Inside the Strategy Room

158. Seven mindsets and practices for new CFOs

May 12, 2023

49:40

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Episode notes

Introduction

2min

The Trends in CFO Transitions

2min

The Importance of the Transition Moment for New CFOs

3min

How I Managed My Relationship With the Board During Both of My CFO Transitions

2min

The Importance of Getting to Know the Board

2min

How to Manage a Board Relationship Without Creating Tensions With the CEO

2min

The Role of CFOs in Crisis Management

2min

The CFO's Role in Crisis Management

2min

How to Make a Successful Transition

2min

10.

How Much Scoping Should Be Done Before You Take on a CFO Role?

2min

11.

The Importance of Taking a Fresh Look

2min

12.

The Second Habit: Adopt a Bias Reaction

2min

13.

The Importance of Bias for Action in Transition

2min

14.

The Principle of Rigorousness and Speed

2min

15.

How to Create Bias for Action in a Transition Moment

2min

16.

The Importance of Making Space for Bold Bets

2min

17.

How to Be a Successful CFO From Within Your Organization

2min

18.

The Importance of CFOs in Strategic Decision Making

3min

19.

The Different Lens for a New CFO

2min

20.

The Importance of ESG for CFOs

2min

21.

The Importance of Talent in a Transition Moment

2min

22.

How to Be a Successful CFO

2min

23.

The Relationship Between the CFO and the CEO

2min

24.

Mikinsie Strategy and Corporate Finance: A Moment for the CFO to Lead

2min

Congratulations, you’re a new CFO—now hit the ground running with these seven key mindsets and practices that effective CFOs adopt from day one.

Joining Sean for this episode is Andy West, the global co-leader of McKinsey's Strategy and Corporate Finance Practice, Ankur Agrawal, a partner based in our New York office who leads our CFO and Capital Markets Practice in the Americas, Christian Grube, a partner in our Munich office, and he leads our CFO and Capital Markets practice across Europe, and Lauren Cooks Levitan, the CFO of Faire, a global wholesale e-commerce marketplace.

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