News & Insights

From Financial Steward to Strategic Powerhouse

The role of the Chief Financial Officer (CFO) has transformed significantly. CFOs are no longer limited to traditional financial stewardship; instead, they have become central figures in driving strategic growth and innovation within organizations.

Historically, CFOs were primarily responsible for financial reporting and risk management. Today, they play a critical role in strategic decision-making. According to Gartner, CFOs are increasingly expected to align their organization's cost structure with unique capabilities and to act as executive champions in enterprise-wide data and analytics governance.

This shift is further illustrated by the rising number of CFOs transitioning into CEO roles. A 2023 survey by Heidrick & Struggles revealed that nearly one-third of FTSE 100 CEOs were former CFOs, an increase from 21% in 2019.