CFO Studio Magazine with Bernd-Peter Bier, CFO, Bayer

4th QUARTER 2015 WWW.CFOSTUDIO.COM 29 Jens Obermueller Vice President and General Counsel U.S. Symrise, Inc. Richard Wingate Vice President, Regional General Counsel LG Electronics USA Mark Goldberg General Counsel Bluestar Silicones USA Corporation Jay Sabin General Counsel Grocery Haulers, Inc. David Persing Senior Vice President, General Counsel, and Secretary Metromedia Company, Inc. Jason Stephans Senior Counsel DSM North America Mark Weller Former Vice President, General Counsel Linde North America Cindy Birnbaum Ronson General Counsel A&E Stores, Inc. Spinning a Web Social media is ephemeral, and that means youmust have a strong website to serve as a permanent home. “Awebsite can be a strong marketing tool,” said Jay Sabin, Esq., General Counsel, Grocery Haulers, a third-party logistics operator based inWoodbridge, NJ. Mr. Denenberg responded that most millennials do not visit websites. They turn to social networks like Instagram and Snapchat to keep informed. “It’s a different world. Kids are not watching television the way we did when we were growing up, although thankfully, they’re still watching sports. There is very little appointment viewing anymore. They watch when they want to watch, and they are consuming our content on a variety of devices,” said Mr. Denenberg. It’s not just millennials who have made that type of switch. Netflix, not exactly a millennial brand, has more than 65 million streaming members in more than 50 countries. “It is the fastest-growing stock this year,” added Mr. Sabin. Not all the companies represented at the dinner have social media platforms. “We are an old-school business focused on bricks and mortar,” said Cindy BirnbaumRonson, Esq., Vice President andGeneral Counsel, Teterboro, NJ–based A&E Stores, Inc., a company that operates Strawberry, Pay/half, and Bolton’s stores. Its shops are in high-traffic areas like Grand Central Station inNewYork City. “We have some of the most beautiful mannequins in the city. People see our mannequins and they draw them into the store.” Mark Goldberg, Esq., General Counsel, Bluestar Silicones USA Corporation, a fully integrated silicone manufacturer, based in East Brunswick, NJ, emphasized “the importance of a robust website.” In the case of his company, regulatory and product data sheets are posted on the site. Financing a Marketing Effort David Persing, Esq., Senior Vice President and General Counsel, New York City– based Metromedia Company, Inc., a media holding company, shared with the dinner guests his experience working for Major League Baseball in the 1990s. He asked Mr. Denenberg if the NBA has a joint-financing arrangement for its teams. The NBA has a league-wide credit facility, said Mr. Denenberg. The facility is secured by the NBA’s national media revenues and other NBA-related assets, and allows participating teams to obtain favorable financing. The NBA’s team marketing and business operations department, or TMBO, is responsible for developing, compiling, analyzing, and sharing among teams ways to drive franchise profitability. “We believe in the sharing of best practices,” said Mr. Denenberg. “Teams compete on the floor, but they don’t compete on the business side.” “You really work for all 30 teams,”Mark Weller, Esq., former Senior Vice President, General Counsel and Secretary, Linde North America, a world-leading gases and engineering company, pointed out toMr. Denenberg. NBA’s Global Reach Media helps build a market globally. The NBA operates on a global stage. Tweets, videos, and other posts are available in faraway places. Mr. Weller asked Mr. Denenberg about perceptions of the NBA in other parts of the world. “We recognize the global popularity of basketball and continue to look for opportunities to grow the game and our business,” said Mr. Denenberg. “We regularly play pre-season (and sometimes regular season) games overseas, and there is huge interest in our players and products,” he added. “There are millions of people watching our games in China, which is great, but there are other countries where we’re still trying to stoke interest. It’s hard to believe that in 1983, the NBA Finals were broadcast David Denenberg Senior Vice President - Global Media Distribution and Business Affairs, NBA Entertainment, Inc. Discussion Leader