Given the speed at which market conditions, business strategies and operational structures have changed in recent years, businesses are more aware than ever of the crucial role the chief financial officer (CFO) plays in shaping and driving a company’s strategic direction. In addition to their skills and experience, these individuals bring with them highly valuable connections that can facilitate business development, due diligence and recruitment.
BoardEx, an Altrata company, The Role of the CFO 2022 looks at the more than 1,400 CFOs who lead the major publicly traded companies across 16 countries around the world. As the role continues to evolve from being predominantly financial to one that encompasses broader strategic oversight, businesses must consider how best to recruit, retain and bring out the best in their finance leadership.
One key insight The Role of the CFO 2022 report revealed is that more than 93% of S&P 500 CFOs have overseen the acquisition of a target business, highlighting the importance of M&A experience.
Other key insights explored within The Role of the CFO 2022 are:
- Most CFOs at corporations from major indices across 16 of the world’s leading economies are male, in their early to mid-fifties and have more than 20 years of experience
- 83% of CFOs in the UK sit on the board of their company, compared to only 1% in the US – a reflection of the differences in corporate governance between countries
- IPO experience is uncommon amongst sitting CFOs: just above 10% of CFOs in the US have IPO experience, compared with under 10% in Canada, and less than 7% in the UK
- Internal appointments and external hires are evenly split among current CFOs in the US, while external hires are predominantly brought in from a different sector
Access the full report and discover more findings from The Role of the CFO 2022 here.