In recent years, the United Arab Emirates (UAE) has witnessed a remarkable rise in the number of women taking on leadership roles in various sectors, including finance. These women have not only demonstrated exceptional financial acumen but also served as inspiring role models for aspiring professionals across the UAE's business landscape. The UAE's business ecosystem thrives on diversity and inclusivity, and these women CFOs exemplify the transformative power of gender equality in the workplace. Through their accomplishments, they have shattered stereotypes, challenged conventional norms, and created opportunities for future generations of aspiring women finance professionals.
One such noteworthy leader is Maria Semkina, Chief Financial Officer (CFO) of Lenovo. Born and raised in Russia, Maria embarked on a remarkable educational journey that laid the foundation for her successful career. She attended the prestigious Moscow State University of International Affairs, where she earned a Master of Arts degree in Economics.
Her career began while she was still in university when she founded a business club and invited CEOs and CFOs to share career insights with students. This initiative led her to secure a summer internship at British American Tobacco. Following that, Maria joined the company's management trainee program, providing her with a comprehensive understanding of the essence and diversity of finance function.
She then transitioned to one of the leading science-based agtech company, Syngenta, as a finance manager for CIS region. Her responsibilities expanded rapidly, and she soon became the CFO for the company's Russian operations. Maria excelled in this role, leading a large team and overseeing end-to-end finance function.
After successfully navigating a company restructuring, Maria chose to explore new opportunities. Amid the challenges posed by the COVID-19 pandemic, she engaged in strategic projects, contemplating her next career move. Ultimately, Maria was drawn to Lenovo, recognizing its cultural alignment with her values and aspirations. In September 2021, Maria assumed the role of CFO at Lenovo East Europe. Challenging times always bring opportunities and soon Maria was promoted to the CFO role based in Dubai covering MEA, Turkey and East Europe region.
“Embracing your uniqueness & thinking differently is what sets you apart & contributes to your success”
Tell us about the key business lessons you have learnt through your prior work experience.
One key lesson is that finance extends beyond accounting and FP&A. To make informed decisions with business leaders, I've embraced a comprehensive understanding of the organization and its processes. This drives me to gain insights into marketing, sales, and other areas crucial to the business. Collaborating closely with partners and stakeholders, I contribute to the company's success.
Equally important is my team. As a CFO, I consolidate and motivate talented individuals, nurturing their growth as finance professionals with business acumen. Their support and dedication are vital to my success
Embracing mistakes as growth opportunities is a fundamental aspect of my leadership approach. Taking calculated risks and learning from experiences has made me more resilient.
Active listening is another essential skill. By understanding different perspectives, I incorporate diverse viewpoints into decision-making processes. Lastly, continuous learning is a priority. I immerse myself in reading, staying updated with industry trends, and seeking knowledge from various sources.
These business lessons have shaped me into a CFO who embraces a holistic view, values teamwork, learns from mistakes, listens actively, and pursues continuous self-improvement.
What are some of the most critical challenges you encounter in your professional journey
As a woman leader, I have encountered various challenges in my role as a CFO. In the agricultural industry, it was difficult to break the norm of women being confined to traditional roles. However, at Lenovo, I am fortunate to work in a company that values and supports women. The challenges I face now are more related to macroeconomic and geopolitical turbulence, market decline, rising working capital costs, and intense competition.
The business landscape is constantly evolving, requiring us to adapt and seize opportunities. Personally, I face the challenge of doing more with less, managing increased responsibilities with limited resources. Balancing my professional role with being a mother, socializing and enjoying the benefits of the outside world adds another layer of complexity, but I strive to excel in both areas.
What has been your success mantra as a business leader?
My success mantra revolves around drive and continuous learning. The drive to go beyond the ordinary and step out of my comfort zone has been instrumental in my growth as a leader. I believe in never stopping and constantly seeking opportunities for improvement. Additionally, I strongly embrace the concept that the more you learn, the more you realize how much you still have to learn. This humbling realization keeps me motivated to acquire new knowledge and skills. I like to compare it to a geometric analogy: the smaller circle represents what you know, while the larger circle symbolizes the vast realm of knowledge you are yet to explore. Expanding the circle means uncovering more touchpoints of the unknown, which fuels my thirst for knowledge.
How do you foresee the finance landscape evolving in IT sector of UAE?
I believe that the industry trends with the most impact from a growth perspective will revolve around services and solutions infrastructure, particularly end-to-end IT solutions. Previously, the focus was primarily on hardware alone. However, now there is a growing demand from end customers for comprehensive solutions that encompass software, services, and hardware. This shift presents significant opportunities for transformation and expansion, and it's something that I see unfolding in the industry, including within Lenovo.
Maria Semkina, CFO, Lenovo
Combined with a deep understanding of diverse industries, she continues to make a lasting impact and shape the future of business.
Current Issue
