Jonathan Leon on COVID-19 impact
From Mastering the Art of Centralized Treasury with Jonathan Leon · · Treasury TV
“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.”
On , Jonathan Leon, Executive Vice President, Chief Financial Officer & Corporate Treasurer at OWENS & MINOR INC, spoke about COVID-19 impact during Mastering the Art of Centralized Treasury with Jonathan Leon on Treasury TV.
About Jonathan Leon
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.