Stepping Out of the Confines of Finance

The upheaval in the world of corporate finance brought on by the global financial crisis is transforming the role of the CFO, who is assuming bigger responsibilities to deal with the changes taking place inside and outside of companies. Based on a series of panel discussions held with the heads of finance from large global corporations representing various industries, the authors identify the new profiles and functions that are emerging for the new breed of CFO. No longer confined to CAPEX decisions, CFOs are becoming highly sought after for their advice on areas not traditionally considered to be part of their job description, including investor relations and building confidence with employees and other stakeholders. Having enlarged their remit, CFOs are the ones whom others go to for answers and guidance on matters beyond financial concerns. This article lists the greater competencies needed for CFOs to meet the new demands being placed on them.