Executive Vice President, Chief Financial Officer & Corporate Treasurer, Owens Minor
Search every verified Jonathan Leon interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2024 podcast, Jonathan Leon, Executive Vice President, Chief Financial Officer, and Corporate Treasurer at Owens & Minor, discussed his approach to centralized treasury and the company's recent financial challenges. He stated that Owens & Minor was "a pretty leveraged company" when he joined, and that during the COVID-19 pandemic the company had to "ramp up manufacturing and distribution capabilities" while ensuring liquidity. Leon said the company built a "working capital discipline" starting about five years ago, which he described as beginning with a small team and growing into a 30-person cross-functional group that receives attention from the CEO and board. Leon also shared his views on treasury management and professional development. He said he believes in centralized treasury, arguing that managing cash on a regional basis prevents seeing the "entire picture." He described himself as "maniacal about continuous improvement" and advised that treasury professionals should "raise your hand and get out of your comfort zone." Regarding mergers and acquisitions, he said the biggest lesson he has learned is to "not assume you have it right" and to approach diligence with an open mind.
“I think the greatest skill that a treasury professional can bring to the table is accounting knowledge. Treasurers come up with economically attractive ideas that may not make sense in terms of accounting or financial reporting, so understanding that impact is critical.”
“We built a working capital discipline probably five years ago at Owens & Minor, which started with a small team and has grown into a 30-person cross-functional organizational call that gets the attention of the highest levels of the organization, including our CEO and board.”
“Owens & Minor was a pretty leveraged company when I joined, and during COVID-19, we had to ramp up manufacturing and distribution capabilities unlike anything we imagined before, while ensuring liquidity and customer payments.”
“I am maniacal about continuous improvement. I always want to think about what's next, stop to celebrate accomplishments, and then move on to the next challenge.”
“I believe in centralized treasury because if you're managing cash on a regional or local basis, you don't get to see the entire picture. Centralization gives the corporation a corporate asset—the 'bread basket'—to be strategic with liquidity.”
“I find it my responsibility to remind people that when investing in countries where it's difficult to extract cash, we should minimize capital and operate to the minimum needed to get by, avoiding cushion cash that local managers often want.”
“The biggest thing I've learned in M&A is don't assume you have it right. Assume things are done the way they are for a reason, and approach with an open mind during diligence.”
“I think people get too comfortable with their jobs. I've never seen a boss say no to someone wanting to take on more or learn different things. Raising your hand and getting out of your comfort zone is critical.”
In this episode, Jonathan Leon, the Senior Vice President and Corporate Treasurer at Owens & Minor, shares his treasury career ...
Sign in to search the full transcript archive, filter by topic, and access every quote from Jonathan Leon.
The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →