983: The CFO as Architect of Value | Aaron Alt, CFO, Cardinal Health

Published: March 17, 2024, 10 p.m.

In the world of finance, where leadership roles await those who distinguish themselves along a select number of familiar paths, Aaron Alt\u2019s journey to becoming a CFO stands out for its breadth and depth, transcending conventional boundaries.

Starting in law, Alt quickly found his groove inside the legal world\u2019s cornucopia of M&A advisory services. It was here where he would realize the potency of focusing beyond legal parameters\u2014a habit that would spur a pivotal shift in his career from emphasizing legal details to prioritizing relationships and financial strategy.


From the trenches of M&A advisory to the executive suites of public companies, Alt tells us, his foundational philosophy has always revolved around the relentless pursuit of shareholder value creation\u2014a mission that involves uncovering hidden opportunities and fortifying against potential threats.


\u201cIt\u2019s allowed me to look under a lot of rocks,\u201d Alt reflects, underscoring his commitment to safeguarding and nurturing corporate value. It\u2019s just such devotion that 15 months ago led him to step into the CFO office at healthcare giant Cardinal Health.


Alt joined the healthcare company shortly after Cardinal had welcomed a larger and more diverse board as the result of an agreement with an activist investor firm. As part of a broader turnaround plan, Alt\u2019s expertise is now expected to be instrumental in navigating the challenges and opportunities ahead at Cardinal, underlining the company\u2019s readiness to embrace change and foster growth for all stakeholders. To date, a comprehensive self-review of the healthcare giant\u2019s business remains ongoing.


\u201cWe\u2019re very focused on making sure that we are generating cash flow everywhere that we can\u2014and we believe that if we\u2019re consistent in our strategy and clear on our metrics for success, we can get a lot of things done together,\u201d comments Alt, who during our discussion also offers up a strategic lesson from his tenure at Target, specifically regarding the retailer\u2019s decision to exit the Canadian market gracefully.


Says Alt: \u201cThis was one of the hardest working experiences that I\u2019ve had, and its message has stuck with me even as I\u2019ve needed to think about other business problems: You really need to keep an eye on the fact that at the end of the day, even as CFO, it\u2019s not just about the numbers.\u201d \u2013Jack Sweeney