When Wiedenfels took up his appointment as CFO at Discovery Inc. in 2017, CEO David Zaslav invited him to take four weeks to “take a good look at Discovery Inc.” and report back his fresh outside-in perspective. Zaslav didn’t have to ask twice.
One of the early observations Wiedenfels made was that the external financial reporting and internal management reporting was focused on high level profit and loss metrics, leaving, “a big gaping hole in the middle”. He saw that the company was not set up to manage for cash as he believed it ought to be. As Wiedenfels stated in a June 2021 interview by the Hollywood Reporter, “cash never lies”.