Looking at the 6 types of CFOs and their roles can help you think about finding a leader who aligns with your business strategy.
“A strategic CFO is expected to not only master financial management, but also contribute to the company’s long-term value creation and the evolution of its business plan.”
Peter Krenander
Managing Partner
Sweden
Matching CFO Archetypes to Organizational Needs
The critical nature of CFO fit for organizational success cannot be overstated.
As Pattillo notes: “A brilliant public company CFO may struggle in a turnaround situation. A successful private company CFO may lack the skills needed in a PE-backed growth environment.”
Organizations must thoughtfully match the CFO archetype to their strategic context, current challenges, and future aspirations.
“The digital transformation that so many companies are experiencing adds another factor in assessing CFO candidates,” Krenander says. “A strategic CFO is expected to not only master financial management, but also contribute to the company’s long-term value creation and the evolution of its business plan.”
“Today, that requires a fundamental understanding of the opportunities artificial intelligence (AI) can bring,” he says. “A CFO needs to grasp how AI can be applied to create growth opportunities, strengthen competitiveness, and enhance cost efficiency.”
Many companies turn to executive search firms to help them fulfill the difficult task of CFO recruiting. A firm with a comprehensive network of exceptional CFO candidates can identify leaders who bring not only the right functional expertise but also the distinctive mix of strategic capability, experience, and cultural alignment needed for success.
A CFO's success depends not just on their technical capabilities but on their ability to align with the organization's culture. Looking at the six types of CFOs helps to illustrate the point that companies need not just a great CFO, but a CFO that's a great fit for them.
For organizations seeking to discuss their financial leadership strategy, Boyden's Financial Officers Practice offers the global expertise and local insights necessary to identify, evaluate, and place the executives who will drive success in your business.
