Thomas Söderstedt from Best Western Hotels & Resorts became CFO of the Year 2022 when Azets recognized CFOs in franchises at the Swedish Franchise Awards this weekend.
The Swedish Franchise Association, an interest group, organizes the Swedish Franchise Gala every year to recognize talented franchise entrepreneurs. Through the collaboration between Azets and the Swedish Franchise Association, Azets recognizes talented financial managers by awarding the “CFO of the Year” award at the gala.
The award is given to the CFO within a franchise who, through their innovative thinking, has developed a finance function that has had a major positive impact on the financial development of the franchise system. Finalists in this year's award were the finance managers Erik Romell – Apoteksgruppen, Johannes Yalcin – Grekiska grill & bar and Thomas Söderstedt – Best Western Hotels & Resorts. At the Swedish Franchise Gala on May 13, Thomas Söderstedt from Best Western Hotels & Resorts was named CFO of the Year.
– The award is very much appreciated and I feel honored to receive this fine award. Our industry has suffered a steel bath as a result of the pandemic, our company lost almost 90% of turnover initially with liquidity challenges as a result. I share this award with all my colleagues and our affiliated hotels. It is through strong cooperation that we have together made it through this difficult time, says Thomas Söderstedt, CFO at BWH Hotel Group Scandinavia.
The formal justification from the jury, which consists of representatives from Azets and McDonalds, reads:
“Thomas Söderstedt's efforts have been crucial to the company's financial development. With a new model for forecasting, better reports and efficiency improvements, he has helped take the business through a tough pandemic. In addition, with close and transparent communication that has made franchisees feel secure.”
– Thomas Söderstedt is a worthy winner and a good example of a CFO who, through his innovative thinking, has developed a finance and accounting function that has had a major positive impact on the franchise system's financial development. In addition, Thomas has struggled with a pandemic that has hit the entire industry hard. With the “CFO of the Year” award, we want to put talented financial managers in the spotlight who deserve to be recognized for their important work. Congratulations Thomas Söderstedt and Best Western Hotels & Resorts, says June Mejlgaard Jensen, CEO of Azets in Sweden and Denmark.
