33% of FTSE 100 CEOs have previously served as CFOs. This marks an increase of 21% compared to 2019. Here’s why this trend is on the rise. Additionally, consider this intriguing data point: Among the 674 Fortune 500 and S&P 500 companies, 8.4% of vacant CEO positions were filled by CFOs in 2023—the highest percentage recorded since 2013. In my opinion, there are several compelling reasons why CFOs often transition into CEO roles:
However, research from Spencer Stuart suggests that CEOs promoted from the CFO role may not drive top-line revenue growth as swiftly as those from other backgrounds, especially in the initial years. The reason is mindset. CFOs who possess a mindset geared towards preserving the status quo may find it challenging to shift towards a growth-oriented mindset needed to pave the way for a more ambitious future for their companies. Your view? By the way, I've just uploaded it on YouTube my conversation with Ravi Venkatesan, CEO of Cantaloupe. Ravi demonstrates the importance of consciousness in leadership. I can guarantee this is not a common conversation you have with a CEO! Watch it here Get the next issue on ThursdayOne idea a week on how top CEOs lead when the stakes are high, from inside rooms most people never enter. Free, and you can leave any time. Latest issuesYour company will only change as much as you do 26806160-38596 Your company will only change as much as you do 26806160-82af7 Your company will only change as much as you do 26806160-310e6 |