Leadership in Finance: Starwood's Vasant Prabhu
For the hotel company's CFO, it's much more important now to have a stash of cash than to rake in the revenues. These days, a good night's sleep can be hard to come by for a CFO in a precarious industry like the hotel and time-share business. Banks and investors are well aware of the fragility of travel-and-vacation revenues in the current downturn, and capital doesn't come cheap. Some finance chiefs might feel that the expense of stashing away enough cash to ensure their companies' survival if their worst-case scenarios come true is too high right now. Not Vasant Prabhu, CFO for Starwood Hotels & Resorts Worldwide, however.