Over the past decade, more CFOs have moved into CEO roles as the position evolves to include greater strategic and leadership responsibilities. This trend reflects a growing demand for executives who can navigate economic volatility with financial discipline.
In the first half of 2024, 7.1% of CEOs at Fortune 500 and S&P 500 companies came from a CFO role, up from 5.3% in 2013.
But while many Fortune 500 CEOs have finance backgrounds, the transition is not always seamless because the CFO skill set does not always align with the leadership, vision, and risk tolerance required to be an effective CEO.
“Historically, CFOs are counted on to be black and white and by the numbers, when in reality, a CEO is the one that has to navigate through the gray,” says Jeff Herzog, president of executive recruitment firm FPC National. Successful CEOs are able to thrive in ambiguity—an…
