Thursday, January 2, 2020

KIND appoints savvy 9-year-old boy CFO for a day

KIND appoints savvy 9-year-old boy CFO for a dayKIND appoints savvy 9-year-old boy CFO for a dayEvery kids dream is to be a chief financial officer someday, right?Well, maybe not, but alittle initiative and curiosity helped 9-year-old Alex Mnoz make it to the executive suite about three decades ahead of time. His brilliant idea why didnt the private company look to go public and list its shares on a stock exchange, where everyone could buy them?Aletter to Daniel Lubetzky, CEO and Founder of snack company KIND,helped nine-year-old Mnozland a spot as CFO For a Day at the companys New York headquarters- as well as 10 shares of the private company, according to CNBC.A KIND spokesperson told Ladders that Mnoz is the companys youngest-ever shareholder.So how did Mnoz, who reportedly just completed third grade, get his corporate finance idea? His parents taught him a lot. Mnoz learned about investing from his mom, which led to the family brainstorming the idea that Alex would invest $500. Alexsfather is Don Munoz, CFO at biopharmaceutical company NuCanaand a former investment banker. Investment bankers advise companies on their financial choices, including mergers and acquisitions, initial public offerings and selling bonds - so he welches probably an excellent guide for young Alex on what KINDs options could be.Mnoz wrote to Lubetzky saying that hed been looking into KIND, wants to invest with some money he has coming soon, and that his family buys KIND bars.Do you know when you will go public? the boy said in the letter, in addition to asking again. Alex used a perfect networking technique, too bonding with Lubetzy about their similar backgrounds.Alexs mom, Dara Mnoz,told ABC Newsshe gave her son a savvy boost.I reached Daniels assistant and I told her I had a funny letter and I thought that it would make her laugh. I didnt think any of this would happen, Mnoz told the media outlet.Lubetzky ended up receiving the letter andletMnoz be CFO For A Day at the headquart ers, where they met.The spokesperson also told Ladders that before they got 10 shares, the Mnozfamily did not own any shares of the company, or have any other connections to the company.Alexs letter to the bossAlex in action at KIND headquartersKIND CEO and founder Daniel Lubetzky tweeted a photo of from Alexs visit.Heres Alex with KINDs actual CFO.So what else did the little CFOdo that day?Mnoz received business cards from the company, got to taste and rate different KIND bars from 1-10 and had a meeting with the current CFO, Zahir Ibrahim, who talked to him aboutbeing a good CFO, according to ABC News.The boy reportedly has ideas for KIND other than going public, like making commercials, investing further in its charitable projects, and developing more products.Alex is a remarkable kid, and hes lucky to have parents who indulge his intellectual curiosity. When he began to ask about investing, they encuraged him to explore. Over the years, Ive realized that much of our success in l ife stems from luck. But much of that luck is also related to our persistence in the game. If you dont play the game, after all, you cant score. It is critical that we build- in ourselves and in our offspring- the self-confidence necessary to keep playing the game, even if we dont think we are good at it. I love that Alexs parents encouraged him to take risks and learn by doing Lubetzky wrote in a LinkedIn post.Sometimes, starting early comes with generous perks.