BOARDS ARE HUNGRY FOR CFO TALENT, BUT ARE YOU READY?
The appetite of shareholders for CFOs to serve on their corporate boards is big and getting bigger. Companies want executive and non-executive leaders who can provide comfort and confidence in an uncertain world. The CFOs unique combination of analytical, technical and strategic capabilities means that they are arguable best placed to provide it. Regulatory pressure has also increased demand for financial expertise. CFO’s are therefore sometimes better placed than CEO’s to fulfilling board roles, because CEO’s are less accustomed to taking the analytical, challenging approach towards board decision makers.
“The language of boards is the language of finance and value. It should be a very easy environment to a CFO to fit into”, is an argument that does not always hold. Finance skills alone do not necessarily make someone a good board director, but financial expertise is desperately needed. To become a good director with impact, the CFO must develop some additional skills than the ones he needs to be a superb CFO. Furthermore, the CFO needs to become highly efficient, as a lack of time is a major constraint to take non-executive positions.
For many CFOs, the demands of their core responsibilities are simply too much and the risk to overstretch is significant.
When you are engaged as a CFO in a board, the audit committee role shows up first, but you don’t want to be pigeonholed as a CFO. Your experience and inspiration is much vaster than that and we help you to use it in your role as board member.
ABOUT THE FACULTY
MARCIA DE WACHTER
Marcia De Wachter was the first woman to obtain a PhD in economics at the University of Antwerp. She served in several positions at the National Bank of Belgium where she was the first woman to become Vice Governor in its 168 year history. She is founding member of the international Women’s Forum for Economy and Society. Marcia is INSEAD and IPSIS Institute certified business and leadership coach.
CFO Ackermans & Van Haren and boardmember at several companies
Past CFO and Boardmember at Exki, Willemen Groep, AZ Maria Middelares, Securex
JOHAN DE LILLE
CFO BMT Group and boardmember Materialise
Past CFO and Boardmember at Biocartis, Metalum Holding, Ledsky