Source: Fortune
Summary
McKinsey’s 24th annual Global CFO Forum brought together 100 finance chiefs from over 30 countries to discuss the evolving role of CFOs in corporate strategy. According to Andy West, a senior partner at McKinsey, about two-thirds of CFOs reported that the strategy function now reports into them, up from less than a third five years ago. CFOs are taking a leading role in capital allocation, investor communication, and long-term strategic bets, driven by intensified market competition, geopolitical uncertainty, and rapid technological disruption. AI is accelerating this evolution, with CFOs expected to quantify its impact on performance and lead adoption.
Our Reading
The numbers tell one story. CFOs are increasingly central to navigating shifting competition and technological disruption, with about two-thirds now overseeing the strategy function. McKinsey’s “shuffle rate” shows a 50% increase in market share turnover since the mid-1990s. CFOs are taking a leading role in capital allocation and long-term strategic bets, with AI driving this evolution. Talent remains a top concern, but organizational transformation is the bigger hurdle. CFO sentiment remains optimistic despite near-term challenges.
The strategy enters a familiar phase: CFOs are taking the reins, and AI is the new way of working.
Author: Evan Null
