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The new CFO: In high demand with high responsibility

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Versatile CFOs

In the news

•

CFO compensation climbs. CEO and CFO pay typically move in tandem, but in recent years, CFOs have received higher increases, according to Fortune. CFOs are in high demand, and organizations are eager to attract and retain quality talent in an uncertain and evolving environment. Despite the current desire for good finance chiefs, CFO pay bumps may only be temporary. They could trend back down as companies learn to navigate the current labor market. [Fortune]

•

Trimming costs. Bloomberg Intelligence found that second-quarter net income at the biggest US companies increased by 9.1% year on year. This number, while impressive, hides a substantial divide between different ranks of S&P 500 companies. A group of cash-rich tech companies reported a whopping net income growth of 29.1% over the last quarter, while most companies sported humbler, single-digit growth rates. Given this environment, many CFOs are reducing expenses and cautiously monitoring economic trends. [Bloomberg]

Two-thirds of the new CFOs at S&P 500 companies and more than half of those in Europe were first-time finance leaders—a record high.

On McKinsey.com

•

Tumultuous turnover. Decade-high CFO turnover has left organizations scrambling to fill the evolving CFO role. McKinsey senior partner Andy West and coauthors share how the CFO role has expanded far beyond traditional expertise in budgeting, planning, and risk management. To inspire the next wave of CFO candidates, West and colleagues disclose their own research and reveal advice from eight former CFOs on what matters most today to secure the role and how to succeed at every stage of the CFO life cycle.

•

The evolving CFO. Today’s all-encompassing CFO role requires candidates to wear many hats: CEO confidant, performance challenger, innovation champion, leader of major investments and transactions, and more. This complex job description can be understandably daunting to candidates, but CFO hopefuls who embrace five priorities may become well-qualified candidates for the role.

Become CFO-ready

—Edited by Jordyn Libow, editor, Atlanta

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by "Only McKinsey" <publishing@email.mckinsey.com> - 01:36 - 8 Aug 2024

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The new CFO: In high demand with high responsibility

Versatile CFOs

In the news

Two-thirds of the new CFOs at S&P 500 companies and more than half of those in Europe were first-time finance leaders—a record high.

On McKinsey.com

Archives

in

info@learn.odoo.com

Arett Sales Open House 2024

New Relic digital experience monitoring—for exceptional user experiences

The new CFO: In high demand with high responsibility

Versatile CFOs﻿

In the news

Two-thirds of the new CFOs at S&P 500 companies and more than half of those in Europe were first-time finance leaders—a record high.﻿

On McKinsey.com

Versatile CFOs

Two-thirds of the new CFOs at S&P 500 companies and more than half of those in Europe were first-time finance leaders—a record high.