Thoughts on what is influencing financial officers’ performance and recruitment: The Five Areas that impact the work and leadership of Corporate Controllers.
As we prepare to talk with clients about a search, we often update our understanding of the issues that are facing that role by speaking with functional leaders across industries. While it helps to have sat in the chair (as a CFO), the market changes, and the demands and issues that arise, continue to move and evolve. Recently, when preparing for a Corporate Controller search, we reached out to ten Corporate Controllers in a variety of public companies to find out what was on their list as they prepared for 2017. We hope you will read the findings and share your reactions with us. Please email us at firstname.lastname@example.org or call me directly at 646-783-1435
What is different about retailers that may hinder the development of great talent and forces companies to look outside for CFOs and what is changing. We have done our fair share of work in the retail, restaurant, leisure and other multi-unit organizations. One thing we hear often is a cry about the lack of talent and the lack of depth in the retail and restaurant sectors. In this third white paper, we are taking a look at the CFO role in the retail sector; specifically what is it about the sector that has made it difficult to grow their finance talent and why there has been only one actual exporter of CFO talent in retail over the last 15 years. We invite you to read our research and welcome your comments on the research.
We are students of financial officers and are curious as to how great talent is developed. Our latest white paper is about the work at Academy Companies and why they continually produce more finance talent than other larger Fortune 50 companies. GE, Honeywell, PepsiCo and GM all develop finance talent that is in demand across different industries. These four companies alumni currently hold more than 125 public CFO roles for companies with revenues greater than $1BN.
As Boards of Directors look at CEO succession planning many of them want their CFOs to be part of the process. This means either grooming the incumbent or going outside to recruit a candidate who can be a successful CFO but who can also compete for the top job. These requests led us to conduct research within the Fortune 500 to better understand theCurrently, there are 60 CEOs in the Fortune 500 who were previously CFOs of their companies. We have spoken to over a dozen companies (CEOs, CFOs, HROs and Board Members) in compiling data and gaining an understanding of what a CFO needs to do in order to become CEO; we also studied how he or she then reacted to the new role.backgrounds and the competencies of these leaders who effectively made the switch from CFO to CEO.The headline is that it is possible to recruit a CFO to compete for the top spot but the odds are against that individual. Most of the CEOs who made the transitions were veterans of their companies long before becoming CFO and then spent time either as COO or in a field role before becoming CEO. We invite you to read our research and welcome your comments on the research both – positive & negative.
How says you can't go home again!
We were given a great audience today to share our thoughts on the market point of view around CFO capabilities in terms of professional experiences, personal competencies and functional skills. We were invited by the CFO & Treasurer of PepsiCo to share our thoughts about these areas to the top 200 financial officers from around the world at PepsiCo.
I was invited by PepsiCo to speak to the top 200 financial officers of the company about what the market wanted in a CFO.