Latham Group CFO shares lessons from handling market shifts
Oliver Gloe, the chief financial officer of Latham Group Inc., has led the swimming pool manufacturer through significant market changes, cost management, and an expansion push over nearly three years. The company, which has 1,900 employees across 40 locations, specializes in designing and building residential pools for North America, Australia, and New Zealand.
Since its 2021 listing on Nasdaq under the ticker SWIM, Latham has managed a post-pandemic slowdown while providing guidance for 12% revenue growth this year in what is expected to be a flat industry. Gloe took over in October 2023, just as the COVID-era surge in pool construction began to fade. His initial priority was stabilizing operations by reducing unnecessary costs while safeguarding investments in key brands and strategic initiatives. “Those were difficult trade-offs, but they were essential,” he noted.
The adjustments positioned Latham to outperform competitors in a market that had stalled. Customer payment patterns play a key role in the company’s stability. Approximately half of Latham’s buyers pay in cash, shielding them from economic fluctuations. The remaining half depend on financing, leaving their purchasing power vulnerable to interest rate changes and consumer confidence levels. The 2008 financial crisis demonstrated how quickly financed purchases decline when borrowing costs rise. Gloe’s approach has centered on balancing risk control with growth potential—a lesson reinforced by the downturn’s aftermath. A defining feature of Latham’s resilience is its organizational structure. Gloe promotes a collaborative model over isolated departments, encouraging finance staff to take on broader responsibilities, such as participating in mergers and acquisitions.
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Just two weeks after joining his first employer, he was asked to represent finance on an M&A project while his manager was away. These opportunities accelerate development, increase visibility across the organization, and earn finance a seat at the table. Gloe’s background has shaped his guidance for future CFOs. He moved 24 times in his life and worked across Asia, Europe, and the U.S., giving him a broader perspective.
He advises aspiring leaders to seek stretch assignments, maintain curiosity, and raise their hand for opportunities others may not take. Another transformative factor is the adoption of artificial intelligence in Latham’s finance operations. While still in early stages, the company already uses AI to identify data errors, spot anomalies, and highlight data points that may not belong in normal recurring processes.
Gloe anticipates AI will further enhance scenario analysis, such as simulating the effects of oil prices surging to $150 per barrel. “The ability to analyze those complex scenarios will be very powerful,” he said. Despite progress, challenges persist. Gloe highlights two ongoing concerns: maintaining stability while remaining flexible enough to seize unexpected opportunities. Over the past five years, Latham has repeatedly adjusted—whether modifying production to comply with tariffs, renegotiating supplier agreements, or shifting sales strategies. The uncertainty and challenges the company has faced have made it much more agile and dynamic as an organization. This adaptability is not just a finance responsibility but a company-wide trait.
