CFO

Spencer Stuart has spent the last five years analyzing the backgrounds and demographics of CFOs in FTSE 350 companies. Through their detailed knowledge of CFO career paths they offer a unique insight into CFO hiring trends.

Russell Reynolds Associates’ research finds characteristics possessed by leaders in various industries. This edition of the report uncovers the leadership and behavioral attributes of the CFO. The findings were found through comparisons of CEOs and CFOs.

It is widely believed that an organization’s CFO is the natural successor for a departing CEO. Their role as CFO has allowed them to interact with compliance, human resources, administration, risk management and information technology side of the organization.

A report from Spencer Stuart finds that all the growth in China has been a challenge for chief financial officers, who have the reasonability of evaluating business opportunities.  The challenge for the CFO arises especially when deciding which opportunity to pursue when it comes to the digital experience. Consumers have high expectations with respect to accessibility and speed. This requires companies to reach consumers through various channels because if one company fails to respond to consumer demand another company will step in and seize the opportunity.

The CFO function has long been considered a healthy talent pool for potential CEOs, but a recent study by Korn Ferry reveals that in Forbes 2000 companies, only 13% of CEOs were previously CFOs. The reason is the skillset that served them well as CFOs does not carry the same benefits when they attempt to transition to becoming a CEO. Korn Ferry finds that in order for a CFO to successfully transition into CEO they need to move beyond their technical left-brain way of thinking to a right-brain way of thinking.

The role of the Chief Financial Officer (CFO) is changing, and increasingly companies are looking for a broader set of skills and leadership abilities when appointing their CFO. This study, by Odgers Berndtson, takes a careful look at the changing role of the CFO.