Atlab CFO Agenda #5: Transformation

Written by

Teis Vester
T: (+45) 4059 7929
M: tve@atlab.dk

Our last CFO Agenda was a reminder that transformation is a challenge every CFO must face sooner or later. Whether it’s a new system, a new strategy, or a new structure – change has become a constant in the CFO’s world.

However, research shows that up to 75% of major transformations fail. Often not because the strategy was wrong, but because the execution stumbled – on time, on budget, or on anchoring the change in the organisation.

That was exactly the conversation we had at this CFO Agenda: what it takes to make transformation work in practice. Not just as a strategic exercise, but as a leadership challenge and an implementation project that demands the right people, focus, and dedication.

Our three speakers, shared their individual perspective on this topic, many of which, resonated with my own experience as a CFO and founder.

Here are some of my key take aways from the day.

1. Growth creates complexity – and complexity kills growth

Henrik Skov, Group CFO at Coop, offered a behind-the-scenes-look at one of Denmarks biggest and most complex ERP-transformations, a project that took more than 6 years to complete.

He said something that everyone who’s tried to scale a business recognizes: “Growth creates complexity – and complexity kills growth”

We all love to start new initiatives: a new market, a new product, a new variant. And the business case usually makes sense. But the real question is whether the value justifies the complexity it adds. When you add up all those projects, you can quickly end up with an organization that slows itself down.

At Atlab, this resonated deeply with my own experience. Sometimes the best decision is to say no – not because the idea is bad, but because running too many good ideas in parallel kills focus and momentum.

2. You Get What You Measure

Andreas Bay Rasmussen from Novonesis reminded us that transformation can’t be run on gut feeling.

He shared insights from one of the biggest mergers in Danish corporate history: the fusion of Novozymes and Chr. Hansen. A project that required them to create a full “synergy manual” defining every target, how to measure it, and how to track progress.

His main takeway: “You get what you measure.”

It’s a simple truth, but one that many projects forget. Clear measurement keeps the whole organisation aligned – and prevents the premature “mission accomplished” moment that can derail the last mile of a transformation.

3. Integrate first, transform later

Another strong takeaway from Andreas: don’t try to do everything at once.
The first priority in an integration is securing business continuity. Get the systems connected and the business stable before you start optimising and upgrading. Trying to transform while you integrate just adds risk – and complexity.

4. Transformation needs leadership presence

At last, Jesper Vilstrup brought a powerful reminder that none of this works without leadership presence.
Executive presence isn’t about being the loudest voice in the room – it’s about connecting with people, creating trust, and inspiring followership.

Transformation is, at its core, a leadership project. It’s about showing up in a way that makes others believe the journey is worth taking – and then getting them to walk alongside you.

5. If you don’t drive change – change will drive you

Walking away from this CFO Agenda, I was reminded that transformation is less about bold strategies and more about expertise and focus:

Expertise to keep complexity in check.
Expertise to define and measure success.
Expertise to secure continuity first – and transformation second.
And expertise to lead in a way that brings people with you.

This goes right to the heart of what we do at Atlab: we help CFOs and finance teams succeed with transformation by providing experienced people who know what it takes to drive change in practice – not just on paper.

We’re already looking forward to continuing the conversation at the next CFO Agenda on November 21 – where we’ll explore a new theme: The CFO as a Storyteller.

Reach out to cfoagenda@atlab.dk if you would like to join.