https://www.sas.com/en_us/news/press-releases/2025/july/matt-parson-sas-chief-financial-officer.html
13 replies (most recent on top)
best fiction (or is it non-fiction? based on actual events?) comment on this forum in a long time
He is not inexperienced. But his one previous IPO was a small fraction of the size of SAS.
SAS could have hired someone more experienced. But that would have cost more money.
"Why the surprise at hiring an inexperienced NC State Alumni?"
Perhaps a realization that Forestry and Philosophy don't cut it? BTW... Matt is not inexperienced.
“Who else would want to work for a dying 50 year old deadbeat company like SAS?”
About 3 billion people. Speaking of 3 billion….
Why the surprise at hiring an inexperienced NC State Alumni?
Who else would want to work for a dying 50 year old deadbeat company like SAS?
@dr Unlike the two aforementioned hombres, the new CFO has education and experience appropriate to his position.
Software? Anyone can code. But to handle money, SAS wants someone qualified .
I’ll never understand why a CFO must be qualified, while a CTO need not. But he certainly deserves a chance.
"Of course he's a local, NC State graduate. It seems like a prerequisite to be part of the good ole boys club."
You must not remember the Big German or the fluffy photographer. Neither were a NC State graduate nor what most would call good ole boys. Both created and left a huge mess.
How about giving Matt a chance? Surely he can't ph--k things up as bad as the two aforementioned hombres.
Of course he's a local, NC State graduate. It seems like a prerequisite to be part of the good ole boys club.
A hypothetical phone call:
"Hello, this is Matt speaking."
"Hi Matt, this is Jenn from SAS HR! The interview team was really impressed with your background and skills, and we want to offer you the position of CFO!"
"Excellent! Thank you so much!"
"Uh-huh! YOU'RE WELCOME!"
"Since this position involves moving SAS through an IPO, will my compensation package include equity?"
"Hahaha...NO. As you know, SAS is a privately held company. Our compensation packages do not include equity."
"But part of my role is to prepare SAS to go public... Will my compensation include equity after the public offering completes?"
"Hahaha...well...once the company is public, and there's been some time for the dust to settle, the future board will have to see where we are at. How about we set this issue aside and revisit it once those events complete. Okay?"
"Ummm...okay."
"So...are you excited to join us? We'd love to have you on board!"
"Uhhh...yeah. I'd still like to be part of the team."
5 years later...There has been no IPO. Matt bitterly refers to his role as "Head of Thwarted Plans", like Kendall Roy in "Succession". He eventually leaves SAS, degraded and broken, reflecting on the promises turned to dust; it was all a big tease, a big je-k-off without a happy ending.
@c4 I don't think he'll leave. A person who has led an IPO in the hundreds of millions will seize the opportunity to lead one in the billions.
I am surprised that SAS did not hire someone with more experience; but he'll do his best to rise to the occasion. Good luck to him!
VERY encouraging to see that the new COO has a business background with a successful track record. Philosophy and Forestry were an immensely sappy expensive flop.
Good luck to Matt!
SAS hired this guy because he's born and raised in the Triangle and went to nc state. He's in way over his head but doesn't know it yet. He will soon and then he will leave.
I thought they'd hire someone with more experience doing large IPOs. He has done only one previously, for $242M.
Oh well. Give him a chance to succeed, and hope he will.