Recently McKinsey announced the survey results concerning the first 100 days of new CFOs. According to available data McKinsey considered 164 responses from a representative sample of CFOs. The article that contains the findings displays participants’ views about their first hundred days as CFO.
- CFO may not be spending their time where it’s most needed during the first hundred days.
- Many CFOs said they received guidance and mentorship from the CEO, who generally wants the CFO to be a full partner in the leadership team and a contributor to company strategy.
- CFOs also told that they communicate with the core finance team and finance staff primarily in person.
- Planning, budgeting, management reporting and analysis have been described as major activities.
- Opposite to this CFOs would prefer to spend their time on corporate wide strategic initiatives
One can read and/or download this article for “CFO’s first hundred days” as pdf-file here. The site does not require an login.