智识与洞见 | 财务高管

Here's what four CEOs have to say about transitioning from CFO to CEO.

Here's what four CEOs have to say about transitioning from CFO to CEO.

Brandon Sink, CFO of Lowe's, values the interactions he has with employees across all levels of the company. His extensive career in home improvement began with Deloitte, where he first served as Lowe's external auditor. He later joined Lowe's as the Director of Corporate Accounting and eventually took on the role of Vice President and Corporate Controller. Brandon and I sat down for a conversation about his journey to CFO, what he's learned along the way and how he builds and mentors the finance team. He shares practical advice for balancing a demanding job with his family and offers guidance for aspiring CFOs.

Our insights with Israeli firms show three key areas for startup success: IPO-ready board, global executive attraction, and culture for expansion.

An assertive hiring process doesn’t happen overnight, and it’s crucial to analyze where the organization currently stands, where it wants to go, and how the CFO fits into this puzzle. When hiring for this position, considering potential is just as important as technical skills.

An assertive hiring process doesn’t happen overnight, and it’s crucial to analyze where the organization currently stands, where it wants to go, and how the CFO fits into this puzzle. When hiring for this position, considering potential is just as important as technical skills.

As private equity firms look to maximize value from their investments, it is critical to ensure that portfolio company management teams have the right capabilities to execute against their investment theses. Though in many cases the underlying premise will lie in backing an existing management team, it is increasingly common for private equity firms to bring in a new CFO early in the lifespan of an investment.

The days when the main function of Audit Committees was to put a “stamp of approval” on companies’ financials are long gone. Heightened risk awareness and increased regulation means that Audit Committees must now take on a much more proactive role in detecting, understanding and acting on risk – be it financial, macroeconomic, regulatory, legal or cybersecurity-related.

Within the executive committee, there is no relationship more important than that between the chief executive officer and the chief financial officer. Because of this, when hiring a CFO, particular attention must be paid to the fit between the candidate and the chief executive. In our experience working with boards and CEOs making CFO appointments, strong CEO-CFO relationships exhibit three qualities.

Over the past 15 years, the role of chief financial officer has evolved considerably. While the CFO may still carry the original mandate of master technician and “accountant-in-chief ”—and must do so under heightened regulatory and investor scrutiny—that is only a fraction of what the role entails today.

A strong relationship between a public company’s chief financial officer and its audit committee is critical if the board is to provide appropriate risk management and compliance oversight.

As the role of the CFO has grown exponentially more complex, so has the challenge of developing a steady supply of talent and an eventual successor.