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It took decades for Zita Cobb to make her way back to Fogo Island. A connection is made when two people are officers, directors, or otherwise associated with the same company. Harry L. You, that is. On the flip side, if you’re not a CFO, a VP of strategy gig can be a stepping-stone. We did not want our competitors to get their hands on that particular technology. Zita Cobb, former CFO of JDS Fitel Inc. (later JDS Uniphase Corp.), was named EVP of strategy and business development in May 2000, and took a leave this past April to sail around the world. The Fogo Island Inn Phenomenon How Zita Cobb’s Ingenuity Can Change the Way We All Do Business There is no success story quite like that of Zita Cobb. After a very successful career in the tech sector, she returned in 2001, determined to help her remote island, home-community prosper. Readers can also interact with The Globe on Facebook and Twitter . Paull was recently promoted to EVP and CFO of fast-food giant McDonald’s Corp., based in Oak Brook, Ill. Zita Cobb At age 16, she left to study business at Carleton University in Ottawa and became a senior finance professional in the high technology industry. Zita Cobb is Former Member, Board of Directors at The Rooms. She left Fogo at age 16 to study business at Carleton University in Ottawa. My background in tech conditioned me to go fast. How Multimillionaire Zita Cobb Plans to Turn a Tiny Canadian Island. That means: Comments that violate our community guidelines will be removed. What it taught me was, if a decision feels rushed and defensive, don’t do it. - My boss at JDSU, Jozef Straus, always said, ”The most important thing is to keep the most important thing the most important thing.“ This was especially relevant in technology, but it’s relevant to all undertakings—personal and professional. A registered Canadian charity, Shorefast uses business-minded means to help secure economic and cultural resilience for Fogo Island, Newfoundland: one of Canada’s oldest settlements. Joy Covey, former CFO of Amazon .com Inc., became SVP of corporate strategy, research and development, then left in April 2000. Zita Cobb grew up on Fogo Island and went on to a career as a senior finance professional in the high technology industry. Its Innkeeper, Zita Cobb, was born on Fogo Island and left to make a living. Nowell had been finance chief at Somers, N.Y.-based Pepsi Bottling Group Inc. for a little under a year before he left to pursue other opportunities. Zita Cobb, an 8th generation Fogo Islander, left the island to attend college in the 1980âs, eventually becoming the CFO of a high-tech company in Ontario. Otherwise, you would just die. How Multimillionaire Zita Cobb Plans to Turn a Tiny Canadian Island. Aug 06, 2020 Homecoming Zita Cobb on Fogo Island, in front of her foundation's first exercising stock options worth $69 million, and left to sail her 47-foot She was the chief financial officer of JDS Fitel, and senior vice president of strategy for fiber optics manufacturer JDS Uniphase. She’s a slender woman in her early 50s, with close cropped hair that gives her a certain iron-pixie mien. Zita Cobb deserves a tremendous amount of credit for her drive, her imagination and her passion to help stimulate growth and economic security in the area. Welcome to The Globe and Mail’s comment community. Aug 04, 2020 Homecoming Zita Cobb on Fogo Island, in front of her foundation's first exercising stock options worth $69 million, and left to sail her 47-foot The Possibility of an Island, in Canada Aug 04, 2020 Zita Cobb asked. Cobb resolved to build an inn â and help transform the island into a geotouristic destination. Jesse Greene, former CFO of Compaq Computer Corp., was named SVP of strategic planning in March, and announced his retirement in June. - We created a travel destination in service of the community of Fogo Island, which is where I grew up. In one year alone, she engineered 42 takeovers. Following a … Zita Cobb’s integrity, ideas and vision – and above all her actions – have made her a leader of the social entrepreneurship movement, which she practises as well as preaches, having personally invested 40 million dollars in building a sustainable world-class community-driven business in her … View Zita Cobb’s professional profile on Relationship Science, the database of decision makers. Zita Cobb is Founder and CEO of Shorefast and Innkeeper of the Fogo Island Inn. - The instinct of the tech beast is to eat its young and move on. So our focus and energies were divided between the outside world and engaging with the local community. He is also accountable for the controller and worldwide tax staff.