Member Profile: Scott Farrell

What time do you usually wake up on weekends?

No set time – as and when the body and mind decide.

How do you spend the first hour of your day?

Review of my priority list and tasks for the day and who are the colleagues key in assisting me getting it done.

What sparked your interest in finance?

I wanted to understand wealth and how it was generated and managed.

Can you share some career highlights and defining moments?

• Became a CFO at 35.
• Shortlisted (Top Five) in the African Access National Business Awards for the Top Performing Businessmen of the Year Award – Age 35.
• In 2016, I closed a complex deal for two businesses out of Business Rescue.
• In 2019, I was part of a team that saw the development of our first greenfield manufacturing plant, combining multiple pharma products under one roof.
• Navigated the various businesses through the COVID-19 pandemic.
• In 2023, appointed Professor of Finance and Accounting at Monarch Business School in Switzerland.
• In 2024, appointed to multiple Boards in Africa and the Middle East for B. Braun.

How do you handle professional challenges?

I call them the three Cs. Cool, Calm, and Collected. You cannot approach any decision or situation emotionally; it requires a calm and clear mind. Active and engaged listening is part of the process.

What future goals are you excited about?

I will complete my Doctorate in Business Administration in July 2025. This has been a journey of six years and has changed how I approach thinking, particularly critical thinking in highly complex situations.

Have you had any international or different cultural experiences in your career?

Yes. I lived and worked in Northern Ireland for four years, which opened my eyes to different cultures, how people can have differing perspectives. Furthermore, I currently serve on the Boards of various African countries and those in the Middle East. Your impact requires a flexible mindset willing to appreciate how thinking and communication can differ from your own, whilst still adding value to the conversation. Again, actively listening is key.

What key skills should a newly qualified accountant develop on their path to becoming a CFO?

I think far too often there is an emphasis on technical skills, however after some 24 years in senior management I am convinced it is about working on yourself first. The fact of the matter is as a CFO you should have a clear picture of your future self — how would you think about topics, how would you speak and articulate yourself, how would you conduct yourself, how would you dress, what do you stand for and what you do not. If you are going to manage teams of people, then the best place to start is managing yourself.

How do you balance your personal and professional life?

There is no such thing in corporate; it is simply a myth. As John C. Maxwell once quoted: “The greater the leadership role, the greater the sacrifice.” It comes down to what you are prepared to sacrifice, which generally equates to the expenditure of time.

What are your interests outside of work?

Spending time with my family and golf.

How do you contribute to the development of others in your field?

I am passionate about teaching and recently have designed courses within the company to understand better some of the more complex finance topics that owners of a P&L will encounter.

What advice would you give to someone aspiring to be a CFO?

When I was promoted to CFO, I realized it was not how well you managed your teams but how well you managed yourself. I am a big fan of books like:

• The Seven Habits of Highly Effective People
• The Monk Who Sold His Ferrari
• Clear Thinking
• Atomic Habits
• Hidden Genius
• How to Calm Your Mind

What’s your favourite quote or mantra?

“Formal education will get you a job, self-education will make you rich.” – Jim Rohn

Share your favourite leadership lesson.

If you aim for perfection, you will at least achieve excellence along the way.

What’s something surprising about you that isn’t in your business bio?

I have started to collate children’s stories my father used to tell us as kids. One day I hope to publish these in short stories for children.

What’s your favorite non-business app on your phone?

Clubmaster – it is where you can book your next round of golf!

If you could have any superpower to help you in your job, what would it be?

The ability to gift everyone with my sense of humor! You will need it in difficult situations.

What’s your go-to strategy for staying productive during long workdays?

Drinking lots of water and frequent short walks.

If you could relive one day from your professional career, which day would it be and why?

The day I was promoted to CFO. It was just surreal, and I had only planned on achieving this goal at age 45, not 35.