There are many factors that favor chief financial officers to take the role of a CFO. The current global challenges of the financial crisis and economic recession place the CFO are best position to understand the relationship between the global financial environment and the financial situation of the company. Such expertise is necessary to in order to caution the company against economic recession. Therefore, a CFO is capable of maintain stable growth of a company over the economic business cycle. The CFO has understanding of all departments in a company. As a CFO, he works with every department and therefore he has a complete understanding of the company’s operations and the financial needs. A CEO with experience as a CFO has experience in financial needs of every department and the productivity of the company. The job of a CFO and CEO are different in various ways but overlaps in many ways as well. Therefore, it makes CFO conversant with duties of a CFO. Many boards of director have opted to appoint a CFO to the position of the CFO because of their conversant with security laws and documentation of the financial transactions of the company. In my view, CFO is in good position to manage a corporation in the capacity of the CFO. The CFOs are natural successors to CFOs due to their conversant with the financial part of the company (Financialdirector.co.uk).
John Rishton is the current CFO of Roll-Royce, the position he took in 2011. He started his job as an accountant as an accountant for ford motor company where he raised to become finance director of ford’s operations in Portuguese and Spanish. He served for 15 years as the head of the finance for ford’s US division and in 2001, he become the division’s CFO. He worked for Ahold from 2005 as a finance director for two years (Rolls-royce.com