ON Partners Recruits CFO for LightForce

October 20, 2023 – Executive search firm ON Partners recently recruited Gene Fetisov as the new CFO for LightForce. He steps into this role as LightForce prepares for growth following the announcement of Series D funding. Partner Lenny Vairo led the assignment for the research firm. “Gene has been a very successful CFO for several high-growth companies in large markets where technology was a key lever,” said Alfred Griffin, co-founder and CEO. “He has a history of growing companies and taking them public while serving business. Gene’s financial experience and ability to quickly solve complex problems will be invaluable to the LightForce team as we continue to expand into the market and support orthodontists embracing digital orthodontics.”

Mr. Fetisov brings over 25 years of financial leadership expertise to LightForce. He has a track record of not only nurturing the growth of companies, but also guiding them to successful IPOs. “His appointment is a strategic move that reaffirms LightForce’s commitment to taking the dental technology industry to new heights,” the company said.

Previously, Mr. Fetisov has served as CFO of Semrush. Before that, he held the same position as Exchange Luxoft and Moscow. “With Gene’s financial expertise and strategic vision, LightForce is poised to expand its manufacturing capabilities and extend its support to a broader spectrum of customers across the market,” the company said.

“I’m really impressed with the work that LightForce has done,” said Mr. Fetisov. “They have built an impressive company that will continue to grow in the large global dental market, transforming it with personalized products and digital treatment planning. With this latest round of funding, we will be able to focus on scaling our manufacturing and go-to-market functions while reaching a greater number of customers.”

LightForce is a digital platform that provides orthodontists with fully customized, 3D printed tooth movement tools. Founded in 2015 by Dr. Griffin, along with Dr. Lou Shuman, the company’s mission is to revolutionize orthodontics through advanced manufacturing and technology.

With a primary focus on the technology, consumer, industrial and life science sectors, ON Partners recruits C-level and board talent for public and private companies, as well as venture capital and private equity firms. Founded in 2006, the firm’s consultants work from offices in Atlanta; Boston; Chicago; Cleveland; Dallas; Menlo Park, CA; Minneapolis. MN; San Francisco; and New York. ON Partners was named one of the fastest growing research firms this year by Hunt Scanlon Media. The firm now ranks as one of the nation’s top 20 search firms.

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Mr. Vairo has over 25 years in executive search, recruiting CEO, C-level and senior executives in a variety of industry sectors, including technology and enterprise, industrial and life sciences. He has experience in private equity and public companies.

The evolving roles of the CFO

Since the impact of COVID-19, CFOs are being asked to play an ever-expanding role. “The troubled environment companies are operating on demands a different skill set in the CFO leadership,” said ON Partners co-president Tim Conti. “CFOs are playing a critical strategic role in the company, not only to pull the necessary levers to secure a company’s financial platform, but also to position the company to emerge in a strong competitive position in a market where not everyone will survive. This requires the CFO to lead from the front, be strategic and smart, to navigate a company through troubled waters. When boards and CEOs are not confident that they have this strategic CFO, then they have no choice but to look for an alternative.”

Financial Services is Booming, The Role of the CFO Continues to Evolve
Despite economic uncertainty and the challenges of finding the best talent, the financial sector continues to change and grow. Interviewed by Hunt Scanlon Media, specialist research leaders in the sector offer their insights on the way forward, CFO responsibilities and more.

“In times like these, where businesses demand hyper-agility, being a functional specialist is not good enough,” said Bryan Buck, partner at ON Partners. “CFOs are now required to be able to look around and understand the physical (and digital) trends that are reshaping their world – and then act quickly. They need to think like P&L owners – not accountants. Regardless of the product or service their company provides, customer expectations have changed. And the most in-demand CFOs right now are those who have proven to be nimble and business-focused enough to take organizations where the ball is moving (both organically and inorganically).

This business environment is also putting more pressure on CFOs. “There is clearly a greater need for CFOs to operate with transparency around the realities of market conditions, how those conditions are impacting the business in the short and long term, and what strategic steps are being taken to address the challenges they face. ,” said Mr. Continuation. “Shareholders understand that market conditions are challenging and they will be more patient in these unique times, but only if they have confidence in the CFO’s leadership and strategy.”

“Yes – and it’s industry agnostic,” added Mr. Buck. “For public companies specifically, those in negatively impacted sectors are trying to survive the rapid slowdown and maintain various levels of ongoing business operations while planning and positioning for a potential recovery that may occur.” within the next few quarters… or in the next few years,” he said. “Public finance leaders on the other end of that spectrum are seeing tremendous growth and demand, but they’re also aware that the current stock price reflects Wall Street’s expectation of excellence — leaving no room for quarterly missteps. “

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Contributed by Scott A. Scanlon, Editor-in-Chief; and Dale M. Zupsansky, Managing Editor – Hunt Scanlon Media