Ogilvy, the 76-year-old U.K.-based advertising agency, has a lot of history behind it. Its founder, David Ogilvy, also known as the father of advertising, left his legacy not only in the industry he helped develop, but also in how his company operates today.
The company’s current leadership team, including Global CFO Stacey Ryan-Cornelius, continues to value creativity, collaboration, transparency, truthfulness and hard work — ideas that have remained within the fabric of the organization since their founder instilled them.
Now, it’s up to Ryan-Cornelius and her fellow leaders to continue to navigate through new technology, labor demands and changes to their business, all while keeping the principles alive that have given the company more than three-quarters of a century's worth of success.
Stacey Ryan-Cornelius
Global CFO, Ogilvy
First CFO Position: 2018
Notable previous positions:
- CFO, Geometry Global
- CFO, WPP Health & Wellness
- Worldwide controller, Ogilvy & Mather
- Audit manager, PwC
This interview has been edited for brevity and clarity.
ADAM ZAKI: How much of David Ogilvy’s philosophies and ideas on approaching the business still exist in the decision-making process today?
STACEY RYAN-CORNELIUS: The importance of creativity, something David talked a lot about, is still a huge part of what we do, no matter what department you’re in at this company. That has always stood out during my time here. The ability and freedom to be creative makes up the main ethos of our business. It’s in the DNA of what we do.
Personally, the freedom to be creative impacts the way I make decisions in the company. When we get into groups, or what we call “hot houses,” there’s a methodology to it that is built upon creativity. Around the company, we have a hot house where teams will lock themselves in a room for a couple of days and come up with a bunch of ideas on how to overcome a challenge or solve a problem.
“One of the most important things CFOs can do for their people today is to make sure they understand that their opinions on organizational change have been heard and considered.”
Stacey Ryan-Cornelius
Global CFO of Ogilvy
On the finance side of things, we do the same thing. When I am trying to figure out something that I’m having some difficulty with, I take a couple of key people who are smarter or have a different skill set than me, and we find time to get into a room and figure it out together. I don’t think I’d have the same type of passion that I’d do if I was working in something like financial services. I like working in a creative space, and creativity prevails in everything we do.
Ogilvy has a tremendous amount of history. So much of the business, whether it’s cultural or operational, must be entrenched. Throughout your time with Ogilvy, when you’ve wanted to make changes, how have you done so with this legacy in mind?
RYAN-CORNELIUS: Communication and transparency of the entire process. Our people, like everyone else, are human. Let’s face it, we’ve all gone through a lot since COVID, the day-to-day workforce is different, so we have had to go through a lot of changes pretty recently as an organization.
We have a very young workforce in certain parts of our core business, and they are demanding to work in a space where they find value in what they're participating in. So we have to work that into the culture, where everyone feels included, they can speak up and feel safe doing so, all while staying productive and doing what’s important for the business. We need to take people on a journey.
I think when you talk about what your vision is, not everyone understands right away. But when you start to galvanize champions and use them to sort of personify the organization’s mission and demonstrate what success looks like, it makes people feel like they have a voice and an opportunity to grow.
“Lots of people also stress the importance of the first 90 days on the job. But the reality is, especially when you’re stepping into a CFO position, is that you’re drinking from a firehose.”
Stacey Ryan-Cornelius
Global CFO of Ogilvy
When it comes to decision-making, whether or not everyone agrees with the final decision, I think one of the most important things CFOs can do for their people today is to make sure they understand that their opinions on organizational change have been heard and considered. Then, if they don’t agree with the outcome, they can use that moment to learn about why the decision made was best for the business.
In what areas of the business are you evaluating new technology, and how do you think AI tools will impact the core advertising business and the associated financial operations?
RYAN-CORNELIUS: We’re always trying to get through our controls faster and having better checkpoints for our controls and systems so AI comes up during those conversations. We also look at it from the perspective that we may not need as many bodies on the ground working within the finance function in the future. But, right now, our conversations are mostly around improving efficiency with new technology when it comes to the finance side of things.
On the core side of our business, we’re having a lot of conversations on the creative process side of the business, and in what ways can we leverage this technology to help create better products and campaigns and to help better serve our clients.
But coming back to finance, I can always find something that can help me do things, like forecasting for example. But, I believe I always need a set of human eyes on it, someone who can call “bull crap” on things. Will AI help speed up processes, improve accuracy, and provide value from the finance perspective? Yes. But, by no means is it keeping me up at night.
How much would you credit your time at Baruch College to the development of your work ethic, and how has this played into the way you’ve built your career?
RYAN-CORNELIUS: A lot. I learned to work very, very, hard early on in my career. I built my networks and learned “the game” of accounting so to speak, through working hard and putting in the time. At Baruch, I started out learning about accounting outside of my studies with the National Association of Black Accountants, which was huge for me because I could go back and forth with people similar to me and build the origins of my craft in an environment where at the time, I could feel comfortable.
Throughout my career, I can say that no two years have ever been the same, and this is what keeps me around in the places I’ve been. I need to have a challenge that keeps me going and engaged. I try to approach my career ambitiously, I always have a two or three-year plan no matter who I’m with or what role I'm in.
“Will AI help speed up processes, improve accuracy, and provide value from the finance perspective? Yes. But, by no means is it keeping me up at night."
Stacey Ryan-Cornelius
Global CFO of Ogilvy
When I was at [PwC], I still was sorting myself out and took time to consider whether I wanted to be on a partner track or not. Even at [PwC], I was always working in different areas of things I was interested in, which kept me going. And it’s the same thing with WPP and Ogilvy today.
Throughout your career, when you see someone and say “Wow, this person’s got it,” what is the “it” to you?
RYAN-CORNELIUS: How people prioritize their time has always stood out to me and, when done well, has been an indicator to me of high potential. Whenever someone takes on a new role, their instinct is to try and make an impact quickly. Career growth and taking on new challenges can be stressful.
Lots of people also stress the importance of the first 90 days on the job. But the reality is, especially when you’re stepping into a CFO position, is that you’re drinking from a fire hose. Everything is coming at you, you’re experiencing new things combined with self-doubt, all while trying to make sure that all the stakeholders around you perceive that you’re providing value.
"How people prioritize their time has always stood out to me and, when done well, has been an indicator to me of high potential."
Stacey Ryan-Cornelius
Global CFO of Ogilvy
I think someone who can “clear the mechanism,” a line from one of my favorite sports movies, "For the Love of the Game,” is a perfect example of this. Someone who can calm down in the heat of the moment, like Kevin Costner does in the scene when being heckled at Yankee Stadium, is something that I’ve seen successful people have. I believe this ability to stay calm during stressful moments provides not only an opportunity for clarity when figuring out how to prioritize time but is a major indicator to me that someone has the potential to be very successful in their career.