Businesses are increasingly relying on finance bosses to take a broader organisational view and look not just at the numbers, but also make strategic decisions.
The insights came from CEOs speaking at the 2013 New Zealand CFO Summit on 12 March, which was attended by 275 finance industry leaders.
CEO of the Beca Group, Greg Lowe, told attendees CFOs are often seen by many as a ‘handbrake to happiness’ but stressed the need for them in leading conversations about a company’s direction, as well as actively engagement with management, directors and shareholders in all organisations.
Another panellist, New Zealand Post CEO Brian Roche, said the challenge CFOs face is transitioning from a number policing role to value creation, adding that his own CFO was critical in making all business decisions. His comment was echoed by former CEO of the Commonwealth Bank of Australia, Sir Ralph Norris, who said his CFO David Craig was critical in implementing his multi-point company strategy.
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