Miscellaneous

What should I do in my first 60 days as CFO?

What should I do in my first 60 days as CFO?

The first 60 days at a new company can make or break the tenure of an incoming CFO. Here are some tips for tackling the priorities. When stepping into the CFO chair at a new organization, some say that within the first few weeks you should: 1) Gain a clear picture of the business’s operations first, then meet with other senior executives.

How does the hiring process work for a CFO?

How it pans out depends on what kind of CEO you are dealing with and why you were hired in the first place. For example, while the CEO often contributes to the CFO hiring process, he or she may not have been the final arbiter and may have to defer to the board of directors in setting expectations and an agenda for the new finance chief.

What’s the average retirement age for a CFO?

Many CFO posts at all kinds of companies will be opening up in the next few years. The reason is generational mathematics. A 2016 study by Spencer Stuart found that the average retirement age for a Fortune 500 CFO was a shade over 58.

Can a CFO come into an organization cold?

Given these dovetailing trends, many finance departments are going to be handed to CFOs coming into an organization cold: they may know the industry, but they won’t have the organizational knowledge accumulated from climbing the ranks. And, unfortunately, a new CFO can’t expect much help during onboarding.

What’s the day in the life of a CFO?

A Day In The Life Of A CFO. Being a chief financial officer means having more than just an advanced knowledge of accounting and financial concepts. It means understanding how an entire company and its industry work so you can help that company to be profitable and competitive.

What’s the average age of a Fortune 500 CFO?

A 2016 study by Spencer Stuart found that the average retirement age for a Fortune 500 CFO was a shade over 58. An informal study of the most recent Fortune list by CFO columnist John Touey pegged the current average age of those companies’ CFOs at about 56 (give or take a few months).

Who is the best person to hire as a CFO?

A smart business/contract law attorney and a savvy financial advisor. In fact, you’d be wise to make your next hire a CFO. Onboard a CFO? Really, who can afford that?

How long has John Lafferty been a CFO?

Being a CFO doesn’t have to mean being one company’s full-time employee. John Lafferty of Naperville, Ill., has been a full-time interim CFO since 1996. Before starting his own firm, he gained more than 30 years of experience as an auditor, controller, treasurer, CFO, and COO for companies in a wide range of industries.