Getting to know…

Karen May, CFO and Director of XOCEAN

June 26, 2024

Karen is a founding member, CFO and director of ocean data collection firm XOCEAN. She was also recently crowned STEM Professional of the Year 2024 at the IMAGE PwC Businesswoman of the Year Awards. The PwC alum (Assurance 1994-1997) tells us more about her evolving role, how her time at PwC equipped her with lifelong skills, and her proudest career moments.

Tell us about XOCEAN’s transformative work and how it’s making a significant social impact

We are disrupting the ocean data market, bringing robotics and AI together to deliver high-quality data. Traditionally, large research vessels with teams on board collect this data, which involves significant fossil fuel consumption. Our uncrewed surface vessel collects the same data with one thousand times fewer emissions and no crew needed at sea.

Around 70% of our work is in the renewables sector and 100% of our work ensures sustainable ocean management.

As the company evolves, how has your role as CFO changed and what do you enjoy most?

I lead the finance and legal teams, and supply chain management. I’m also involved in strategy and operational management.

In the early days, there were only a handful of people in the company, so I was involved in everything other than technology development! I found the HR piece rewarding—handling recruitment for up to 100 people before hiring a chief people officer

I spend a lot of time fundraising and I enjoy every aspect of that. Fortunately, the company is an attractive investment, so it is about getting the optimum funding structure in place and choosing the right partners.

How did your time at PwC help you grow as a leader?

PwC was invaluable throughout my career. It is a globally recognised institution renowned for its high standards and professionalism. When I talk about my background with new funders or customers, PwC puts me in the top tier.

The firm provides structured training. It’s where I developed my accounting skills, but most importantly, my interpersonal skills. PwC teaches you how to act professional, humble and friendly in all environments.

“PwC was invaluable throughout my career. It is a globally recognised institution renowned for its high standards and professionalism. When I talk about my background with new funders or customers, PwC puts me in the top tier. ”

Karen May

What advice do you have for anyone in the early stages of their career?

The two most important traits for any high performer are quality focus and strong interpersonal skills. You spend your time in college and school learning what to do, but how you do it is equally important. Focus on delivering your best and getting the best out of others – with a smile.

Reflecting on your career so far, what makes you most proud?

I am so proud of the culture and team we built at XOCEAN. We currently employ over 200 people, working all across the globe.

The work ethic and collaboration are incredible. It’s such a pleasure to go to work every day.

Last year, we were the eight fastest-growing technology company in Ireland and we are the fastest-growing ocean clean tech company in Europe. In 2023, we also won an award for the Irish company making the biggest impact globally. That is all thanks to an amazing team of people.

What do you value most about the Alumni Network?

The Alumni Network helps me stay connected to the great colleagues and friends I worked with at PwC. It is so important to have a trusted network you can rely on for advice.

I'm an advocate for getting lots of perspectives when making significant decisions. Someone not directly involved in the business can often provide the most insightful advice.

When did you complete the Alumni Mentoring Programme and how did you find it?

I completed the programme in 2022. It was great to have a mentor to discuss my career path with. There were also a number of really useful leadership masterclasses. For example, former Managing Partner Feargal O’Rourke gave a fantastic speech and I still follow some of his recommendations today.