Maciek Mikucki is the Managing Director and former Group CFO of Polpharma Group.

Speaking to Hannah Mallia, Maciek provides an insight into Polpharma and the inner workings of the pharmaceutical industry.

He also reflects on his international career journey, offers advice for aspiring CFOs, and discusses the benefits of mentorship.

What advice would you give to those aspiring to become a CFO or Managing Director?

Becoming a CFO, or later, a Managing Director, is not a quick promotion. It is a journey, and in my case, it has been shaped by a mix of technical discipline, continuous learning, and knowing when to step back and trust others.

First, the basics really matter. I started in Finance over 20 years ago, and I still believe you cannot lead from the top if you do not understand the engine room. Early in my career, I made a point of mastering at least one or two areas — whether it was Reporting, Treasury, or Controlling - because that gave me the confidence and language to engage across functions. Even today, I go back to the basics. Once a year, I pick one area and sit with the team to understand how things are done. It is not about micromanaging - it is about staying grounded.

The second thing I learned is the importance of letting go. As you move up, the temptation to stay involved in every detail is strong, especially if you have been successful by being hands-on. But the truth is, if you do not learn to delegate, you will become a bottleneck. I have made that mistake, and I have seen others make it, too. The transition from expert to leader requires trust - in your team, your systems, and the process.

And finally, I have always tried to stay close to business. At Coca-Cola, I used to spend a few days each year with sales reps on the road. In other companies, I spent time in warehouses or production sites. These were not formal programs - I just believed it was important. It helped me connect strategy with reality and build mutual respect with people who often have the clearest view of what is really going on.

If I had to summarize, I would say this: Build deep knowledge early on, stay curious throughout, and, once you lead, lead with trust. These things take time, but they are worth it. They have certainly shaped who I have become — first as a CFO, and now as a Managing Director.

Was that an initiative that you just started doing, or was it advice that you were given?

That habit of staying close to the business did not come from a textbook — it started out of necessity. I was young, working at a glassworks factory in Poland that had just been acquired by private equity. Nobody, including the new owners, really understood how the business operated day to day.

As one of the few people with some knowledge of both the financials and the operations, I was thrown in at the deep end. I spent hours on the factory floor and in the warehouse, talking with people, watching how things worked - not because it was a clever idea, but because there was no other way to figure things out. I did not have a plan; I had a problem to solve. By doing that, I saw how powerful it is to truly understand the business behind the numbers.

That experience stayed with me. Over the years, I kept repeating this approach — not as a one-off crisis response, but as a routine. Whether I was in beverages or pharma, I always made time to be out in the field, with the teams who know what is happening before it hits a dashboard.

So, to answer the question, it started because I had no choice. But later, it became a choice. And it is one of the best decisions I have made in my career.

How do you ensure alignment between the group's financial strategy and the overall business objectives?

Aligning Finance with the wider business strategy is not something that happens after the fact - it must start at the strategy table. In my experience, if the CFO is involved from the beginning, financial thinking becomes part of the company’s DNA, not just a control function at the end.

Over the years, I have seen both sides. When Finance is integrated early, you can help shape decisions, not just fund them. You bring in the discipline of cash, returns, and capital allocation, but you also learn to speak the language of the business. That is when real alignment happens - when both sides understand each other.

I have always believed that the role of Finance is to enable growth, responsibly. Not by saying no, but by asking the right questions: Can we afford it? Will it pay back? Is it the right time? If you get those fundamentals right - cashflow, returns, risk - and stay close to the strategy from day one, alignment becomes natural.

In short: Be at the strategy discussion table early, bring value beyond the numbers, and make sure Finance helps the business move forward, not just stay in line.

How do you strategically invest in R&D while ensuring sustained profitability in such an innovative and dynamic industry?

The key is discipline. Every year, we see dozens of product opportunities, but we only move forward with a few. The first filter is economic: What will it take to develop, register, produce, and launch the product, and what is the likely return? If you are rigorous with your assumptions and realistic about timelines, the numbers will usually point you in the right direction.

Then there is the second filter: Experience and instinct. After two decades in the industry, I have learned that some decisions do not come from a spreadsheet. Sometimes, it is about timing, market shifts, or seeing value where others do not. That judgment grows over time.

In the end, investing in generics is still about managing a portfolio - balancing short-term cashflow with mid-term development and long-term potential. It is a mix of facts, discipline, and, occasionally, a calculated leap. What matters is having a clear process for making those decisions and sticking to it, especially when things get uncertain.

What is a personal highlight of your career so far?

Looking back, there are a few moments that shaped me, but one stands out. It happened early in my career, and it left a mark. I was 26, fresh out of university, and ended up running Finance at a glassworks factory in Poland. It was technically bankrupt, taken over by a private equity investor, and we were given one instruction: Fix it.

