Run the Numbers

The Era of “I Need a COO and a CFO” Is Over: Jim Cook on the Next Evolution of the CFO

Feb 27, 2025

Jim Cook, co-founder of Netflix and former CFO of Mozilla, discusses the evolving landscape of CFO roles. He emphasizes the shift from traditional scorekeeping to strategic influence, urging finance leaders to prioritize transparency and authenticity. Cook shares insights on the potential elimination of separate COO and CFO roles, warning against the pitfalls of 'fake it till you make it.' He highlights how modern CFOs must embrace AI technology, collaboration, and effective storytelling to adapt and succeed in their pivotal roles.

59:52

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Episode guests

Jim Cook

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

CFOs have evolved from traditional financial overseers into strategic partners, actively influencing company decisions and future performance.

Transparency and open communication are crucial for CFOs to build trust within the organization and enhance collaborative efforts across departments.

The future CFO's role is increasingly about designing business strategies and leveraging technology, particularly AI, to drive operational success.

Deep dives

Evolution of the CFO Role

CFOs have transitioned from traditional scorekeepers focused solely on financial records to strategic operators deeply involved in the decision-making processes of the business. Today’s CFOs are expected to possess a diverse set of skills, including the ability to forecast future performance, understand unit economics, and drive organizational strategy. This evolution indicates that those who can adapt and learn continuously will see longer tenures in their roles, as opposed to those who remain stagnant and focused on past performance. The ongoing adaptation to shifts like AI adoption is critical, and neglecting this technological advancement could result in being outperformed by more innovative counterparts.

Intro

5min

Milestones and Transitions

3min

The Transformative Role of CFOs

5min

Navigating Leadership: Embracing Vulnerability and Team Collaboration

5min

Evolving Trust and Authenticity in CFO Leadership

23min

Transforming the CFO Role with AI

15min

Navigating the Evolving Role of the CFO

3min

Jim Cook, Netflix co-founder, former CFO of Mozilla, early employee at Inuit, executive coach, and author of Substack Cook’s Playbooks, returns to the podcast for the third time. In this episode, he breaks down the evolution of the role of CFOs from traditional scorekeepers to more strategic and operator roles, before looking ahead at what’s to come. This episode is packed full of helpful advice about transparency, building trust, authenticity in your executive role, and why “fake it till you make it” is actually bad advice. Looking at the future of the CFO role, Jim explains why he believes there will be no need for both COO and CFO roles in an organization, the biggest mistake a CFO can make at this time, and how CFOs should be adapting in order to succeed in this next era.

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@cjgustafson222 (CJ)

LINKS:

Cook’s Playbooks

www.benchboard.com

Jim Cook on LinkedIn

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TIMESTAMPS:

(00:00) Preview and Intro

(01:37) Sponsor – Planful | Brex | Vanta

(05:49) CJ’s Career Growth Since First Interviewing Jim

(08:35) Making Finance Transparent

(14:40) Sponsor – Tropic | RightRev

(17:07) The Influence of Bill Campbell

(18:57) How to Get to Trust Faster

(20:32) Letting Your Freak Flag Fly in Your Executive Role

(23:06) Is “Fake It Till You Make It” Bad Advice?

(25:25) Why CFO Tenures Are Getting Longer

(28:16) The Evolution of the CFO Role and Technological Capability

(32:45) Scorekeeping and Actuals Don’t Matter Anymore

(34:38) The Era of the Strategic CFO

(36:48) SaaS and the Operator CFO Era

(41:09) Jim’s Prediction on the Next Era: The CFO Architect

(49:47) The Biggest Mistake We Could Make in This Era

(51:48) The Era of, “I Need a COO and a CFO,” Is Over

(55:41) Where a CFO Will Spend Most of Their Time in This Next Era

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Run the Numbers

The Era of “I Need a COO and a CFO” Is Over: Jim Cook on the Next Evolution of the CFO

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Evolution of the CFO Role

Importance of Transparency

The Architect Era of CFOs

Navigating Future Skills and Tools

Changing Perception of CFOs

Remember Everything You Learn from Podcasts