Bio
Kathy Bonnafe is CEO of Combined Creative (“C2”) and oversees its strategy of investment in existing and new business initiatives. Utilizing her long-tenured leadership, strategic and real estate experience, Kathy leads C2 to both support and invest in the Combined family of existing businesses and new business ventures that are in alignment with the vision of C2’s Founder and Chairman, Ron Haft.
Prior to C2, Kathy was President/CEO of Combined Properties, Incorporated (CPI) with 28 years of tenure. Kathy started at CPI as an intern while pursuing her MBA and worked in various disciplines including finance, acquisitions, and capital markets before advancing her way up to President/CEO. While running the company for 18 years, she is credited with recapitalizing and restructuring the business, expanding into and creating a significant presence in the Los Angeles market and diversifying the asset base from pure retail into multifamily and mixed-use through both acquisitions and a significant development program. Under her leadership, CPI won a number of design and development awards and built a reputation for innovative design and development on both coasts.
Kathy is a passionate supporter of women and diversity in business, speaks at companies and events about leadership, inclusivity and gender bias among other related topics, and is credited with commencing the Urban Land Institute District Council’s Women’s Leadership Initiative. She completed her undergraduate business degree at James Madison University, received a M.B.A. from The George Washington University and currently sits on the Board of Directors for Burke & Herbert Bank.
Shownotes
My guest for Episode #4, Kathy Bonnafe, like my earlier guests, endured struggles in her early years and yet demonstrated resilience and determination to overcome them. She relentlessly “asked” for opportunities at each level starting in grad school all the way to becoming CEO of Combined Properties. I’ve known Kathy for over 25 years since she was a financial analyst at Combined. She was always responsive and knowledgable, yet I knew she was something special in her “presence” and “drive.” Over that time she has transformed into a compassionate leader. Here are a few highlights of our conversation:
- Both of her parents were CIA employees…her father was “covert” during the Cold War and subsequently became an alcoholic. Her mother and she evicted him from their home while she was in high school. (7:20)
- Her mother subsequently “checked out” and stopped caring for her. Kathy tells her kids today, despite a difficult childhood, that she was “grateful” that she learned how to take care of herself (10:20)
- After college she worked at Arthur Anderson writing software (COBOL) and quickly realized it didn’t suit her and she went to GWU Business School to learn finance and then interned at Combined Properties due to her software background (17:25)
- She accepted an assignment to source new software and with its success after learning the structure of a lease to a new position as an analyst. (22:00-25:30)
- Seeking to be “indispensable” she continuously looked for opportunities to learn and respond to company needs to be competitive (27:40)
- This led to being involved in acquisitions and subsequently capital markets until the company went into bankruptcy due to the Haft family ownership disputes, which happened on her 30th birthday (28:45)
- As the most knowledgeable person in the company’s property financing, she was the most deposed witness in the 3 year bankruptcy process. (32:30)
- Upon emergence from bankruptcy she became CFO of the company and shortly afterward when her immediate boss left the company, asked Ron Haft, the owner, to have the job and was offered to be President (35:00)
- She struggles with management and hires an executive coach who helps her understand her shortcomings (47:14)
- Kathy discusses gender bias and how women bring a more collaborative environment (58:00)
- She is encouraged with the Millennial generation’s egalitarian attitude and diversity (1:02:00)
- Dealing with the retail real estate challenges today will take resilience and capital to transition to a mixed use and experience oriented retail (1:08:00)
- Her advice to her 25 yr. old self and her billboard response (1:10:20)
Links
How to learn more about Kathy and Combined Properties and Combined Creative:
Website: https://www.combined.biz/
LinkedIn: https://www.linkedin.com/in/kathy-bonnafe-9074811/
Email: kbonnafe@combined.biz
