Slayton Search Partners: Exploring the Past, Present, and Future of the Private Equity CFO Role
The Chief Financial Officer role in any company, especially in a middle market private equity business, is a powerful position. However, this wasn’t always the case. There has been a distinct evolution of the CFO role over the last 35 years. In order to understand the progression and prominence of the CFO function, we examined its growth and spoke with two exceptional CFO thought leaders. Here are two categories Slayton Search looks at within the article:
- Where the Private Equity CFO Role Is Today: The CFO role began in Fortune 500 companies as far back as the 1950’s, but in the 1980’s, private equity backed firms began to replace Controllers or Bookkeepers with CFOs in an effort to strategically create greater value.
- Where the Private Equity CFO Role Is Going: CFOs will be less focused on looking back and more concentrated on looking forward. With a strong Controller and/or accounting team, the CFO of the future needs to be looking ahead while using metrics to make decisions that benefit the future of the company.