Â. When a CFO gets “promoted” to VP of strategy, or a similar role, it’s often a thinly veiled segue to retirement. Statia Elliot, left, director of the University of Guelph's School of Hospitality, Food and Tourism Management, presents an award to Zita Cobb. Born in the late 1950s, Zita Cobb didn’t leave the tiny outport of Joe Batt’s Arm … Zita Cobb, former CFO of JDS Fitel Inc. (later JDS Uniphase Corp.), was named EVP of strategy and business development in May 2000, and took a leave this past April to sail around the world. Many people want to have an urban life and so they should. Welcome to The Globe and Mail’s comment community. CFO Publishing LLC, a division of The Argyle Group. PepsiCo Inc. CFO Indra Nooyi was previously SVP of corporate strategy and development. ... Why Zita Cobb left her CFO job â¦ And three times in 2001, Polaroid has sought waivers on its bank loans. You’ve been named VP of strategic planning: Is it a promotion or your last hurrah? There are exceptions, of course. Born into the Cobb family, Mary Zita's father was an inshore fisherman. - Working with my brothers has been a reminder that I didn’t fully understand their needs, talents and capacities. Zita Cobb was raised in a home without electricity or running water in Joe Battâs Arm, a stamp-size community on â¦ Homecoming Zita Cobb on Fogo Island, in front of her foundation’s first ... and then left to study business at Carleton University, in Ottawa. When you teach a young person how to do a good job under pressure, youâve given them their greatest gift as a chef. How Multimillionaire Zita Cobb Plans to Turn a Tiny Canadian Island . The company bridges the experience of the current CFO by naming him to this rather nebulous role.”. - I took too much from my old traditional business life to this community development work. One deal, in particular, was a disaster because we got caught up in a bidding war. She has six brothers with a fifteen year age gap between herself and the eldest. ‘The instinct of the tech beast is to eat its young and move on’. Cobb resolved to build an inn — and help transform the island into a geotouristic destination. May, 2019: Zita Cobb discusses her endeavors at Fogo Island, including how to turn money into fish. Dennis Carey, former CFO of The Home Depot Inc., was named EVP of business development, strategy, and corporate operations in May. - I think people see me as having gone from the business world to the philanthropy world, but I’ve actually just gone from the ”for-profit” world to the ”not-just-for-profit” world. Progressing in her field, she became the CFO of JDS Fitel, subsequently JDS Uniphase, and contributed to building the company into one of the leaders in high-tech innovation. ... Cobb was CFO. James Keane was SVP of corporate strategy prior to landing the CFO spot at Steelcase Inc. in February. It seems the fizz has gone out of the CFO role for Lionell L. Nowell. He replaced Carl L. Lueders, acting CFO since the January resignation of Judith G. Boynton, who left a day before Polaroid reported a fourth-quarter loss. Now she want to rebuild it by doing old things a new way ... Zita Cobb, president of Shorefast Foundation, ... which will generate more than 70 jobs. He replaces 26-year veteran Michael Conley, who has retired. Zita Cobb has been associated with one company, according to public records. Those amenities didn’t arrive on the island until 1972. After a very successful career in the tech sector, she returned in 2001, determined to help her remote island, home-community prosper. Sep 06, 2020 Homecoming Zita Cobb on Fogo Island, in front of her foundation's first exercising stock options worth $69 million, and left to sail her 47-foot ... CFO Excel Connections for Zita Cobb. Zita Cobb asked. Some information in it may no longer be current. When the company merged with a big U.S. firm Cobb was able to exercise stock options and retire, becoming a multi-millionaire. If you are looking to give feedback on our new site, please send it along to, To view this site properly, enable cookies in your browser. Zita Cobb is co-founder and CEO of the Shorefast Foundation, a registered Canadian charity, and founder and Innkeeper of the Fogo Island Inn. Like most islanders, Cobbâs father