The role of the CFO has grown over the past few years to encompass many responsibilities beyond finance. While in F&B, the CFO role has traditionally been more focused on overseeing the short-term financial performance of their organization, the COVID-19 pandemic has accelerated the transformation of some of the leading F&B CFO into Value Officer increasingly identifying and monitoring ways to create long-term values through business partnering, digital transformation and the setting of sustainability targets via the monitoring of non-financial KPIs. Ludivine Barre, CFO at Pirata Group, engages in an interactive session with the Women Entrepreneur Magazine to describe her career journey and role and how she navigates the day-today challenges of managing the finances of a multi-concept restaurant group while building sustainable growth and long term value.
What are the features of your expertise you want to highlight through this article? What are your responsibilities as the CFO of Pirata Group?
I think throughout this article I would like to highlight that the role of a CFO goes well beyond reporting and compliance and is that of a business partner and change enabler. The CFO is key in ensuring the Company has the right data to make decisions, that processes and systems are supporting the business so that the focus can remain on the customer, and that there are controls in place to enable growth and expansion without compromising the business fundamentals.
At Pirata, my role is to enable the company to keep on expanding profitably - from 14 restaurants when I first joined to 28 currently and we expect 100 in 3 to 5 years from now. This simple objective implies setting up the process, systems and competencies for scale, ensuring growth and improvement in the like-for-like business while financing a fast pace expansion.
Share with us about your educational background and professional journey.
My native country is France, where I attended Lycee Henri IV in Paris and the University of Paris La Sorbonne where I studied humanities and law and Essec Business School where I studied finance and business.
I began my career in mergers and acquisitions jobs as an analyst and project manager, working both on the banking side and in-house in international companies like Carrefour and LVMH. I also began early on to gain expertise working on transactions abroad, including in Europe, Australia, India, Mainland China, Japan, and Korea.
“Do something you love have fun with what you do, make sure you wake up and go to work with enthusiasm and that you can find the interest and care in what you do”
What are the critical challenges you face in your current role? What are the most significant milestones you have achieved throughout your professional journey?
I am still relatively new to F&B and the industry is still navigating a number of challenges and transformation in the aftermath of COVID. A key challenge has also been capital allocation in an environment where uncertainty has been the constant for the past few years.
I have also been a member of the C-suite for a few years only and I am still learning how to navigate reporting and serving directly a board and shareholders. The most significant milestone in my career was the time I switched my career from banking to commercial finance. Although this happened relatively early on, it has definitely defined my trajectory. At the time, I felt the odd one out as most of my colleagues were coming from an accounting background and were qualified accountants, while I had to catch-up on those skills and qualifications. However I came to recognize that my background and different outlook helped me thrive in different areas, and especially in finance transformation projects, business development and expansion.
How do you foresee the evolution of the F&B industry in the near future?
Technologies and data will play an increasingly important role in F&B - the use of predictive technologies, deep data, artificial intelligence, and virtual reality will further revolutionize how we connect with customers and run restaurants. A second key trend is sustainability and control over the supply chain driven by our customers who will hold us increasingly accountable for the source of our products
As a business leader, what advice would you like to give to young girls and women who are aspiring to become future entrepreneurs?
First and foremost, especially at the beginning of your career, make sure you can find a mentor among your manager or teammates - finding a fantastic mentor early on will help you develop and open doors. Hanging around with individuals that are slightly similar to how you want to be is the quickest approach to developing your personality.
Make sure you wake up and go to work with enthusiasm and that you can find interest and care in what you do. Be curious and put yourself out there when a project that sparks your interest comes along.
Ludivine Barre, CFO, Pirata Group
Having years of experience in various verticals of finance, Ludivine Barre as the CFO Pirata Group is successfully handling and executing numerous financial projects.
