Famil Mustafajev is the Finance Director at Nutreco in the Netherlands. Famil shares what gets him out of bed in the morning, the challenges of managing teams across over 50 countries and why Nutreco’s success ultimately rests on welfare in the populations it serves.

What’s the number-one thing that helps you drive your career forward?

As a child, I was always breaking things to find out how they worked – and that curiosity has stayed with me throughout my life. I’m always looking for new challenges; new ways to do things.

Some people say, “How can you call yourself curious and open to new ideas when you’ve worked for the same employer for 19 years?” My answer is simple: my employer’s the only thing that’s remained the same!

With Nutreco, I’ve been fortunate enough to have had a hugely diverse career, ongoing training, and opportunities to travel and work all over the world. Things are constantly changing; I’m learning all the time and there’s never a dull moment, which I love. And I believe that, when you love what you do, you don’t need a motivator – passion drives progression, naturally.

What’s been the biggest challenge you’ve faced during your career?

If I had to pick one thing, it would probably be the timely anticipation of change. Doing the right thing at the right time.

I’ve practised judo for many years, and I always think of it like a move against an opponent. You have to anticipate. If you wait to react, it’s too late – you’re already flat on your back. You have to understand market dynamics and be ready to act before a change take place, no matter what it is.

What’s the biggest myth about your profession that you’d like to debunk?

I’m really happy you asked this question – the myth would definitely be that Finance is boring! Or that it’s a necessary evil, something you wouldn’t do if you had the choice.

I often quote my old mentor, a Scottish entrepreneur: “We are in business for fun and money – but if there’s no money, there’s no fun!”

Finance is only boring if you don’t understand the depth of it – if the numbers don’t speak to you. It’s the major way we measure the performance of a business. It’s at the heart of every investment made, every job created and every product produced. Where would we be without it?

For me, Finance is a complex, fascinating field that’s central to every business decision. This is why I’ve devoted the best part of my life to my profession, and why I continue to do so today.

You’re currently based in the Netherlands, and work with teams in Africa and Asia. How do you develop innovative, high-performing teams when you’re so geographically diverse?

Obviously, proximity makes all sorts of things easier – but it doesn’t change the essence of what you do. I follow a few simple principles. You need the best teams in place, you need to provide them with the right tools, and give them the framework, guidance and support to allow them to come up with their own ideas and act on them.

My area of responsibility spans more than 50 countries, so it’s not about telling people what to do and how to do it. If you have the right people in place – you account for differences in culture, education levels and skills, and you put the right training opportunities in place – you can confidently trust that your teams will come up with the best ways to develop the business locally.

What sustainability challenges do you face as an organisation?

Perhaps the most obvious challenge is energy, in terms of availability and source. For example, in Africa, it’s almost impossible to secure a reliable power supply and factories are often run on generators. That’s costly for both the environment and Nutreco, especially given the spike in energy prices.

So, under our Sustainability RoadMap 2025, we prioritise improvements in energy efficiency that will help us measurably reduce our greenhouse gas (GHG) emissions by investing in and promoting initiatives on renewable energy.  I believe increasing the production of green energy is one of the biggest sustainability challenges in the developing world. Demand is rising, climate change is affecting everybody, and getting fossil fuels is becoming more and more expensive, and more and more difficult. The good news is, there are so many ways to scale up in this area – especially in countries like Africa, where the climate affords huge potential to tap into solar energy, for example. While green solutions are scarce right now, I can see investment increasing dramatically over the coming years.

Another huge factor affecting the success of our business is the link between welfare and demand in our markets. Even the slightest change in food prices causes in a drop in demand, which is understandable when you consider how low the average income is for many families in the developing world.

An article in The Economist recently claimed that, even before COVID and the war in Ukraine, more than 60% of the population in Nigeria was living on less than $2.15 per day. When you consider that a kilo of fish is more than a dollar, then just one fish would cost you half your daily income.

On the other end of the spectrum, we know that when income per capita increases, so does protein consumption. Through Nutreco’s purpose of Feeding the Future, we are focused on ensuring there is enough healthy protein available to feed the growing global population in generations to come. We’re also doing all we can to boost prosperity in the populations we serve – creating jobs with steady incomes. But these are worldwide issues, and ones we can’t tackle alone.  

How is the crisis in Ukraine affecting your markets?

In addition to the deplorable human suffering and loss of life, the war has caused enormous disruption across markets in Europe. The company’s most important area of focus was, of course, to help ensure the safety of our Ukrainian colleagues and their families. We also sold our Russian livestock feed operation to its local management in 2022.

The indirect impact has been an increase in raw material prices and scarcity of cereals – especially in North and Eastern Africa. Goods have become more expensive, logistics more complex and more costly. Very few companies – or people – in Europe have been completely unaffected. We have worked hard to ensure continuity in our supply chains, so we can continue providing the nutritional solutions our customers need to keep producing the protein consumers’ demand.

What does your company do to retain high potential employees?

Plenty of my co-workers have been with the company far longer than my 19 years – as long as 35 years, in some cases. I think that’s because Nutreco allows us to grow professionally, to travel internationally and to learn from colleagues all over the world.

They’re also extremely diligent about people’s safety, from the top down. Even the smallest incidents are carefully reported, so we can learn from each other. It feels good to work for an organisation that so clearly cares for the development and welfare of its employees. When people feel cared for, they stay.

How has continuing professional development impacted your career?

Ongoing education is both a necessity and a privilege.

It’s necessary because, as everybody knows, the world is changing. And, if you don’t keep up, you fall behind. But, for me, it’s also a privilege, and there are so many benefits above and beyond the learning itself.

When I first came to work in the Netherlands, I already had a PhD, but I still felt there were gaps in my knowledge, especially regarding specific Dutch reporting requirements and tax rules. I had the opportunity to do an Executive Master of Finance and Control at Nyenrode Business University.

It didn’t just help me learn more for my role, it also gave me an insight into the level of education in the country – so, if anyone were to come to me for a job in future, I’d know what to expect from them.

Since then, I’ve aimed to complete at least one new training course every year – and I encourage all my direct reports to do the same.  

What are your tips for achieving a good work-life balance?

If you enjoy what you do, it can be difficult, but it is important to draw a line. My advice would be to plan your private time as efficiently and carefully as your professional time. We’re all used to using an agenda for our working days, but we tend not to structure our free time – and, as a result, work can very easily eat into it.

So, whether it’s spending time with family, playing sport, reading a book – put it on your to-do list. Those things are just as important.

As you know, EMEA Recruitment is a partner of the charity Operation Smile. We’re curious to know, what’s the last thing that made you smile?

Last week, my daughter had her final Econometrics exam at university in Rotterdam. She came home and said, “That’s it – I’m done!” It was one of those times when I didn’t have to ask how it had gone – I could read everything I needed to know in her face. Seeing her light up like this was one of the happiest moments in my life.

Thank you to Famil for speaking to Michael Bentil, Senior Consultant in our Finance & Accountancy recruitment team in the Netherlands.

Views and opinions contained within our Executive Interviews are those of the interviewee and not views shared by EMEA Recruitment.