Avionics News November 2015 - 32
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The Oseitutu family
rafting in their spare
light Display Systems enhances
aircraft cabins with smart,
innovative technology and
is reinventing cabin management
and in-flight entertainment.
Based in Alpharetta, Georgia, the
company designs and manufactures
innovative technologies that enable
mobile VIPs to easily control the
cabin environment, collaborate
and share information in a simple,
Recently, Patricia Luebke of
Avionics News, spoke with the
company's chief financial officer,
Shango Oseitutu, to learn more
about his work and life outside the
Shango Oseitutu of Flight Display Systems
What are your responsibilities
as chief financial officer?
There are four high-level areas where
I focus the majority of my attention.
First, I'm responsible for ensuring that
FDS has the resources it needs to deliver
on our strategic plan. Second, I help
the company make good decisions on
how to best use its resources. We need
to know where to invest our capital in
the business - in systems, resources,
processes, policies and procedures
and performance metrics. Third, I
provide transparent communication
on the performance of the company
to its stakeholders - the board of
directors, equity and debt partners, the
management team, and employees.
My fourth area of focus is recruiting
talented employees and then delegating
and empowering them to provide
meaningful contributions to the success
of the company. At FDS, our success
comes by each employee executing in
their area of expertise while having the
support of the management team.
When did you join FDS?
I began my journey with the
company in March of this year. Prior
to that, I spent the majority of my
career helping companies grow in
the emerging technologies - that's
Internet-based solutions - and
integrated communications industries.
I decided to join FDS after learning
about the company's vision and plans
to become one of the premier cabin
management solutions providers in the
As a CFO, does it matter
what the product or service
is, or is it all the same?
Great question. The answer is yes
and no. In the world of U.S.-based
accounting, there are basic rules
that apply across various products or
services regardless of the industry.
One such general set of rules is the
timing for revenue recognition when
a product or service is sold. There are
only a handful of revenue recognition
rules, and many products and
services across multiple industries
will end up using the same rules. So
in this case, the product or service
does not matter as much.
On the other hand, as a CFO, I am
always concerned about the amount
of profit a company generates. Profit
can vary widely between products
and services within and across
industries. It is a function of how
much it costs to deliver products and
services. Some products and services
have high costs and others low costs.
Because of this variability, it matters
tremendously the products and
services offered by a company.
When I talk with engineers,
I ask them if they tinkered
with appliances growing up.
As a kid, did you balance
your mother's checkbook?
No, I did not balance my mother's
checkbook; however, as a kid I was
always intrigued with math. It was easy
for me. In middle school, I often helped
my classmates solve complex math