In the past, CFOs mainly worked their way up as hard-nosed public accountants or controllers. But times have changed.
One of the many effects of the market’s downturn: Companies are now looking for CFOs with different skill sets.
What are these skill sets? According to top recruiters, whatever the situation dictates. More than ever, today’s companies expect CFOs to adapt to a variety of different situations with chameleon-like dexterity.
Moreover, companies are thinking outside of the box, shying away from just looking at the traditional accountant/controller candidates and looking at candidates with MBAs and/or treasury or financial analysis backgrounds.
On top of the ability to think on their feet, companies are looking for finance chiefs who understand their company’s particular niche. For example:
- Companies looking to raise capital — CFO who excels at managing balance sheets and understands capital markets.
- Companies looking to restructure — CFO with vast operations experience.
In addition, many businesses are looking for CFOs who excel at valuing assets.