CFOs (chief financial officers) possess a skill set which can significantly benefit a company when applied on a large scale, rather than their department alone. Their experience examining company financials on a detailed and macroscopic level will aid them in assessing the costs of adopting new technologies or hiring more employees. They not only help a firm stay within budget consistently but can bring solid judgment to calculated risks, which may lead to future company growth. These insights help position them to move up to become chief executive officers (CEOs).
That said, CFOs who want a CEO role must develop new skills specific to their desired position. Their ability to spot opportunities for cost savings, for example, should contribute to a wider vision beyond just numbers. To help them share that vision, they must hone their people skills in order to interact productively with leadership from other company departments. Knowing how to measure success and explain it in terms understandable by employees without financial knowledge will contribute to a focused mission, so that everyone working under a CFO-turned-CEO knows how to reframe their daily responsibilities to reach those goals.
