Strategy and innovation

What differentiates a good chief financial officer from an outstanding one? Their succession plan

The Chief Financial Officer feels the solitude of the goalkeeper before the penalty, as was said in the popular novel by Peter Handke The growing complexity of the role means it is now more necessary than ever to weave a professional network to support the Financial Director in their difficult mission.

It's not easy to be a CFO. This function is becoming ever more complex and increasingly visible. As was explained at a CFO conference a few days ago: “every day we are given something new to do”.

The CFO and the CIO are called upon not only to collaborate but also to integrate their roles by bringing them closer together through a new, collegial and business-centric relationship. How can we make this collaboration more efficient and fruitful?

Companies have a new mission: saving the world. Environmental, social and governance (ESG) criteria are transforming business models and the way organisations are managed. It is a cross-cutting change that has a full impact on the finance function, which in Spain is currently facing the challenge of adapting to the new EU taxonomy in the coming years.

"Hello, I'm the new CISO", "we are looking for a CXO with five years' experience". These acronyms will soon start sounding more and more familiar and will be commonly used within companies. In this article, we explain job titles for the most senior company roles.

This is no longer transitory inflation. We are unable to moderate it but can adapt it to our business model and draft contingency plans with mixed strategies, even by creating an inflation management office led by the CFO.

Like a Swiss army knife, because of the multiplicity of functions, or like a Swiss watchmaker, because of their ability to understand the complex mechanism of the company and to make all the gears work in perfect unison.

The companies in charge of selecting a CFO are clear: He must be highly technically qualified; however, his long-term vision and ability to communicate both within the organisation and towards stakeholders must be analysed.

Technology, data management and investing in communication inside and outside the organisation are the main challenges faced by the figure of the CFO and the areas they need to focus on most.

In this case, Xavier Morales, Chief Financial Officer of Rotecna, answers the question about what the relationship between the financial department and the rest of the organisation is like.

In this case, Xavier Morales, chief fnancial officer at Rotecna, answers the question about how the finance department is evolving.

Domingo González, CFO at Insur, answers the question about how digitalisation has affected working methods.

Domingo González, CFO at Insur, answers the question about the role and responsibilities of the CFO and what the medium term will bring.

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Experts from some of the most important companies in Spain will analyse the evolution of the financial function in Spain and the challenges and opportunities of CFOs and their teams.

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