Andy Fastow is the former CFO of Enron Corporation. Within eight years of his being hired by Enron, Fastow was one of the youngest (36 years old) and most successful CFO in corporate American. CFO Magazine named him CFO of the year in 1999. one of the most successful CFOs in corporate America. However, by 2002, Fastow was indicted on federal charges associated with his use of off-balance sheet transactions. He later pled guilty and was the government’s key witness against former Enron Chairman Ken Lay and its CEO Jeff Skilling. Fastow was sentenced to 6 years in federal prison. It was an epic fall from grace … but now comes a new chapter.
There are numerous accounts of the downfall of Enron, but few people hear the message directly from the person who was at the center of this historical case. Fastow is an engaging speaker who takes full responsibility for his actions, is transparent in his delivery and provides a perspective that he only he can deliver. His talk in 2013 at the annual Association of Certified Fraud Examiner conference was well received … and right on point.
Fastow speaks on a number of topics including through telling his own cautionary tale:
- The Enron Case And His Role
- Managing Corporate Growth
- CFOs Decisions Based On Input From Accounting And Legal Professionals
- Off Balance Sheet Transactions
- Managing Wall Street Expectations as a CFO
- Prison and Reflections On Consequences
Risk of Following The Rules But Still Committing Fraud
Insights Into Why Your People Do What They Do
Ethics, Compliance, And Corporate Governance
The Questions Directors And Compliance Professionals Should Be Asking.
You will find few interviews with Fastow as he lives a low-key life in Houston. However, his presentations are anything but low-key and are a perfect for management retreats, firm training sessions, Board of Director and corporate events. There is more to the Enron case that what you may have read, and there is certainly more to Andy Fastow than what you think.
Walt’s Take: I’ve known Andy for four years and have been to a number of his presentations. He is thoughtful and reflective, while providing an insightful account of how he saw things at Enron. What makes his presentation so engaging is that most people in the audience believe that they know him based on media accounts or from what they read about him in business school. Based on what I know about Andy, they are missing the mark. His presentation will resonate with every level of an organization, from the CEO to line staff.