Sherri Luther on financial management
From CFO Exchange – A Discussion with Sherri Luther · · Armanino
“When I joined Lattice, one of the first things I did was put key metrics in place to manage the business. My motto is what gets measured gets done. We've increased our gross margin by 450 basis points from 2018 to our most recent quarter and significantly reduced SG&A spending while continuing to invest in R&D and the product portfolio.”
On , Sherri Luther, Treasurer & Chief Financial Officer at COHERENT CORP, spoke about financial management during CFO Exchange – A Discussion with Sherri Luther on Armanino.
About Sherri Luther
Sherri Luther, Treasurer and Chief Financial Officer at Coherent, previously served as CFO of Lattice Semiconductor. In a September 2021 roundtable discussion, Luther described steps she took at Lattice to improve financial performance, including implementing key metrics, refinancing debt to reduce leverage from over 5x to 1.3 and the interest rate from over 7% to about 1.5%, and rationalizing R&D projects to focus on those with the highest ROI. She stated that the company increased gross margin by 450 basis points from 2018 and achieved double-digit revenue growth in key market segments. Luther also discussed her management philosophy, saying she established a culture of rigor and accountability where employees develop plans to achieve goals. She emphasized that finance should have a seat at the table in all functional areas and that her team participates in staff meetings of executive leaders to contribute strategically. Luther advised aspiring CFOs to adopt the mindset of the role they seek, seek mentors in various areas, and continuously pursue self-development, noting she was pursuing an executive MBA.