Chief financial officers or CFOs have multifaceted duties that include handling cash flow, budget, accounting, forecasting, taxes, and compliance issues. In 2023, 24 percent of S&P CFOs became chief executive officers or CEOs. CFO responsibilities underpin the company's broader strategy, from ordering supplies and raw materials to human resources and allocation of the budget toward market expansion.
Future-focused, the CFO maintains a firm understanding of the people in the organization. They convey information related to financial decisions to the CEO and board members, designed to deliver optimal results at minimal expense, with such a pivotal role in defining corporate success.
CFOs who successfully transition to CEO must have the ability to work closely with diverse board members. They match problem-solving skills with the ability to clearly articulate a vision and gain buy-in from various organizational constituents. These traits, coupled with exhaustive knowledge of the company’s financial structure, present a well-rounded value proposition: a leader able to steer the corporation through various situations requiring financial and interpersonal acumen.
