We would like to thank Bank of America Merrill Lynch for returning to Tech20 as sponsor of our insightful meeting last week at HP. Their panel on the current shareholder activist environment was the first time this topic has had a standalone session at a NeuGroup meeting and brought new context to the cash distribution discussions that have been a focal point for Tech20, as well as our other treasurer-level groups.
Speaking of cash distribution, prominent among the member priorities introduced was how best to support current cash distribution policy, especially with regard to dividends, in the wake of Apple’s announcement earlier in that week. The ante has been raised for many members as a result. The same might be said for issuing debt to help fund distributions, too, in the wake of this week’s Apple bond issue.
Other meeting highlights included:
- Advice on the treasurer to CFO path. HP CFO and former Tech20 member Cathie Lesjak offered her insight.
- FX management program adjustments. A case-study of a member program highlighted recent changes and focal points to prepare for a world of cleared derivatives and greater OTC market transparency.
- APB 23 rep practices and latest tax reform views. The increasing focus on off-shore cash makes this an important recurring topic.
Thanks to all the Tech20 members who participated in the discussions last week. Your shared insights and experiences are what continue to make the Tech20 meetings enlightening.
The Tech20 was founded in November 2001 for MNC treasurers in the technology sector. As the first NeuGroup, it is the catalyst for our unrivaled network of now more than 15 membership groups. The Tech20 remains the leading forum for treasurer-level peer knowledge exchange in tech.