CFO Intelligence Magazine – Winter 2023
Bill Baldwin
Kepner-Tregoe CEO
Kepner-Tregoe CEO Bill Baldwin’s passion for focus and drive have enabled him to progressively take on new challenges and advance the companies he worked for, as well as his own career. He began as a CPA with Arthur Young (later Ernst & Young and now EY) in 1981 and has since worked with different clients, ranging from publicly traded Fortune 500 companies to small and medium size enterprises across multiple industries. “During my time at EY, I realized that I enjoyed working with mid-sized, privately owned companies where I could combine my knowledge of financial management with operational involvement.” This passion came to fruition when, in 1992, Baldwin joined Prince Sports Group as Worldwide Controller where his role went beyond traditional finance to include significant operational responsibilities.
A DEEP DIG
“This position allowed me to become deeply involved in warehousing and distribution, international operations, supplier development, procurement, product management, marketing, sales, and general management,” Baldwin recalls. “I’m a hands-on person and working for Prince provided a great learning environment which helped me gain significant experience across many aspects of operating and leading a business. I also learned the importance of surrounding myself with talented people who have their own specialties.”
But Prince’s then-owner, fashion retailer Benetton Group, “tried to combine the fashion industry operating model with a very different model designed for sports products — and it did not go well,” he recounts. “There is no such thing as a revolving Spring and Fall collection with tennis rackets. Instead, you focus on incremental product improvements, while building up long-term grassroot relationships with influencers such as tennis pros who can connect with amateurs and enthusiasts who are willing to invest more than $150 on a well-made racket.”
In 1996, he left Prince — which incidentally later declared Chapter 11 and was bought out by Authentic Brands Group — and moved on to the global consulting firm Kepner-Tregoe (KT), as Worldwide Controller. Despite this being a lateral move for Baldwin, it also served as a springboard where he was able to acquire new knowledge and skills. In this position he took on numerous additional responsibilities that ultimately positioned him for a promotion to become the firm’s CFO. “Given my experience at Prince, where I had already been involved in managing budgets, developing operational and business strategies, and working with a variety of functions,” Baldwin relates, “this move foreshadowed my later promotion to CFO (in 2002) at KT. In this role I again worked across all functions of the organization, in addition to interacting with clients, banks, suppliers, board members, and other key stake holders.” As CFO at KT — which generates more than $20 million a year of revenue, has virtually no debt, and a rarely tapped line of credit — Baldwin was tasked with leading the firm in evolving to an employee-based ownership model.