I had no formal title, no team, and little experience - but I had to figure it out. We worked day and night (literally), because you cannot shut down a glass furnace once it is running. The stakes were high. People’s jobs were on the line, the factory was bleeding cash, and we had just one year to turn it around. I made every mistake in the book - but I learned fast. In the end, we did it. The company was restructured, saved, and eventually sold at a good return.

That experience taught me more than any course or job title ever could. I learned how to lead under pressure, how to earn trust, how to fix what is broken, and, above all, how to learn from failure. That foundation has stayed with me.

Since then, every role, whether at The Coca-Cola Company, Teva, Seagram, or Polpharma, has brought new lessons. But that early experience is still the one that made me who I am. It taught me that growth does not come from comfort; it comes from being thrown into something you are not fully ready for and finding your way through it.

What excites you most about working in the pharmaceutical industry?

What excites me most about pharma is the mix of complexity, responsibility, and long-term thinking. It is a different world compared to consumer goods, where I also spent part of my career.

In pharma, we do not engage directly with the end consumer - we work with a wide network of professionals and institutions, including pharmacists, healthcare providers, and public authorities. Every decision around the use of a product is made by trained experts, based on evidence and regulation. That makes the business more structured and more demanding. To succeed, you need to ensure your product quality, data integrity, and processes are fully aligned with regulatory expectations. Trust is earned through reliability and compliance, not through promotion.

Then there is the operational side. The quality in pharma is non-negotiable, because the patient cannot verify it. If we do not get it right, people’s health is at risk. That adds a level of responsibility you don’t find in many industries. It also means that every part of the chain, from sourcing to manufacturing to distribution, must work flawlessly.

Finally, pharma forces you to think long term. A product can take two years just to reach the market, and much longer if R&D is involved. For someone with a Finance background, that is both challenging and rewarding. You must think in terms of sustainability, not just quarterly results.

In short: Pharma is demanding, but it matters. It pushes you to think broadly, act responsibly, and play the long game, and that is what keeps me engaged.

You've lived and worked in various global locations. How has that helped you continue your professional growth, and would you recommend it?

Working across different countries has shaped me both professionally and personally. I have lived and worked in Poland, Czechia, Hungary, Australia, and now the Netherlands - and each move has added something unique to how I lead and make decisions.

Exposure to diverse cultures changes the way you listen, think, and interact. What works in one country may not land the same way somewhere else. You quickly learn that success is not about applying one fixed model everywhere; it is about adapting, observing, and sometimes holding back before making a call. That teaches you patience and humility.

It also sharpens your understanding of how businesses really operate. Markets may look similar on the surface, but they can be driven by vastly different dynamics - regulatory, economic, or cultural. When you work internationally, you build a broader toolbox and a better instinct for navigating complexity.

So, yes, I would recommend it to anyone who wants to grow. It is not always easy, but it forces you to stretch beyond your comfort zone, and that’s where real development happens.

Were you asked to go into those positions, or did you seek those roles yourself?

Like many career moves, it was a mix of timing, readiness, and saying yes when the opportunity came.

My first role abroad was in Czechia, with Seagram. I did not plan it in advance, but I was open to the challenge. Then came Coca-Cola, where international mobility was part of their global structure. They maintained a list of people ready for international assignments. I was added to that list, and, when the right role popped up, I agreed to go – twice actually. First from Hungary to Poland and then from Poland to Australia. It was not something I chased, but I did not hesitate either.

Over time, I learned that being open and flexible makes an enormous difference. You cannot always control the timing of the next role, but if you are prepared, professionally and personally, you will be ready when the door opens.

Mentorship is renowned for helping with career development and I know you actively post about it on LinkedIn. How do you feel you can add value outside of direct management?

I have always seen mentorship as something different from managing or coaching - it is more personal, more reflective, and often more lasting. I have benefited from it myself, even if only for short periods, and I have seen how powerful it can be when done well.

The value of a mentor is not in giving answers, but in asking better questions. Especially for younger professionals, having someone challenge your thinking, help you look at things from another angle, or simply ask, “Why?” can be a turning point. A good mentor does not steer your ship, but helps you steer it yourself.

Outside of direct management, that is where I think I can add value. I am happy to share experiences, including mistakes, and help others find their own way through. That is also why I post on LinkedIn - not to give advice, but to spark reflection or conversations. I have had many people reach out after a post, and those informal exchanges often lead to something meaningful.

To me, mentorship is about being available, being honest, and creating a safe space for someone to think aloud. It does not take a formal program to be effective - just a bit of time and a willingness to listen.

What is the best piece of professional advice you've ever been given?

The best advice I have received came from a colleague, who said, “Always work as if you’ll meet again.”

It was a reminder that business is a long game. People return in different roles, at different times, and how you’ve treated them before matters. Reputation travels, especially in international or tight-knit industries.

I have kept that in mind throughout my career. Respect, fairness, and integrity cost nothing - and they are often remembered long after the deal is done.

Thank you to Maciek for speaking to Hannah Mallia, Netherlands Country Director at EMEA Recruitment.

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