Let’s be honest: every CFO must manage and succeed with a CEO. Navigating this relationship is one of your biggest keys to success, and a skill that no CFO can live without.
CEOs can be very difficult to deal with – high expectations on earnings, month-end closes, personality conflicts, financial results, etc. Knowing and accepting that you are responsible for this interraction will only make your life easier.
Here are three key solutions to understanding this relationship – and succeed while nourishing it:
- Get Clarity – obtain a clear understanding of what the CEO is looking for in a CFO. This doesn’t mean you cater to every requirement, but a complete understanding of what you are being evaluated on is key. Especially is areas of strategy, financial results, and Board involvement.
- Execute the Strategy – take charge of lead the corporate initiatives that move the company forward. Make sure your team is looking at the consequences of the company’s actions.
- Have a Backbone – my father once told me “You teach people how to treat you”. Don’t be afraid to say “No” and back it up with facts. Be the voice of reason and the adult in the room when you believe projections are too optimistic or downsizing is the wrong direction. The CEO will make the ultimate decision – but your input must be considered on the issues.
Part of being a strong CFO is having the back of your CEO. This starts with a clear understanding of his/her goals and building a strong interpersonal relationship. Conquer this, and you have a clear path to success.