Managing transitions:CFO regrets
By Dr. Ajit Kambil
on historical averages, nearly one inve CFOs in the Fortune 1000 may changethis year.
In our study—
Taking the reins: Managing CFO transitions
—we ound CFOshad to manage three key resources to success-ully navigate through their rst year:•
—Both their own and their sta’s•
—Having the right people toexecute initiatives•
—Both internal and externalto the company When we asked CFOs who had navigateda transition beyond one year, “What onething would you have done dierently?”, weound two key considerations. First, mostCFOs wished they had moved aster to get theright talent in place. Secondly, some CFOswished they had conducted better culturaldue diligence.
Get the right talent in place
During our interviews, CFOs indicated thatrecruiting and aligning talent to priorities isone o the most important tasks—sometimes
most important task—they ace in the rst180 days on the job. Ultimately, it’s the talentin the nance organization that executes theCFO’s agenda—either successully or unsuc-cessully. Tus, new CFOs have to quickly assess talent, recruit new “A” players to llkey gaps, and re-recruit the current team totheir agenda.Assessment ofen takes the orm o directconversations and observations. Te CFO atone company got a quick read on his directreports and other sta by asking pointed