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Skip to main content CONTINUE TO SITE ➞ DON’T MISS TOMORROW’S CFO.COM INDUSTRY NEWS Let CFO.com’s free newsletter keep you informed, straight from your inbox. By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. * Opinion * Library * Events * Press Releases * Topics Sign up * Search * Sign up Search * Corporate Finance * Human Capital * People * Regulation & Compliance * Risk * Strategy * Tax * Technology * Series An article from ARE CFOS MORE VALUABLE TO COMPANIES THAN CEOS? Investors prioritize companies where the finance chief is the main growth driver, a new study suggests. Published Oct. 29, 2024 David McCann Contributing Editor * post * share * post * print * email * license sanjeri via Getty Images It’s been at least a generation since CFOs began evolving beyond their historical persona as “bean counters” into the key strategists they are today. In fact, judging from the results of a broad new study, finance chiefs may even be more important to companies than CEOs. The growth path of the CFO profession has accelerated over the past decade of “unprecedented global risk, economic volatility and a surge in digitalization,” said the study’s sponsor, OneStream, a provider of a unified finance and operations management platform. Recent events, such as the COVID-19 pandemic, “have really seen [CFOs] step into the spotlight,” OneStream wrote in its report on the survey, which included 1,000 CFOs, 250 CEOs, 250 line-of-business leaders and 500 investors with assets of at least $10 billion. “Businesses are increasingly relying on finance leaders to steer them through uncertainty and ensure resilience.” Most (67%) of the CEOs themselves said they believed an organization’s success or failure rests on the shoulders of the CFO. Investors identified the competence of the CFO as a company’s second-most-important attribute, behind only its market expansion opportunity. The competence of the CEO was only seventh on investors’ wish list. Four out of five investors said that for them to invest in a company, they must be confident that the CFO is an ambitious driver of corporate growth. When that criterion is met, investors indicated that on average they increase their initial investment in the company by 2.6%. Among the world’s largest asset managers, with more than $50 billion in assets, the premium was 3.6%. That expectation among investors lines up with the expectations of CEOs and line-of-business managers, of whom 69% and 78%, respectively, said they expect the CFO to be an ambitious growth driver. About nine in 10 investors (88%) as well as 65% of the surveyed executives agreed the CFO role will be even more important to business success over the next 10 years. “With persistent economic uncertainties and an evolving regulatory environment, CFOs already feel pressure to steer the business toward growth,” said OneStream CEO Tom Shea. Four-fifths (80%) of investors said they’re usually aligned with CFOs on what the business should prioritize. Keep up with the story. Subscribe to the CFO.com free daily newsletter Email: * Select user consent: By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. Sign up A valid email address is required. Please select at least one newsletter. Unfortunately, 69% of CFOs reported they’re struggling to drive organizational strategy and growth due to an ever-expanding charter. Indeed, 70% of the surveyed executives said CFOs today are expected to be “masters of everything” who understand all of the company’s risks and opportunities. Investors agreed. In fact, 79% of them said CFOs generally are too busy with operational duties to fully focus on the strategic elements of the finance function that attract investors. The top attributes CEOs look for their finance chiefs to possess are capital allocation skills, financial acumen and integrity and transparency. Line-of-business leaders additionally prioritize the latter, as well as risk management expertise, data analysis, and leadership/team management * * * * * * purchase licensing rights Filed Under: Corporate Finance SUBSCRIBE TO THE BALANCE Get the free daily newsletter with financial industry insights and practical advice for CFOs. Email: * Select user consent: By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. Sign up A valid email address is required. Please select at least one newsletter. EDITORS’ PICK * Misha Shutkevych via Getty Images Tracker CFO ANNUAL CONFERENCES AND EVENTS TRACKER CFO’s annual conference and events calendar tracker ensures finance executives know about the most essential in-person events. By CFO Editorial Team • Updated Sept. 4, 2024 SUBSCRIBE TO THE BALANCE Get the free daily newsletter with financial industry insights and practical advice for CFOs. Email: * Select user consent: By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. Sign up A valid email address is required. Please select at least one newsletter. MOST POPULAR 1. 5 takeaways from the Finance & Accounting Tech Expo’s inaugural showcase 2. Are CFOs more valuable to companies than CEOs? 3. CFOs lukewarm on reaching climate targets 4. Intuit’s TurboTax ad pull fuels tension within accounting culture LIBRARY RESOURCES * Playbook 3 Ways Trade Credit Insurance Empowers CFOs in New Markets Custom content for Allianz Trade * Playbook How To Adopt a Proactive Approach to Risk During Expansion Custom content for Allianz Trade * Webinar - on demand Mastering Cash Flow in Construction: Overcoming Challenges to Ensure Financial Stability Custom content for Payapps View all COMPANY ANNOUNCEMENTS * Basware’s New GenAI Tool Transforms Insights for CFOs From Basware * BILL360 Introduces Enhancements to its AR Automation Platform for Accountants and their B2B SM… From Bill360 View all | Post a press release EVENTS * 11 NOV Webinar | 11 a.m. ET How CFOs Can Reduce Software Spend With Price Intelligence Presented by studioID and Ramp * 19 NOV Webinar | noon ET Why CIO-CFO Collaboration is Key to Cloud Success Presented by studioID and Avalara * 21 NOV Virtual Event | 10 a.m. ET Debunking Common Myths About Operational Resilience Presented by ARIS View all | Promote an event INDUSTRY INTEL * Debunking Common Myths About Operational Resilience Webinar • Provided by ARIS SUBSCRIBE TO THE BALANCE Get the free daily newsletter with financial industry insights and practical advice for CFOs. Email: * Select user consent: By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. Sign up A valid email address is required. Please select at least one newsletter. COMPANY ANNOUNCEMENTS View all | Post a press release Basware’s New GenAI Tool Transforms Insights for CFOs From Basware October 29, 2024 BILL360 Introduces Enhancements to its AR Automation Platform for Accountants and their B2B SM… From Bill360 October 21, 2024 Want to share a company announcement with your peers? Get started ➔ Read next * Misha Shutkevych via Getty Images Tracker CFO ANNUAL CONFERENCES AND EVENTS TRACKER CFO’s annual conference and events calendar tracker ensures finance executives know about the most essential in-person events. By CFO Editorial Team • Updated Sept. 4, 2024 Latest in Corporate Finance * Are CFOs more valuable to companies than CEOs? By David McCann * Alphabet CFO Anat Ashkenazi’s first earnings call comes amid antitrust case and AI competition: Trial Balance By Lauren Muskett and Adam Zaki * Both Harris and Trump would pose risks for business: report By David McCann -------------------------------------------------------------------------------- * * * * EXPLORE * About * Editorial Team * Contact Us * Newsletter * Purchase Licensing Rights * Press Releases * CFO Magazine REACH OUR AUDIENCE * Advertising * Post a press release * Submit an opinion piece * Promote an event -------------------------------------------------------------------------------- image/svg+xml Industry Dive is an Informa business © 2024 Industry Dive. All rights reserved. | View our other publications | Privacy policy | Terms of use | Take down policy. 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