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Chief Financial Officers: under greater pressure to perform CFO World
With uncertainty casting a long shadow over the world's financial system, pressures on CFOs are growing, reports Peter Bartram in CFO World commenting on the recent World Economic Forum in Davos. According to Cagla Bekbolet, global leader of the financial officers practice at Egon Zehnder International, these pressures can be split into two groups: re-financing and business development.“There's only so much you can do on the cost side to deliver growth so businesses also want CFOs to look at ways to develop their revenue stream. The CFO is very much a partner for CEOs in this - above and beyond providing data and insight to inform planning,” Bekbolet explains. In her view, firms are currently looking for CFOs with strategic skills as well as an eye for detail. "In general, companies are looking for CFOs who are good under pressure - steady performers with lots of experience, notably in tough times. That counts for much more in this climate than having strong potential," Bekbolet concludes.
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