Alumni
Profile: Blythe McGarvie '77
Jet setter
As CFO for a multinational corporation, Blythe McGarvie
’78 travels the world looking for challenges
Blythe Jaski McGarvie divides her year not
by seasons, but by time zones. As executive vice president
and chief financial officer of BIC Group, the 1978 Kellogg
School graduate spends one-third of her year in Paris, one-third
in New York and the last third criss-crossing continents to
visit regional offices from Singapore to São Paulo.
It’s this jet-setting schedule that
McGarvie appreciates most about her job. When asked what she
loves about her role in a multinational corporation, she doesn’t
hesitate: “The exposure to different cultures. I deal
with all four continents, since we are in 160 countries, and
I like the challenge of each culture.”
McGarvie also enjoys the opportunity to make
a difference through her role at the company.
One significant difference she has made since
joining BIC in July 1999 was helping to bring the company’s
French accounting system up to international standards. And
as for making a contribution to the company’s success
on a daily basis, McGarvie faces the challenge of “changing
the culture from solely an income-statement focus to a balance-sheet
focus,” a transformation which helps improve the firm’s
cash flow.
The Chicago native lives by her credo, “Be
ready now so when opportunity knocks, you’re always
prepared.” In 1988 she had studied French but took a
year of Berlitz Italian for fun because she’d always
dreamed of living overseas. By the early ’90s, she was
serving as chief administrative officer for the Pacific Rim
Group of Sara Lee Corp., overseeing finance operations in
Asia, Australia and South America.
At Sara Lee, McGarvie experienced a defining
challenge in her career when she was asked to perform the
due diligence during an acquisition of a Finnish company.
“Strategically it was the right thing to do,”
she recalls. But as she worked on the case, the situation
was different from the projections in the acquisition model,
even though a signed letter of intent had already been sent.
“So I had to come back to senior management and convince
them to renegotiate the takeover term,” she says. Later
the chairman of Sara Lee told her that she had the courage
to stick up for her convictions. “That meant a lot to
me,” McGarvie says.
From Sara Lee, she jumped to senior vice president
and CFO of Hannaford Bros., a $3 billion food retailer based
in Portland, Maine. After five years, the company was being
sold, and she relocated to Paris to work for BIC, a worldwide
leader in writing instruments, lighters and one-piece shavers.
And it’s with BIC that the 45-year-old CFO has been
able to put her language and public company skills to frequent
use.
Her financial expertise and “be prepared”
mentality set the stage for invitations to serve on three
prominent corporate board of directors — Pepsi Bottling
Group, Accenture and Wawa Inc. “We need to change the
mindset to prove that people under 50 can actually serve on
boards,” she says, urging her Kellogg colleagues to
“take risks and help others” to give younger entrepreneurs
a chance to flourish.
If you happen to spot McGarvie during her
many travels around the world or her favorite getaway spot,
Virginia, you’ll likely find her eyes fixed on the latest
non-fiction book. Named after a Shelley poem, McGarvie lives
up to her literary roots and recognizes the importance of
reading in her overall success. In fact, she kept her favorite
quote, by Francis Bacon, tacked up to her bulletin board for
years: “Reading maketh a full man, conference a ready
man, and writing an exact man.”
As for her Kellogg peers, she has one plea:
“E-mail me!” As her classmates’ rep, she
wants to hear from them more often. “I am really interested
to learn what they are doing. The older we get, the more we
need to keep in touch and make an effort.”
— Danielle Tullier