Battle for CFO talent isn’t slowing with the economy, headhunter says

Good morning

The job of the CFO has changed a lot in recent years. As keepers of metrics, they have had to adapt to an explosion of data and data analysis, as well as a proliferation of targets measuring environmental, social and financial outcomes. That was the subject of a lively dinner conversation, which was picked up last night in Chicago by the Fortune CFO Collaborative, in partnership with Workday and Deloitte. Most of the discussion was off-the-record. But Clem Johnson, president of search firm Crist/Kolder, made some opening remarks to stimulate the conversation. Some excerpts:

Whether the battle for financial talent will continue even as the economy slows:

“I certainly think we’ll be able to live with the pace of demand that we’ve seen for at least the next five years… The increasing sophistication, complexity and breadth of the CFO role need not tell this group how incredibly demanding the role has become. “

For background, who had to be CFO:

“Approximately 51% of acting CFOs have MBAs, while only 37% have CPAs… It’s certainly a sea change.”

About CFOs increasingly overseeing the technology function:

“I don’t have any stats on that, but I’d say at least 50% of them do.”

Separately, two new reports released today show that Latinos are rapidly increasing in their importance in the US economy, but not in their influence in boardrooms. The US Latino GDP Report, published by the Latino Donor Collaborative and Wells Fargo, calculates that the total economic output of US Latinos was $2.8 trillion in 2020 – slightly more than the UK’s GDP and up dramatically from 1, $7 trillion in 2010.

However, according to a study by the Latino Corporate Directors Association, Latinos remain drastically underrepresented on corporate boardrooms, with just 1% of board seats in Fortune 500 companies.

More news below. And if you’re wondering when the stock market will bottom, check out Lucy Brewster’s article on why it might do so twice.

Alan Murray
@alansmurray

[email protected]

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This edition of CEO Daily was edited by David Meyer.

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