What Makes an Exceptional CFO By Gary McGaghey
A CFO is an individual who’s accountable for financial planning and operations management at a company or organization. They oversee various processes, including cash management, vendor relationship, investment exposure, investing, and M&A opportunities. According to Gary McGaghey, some CFO do not step into CEO roles. He has, however, discussed the main reasons for this. This article will discuss the qualities that make an excellent CFO and enable him to transition into the CEO.
According to Gary McGaghey, proper strategy development is the first thing that makes a good CFO. This means that the CFO must be up to date with the current financial trends, emerging market conditions, and technologies. They should therefore understand different industries and their risks and opportunities in the local market. If a CFO is proactive in setting strategies, he will be able to support management in meeting its goals.
Secondly, according to Gary McGaghey, there is a need for an excellent corporate structure. A good corporate structure will enable strategic objectives to be achieved through proper planning. A good corporate structure will also allow the CFO to control spending and minimize expenses and operating cash flow variance. CFOs must also be able to manage projects efficiently and effectively.
Mr. Gary argues that a good CFO should have good communication skills. He should therefore have the ability to speak at various levels and support management in achieving its objectives. Good communication will ensure that all employees are on board with any changes affecting them or the organization.
What is most important for a CFO is his responsiveness. He should be able to respond promptly to various issues that may emerge. If a CFO displays responsibility and responsiveness when problems arise, he will be able to maintain the morale of his people. Mr. Gary states that this is the quality that makes the transition possible. Website: https://www.garymcgaghey.co.uk/