Finance, Leadership, and Impact: Q&A with Chief Financial Officer Michelle Schumacher
Strong leadership isn’t just about making big decisions—it’s about empowering others, fostering growth, and creating opportunities. As Chief Financial Officer at Stoneridge Software, Michelle Schumacher has built her career on these principles, bringing expertise in financial strategy and leadership to both her role and her work on the Association of International Certified Professional Accountants (AICPA) Board of Directors. Beyond the numbers, she’s passionate about mentorship, elevating women in finance, and giving back. In this Q&A, she shares her career journey, leadership insights, and advice for aspiring finance professionals.
Q: What sparked your interest in finance and accounting, and what has fueled your passion for it over your career?
A: I actually started college on a music scholarship, playing the saxophone. On the second day when I learned I'd have to sing as part of my music classes, plans quickly changed.
As I started my career, I realized how blessed I was to have a strong set of financial skills, something that many businesses struggle with. My continued interest has been sparked by a fascination with numbers and the stories they tell. I have learned that it’s not just about crunching numbers; it's about understanding the underlying dynamics of a business and making informed decisions that drive growth and success. Over the years, my passion has been fueled by the ever-evolving nature of the industry, the challenges it presents, and the opportunity to make a tangible impact on the organizations I work with.
Q: How did your time at Microsoft shape your approach to finance and leadership, and what lessons have you carried into your role as CFO at Stoneridge?
A: I spent 8 years working for Microsoft prior to Stoneridge, both in Corporate Accounting and on the Cloud + AI finance team. Having in-depth experience inside Microsoft helped me to be able to understand the technology our clients utilize and implement and how we can best support them as their consulting partner. In addition, we utilize much of the same technology internally – which has a broad impact across the teams I lead within our Internal Operations department.
My time at Microsoft was instrumental in shaping my approach to finance and leadership. At Microsoft, I was exposed to a culture of innovation, collaboration, and continuous improvement. I learned the importance of agility in decision-making and the value of fostering a diverse and inclusive environment. These lessons have been invaluable in my role as CFO at Stoneridge, where I strive to create a culture that encourages creativity, embraces change, and prioritizes the development of our team members. The emphasis on data-driven decision-making and strategic thinking at Microsoft has also influenced my approach to financial management and leadership at Stoneridge.
Q: What has been the most rewarding part of your journey at Stoneridge, and how has your experience here contributed to your growth as a finance professional?
A: The most rewarding part of my journey at Stoneridge has been the opportunity to lead a talented team and drive meaningful change within the organization. Seeing the positive impact of our financial strategies on the company's growth and success has been incredibly fulfilling. My experience at Stoneridge has contributed to my growth as a finance professional by challenging me to think critically, adapt to new situations, and continuously seek ways to improve our processes and outcomes. Our collaborative environment has also allowed me to learn from my colleagues and grow both personally and professionally.
Q: What role have mentorship and sponsorship played in your career as a woman in finance, and how do you think these relationships help elevate women in the industry?
A: Mentorship and sponsorship have been pivotal in my career. Mentors have provided me with invaluable guidance, helping me navigate complex challenges and offering insights that have shaped my professional journey. Sponsors, on the other hand, have actively advocated for me, opening doors to new opportunities and ensuring that my contributions are recognized. These relationships have not only bolstered my confidence but also expanded my network, allowing me to connect with other professionals who share similar goals and aspirations.
In the finance industry, mentorship and sponsorship are crucial for elevating women. They provide a support system that encourages women to pursue leadership roles and break through barriers that have traditionally limited their advancement. Mentorship offers a safe space for women to seek advice and learn from the experiences of others, while sponsorship ensures that their achievements are visible and rewarded. Together, these relationships create a more inclusive and equitable environment, fostering growth and success.
Q: Any advice for women aspiring to step into leadership roles in finance and/or technology?
A: My advice for women aspiring to step into leadership roles in finance and technology is to believe in yourself and your abilities. Seek out mentors and sponsors who can provide guidance and support, and don't be afraid to take risks and pursue opportunities that challenge you. Continuously invest in your professional development and stay informed about industry trends and best practices. Build a strong network of colleagues and peers who can offer insights and encouragement. Most importantly, be resilient and persistent in the face of challenges, and strive to make a positive impact in your organization and the industry.
Q: How have your leadership experiences shaped your career in finance, and how have they contributed to your growth as a leader?
A: Leading teams and projects has helped me develop a deeper understanding of the complexities of financial management and the critical role of leadership in driving organizational success. These opportunities have shaped my leadership journey by honing my ability to inspire and motivate others, make informed decisions, and navigate challenges with confidence and resilience.
Volunteering has also played a significant role in my leadership journey. It has allowed me to give back to the community, develop new skills, and build meaningful connections. Volunteering fosters a sense of empathy and social responsibility, which are essential qualities for any leader.
Q: How has serving on the Association of International Certified Professional Accountants (AICPA) Board of Directors influenced your approach as CFO?
A: The Association of International Certified Professional Accountants (AICPA) board is comprised of members of the American Institution of Certified Public Accountants and the Chartered Institute of Management Accountants. It directs the strategic vision of both organizations, serving around 700,000 members. In my role on the board, I get to work alongside other leaders in the accounting profession to execute and influence initiatives designed to advance both management and public accounting globally.
Serving on the AICPA Board of Directors has provided me with a unique perspective on the accounting profession and its impact on the broader business landscape. This experience has influenced my approach as CFO at Stoneridge by reinforcing the importance of ethical standards, professional development, and industry collaboration. It has also given me insights into emerging trends and challenges in the accounting field, which I incorporate into our financial strategies and decision-making processes. Being part of the AICPA Board has strengthened my commitment to fostering a culture of integrity, innovation, and excellence at Stoneridge, and has enhanced my ability to lead with a forward-thinking mindset.
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