648: A Life Sciences Angler Casts a Sturdy Line | Bill Adams, CFO, NervGen Pharma

It’s a familiar sequence: A strong-minded investor musters the will to lead and steps into the CEO office determined to revitalize a struggling technology company and put it back on the growth track.

For Bill Adams, this swift turn of events occurred only a year into his first industry stint as a corporate controller—a career chapter, he recalls fondly, that included a devoted CFO mentor.

However, the company’s CFO and CEO had exited the firm just prior the investor’s arrival, and Adams found himself stepping into a finance leadership role. Although stressful, the circumstances swung open the door for Adams to not only oversee the finance function but also have the opportunity to play a more strategic role in the business.

In short, he would now be in lockstep with the new CEO as they together championed the latter’s strategic vision that would upend the tech company’s growing focus on software revenue and double down on hardware sales.

Or so the CEO believed.

“The challenge that I faced was that I didn’t agree with him,” explains Adams, whose in-depth knowledge of the business made him quietly question the new CEO’s big bet on hardware.

“The company was full-steam-ahead focusing on software and system development, and the hardware part had already become secondary,” adds Adams, who says that his broadened responsibilities within the company allowed him to reach out to different stakeholders and bring back “suggestions” to the CEO.

“Being able to talk to customers was extremely enlightening in terms of how to steer the company in the direction that it needed to go,” comments Adams, who says that at the time the company counted Boeing and General Dynamics among its largest customers.

According to Adams, the company’s strategy would continue to evolve as it lessened its hardware orientation and came to enjoy newfound success.

Even today, as Adams reflects on the circumstances that first advanced him into a CFO role, his sense of apprehension and excitement lingers:

“I was not yet 30 years old when I was thrust into the CFO role at a public company, not really knowing where I was going or what I was doing.” –Jack Sweeney