PM Images/Getty Images
Summary.
The role of the CFO has evolved far beyond traditional financial management. Today’s CFOs are pivotal strategic leaders, focusing on three core responsibilities: optimally allocating capital, sustaining and deepening sources of competitive advantage, and managing risk. Their expanded scope makes them natural contenders for CEO positions. In 2023, CFOs filled 8.4% of CEO vacancies at Fortune 500 and S&P 500 firms — the highest on record.