was a cod fisherman. Cobb was born and raised on the island before pursuing a (very successful) career in business and technology, returning in her early retirement to establish the Shorefast Foundation with her brothers. A child of one such fisherman, Zita Cobb left Fogo Island for university in Ottawa. © Copyright 2020 The Globe and Mail Inc. All rights reserved. I never felt I could let my guard down when working in tech—the next wave of technological advancement could render our company irrelevant. In the world of doing, the most important thing is perseverance. There are several recent examples. You need to have lots of both to convince people your ideas have merit. Zita Cobb, Founder and CEO of The Shorefast Foundation, is an eighth generation Fogo Islander. But, then, nothing about the Fogo Island Inn — the hotel Cobb built in the remote reaches of Newfoundland — is typical. The daughter of a wild island off Canada’s East Coast, Zita Cobb left her home behind to conquer Silicon Valley as CFO of tech company JDSU. Until she was ten, she recognized Fogo Island to have an independent minded culture. Zita Cobb at Fogo Island Inn – photo by Karen Anderson. It depends on what your last job was. The former VP of finance and controller at The California Pizza Kitchen Inc. was named CFO of the dining chain, headquartered in Los Angeles. Zita Cobb, Social Entrepreneur (EG13) on Vimeo All Rights Reserved. Joy Covey, former CFO of Amazon .com Inc., became SVP of corporate strategy, research and development, then left in April 2000. She replaces Linda Govreau, who is pursuing other interests. Only 100 square miles and home to just 2,700 residents, the enclave also houses Fogo Island Inn, helmed by self-proclaimed innkeeper, Zita Cobb. “It seems to happen when there’s a chance to bring in a hot new CFO. Zita Cobb returned left the island as a teenager. We aim to create a safe and valuable space for discussion and debate. Zita Cobb is not your typical hotelier. Click here to subscribe. Salvo, 53, replaces Gregory Evans, who moved into the president and CEO slots, succeeding R. Michael Mondavi, who became chairman in May. - The hardest lesson of community development work is to let people do the work—don’t do things to people or, worse, for people. It’s time to get things started at The Jim Henson Co. (headquartered in Hollywood), where Nancy H. Schultz has just been named CFO. McLean and other observers agree that the move will end up being a pathway to bigger things for the former General Electric finance exec. "You want to know why I am the way I am?" As someone said, Zita Cobb is smart, worked hard, grew rich, gave back. “Carey” Carrington Jr., who is leaving the company to join U.S. This is a space where subscribers can engage with each other and Globe staff. Zita Cobb attended Carleton University, eventually became the CFO of a successful fiber optics company, and retired in her early 40s as a â¦ Its Innkeeper, Zita Cobb, was born on Fogo Island and left to make a living. - I was responsible for mergers and acquisitions at JDS Uniphase, and in a very short time, we acquired dozens of companies valued in the billions. Fundamentally, says Yannas, the key to the Polaroid situation “is money, and money means the CFO.”, Your email address will not be published. There can be a tendency in families to focus on each others’ deficits. What is different is the purpose. This article was published more than 2 years ago. Zita Cobb, former CFO of JDS Fitel Inc. (later JDS Uniphase Corp.), was named EVP of strategy and business development in May 2000, and took a leave this past April to sail around the world. Communities go at human speed, which is the speed of trust. Aug 27, 2020 Homecoming Zita Cobb on Fogo Island, in front of her foundation's first exercising stock options worth $69 million, and left to sail her 47-foot ... www.fastcompany.com - My dad always said, ”I don’t care about what you think or what you feel; I only care about what you do.” What you do shows your true character, and it is also what impacts other people. Eventually, it grew to become JDS Uniphase and Zita grew to be its CFO and Chief Strategy Officerâ and the third highest-paid woman in America. Thank you for your patience. I always went to work late, because the morning was the only time of the day I had control over, and I always made sure to take three or four consecutive weeks of vacation at a time.
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