On July 31, Boston Business Journal named Bud LaRosa of Tocci Building Companies CFO of the Year. The 5thAnnual CFO of the Year Awards luncheon was held at the Sheraton Boston. The event featured keynote speaker, Kenneth Feinberg, administrator of One Fund Boston. The CFO of the Year Award recognizes CFOs who significantly improve their companies and organizations based on criteria that includes: demonstrated financial growth, overcoming significant business challenges, team leadership, and superior management.
"Bud exemplifies everything as it relates to being a leading CFO," said Chris McIntosh, publisher of the Boston Business Journal. "He is a strong, dedicated leader and serves as an outstanding CFO for Tocci. We are honored to have awarded him with the CFO of the Year award."
After serving as Tocci's CFO from 2001 to 2003, LaRosa returned in 2012 as the chief business performance officer (CBPO) and CFO. A member, past vice president and membership committee chair of the Mass. Chapter of the Construction Financial Managers Association (CFMA), LaRosa is recognized for his long-term leadership in business. Over the past 18 months at Tocci, LaRosa has transformed operations by developing performance dashboards and rigorous metrics, in addition to temporarily assuming leadership of business development and sales.
The ease with which LaRosa stepped into leadership in 2012 demonstrated to the team his dedication to Tocci and his financial acumen as CFO. "Bud's influence extends to every department through his competence, personality and passion," said Lila Tocci, director of company life and charitable giving at Tocci. "I could not think of a more deserving CFO than Bud for this award. Staff seek him out because, even when he is pressed by many deadlines, he makes himself available as an active listener and gifted coach."
LaRosa's recent business development contributions have been invaluable to Tocci. "I saw many growth opportunities for Tocci when I arrived in 2012," LaRosa said. "By creating a strategic development plan, we were able to ensure an increase in both individual team member and overall performance that continues to climb toward pre-recession levels." Under his leadership, Tocci Building Companies has increased profitability on consulting work by 30%, has increased consulting revenue by 20%, and has initiated realistic action plans that have increased qualified prospects and proposal opportunities by 40%.
Outside of his responsibilities as CFO, LaRosa's involvement in both the Tocci and Metro-Boston communities made him a standout candidate for the CFO of the Year award. Within the company, LaRosa fostered community action by overseeing furnishing and clothing drives for organizations such as A Mission of Deeds, a non-profit in Reading, and the Multiple Sclerosis Association of America. Additionally, he promoted local community involvement by having Tocci host monthly meetings for both the Woburn Library Foundation and the Young Professionals Group at North Suburban Chamber of Commerce.