DALLAS, Oct. 15, 2020 /PRNewswire/ -- TPN, the creative commerce agency, today announced that Kayla Waters will be appointed as the company's new Chief Financial Officer (CFO), effective November 1. Kayla will be assuming the role from Mike Pate, her boss and mentor of the past 15 years. Mike will be retiring from his 17-year post as TPN's Chief Financial Officer and helping usher in his protégé. Mike will stay on in a consulting role into early 2021 to ensure a smooth transition for Waters.
"It has been a true honor to spend 17 years at TPN, an agency that not only delivers for its clients but also embodies a soul and spirit that is unmatched," said Pate. "As I transition to this next chapter of my life, I couldn't feel more confident to be passing the torch into the very capable and talented hands of Kayla. She possesses the passion, rigor and commitment to maximize resources and help us reach the bottom line, all while leading with empathy, respect and integrity."
Waters, who most recently served as Senior Vice President of Finance for TPN, will work alongside the leadership team, continuing to enhance operations and workflow, deliver cost-effective results, drive profitability and help the agency and its clients achieve success. Her role will also include continuing to manage the agency's internal reporting structure on client profitability and employee utilization, a system that she created. And in partnership with Omnicom, Waters implemented a new enterprise resource planning software program, enhancing how the business manages operations. She will continue to oversee that. Waters will report directly to Sharon Love, CEO of TPN.
"There aren't enough words to express my sincere thanks to Mike Pate, who has been my trusted partner, friend and advisor for the past 17 years. Mike is leaving an indelible mark on the entire TPN family; he helped build this agency," said Love. "I am also grateful to Mike for his foresight in choosing and developing such a strong teammate in Kayla. As a result, I have all the confidence in this transition and in the future with Kayla as my partner, leading our finance team. I know Kayla will continue to help TPN evolve and grow in 2021 and beyond."
Waters has more than 20 years of experience in the finance industry and has served in various roles at TPN over the last 15 years, including Financial Analyst, Accounting Manager, Vice President & Corporate Controller and, most recently, Senior Vice President of Finance.
Waters' new role as CFO comes during a year in which the appointment of female CFOs has broken a record. A recent Financial Post article noted that more than 90 women were in CFO roles at S&P 500 companies as of August 1, which is already more than in any other year.
"I've certainly had an amazing example of female leadership as I've watched Sharon foster and grow this agency into what it is today. She is very committed to promoting women into top roles" said Waters. "I have also learned so much from Mike and will certainly leverage all of the efficiencies and processes that we built together as I step into this new role. My hope is to continue building an impressive service organization that not only drives results but has a bit of fun along the way."
About TPN (www.tpnretail.com) TPN is the creative commerce agency that exists to Make the Buy Happen for some of the most iconic retailer, technology and CPG brands in the world. We specialize in all things commerce—leveraging the agency's core practice areas of Digital Commerce, Brand, Retailer and Shopper—to create connected experiences that drive sales and build brand commitment. TPN is a part of Omnicom and sits within the Omnicom Commerce Group. The agency has nine offices across the U.S. and in the U.K. and is celebrating more than three decades of delivering creativity and results.