destination you are heading towards?

It's crucial for me in my role as CFO to maximize the company's value in order to maximize the value for shareholders and stakeholders. In addition to that, I firmly believe that it is part of my responsibility to encourage and motivate the company as a whole to create a solution to benefit society through not only CSR (Corporate Social Responsibility) but also CSV (Creating share value). We are a corporation that seeks to increase its value, but I also want to maximize the value of society as a win-win situation with the company and to grow together as a whole.

Based on your experience so far, what would you like to convey to budding leaders who are striving to become future CFO?

I firmly believe that successful CFO should know to utilize their influence and power to transform their organization so that it not only increases value for shareholders but also transforms into a company that can benefit society. If we have the mindset to grow alongside society and transform every enterprise into a social enterprise, it will be very beautiful to work together to make the world a better place.

Sunny Cheng, Group CFO, UCP Group

Sunny Cheng is a senior professional with over 2 decades of solid experience in Finance Management roles at multinational companies. Sunny Cheng is not only a number person as a CFO, but a business partner that works closely with everyone and adds real value to the entity.