Tuesday, June 17, 2025
Date: 17-06-2025
Time: 2:00 PM – 3:00 PM
Venue: Seminar Hall, DYP DPU Dr D Y Patil B School
Resource Person: Mr. Govind Chomal
Chief Financial Officer, Chomal Exports
Participants: Students (Batch 2025-2027)
Faculty Coordinator: Mr. Budha Chandra and Mr. Bhalchandra Deshpande
Organizer: DYP DPU Dr DY Patil B School
Objectives:
To explore the evolving role of the CFO in modern business environments.
To understand how CFOs contribute to strategic decision-making, growth, and governance.
To analyze real-world financial governance failures and extract leadership lessons.
To highlight the need for developing a global mindset in financial leadership roles.
To inspire students to view finance as a strategic driver in global business success.
As part of the Diksharambh 2025 induction program, Dr. D. Y. Patil B-School was privileged to host Mr. Govind Chomal, Chief Financial Officer at Chomal Exports, for an engaging session titled "The Strategic CFO: Lessons in Growth, Governance & Global Mindset" on 17th June 2025, from 02:00 p.m. to 03:00 p.m.
Mr. Chomal brought his rich industry experience to the classroom and offered valuable insights into how the CFO role has transformed from a purely financial function to a strategic leadership position. The session combined theoretical depth, practical examples, and real-world business cases to present a holistic view of financial leadership.
Key Takeaways from the Session:
1. The Role of CFO – Then vs Now:
Mr. Chomal opened the session by explaining the evolution of the CFO’s role, which was earlier limited to financial reporting and compliance. Today’s CFO is a strategic partner in business planning, digital transformation, ESG, and risk management.
2. Structure and Responsibilities:
The modern CFO plays a multifaceted role involving financial stewardship, capital allocation, regulatory compliance, investor communication, and cross-functional coordination. The organizational structure must support the CFO’s access to decision-making forums and strategic planning initiatives.
3. CFO's Contribution to Business Growth:
Mr. Chomal explained how CFOs drive growth by making data-driven decisions, forecasting accurately, optimizing cash flows, and ensuring capital is directed towards high-impact initiatives. However, he also warned against punitive financial cultures that discourage innovation by punishing honest mistakes, leading to a thinking barrier among teams.
4. Financial Governance – Case Studies:
Using real-life corporate governance failures, including Satyam Computers, PNB Scam, and ICICI Bank crisis, Mr. Chomal demonstrated the critical role of a vigilant CFO in detecting red flags, ensuring internal control systems, and fostering ethical financial practices. These examples served as cautionary tales on the cost of weak financial governance.
5. CFO and Global Mindset:
With globalization, Mr. Chomal emphasized the need for CFOs to think beyond domestic borders. A global mindset includes understanding international markets, foreign exchange risk, cross-cultural negotiations, global taxation, and compliance with international accounting standards — all crucial for scaling up into multinational operations.
Student Engagement:
The session witnessed active participation, with students engaging in questions around real-life CFO challenges, ethical dilemmas, and the scope of financial leadership. Mr. Chomal’s practical advice on career paths in finance and the importance of integrity in financial roles left a lasting impression.
Conclusion:
The session provided a forward-looking perspective on financial leadership. Mr. Govind Chomal effectively bridged classroom concepts with boardroom realities, offering aspiring managers an inspiring vision of the strategic role of finance in building sustainable, ethical, and global businesses. This session enriched the orientation program and broadened the students’ understanding of finance as a strategic and global function.