It was a moment that would shape Erik Swenson’s approach to finance forever. As a co-op student at Northeastern University, he found himself in front of a room full of engineers, presenting financial metrics he had carefully compiled. When the meeting ended, one of the engineers approached him and said, “That was interesting, but it doesn’t mean anything to me. I make the product.” The comment struck a nerve. Driving home that evening, Swenson couldn’t shake the realization—numbers alone don’t drive a business; they need to connect to the people building it.
Read MoreThat early lesson in financial storytelling set the foundation for a career built on bridging finance with operations. Swenson tells us his path wasn’t a straight line—he originally pursued computer science before pivoting to economics and then accounting. After early roles in financial analysis, he spent 15 years moving through finance leadership positions at Danaher, where he sharpened his ability to translate financial insights into business decisions.
When IDT tapped him to be CFO in 2018, Swenson faced a challenge that tested his adaptability. As he tells us, the company had a strong accounting foundation but needed deeper financial analysis to support its innovation-driven growth. He immediately set to work embedding finance into IDT’s decision-making, ensuring the function wasn’t just reporting numbers but helping shape the company’s strategic direction. “It’s not just about getting the numbers right,” Swenson explains, “it’s about making sure those numbers mean something for the business.”
“Embrace the trials of the journey to become a CFO as building blocks of wisdom and the ability to persevere. Consider that challenges work for you and failures allowed you to adapt. Don’t be selfish with that learning and share openly so that others can appreciate what it takes to be a well rounded, strategic finance leader.” —Erik Swenson, CFO, IDT
Made Possible By
CFOTL: Tell us about IDT—what does the company do, and what are its offerings today?
Erik Swenson: Integrated DNA Technologies, or IDT, is a genomics pioneer. That’s the simplest way to describe what we do. The company was founded more than 35 years ago by Dr. Joseph Walder, a scientist with a deep commitment to both innovation and philanthropy—values that remain ingrained in our culture today.
IDT’s origins trace back to Dr. Walder’s early discoveries in plasmid technology, which led to breakthroughs in oligonucleotide synthesis. Oligonucleotides—short fragments of DNA or RNA—are fundamental to genetic research, diagnostics, and therapeutics. Recognizing the potential of this technology, Dr. Walder set up shop in Iowa, starting what would become a global enterprise.
Read MoreSince those early days, IDT has remained at the forefront of genomics, continuously innovating in a fast-moving industry. Our DNA synthesis technology was initially used to support research aimed at mapping the human genome—the vast, three-billion-base-pair code that defines all of us. This work helped identify genetic targets and protein expressions linked to traits, diseases, and biological processes.
But Dr. Walder had an even bigger vision. He foresaw a future in which genomics would extend beyond basic research into applied fields such as diagnostics and therapeutics. Today, IDT plays a key role in enabling these advancements. Our products and solutions support research across various domains—not just human genetics but also agricultural science, microbiology, and more.
One of the most exciting frontiers in genomics is personalized medicine. In the past, cancer treatments like chemotherapy and radiation therapy were broadly applied, affecting both healthy and cancerous cells. But as we gain a deeper understanding of genetic markers, we’re moving toward precision medicine—tailored treatments based on an individual’s genetic profile. For example, CRISPR-based gene editing, recently approved by the FDA for treating sickle cell disease, allows for the targeted modification of defective genes, offering potential curative therapies.
While the field is still in its early stages, IDT remains committed to advancing genomics-driven healthcare. We have expanded significantly, with manufacturing sites in the U.S., Asia, and Europe, and we continue working alongside academic researchers and corporate partners to drive innovation. Our mission is to push the boundaries of genomics, enabling breakthroughs that improve human health and scientific discovery. It’s an incredibly inspiring journey to be a part of.
Integrated DNA Technologies | www.idtdna.com | Coralville, IA