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Maria Carioca
Co-CEO & CFO, Galp Energia, SGPS

1º episódio - EY e um café com… Maria João Carioca, CFO Galp

🎥 Jul 21, 2024 📺 EY Portugal ⏱ 6m 👁 2385 views
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About Maria Carioca

In a July 2024 podcast interview, Maria Carioca, Co-CEO and CFO of Galp Energia, discussed the company’s challenges amid the energy transition. She stated that Galp’s challenges are shared by the entire sector, requiring management of the transition in a way that satisfies both society and investors. She described the company as having a history of profitable growth and said the goal is to sustain that story while coordinating with the transition. Carioca also offered career advice, recommending that those starting in finance avoid overly detailed planning and remain open to unexpected opportunities. She emphasized the importance of integrating the finance function with the company’s overall strategy and business, rather than operating as a closed, self-contained area.

Source: AI-verified profile updated from Maria Carioca's recent appearances. Browse all interviews →

Transcript (11 segments)
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Interviewer0:15
Welcome, we are premiering today the first episode of a new format, a coffee conversation with, today with Maria João Carioca, who is CFO of Galp Energia. Very welcome, thank you very much.
Here we will have several company directors, and the idea is to get to know Maria João and Galp Energia a little better, a company dedicated to the exploration, production and commercialization of oil, natural gas, and electricity, and which recently announced the discovery of oil reserves in Namibia and the sale of gas assets in Mozambique. In this context, I would find it very interesting what are the challenges that Galp Energia faces and how it is addressing.
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Maria Carioca1:04
First of all, thank you for the opportunity. The format is very interesting, so it is a pleasure to be here in this trial with you. The challenges of Galp largely revolve around something shared by the entire sector: the fact that we have an energy transition ahead of us that we have to manage in a way that makes society comfortable, as well as our investors. Therefore, the challenge is to find the support for our story. We are a company with a history of growth, profitable growth, and to do this in coordination with an energy transition that we are all designing as we go, managing this balance between profitability, energy transition, and sustainability.
I
Interviewer1:53
Correct. Now looking a bit at your professional career, right? Strategic consulting, financial sector, now the energy sector, how did you come to Galp? What were the main challenges? How was this, what balance do you make of this last year?
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Maria Carioca2:11
Very positive. I was very well welcomed at Galp. I came because of the interest and permanent curiosity I have to learn something new and face a challenge that truly calls to me. I loved my time at Caixa, but when presented with the possibility of learning a new sector, a new company, a function that in many aspects has angles that are also new, it was obviously a very strong appeal, and at this moment it leaves me very satisfied. It is a strong learning experience, and that is exactly what gives me energy and motivates me to seek more, and I am having it in full.
And now, advice for those who are starting their career in finance and aspire to become a CFO one day: I think one of the main ones is that if you are just starting out, do not plan everything in too much detail, because life takes many turns. What has served me well is being available to turn with life rather than necessarily having a very pre-defined, closed, and rigid path. And I think it is that availability to embrace a challenge, that availability to not say no when an opportunity is placed in front of you, that availability to want to learn. In my case, that is what has driven my career, and I believe it can be useful to others. Also, I think it is always important to keep in mind in the finance function, because sometimes it is a function that is very self-fulfilling, but it is worth much more when it is well articulated with the company's strategy, when it works well with the business, when it is part of a whole instead of being a very closed and self-contained area. So, be in the company as a whole.
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Interviewer4:06
Those are great advice, I would say. And now, knowing that a CFO's life is very intense on a daily basis, how do you manage to reconcile this professional component with the personal component? Any trick, something that doesn't?
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Maria Carioca4:23
With a lot of patience from my family, it is always the answer. More than me not giving up, it is the things that together we manage to create as spaces of balance over the years. I have become, for example, fiercely protective of my weekends. I think they are part of my balance. I am aware that each person has their own balance, so I have no ready-made recipe, but I think much of it comes from being very transparent with the people around us. My husband, my daughters know when I am going through a more difficult period, they know when I am happy with what I am doing, and therefore I also find more energy to do other things. They know when I need support and vice versa. We have to be able to strike these balances. So I have no secret recipe other than navigating by sight, but always letting those close to us know which way we are going.
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Interviewer5:19
Great. To finish, one last question. Since we are here close to the Tejo, near the holidays, certainly you have already planned yours. What kind of holidays are ideal for you? More by the sea, countryside, or something more urban?
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Maria Carioca5:37
I really like cities, but in cities I get very tired. My husband and I are the type who can walk 20 km in a day in a city, covering everything on foot. I am not a big fan of the beach, but on the beach I can rest. This year I am going to Canada to do trekking in British Columbia, near Victoria, to see the glacier area, the mountains, to see nature literally. Once again, I think I like diversity. I rarely repeat a place, I like new things, and to keep adding to my bucket list, adding experiences, and to keep ticking them off, saying, oh look, this is new and it's good.
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Interviewer6:18
Maria João, thank you very much for being here with us, for the advice you left us today. Follow us in the next episodes with new protagonists in 'A Coffee Conversation'. Thank you very much.