SUMMER 2023 | CONTENTS


President and CEO Matthew Brusch, CAE


Editor-in-Chief Al Rickard, CAE


arickard@associationvision.com


Art Direction THOR Design Studio www.thor.design


Letters to the Editor IR UpdateTM


welcomes letters to the


editor. Please send feedback to arickard@associationvision.com.


About NIRI Founded in 1969, NIRI is the professional association of corporate officers and investor relations consultants responsible for communication among corporate management, shareholders, securities analysts, and other financial community constituents. NIRI is the largest professional investor relations association in the world with members representing over 1,500 publicly held companies and $12 trillion in stock market capitalization.


About IR UpdateTM IR Update is published by NIRI: The Association for Investor Relations, as a service to its members.


ISSN 1098-5220


© 2023 by NIRI: The Association for Investor Relations. All rights reserved.


For change of address, contact: NIRI–IR Update


Phone: (703) 562-7700 memberservices@niri.org www.niri.org


8 NIRI CONFERENCE Tackling the Tough Topics at the


2023 NIRI Annual Conference The world’s largest gathering of IR professionals delivered learning on key issues facing investor relations professionals. BY AL RICKARD, CAE


18 EARNINGS AND GUIDANCE


Revisiting Guidance in a Changing World


How to navigate the nuances of guidance in times of uncertainty. BY NICOLE NOUTSIOS


22 MARKETING Best Practices for Storytelling 28 CAREER BUILDING Making the Leap from IRO to CFO:


A Path Worth Traveling? Three chief financial officers and an executive recruiter talk about career journeys and what it takes to become a CFO. BY ALEXANDRA WALSH


to Today’s Investors Adding digital marketing to the IR toolkit can increase engagement and build the investor brand. BY CHRIS ISRAELSKI


DEPARTMENTS 18


2 AT THE BELL Congratulations and the Beat Goes On... BY KATIE ROYCE, CFA


3 NIRI NOW • NIRI Announces 2022-2023 Chapter Volunteers of the Year


• NIRI Announces 2023 Class of Rising Leaders Under 40


• NIRI Publishes Seventh Edition of Standards of Practice for Investor Relations – Disclosure


• NIRI Publishes 2023 Earnings Process Practices Research Report


• NIRI Designates Broadridge as an Approved Professional Development Unit Provider • On the Move


6 SPOTLIGHT ON THE CEO Matthew C. Lucey, PBF Energy Inc.


34 PAST IS PROLOGUE Tackling the Issues of the Year … But Which Year?


36 Q&A WITH NIRI MEMBERS Solid Advice for IROs Starting New Positions


niri.org/ irupdate


IR UPDAT E ■ S UMMER 2 0 2 3 1

Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40