March/April 2007
By Hope S. Philbrick
Salute to Women
Once one woman has cleared that path it’s easier for others to get there in that organization and in organizations that company touches. – Lenore Krentz
Lenore Krentz is chief financial officer and chief administrative officer for FOCUS Brands, Inc. in Atlanta; which franchises and operates Carvel ice cream stores, Cinnabon bakeries, several Seattle’s Best Coffee cafés and recently acquired Schlotzsky’s sandwich shops. Krentz first joined Cinnabon in 1986 “when there were eight locations and the company was a division of Restaurants Unlimited, Inc.,” she says. Since then Cinnabon-and Krentz-went through five different ownership structures. In October 1986 she was named Cinnabon’s controller, advancing to vice president of finance in August 1999 (that same year she moved to Atlanta from Seattle). In January 2002 she was named Cinnabon’s chief financial officer; the company was acquired by FOCUS Brands, Inc. in 2004 and her current position in 2006. This year she has been named the chair of the GRA, after previously serving as treasurer.
Her first employer really jumpstarted her career, Krentz says: “They were so progressive about the development of their people.” She received “extensive training in goal setting, vision, setting priorities. They built a foundation for me that was sustainable over time.” It’s no wonder she says the second key to success is to “pick a good company.” Most critical, however, is to “be good at what you do.”
Growing with a small company, Krentz has experienced a tremendous amount of change. She enjoys working as part of a larger organization, she says, because, “There are so many resources available.” But whether or not formal programs are available, Krentz recommends finding a mentor: “Don’t wait for someone to find you or to be put into a mentoring program. Find people you admire who are influential and that you respect, align yourself with them and learn from them.”
On a career ladder, the top rungs are trickiest; while there are few female CEOs, “that’s changing. Once one woman has cleared that path it’s easier for others to get there in that organization and in organizations that company touches. You’re changing the real experiences of people, and I don’t think that’s a fast process. I think we’ve come a long way. We’re changing the structure of business leadership in the country, not just the restaurant industry.”
Secret of Success
“Have a voice; it is so important to be heard. A lot of time you do that through contribution, and then people seek you out and over time your influence grows.”
-Lenore Krentz
