“The human side is what drives the vast majority of organizations and helps them achieve their objectives,” says Nelson Gentiletti, BComm 83.
After a stellar career at some of Quebec’s biggest companies, Nelson Gentiletti, BComm 83, has taken on an unlikely role — helping a startup with the mission of leading a sustainable plastic revolution.
“I am by far the elder statesman at the company so I’m at a different stage in my career,” says Gentiletti. “The torch will be passed on in the near future to someone younger to help the company to its next level of development.”
Gentiletti — a former executive at TC Transcontinental, Transat, BCE Emergis and Unican Security Systems — joined Loop Industries in 2019. Since his arrival as chief operating and chief financial officer, he has helped raise approximately $70 million USD in financing for the Terrebonne-based company to fund the research and development of industrial-scale facilities for its next-generation PET plastic recycling technology.
Using waste including bottles, carpets and even ocean plastics that have been degraded by the sun and salt, Loop’s technology aims to create the highest-quality plastic, suitable for use in food-grade packaging.
We recently spoke with the John Molson School of Business (JMSB) alum to hear about his latest business trajectory.
What attracted you to Loop Industries?
Nelson Gentiletti: I retired from big corporations after more than 35 years and explored other interests, like coaching younger CFOs, to help the next generation. I never planned to end up in a startup, but I admire the determination and conviction of the employees and its founder. It’s their life.
Loop didn’t have a lot of money when I joined but had a great technology with a lot of potential that had to be scaled from a pilot to an industrial scale, which is never a simple task. I wanted to do my part to help a local Quebec company succeed in achieving this and enable it to deploy its technology on a global scale. Building an industrial technology is a long and complicated process and I knew I would only play a small role in helping the company achieve this before passing the baton.
How were you able to raise funds for a pre-revenue company?
NG: There is always an adrenaline rush when you are working to close a deal, but when you are a pre-revenue public company this is very different than working with very profitable, established companies where investors are chasing you to invest their money. When you’re in a pre-revenue public company people aren't throwing money at you. Selfishly, I wanted to check that box to say I was part of a team able to raise money in the most difficult conditions.
What significant lesson have you learned in your career?
NG: The human side is what drives the vast majority of organizations and helps them achieve their objectives.
When I came back to Montreal from working in New York and travelling around the world, I thought that people were going to throw themselves at me, asking me to come to work with them. But when you’re gone for a long period of time you lose your network — I faced a real reality check, which humbled me substantially.
I’m extremely fortunate to have worked for wonderful leaders who early on gave me significant responsibility and allowed me to experience some failures as part of my learning process. I learned the importance of connecting with people from incredible entrepreneurs like Aaron Fish, LLD 16, who recently passed away. Aaron always treated everyone equally, whether you were an executive or a factory worker.
How did Concordia influence your career?
NG: I didn’t come from an environment where there were a lot of professionals around me. My parents were immigrants and they were blue-collar people. Concordia was a school that was inclusive and had many people that came from a similar background — this helped me tremendously when I transitioned to the school.
Part of my success has come as a result of the people, the experiences and what I learned at the school, which have shaped the person I am.
How have you maintained your connection with your alma mater?
NG: I’ve come full circle. I’ve been a member of the advisory board for Concordia’s John Molson School of Business for five years. To me, this is part of giving back to the university — in finances and in time. I am a big believer that students graduating today have so much potential and that the business community must contribute to their development while they are in school.
Concordia and JMSB have come a long way since I graduated in 1983, but they have stayed true to their values of openness and acceptance from individuals from varied backgrounds. COVID-19 is testing the resiliency of the school but I truly believe there is a bright future ahead for the business school under the leadership of Dean Anne-Marie Croteau.
