Mark Fennell didn’t grow up dreaming about getting into the AV business, but he’s happy his career as a financial guru took him there.
In particular, the 44-year-old father of two is thrilled his path led to the CFO’s office for Unified AV Systems, where he’s spent the past seven years.
In graduate school, Fennell was working in Memphis for a company that merged with another and became Transys, where he was named assistant controller. When the controller got sick, he took on the job and eventually became CFO of Unified AV’s holding company in 1997 before taking on the same role at Unified AV about seven years ago.
“Accounting and finance is pretty transferrable, other than knowing the business,” says Fennell. “I liked the [Pressley] family and whatever business they were in, I wanted to be in. It’s about the culture of business they bring. They allow people to be part of a casual culture, but with high expectations.”
Moneywise & Wisecracking
Fennell, who enjoys spending time on his boat with his family and engaging in water sports and fishing, brings a sense of humor to the job.
“I’m always trying to crack a joke, even in a board meeting,” says Fennell. “There are certain people who don’t understand the value of investing. I try to present them with an explanation from a business perspective. I like to keep things pretty light and do it in a way that’s easy-going.”
Fennell has watched Unified AV grow from a $4-$5 million company when he arrived to closer to $45-$50 million today. He notes, “There’s a different way a company operates with 50 employees compared to 130.”
Fennell works closely with president Barry Goldin on the big financial decisions for Unified AV these days, as founding partners Jim Pressley and Bruce Banbury have taken a step back in recent year in terms of day-to-day activities. Fennell gets involved in issues around hiring, insurance benefits and reviewing spreadsheets. That sometimes leads to disagreements with employees, but Fennell tries to manage those as much as he can.
“Someone always has a question about something,” he says.
They Can Bank on Him
K.C. Schwarz, CEO of USAV Group, nominated Fennell for the Back Stage honor, CI‘s monthly recognition of integration firms’ unsung heroes.
“In his role, Mark represents a broad group of unsung heroes,” says Schwarz. “Their titles vary — CFO, controller, bookkeeper, director of finance, among others. Mark embodies the best characteristics of this group of ‘back-office wizards.’
“He watches the pennies and nickels, as well as the ‘big bucks.’ He understands finance while also wholeheartedly supporting the Unified AV business model. Like most CFOs, Mark works tirelessly with banks and financial institutions to ensure liquidity and deliver the capital necessary to execute Unified AV’s business plan,” says Schwarz.
Like most in his role, Fennell’s job is not easily defined by a single line on a resume.
“Mark, by necessity, is somewhat of an orchestra conductor — shining the financial baton on operations, engineering, technology, purchasing, human resources, and executive management,” says Schwarz. “Like all good CFOs, Mark understands that ‘the buck stops with the bucks.’ His positive attitude exudes positive realism: ‘We can’t print money, so we have to figure out how to thrive and flourish with the financial resources at our disposal.’
“In a technology-driven market, it’s easy to overlook the people who orchestrate the finances and firmly establish our resource boundaries,” he adds. “Mark Fennell embodies the best of many great finance professionals in the pro AV industry.”
