Good morning. Today marks three years since I joined Fortune to launch the CFO Daily newsletter.
I’ve had the opportunity to talk with hundreds of finance chiefs across myriad industries, and one of my favorite interviews was with Tricia McLean, CFO of the WNBA’s Seattle Storm, back in 2022. During our interview, she had a kind demeanor, a good sense of humor, and generously shared her finance expertise. Sadly, McLean, a wife and mother of three, suffered a medical emergency on March 18 and passed away at the age of 61.
“We are shocked by her unexpected passing, and profoundly aware of how important Tricia was to our Storm organization and the city’s sports community,” Ginny Gilder, co-owner of the Storm, said in the announcement.
McLean, who became CFO in 2014, was the franchise’s longest-tenured employee, recently completing her 16th season with the four-time WNBA champions. She joined as VP of finance and HR shortly after the Force 10 Hoops ownership group purchased the team to keep it in Seattle, according to the announcement.
The franchise was valued at $151 million—the highest of any WNBA team—last year after it sold minority stakes to 15 investors, the Wall Street Journal reported.
I spoke with McLean on Aug. 31, 2022, a few hours before Seattle and Las Vegas took to the court for Game 2 of the WNBA semifinals. She was on the road with the team and chatted with me on a video call from her hotel room.
Along with handling the reconciliation of game day statements, and reporting to the league how much revenue was coming in, McLean was busy rooting for the team as one of the Storm’s biggest fans. She showed me the necklace she wore displaying the team’s championship rings. “I wear these for good luck during the playoffs,” she added.
We had a lengthy conversation, and looking back through my notes, I wanted to share three important lessons on leadership she shared with me that day.
The importance of collaboration in the C-suite:
“It takes all of us, and all of our viewpoints, to come to the right decision. I will always come at it from an ROI point of view, but that is not always the point of view that matters the most. We meet every week, and we talk about what’s on our plates and make decisions as a team.”
Check your ego at the door:
“We all deserve to be heard. We don’t have big egos at the Storm. We care about each other.”
Creating an environment where employees know that their well-being is a priority:
“We care about humans more than we care about anything else. If somebody has an issue going on at home, that is way more important than what’s going on in the business at any given time. Go take care of what you need to take care of—we’ll cover your back here.”
In Gilder’s statement on McLean’s passing, she noted: “Tricia modeled an admirable approach to life: Live it all with gusto. Love your work, love your work partners, and keep it all in perspective so you can maintain your focus on loving your family, friends, and doing the things you love.”
That certainly shined through during my conversation with her.
Sheryl Estrada
sheryl.estrada@fortune.com
María Soledad Davila Calero curated the Leaderboard and Overheard sections of today’s newsletter.
Leaderboard
Ravi Thanawala, CFO at Papa Johns (Nasdaq: PIZZA), will serve as interim CEO for the pizza chain. Current president and CEO Rob Lynch is leaving the company to become chief executive at Shake Shack. Lynch will provide continued support in an advisory role until April 30. The board of Papa Johns is conducting a search process to identify a successor for the CEO role.
John DeSimone returned to his role as CFO of Herbalife (NYSE: HLF) on March 20. DeSimone has held several roles in the nutritional supplement-focused multi-level marketing company. He served as CFO until 2018 and then transitioned to president. Most recently, DeSimone worked as special advisor to Herbalife’s CEO.
Big deal
Randstad Enterprise, a talent solutions firm, has released its 2024 Talent Trends Report, with insights into how organizations can navigate the accelerating pace of change in the workplace. The findings are based on a survey of 1,076 C-suite and human capital leaders at global and regional organizations across 21 markets worldwide.
One of the key findings pertains to AI. For many of the respondents, the benefits of the technology outweigh the risks. Overall, 78% say AI can effectively identify opportunities for internal mobility. In comparison, 78% also believe AI is capable of finding needs and gaps within their workforce, which can be an advantage when transforming into a skills-based organization, according to the report. The areas where respondents have seen improvement through AI and automation investments include efficiencies and conciseness in their processes (33%) and workflow (31%).
About 97% of C-suite and talent leaders agree that adopting technology has improved talent attraction, engagement, and retention. This is an eight-point increase since last year and the highest reported value for this response in Talent Trends’ nine-year history, according to the report.
Going deeper
“Views on Board Governance — Where Directors and C-Suite Leaders Align and Diverge” is an inaugural study developed by Protiviti, BoardProspects, and Broadridge. It offers insights regarding the board’s priorities, performance, and governance practices from the different perspectives of more than 1,000 C-suite leaders and directors.
C-suite executives and board directors are not fully aligned in all areas. For example, 92% of board members give themselves a “4” or “5” out of 5 regarding putting the interests of the company ahead of their own. But only 73% of C-suite executives rate their board members with a similar score, highlighting the divide between these two senior leadership groups. You can read the complete report here.
Overheard
“The problem is that while a majority of employers have embraced a change in the ‘where’ of work, many have not adopted new practices and processes to support it.”
—As explained in the TechSmith 2024 Workplace Flexibility report. In line with the report, experts told Fortune about the need for managers to be more mindful and intentional in their goals and metrics when managing a team that is not in the same location.
Looking back on 3 key leadership lessons from Seattle Storm CFO Tricia McLean
