868: Armed and Sheltered From the Storm | Tom Fennimore, CFO, Luminar Technologies

The Goldman Sachs “anti-raid” team was between conference calls with an embattled client company when word came that a senior member of the target company’s management team had unexpectedly died. Looking back, Tom Fennimore says that the next few months of his early career years at Goldman then became a transition point—or period of accelerated learning. “It was a very sad situation—they were in the process of being raided,” explains Fennimore, who lists the anti-raid transaction as one of two times when Goldman ultimately offered Fennimore an opportunity to “step up.” The second example came after the resignation of a managing director responsible for the bank’s automotive sector. “I got a battlefield promotion when they said, ‘Hey, we want you to do this, and—depending how you do—we may not replace you,” recalls Fennimore, who notes that while he savored the opportunity and enjoyed success in the role, certain parts of it had little to do with his skillset. “I have a little bit of a baby face,” points out Fennimore, who also comments that members of management teams within the automotive sector were known to value seniority and often had lengthy tenures of multiple decades themselves. Perhaps not surprisingly, Fennimore remembers one bit of related post–board meeting feedback with a little bite: “’Hey, look, you did a great job,’ they told me,” he reports. “‘The board loved you, but they did have one comment: This guy’s too young. They would feel a little more comfortable with somebody with a little more gray hair in the room.’” As for the embattled client company that had unexpectedly lost a key member of management, Fennimore’s youthful appearance turned out to not be enough to deter an invitation for him to fill the company’s sudden management void by relocating to Toronto for a number of months. “The person who passed away was in the middle of the transaction, so it reflected in a good way on me that the client had enough faith in me to have me go up there to live and help them to get things done,” explains Fennimore, who more than 20 years later is not yet sporting any gray hair. In conclusion, he adds: “It’s great to be given a lot of responsibility at a young age, but there will be some unique challenges. You try not to take things personally and to just move on.” –Jack Sweeney