A CFO’s ability to build strong teams and develop successors is more important than ever. When CFOs of large North American companies were asked by Deloitte about the legacy they wanted to leave, they said, in overwhelming numbers, that they wanted to have had a strong influence on their company’s ability to perform well in the future and to have left things better than they found them.
Despite a trend toward internal CFO appointments, only a third of companies have succession plans in place, research shows. The corporate finance field is renowned for its discipline, but there’s one area where CFOs display what might appear to be an extraordinary degree of complacency.
Women account for 12.6% of CFO positions in leading businesses, according to analysis of C-suite volatility in more than 673 large companies, most of which are based in the United States, by executive search firm Crist | Kolder Associates. That’s nearly double the percentage from a decade ago.
Six CFOs from diverse industries reveal their top business objectives for 2018. Next year promises to be an exciting (and, possibly, very critical) year for many companies. Interest rates may finally head higher, workers may be tougher to find, valuations pricier, and consumer spending more robust. Or, as CFOs know all too well, none of that may happen.
What keeps corporate directors awake at night? Advances that could upend a successful business model, rapidly shifting global economies, and cyberattacks, to name a few.
Remote workers face unique challenges compared to on-site colleagues. A good manager — armed with the following seven skills and management practices — can ameliorate these obstacles.