Rohlik CFO Vineta Bajaj talks balance sheet home truths as she takes on new online grocery challenge
European e-commerce grocery delivery service, Rohlik Group, recently appointed Vineta Bajaj as Chief Financial Officer.
And she has now taken to LinkedIn to discuss her first steps in the role.
In a post on the social media site, she said: “What's the FIRST thing I did last week as a newly appointed CFO? Asked for the detailed balance sheet. BORING! But hard truths, you guys. Why, you ask?”
She added: “The balance sheet is now YOUR entire responsibility. You have to own and be comfortable with all the numbers on it and to top it off.. You gotta autograph the damn thing and there's no screaming fans or groupies around! Lame.”
“Being comfortable with the assets and liabilities on the balance sheet is THE most important first thing to do. No matter how much you want to get into the sexy business stuff, you have to remember that you're inheriting a balance sheet (audited or otherwise).”
Bajaj most recently served as Finance Director at Ocado Group.
She trained as a chartered accountant and tax advisor at KPMG Ireland, where she delivered audits for large corporate clients before moving to Kerry Group, an Irish multinational.
In her LinkedIn post, she said: “When I was a financial accountant and took over a set of accounts, the first thing I'd do is review the balance sheets and make sure I was comfortable within the first month end. If you're not, clean them out and start new because they're your responsibility.”
“My personal reflections on this week AND last few years? Everyone has a different view on what the definition of a balance sheet reconciliation is! But that's cool - because I mean, there's only one - so we'll all start to all get on the same page soon.”
Looking to the future
As part of the Rohlik Group executive team, Bajaj will work closely with operational segments and commercial teams, and report directly to CEO and Founder Tomáš Čupr.
“Vineta has hugely relevant experience in the e-commerce industry as a whole and significantly relevant experience in our sector. She understands our industry inside and out. I have no doubt she will thrive in our fast-paced, energetic environment with the opportunity to shape a positive, collaborative culture,” Čupr comments.
“As we look to the future of Rohlik Group and what is needed to take our business to the next level, Vineta was the obvious choice for CFO. I believe she will be a great cultural fit, her skills and mindset mirror those of the company, and she will help us become the definitive European online grocery company.”
Bajaj adds: “I’m a big advocate of online grocery and the unit economics that it can deliver. Having worked closely with many global retailers, I am impressed with how Rohlik has grown and performed, both geographically and financially.”
“I also love their focus on customer experience and on local suppliers. I am excited to join Rohlik and be a part of this ambitious European online grocer.”
The Rohlik Group management team is now, in addition to Čupr and Bajaj, comprised of Olin Novák as International CEO, Mathias Ottitsch as Chief Operating Officer, Ondřej Klamt as Chief Technology Officer, and Marek Hübner as Chief Commercial Officer.
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