The New Requirements of Retail CFOs
Apr 13, 2023 – by Kyle Rudy
Chief Financial Officers are in demand. In the last year, hiring data shows that more than 100 fashion and retail companies have appointed new executives to the role of top finance chief, and they’ve expanded their scope in the process. This evolution derives from challenging macro factors - industry consolidation, global economic instability and hyper-charged eCommerce expectations have significantly increased pressure on consumer commerce companies across all categories.
In this environment, CEOs are looking to their CFO counterparts for more than financial management and margin growth. CFOs today are expected to provide thought partnership and aid in strategic planning across all facets of business, including identifying growth opportunities and making investment bets on emerging technologies. In terms of soft skills, the role now requires more agility, collaboration and the ability to create clarity from complexity.
Our Senior Partner, Kyle Rudy, spoke to BoF regarding the new requirements of retail CFOs based on proprietary executive search data. He explained, “CFOs need to help companies navigate this incredibly volatile, uncertain macro environment while also making strategic investments in data, technology, e-commerce, stores and supply chain logistics. They’re being asked to deliver quick wins as well as long-term strategies.” He added that these expectations require a broader, more strategic leadership acumen beyond the traditional financial silos. Read the full article here: How CFOs Became One of Fashion's Most In Demand Roles (paywalled)