"Boards have no process for developing or identifying the next generation of CFOs,"
"CEO succession has infrastructure: committees, multiyear development programs, and succession scorecards. CFO succession is reactive. Most boards wait until retirement is announced, then scramble."
"That's colliding with a bigger problem: boards are discovering their internal CFO pipelines are completely empty."
"The boards calling us now need CFOs who can lead technology transformation, manage geopolitical supply chain complexity, defend against activists, and navigate volatile capital markets,"
Record CFO turnover is exposing a widespread lack of CFO succession planning and empty internal pipelines. Boards frequently lack formal processes to develop or identify next-generation CFOs, leaving CFO succession reactive rather than proactive. Historically, finance leadership development emphasized controller backgrounds, deep accounting expertise, audit committee relationships, and FP&A rigor, producing few candidates with experience leading technology transformation or managing geopolitical supply chains. Boards now seek CFOs capable of overseeing technology and cloud adoption, addressing supply-chain and activist investor challenges, and navigating volatile capital markets. Finance leaders are increasingly strategic, and CFO roles will continue evolving with advanced AI and cloud adoption.
Read at Fortune
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