During the past decade, More Malians She moved to the roles of the CEO where the situation develops to include greater strategic responsibilities and leadership. This trend reflects the increasing demand for executives who can move in economic fluctuations with financial discipline.
In the first half of 2024, 7.1 % of CEO In Fortune 500 and S&P 500 companies came from the role of financial manager, up from 5.3 % in 2013.
But while many Fortune 500 executives have financing backgrounds, the transition is not always smooth because the financial manager’s skills set is not always in line with leadership, vision and tolerance with the risks required to be the effective CEO.
“Historically, financial managers are relied upon to be black and white and numbers, while the CEO is the one who must move through gray,” says Jeff Herzog, head of the FPC National Executive Employment Company. Successful executives are able to prosper in mystery-the ability that often comes naturally with those who have wide multifunctional experience instead of narrow financial focus.
Hardic Seth, who leads the BCG Center for Excellence in North America Financial Manager, warns that financial discipline of the financial manager can become a responsibility in the role of the CEO. Excessive dependence on numbers and quantitative thinking can create blind spots in areas such as vision, talent and company culture.
Joanna Stark, the chief commercial official in the RHR International Command Consulting, repeat this anxiety, noting that many financial managers assume they are ready for the highest role just because they worked closely with the CEO.
“I have seen many financial managers exaggerate their willingness,” said Starek. “They are sitting near the CEO to the point that they feel that they know what they need to do to lead the company’s success, but they have not necessarily affected the burden of growth.”
Watching and learning from the CEO is not enough. Those who successfully move from the heads of the Malians to the Zawiya office have already taken the strategy, P&L management, and operational responsibilities with the sharpening of strong personal skills. The financial manager who fails to grow a good work background and effective communication skills often struggle early in their career to expand their experiences retroactively.
Cathy Patello, the administrative partner in Bouiden, emphasizes that the soft skills – such as being a pacifier listener and an attractive figure – is among the most important features of the financial manager who flourish as executives.
“There are a lot of financial leaders who do not have this character, and you cannot go to school and learn it.”
The role of the financial manager as the cost capacity instead of the growth driver represents challenges for those who enter the position of CEO. In fact, the financial manager who turned into CEOS is, AverageSlow down to push the growth of the upper line compared to those from other backgrounds. Research conducted by Spencer Stewart found that only 8 % of the financial manager who has turned into CEOS leads its companies to its quadruple performance, while the executives “LeapFrog”-who are promoted from two or more levels to the bottom-have executive heads in the department have higher possibilities Many performance.