Not just a bean counter anymore - how AI and digital transformation are the new kingmakers for CFO career ambitions
AI and digital transformation are among the key drivers changing the remit of Chief Financial Officers (CFOs) and, in the process, making them increasingly eligible candidates for the top job.
In fact, as executive search firm Crist Kolder Associates’ 2025 Volatility report revealed recently, 10.26% of sitting CEOs at Fortune and S&P 500 companies are now former finance leaders. The figure is up from 7.1% the previous year. This is the highest level in a decade – although presidents and chief operating officers (COOs) are still the most common ‘last step’ roles.
As to why this situation is coming about, Darren Heffernan, CEO at financial close and account reconciliation software provider Trintech, believes there are various reasons:
The CFO role is morphing towards that of the COO, which you don’t see as much of these days because CFOs and CIOs are taking on more of their responsibilities…Also, the CFO...
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