Christine Driessen – Executive Vice President and CFO of ESPN November 29, 2010ArchivesOff

EVP & CFO, ESPN

ESPN CFO Christine Driessen offers a forecast for business finances in 2010.

By Taylor Mallory

2009 is coming to an end – and hopefully, so is the recession. So what is it going to take to start 2010 on a stronger note? ESPN Executive Vice President and CFO Christine Driessen says the biggest leadership challenge in the New Year will be the same as in 2009 – rescaling and resizing. “Even when we’re out of the recession, the revenues and investments won’t be the same as even two years ago, and we have to be realistic about that. So everyone has to be leaner and stronger.”

And that means leaders must have the courage to make difficult decisions, she says. “We’re looking at all our lines of business and determining if there are certain things we can no longer invest in and where we can cut more costs that won’t impact what the fans see – whether that’s how our people travel, the number of cameras on a set or how we produce football games versus basketball games.”

It also means giving up on some “bubble projects,” she says. “When there is a downturn, we no longer have the luxury of waiting a few years to see if every project we think has potential but isn’t making money now will perform.” Tough times mean focusing on the core business drivers, she explains, and sometimes that means cutting the cord. “That’s an incredibly difficult thing to do. People have invested time and energy, and shutting down a facet of the business typically entails downsizing and refocusing strategies,” she explains. “At the same time, we’ll continue to be aggressive in investing in things we really do believe will bring long-term growth, like our recent acquisition of Premier League rights in the U.K.

Here, she talks to PINK about collaboration, motivating her team and being an identical twin:

PINK: What are your professional success secrets?
Christine Driessen: I tell the women I mentor that the first skill anyone who’s an executive or wants to be needs to learn is the ability to effectively communicate. If you can’t tell a story or make a case in a concise, professional, passionate way, you potentially lose the audience as soon as you open your mouth. In executive team meetings, in many cases, you’re swirling around a business topic and everyone has different points of view; I’ve learned how to zero in and focus on the real business issue and be able to articulate what the conversation is all about in the confusion. You can debate forever, but someone has to say, ‘Here’s what we’re really dealing with, and here are some steps to resolution.'” If you can be that person, that’s incredibly powerful.

PINK: What’s your leadership style?
C.D.: Honest, ethical dialogue and clear communication, which creates an environment where people feel free to voice their opinions and be engaged in conversations or business decisions. To do that, you have to ask people what they think, so that there’s a comfort level and they genuinely believe you’ll care about what they have to say. Then they’ll come forward with ideas on their own. Collaboration is a big part of leadership. No one person has all answers.

PINK: How do you motivate your team?
C.D.: I have more than 150 people on my team. I’m pretty demanding; I have to admit. I know there is a lot of talent on my team, so I expect a lot but know they can deliver.  That confidence in them is motivating. And I’m a big believer in paying for performance. They know those who do a great job will be rewarded more than those who don’t. People need to know we’ll recognize hard work and compensate for it. And I try to be aware of what each individual’s personal situation is, like if they have young kids they’re trying to get home to. It’s important to demonstrate desire to know about them and that you care.

PINK: How do you manage your Life/Work balance?
C.D.: I have a son and a daughter, who are both in college. Now, and throughout my career, they have been very understanding of their own responsibility to achieve and tolerant of times when I have not been able to attend certain functions. They’re bright and care about people, and I think they’ll make wonderful contributions in whatever careers they choose. And I have a fantastic husband who gets a lot of credit for my success. He’s my partner provides me with great advice year in and year out, and is my best friend. I tell young women who want to be mothers and work that you have to understand what you’re signing up for. That decision is very personal, and the responsibility for making that decision to work is yours alone – not your employer’s or boss’ or anyone else’s. You have to understand the commitment and how it will work in your own life.

PINK: How do you deal with your frequent travel schedule?
C.D.: In the early years, I engaged my children in the conversation so they became part of my travels. They loved having the best show-and-tell in school, because I’d always bring back  really interesting stuff – a book in Chinese or a local item from the country where I was traveling. It takes focus and prioritization to have any kind of balance. You can’t have 15 things you’re passionate about and do them all well. Too many times, we try to do too much but do nothing well. When my children were younger, my family was everything to me. Other than my career, everything else fell to the side. As the children grew, I could become more involved in things outside my job (like being on boards and giving back) when my focus and priority of being a mother was satisfied. When they were little, they demanded all my free time. You can’t be a gourmet cook, have a clean house, and have a career and a family. Now, work takes up most of my time. I’m a member of the Women’s Sports Foundation’s board, and I mentor to women across the industry and especially at ESPN. That’s something I’m really passionate about. If I can impact one person a week positively, it’s been a great week.

PINK: What’s one thing most people don’t know about you?
C.D.: I’m an identical twin. My sister is an executive at IBM. Being a twin is terrific. I’ve always had a built-in best friend and partner. Next to my husband, she’s my closest confidant. I talk to her at least once a day, no matter where we are in the world. We share stories, good and bad, and give each other advice. We talk a lot about work, being a woman in business and how to impact and help other women coming up in business world. The best advice she gave me recently is to relax and enjoy myself more, to stop and smell the roses. Sometimes we get so caught up in our lives that it’s hard to do that. I try. I love to garden when I can. And I always enjoy being on the water.

PINK: What is one personal goal you haven’t yet achieved?
C.D.: I might like to teach one day. I really enjoy working with young people.  They’re so creative and have such motivation and curiosity. It’s really fun to be around that kind of energy.

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