In Sunday’s (5/24) Crain’s Detroit Business, Sherri Welch profiles Linda Lutz, CFO of the Detroit Symphony Orchestra and one of thirteen finalists for Crain’s 2015 CFO of the Year Awards recognizing those who have “helped companies navigate tough times.” Within six months of Lutz’s arrival in 2013, “The DSO went through a significant restructuring that added oversight of human resources, facilities and security to her financial duties. Then, about nine months in, Lutz jumped in to assist on contract negotiations with Local 5 of the American Federation of Musicians. The two sides forged a three-year agreement in January 2014, nearly eight months before the prior agreement expired…. In March 2014, Lutz oversaw the restructuring of $14.5 million in debt on Orchestra Place…. Under Lutz’s oversight, the DSO is looking to its third year of an operating surplus, something it hadn’t done since 2007.… Lutz also helped research and institute an incentive compensation plan that not only rewards upper and middle management for hitting organizational goals but also gives all employees a chance to participate in incentive compensation.” Crain’s 2015 CFO of the Year Award recipients will be recognized at a ceremony in July.
Posted May 26, 2015