Operational experience is the top factor CFOs look for in identifying potential successors, according to Deloitte's "CFO Signals Survey 2Q 2024."
Two hundred CFOs participated in the survey, according to Deloitte. The company said 62.5% of CFOs surveyed were from public companies, and 37.5% were from privately held firms. One-fifth of participating CFOs had more than 10 years of experience, and 71% had between five and 10 years of experience.
The CFOs were asked, "What three traits, skills, or experiences are most important when identifying your possible successors?"
Here are the top factors CFOs look for when identifying possible successors:
- Operational experience: 37%
- Familiarity with new technologies (generative AI, machine learning, cloud): 30%
- Network leadership: 30%
- Accounting skills: 28%
- Broader knowledge of the enterprise: 28%
- Capital raising expertise: 28%
- Communications skills: 25%
- FP&A skills: 24%
- Respected by others in the company: 24%
- Familiarity with the industry: 24%
- Strategic acumen: 24%
Read the full report here.