AX Group CEO Michael Warrington Shares Leadership Insights at Deloitte CFO Event
At the recent CFO Event organised by Deloitte Malta, AX Group CEO Michael Warrington delivered valuable insights into the evolving role of financial leaders, sharing his transition from CFO to CEO and offering advice for navigating today’s fast-paced business environment. He also explored strategies for talent retention, operational efficiency, and the future of finance
From CFO to CEO: Leveraging Financial Expertise
Mr. Warrington emphasised the structured approach a financial background brings to leadership, contrasting it with an entrepreneurial mindset.
"An entrepreneur is typically visionary and driven but often lacks a deep understanding of structures and processes," he said. "A CFO-turned-CEO focuses on execution, ensuring projects are financially sound and operationally feasible."
He cited the success of AX Group's Hilltop Gardens project, where sound financial planning, timely execution, and an innovative operational model ensured a quick return on investment.
As CEO, Mr. Warrington introduced rigorous practices across the organisation, including:
- Zero tolerance for loss-making activities.
- Independent financial operations for each business unit.
- Monthly management reviews to address performance and opportunities.
2025 Priorities: Efficiency, Strategy, and Adaptability
Looking ahead, Mr. Warrington identified three key priorities for CFOs in 2025:
- Improving financial performance.
- Streamlining processes and operations.
- Strategic planning and execution.
He acknowledged the challenges posed by shrinking profit margins, rising interest rates, and resource constraints. To adapt, he stressed:
- Embracing AI for operational efficiencies, such as self-service tools and data analytics.
- Ensuring financial accountability among managers.
- Immersing leadership in day-to-day operations to drive change.
Retaining Talent in a Diverse Workforce
With AX Group employing 1,200 people across 66[KM1] nationalities, Mr. Warrington prioritised understanding the unique needs of its workforce.
"Our focus is to retain talent by creating a work environment where people want to stay. When employees are happy, they perform better" he explained.
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Key initiatives include:
- Regular employee surveys to gather feedback.
- A strong performance culture that fosters effective leadership and continuous improvement.
- Hosting town hall meetings and fostering open communication.
Metrics such as employee turnover, recruitment success, and succession planning measure the effectiveness of these strategies.
Preparing for Risks and ESG Compliance
Mr. Warrington outlined top priorities for boards and audit committees in 2024:
- Cybersecurity: Investing in robust technology, training employees, and enforcing sound IT practices.
- Regulatory compliance: Maintaining zero tolerance for breaches and strong internal audit systems.
- ESG reporting: Turning climate-related compliance into an opportunity for innovation.
Looking to 2030: The Future of the CFO
Discussing the CFO role’s evolution, Warrington highlighted AI’s transformative potential and the challenges of tightening access to finance and trade uncertainties.
His advice for aspiring CFOs?
- Go beyond the numbers—be a problem solver and value creator.
- Communicate effectively and drive organisational change.
Michael Warrington's insights underscore the CFO's critical role in shaping strategy, driving efficiency, and fostering a resilient and adaptable organisation in an ever-changing world.
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