CFO Hiring: The Big Gap in Corporate Planning

Companies are racing to fill CFO roles, but most boards lack a ready list of candidates. The problem isn’t just how many positions are open; it’s that the usual internal pipeline is empty. In 2015, finance teams focused on classic skills like accounting and audit. Today’s CFOs must steer tech upgrades, manage global supply chains, fight activist investors, and handle shaky markets—skills that rarely appear on old career tracks. Because of this mismatch, firms are turning outward for talent. Recruiting a CFO used to take four or five months, but now the search can stretch to nine weeks. The few executives who fit the modern profile are in high demand, pushing salaries beyond initial budgets and forcing boards to lower their standards mid‑process.Boards also lag in succession planning. While CEO development has committees, long‑term plans, and performance dashboards, CFO preparation is often reactive. A board may only start looking when a retirement is announced, leaving little time to groom the next leader. This scramble risks losing strategic direction and financial stability. The role of CFO is evolving beyond pure numbers. Leaders now need to drive digital transformation and use advanced AI tools, making finance a key strategic partner rather than just a support function. Boards must treat CFO succession as a core decision, not an afterthought.