The Day 2 Keynote at the 2025 Corporate Financial Reporting Insights (CFRI) Conference featured a candid and inspiring conversation between Pascal Desroches, Chief Financial Officer at AT&T, and Sabrina Sanders, Chief Accounting Officer at AT&T. Their session, “Leading Through Change: Insights from CFO Pascal Desroches on Navigating Policy, Practice, and Leadership,” offered attendees a rare look into the mindset and leadership philosophy of one of the industry’s most respected finance executives.
Key Takeaways
1. Embracing Change as a Constant Desroches emphasized that “the only constant in life is change,” drawing on his personal journey from Haiti to New York City, his early career in public accounting, and pivotal roles at KPMG, the SEC, Time Warner, and ultimately AT&T. He shared that adaptability and openness to new experiences have been critical throughout his career, especially when facing unprecedented challenges.
2. Calm Leadership in Crisis Reflecting on his experience navigating the aftermath of the AOL-Time Warner merger and subsequent investigations, Desroches highlighted the importance of staying calm under pressure. He credits his ability to maintain perspective and involve others in decision-making as key to effective leadership during turbulent times.
3. Leading AT&T Through Transformation Upon joining AT&T Desroches faced complex decisions: reducing debt, investing in 5G and fiber, and divesting major business units. He described the necessity of making tough calls—such as resizing the dividend and selling the media business—to position AT&T for long-term growth. His transparent communication with the board, employees, and investors was central to regaining credibility and driving results.
4. Navigating Regulatory and Risk Landscapes Desroches underscored the importance of transparency and trust with stakeholders, especially in a highly regulated industry. He advised that regulatory constraints should be accepted as part of doing business and that clear, honest disclosures are essential for building investor confidence.
5. The Impact of AI and Technology A recurring theme was the transformative potential of AI in finance and accounting. Desroches encouraged leaders to lean into technological change, invest in workforce development, and ensure teams are equipped with new skills. He acknowledged the disruption AI may bring but remains optimistic about its long-term benefits for productivity and career fulfillment.
6. Leadership and Team Development Desroches’s leadership philosophy centers on empathy, transparency, and continuous learning. He stressed the importance of bringing teams along during transformation, investing in their development, and fostering a culture where embracing change is the norm. He also highlighted AT&T’s competitive financial development program as a model for workforce growth.
7. Advice for Emerging Leaders His advice: “Lean in, embrace change, and keep perspective.” Desroches encouraged emerging leaders to ask themselves what the alternative to embracing change is and to focus on what will matter in the long run. Optimism, he noted, is essential for rallying teams and navigating uncertainty.
Personal Insights
Beyond his professional achievements, Desroches shared the importance of self-care, family, and maintaining relationships. He credits his parents’ sacrifices and optimism as foundational to his outlook and success.
Register for Day 3: On-Demand Access & CPE Replay Sessions
Don’t miss Day 3 of CFRI 2025! Registration includes on-demand access to the full conference and CPE-accredited replay sessions—perfect for those who want to revisit keynotes like this one or catch up on sessions they missed. For full conference details and to register, click here.