Good morning. Agentic AI is predicted to revolutionize the role of finance, with CFOs at the forefront of this transformation.
I recently spoke with Marie Myers, EVP and CFO of Hewlett Packard Enterprise (HPE), to get her perspective on the topic. “I’ve been building bots for many years,” Myers told me. “So when agentic AI came along, I was very excited.”
A seasoned finance and technology executive, Myers had her first CFO role at a robotic process automation (RPA) company, UiPath. She describes agentic AI as “the biggest unlock for finance since RPA and ERPs [enterprise resource planning systems].”
Myers is also a former longtime executive of HP Inc., where she served in several leadership roles, including CFO and chief transformation officer. In January 2024, she joined HPE, a Fortune 500 company specializing in enterprise IT solutions. On July 2, HPE completed its $14 billion acquisition of Juniper Networks. In April, it was reported that activist investor Elliott Investment Management took a $1.5 billion stake in the company.
Integrating agentic AI and upskilling at HPE
Since joining HPE, Myers has prioritized integrating AI into both the finance organization and client offerings. HPE’s finance team is piloting Deloitte’s Zora AI for finance, an AI-powered agentic platform, which is available on Private Cloud AI as an on-premise solution. The initial focus is on operational reporting, launching this summer, with plans to add further enhancements to the solution covering predictive forecasting and expanded data sets.
The main metric HPE is tracking is productivity. Myers’ chief of staff, Gustav van der Westhuizen, has rolled out AI training for thousands of employees. Myers emphasizes that successful implementation requires strong change management, data quality, governance, and the right talent. “Data quality and governance are probably the biggest inhibitors to getting started,” she noted.
Regarding talent, ideally, the recent graduate you’d like to hire is someone with finance and accounting acumen, combined with AI knowledge and awareness, Myers said. “What does the new entry-level job in the company look like?” she said. “I think that’s a question we’re still asking.”
The personal impact of AI
After completing graduate school, Myers considered herself a “spreadsheet junkie.” Her job involved gathering data and analyzing it late into the night. “Is this what you’re supposed to do after all these years of being educated?” she recalled thinking. Fast forward to today, and Myers is using AI agents for nearly everything.
“Every aspect of my day has been impacted by AI—from my personal life to my professional life,” she said. An AI agent helps her during her commute to organize her agenda and think through issues. “When I’m driving to work, I talk to an AI agent about what is going to happen today.”
During a recent board meeting, Myers used AI to clarify unfamiliar terms instead of raising her hand to ask questions. In meetings, she also uses AI tools to take notes. Outside of work, she relies on AI for personal tasks, like finding gift ideas or helping her children. “In fact, my kids told me, ‘Could you stop using AI at home to answer questions for us?’” she quipped.
Overall, Myers says AI has made her life more efficient. “I use it for absolutely everything; it’s changed my life.”
Have a good weekend.
Sheryl Estrada
sheryl.estrada@fortune.com
Leaderboard
Fortune 500 Power Moves
Gregg Ziegler was promoted to CFO of Toll Brothers, Inc. (No. 390) and will succeed Marty Connor, who is retiring at the end of the company’s fiscal year on Oct. 31. Ziegler is a 23-year company veteran, currently serving as SVP, investor relations and treasurer. He began his career at Toll Brothers in 2002 as an assistant finance director within the finance and investor relations department and has held various roles of increasing responsibility since then.
Every Friday morning, the weekly Fortune 500 Power Moves column tracks Fortune 500 company C-suite shifts—see the most recent edition.
More notable moves this week:
Chad Spooner was appointed CFO of MiniMed, in advance of its intended separation into a standalone, public company, health care technology company, Medtronic plc (NYSE: MDT), announced on Tuesday. Effective July 14, Spooner will be responsible for overseeing the finance function for Medtronic Diabetes and supporting initiatives as it prepares to become fully independent. Most recently, Spooner served as CFO at BIC, a global consumer goods provider. He started his career at General Electric, where he spent a decade in management positions of increasing responsibility in corporate audit and financial planning, as well as in a senior finance role in GE Energy.
Ken Cook, CFO, was appointed interim CEO of The Wendy’s Company (Nasdaq: WEN). Kirk Tanner, president and CEO, is leaving to become the president and CEO at The Hershey Company (NYSE: HSY) and will depart on July 18. Wendy’s board of directors has launched a search for a permanent CEO. Cook, who remains CFO, played a key role in developing Wendy’s long-term growth strategy. Before joining the Company, he spent 20 years at United Parcel Service, Inc. in leadership roles.
Matt Parson was appointed EVP and CFO of SAS, a data and AI company. Parson succeeds long-time CFO David Davis, who is retiring after nearly 40 years at SAS. Parson spent 12 years at Red Hat. He has since served as CFO at CloudBees and Paymentus, guiding the latter through an IPO. And Parson most recently held dual roles as CFO and COO at ExtraHop.
Aparna Ramesh, EVP, CFO and treasurer of The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), has resigned to accept the CEO position with the Federal Home Loan Banks Office of Finance. Ramesh joined Farmer Mac as CFO in 2020 and will continue to serve in this role through July 31. The company plans to retain an executive search firm to conduct a nationwide search for its next CFO.
Alex Vari was promoted to EVP and CFO of MainStreet Bank. MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP) is the holding company for MainStreet Bank. Vari was most recently the chief accounting officer, and before that, VP of accounting and finance manager. Most recently, he also led the process for developing and implementing the Company’s Sarbanes-Oxley internal control framework.
Gregor van Issum was appointed CFO of Wolfspeed, Inc. (NYSE: WOLF), effective Sept. 1. Van Issum brings more than 20 years of experience. He’s held senior roles at semiconductor manufacturers ams-OSRAM AG and NXP Semiconductors N.V. Most recently, van Issum served as EVP, group controller at ams-OSRAM.
Big Deal
Ethics in the workplace are critical to a healthy work culture and employee retention. However, Resume Now’s “Ethics Fallout Report” finds that many workers are questioning whether their companies truly practice what they preach.
A survey of 1,000 U.S. employees reveals insights into why employees quit: Nearly half (47%) say they have considered leaving because their employer’s actions did not align with its stated values. Another 36% report staying silent about unethical behavior to protect their jobs.
The report also finds that many workers hide aspects of themselves just to “fit in” or keep their jobs. More than half (54%) of respondents feel pressure to “fit the mold” at work.
Going deeper
Here are four Fortune weekend reads:
“Michael Dell’s net worth has soared by $1.2 billion—but it’s still not enough to crack the world’s richest inner circle” by Emma Burleigh
“Apple’s AI efforts ‘have struck midnight,’ and the only way it can stop getting further behind is acquiring Perplexity, analyst Dan Ives says” by Marco Quiroz-Gutierrez
“Elon Musk’s Tesla finally sets a shareholder meeting date amid doubts about his long-denied $56 billion pay package” by Amanda Gerut
“It’s official: The company behind Nutella is buying the maker of Froot Loops” by Chris Morris
Overheard
“The goal isn’t to let AI assign grades or replace managers. It’s to enrich our understanding of work—who’s doing it, how it’s done, and how it can be better.”
—David Ferrucci, managing director of the nonprofit Institute for Advanced Enterprise AI at the Center for Global Enterprise, writes in a Fortune opinion piece, titled “When your AI assistant writes your performance review: A glimpse into the future of work.”
