Duncan Hoggett, Partner, and Sophie Normyle, Associate, in the CFO Practice at global executive search firm Odgers, explain how finance leaders can excel in their careers
he role of the Chief Financial Officer has transformed dramatically in recent years. No longer confined to stewardship of financial reporting and compliance, today’s CFO is a strategic partner to the CEO, a navigator in times of crisis, and an emerging authority on everything from cybersecurity to artificial intelligence. For aspiring finance executives, the path to the CFO seat is not linear but there are clear milestones that improve the likelihood of success.
Drawing from years of experience advising FTSE 100 boards, private equity firms, and not-for-profit organisations, we’ve observed what separates strong CFO candidates from the rest. Here are the essential steps and strategies for navigating your route to the top.
Master the Crucial Roles: Group Controller and Divisional Finance Director
Two roles consistently appear on the CVs of top CFOs: Group Financial Controller and Divisional Finance Director. Each plays a vital role in meeting the expectations of the three key stakeholders in any CFO appointment: the CEO, the Audit Chair, and the Board Chair.
The Group Financial Controller position builds essential capabilities. It offers direct exposure to the board, investors, auditors, and banks while fostering the financial rigour and reporting acumen that audit chairs rely on. For aspiring CFOs, this role strengthens credibility and introduces them to the City and investor networks that can open doors to future leadership roles.
The Divisional Finance Director role is the training ground for commercial and operational leadership. It demands sharp business acumen, accountability for performance, and the ability to collaborate cross-functionally to drive growth. It’s also where emotional intelligence and executive influence are tested—attributes that CEOs prize in a CFO.
In an ideal scenario, both roles are part of a CFO candidate’s journey, offering a blend of technical expertise, leadership breadth, and commercial insight.
The Chair’s Perspective: Financial Steward and Business Partner
From a Chair’s viewpoint, the ideal CFO does more than manage numbers, they help keep the CEO accountable, communicate confidently with shareholders, and maintain trust with the Audit Chair. A candidate who brings experience from both key roles—Group Controller and Divisional Finance Director—signals well-roundedness and reliability.
Having visibility in investor circles also counts. Appointing someone the City already trusts offers reassurance to the board and shareholders alike. CFO candidates who proactively build that profile early, particularly through Group Controller roles, gain a significant edge.
Go Global: The Strategic Advantage of International Experience
International roles can rapidly accelerate the development of commercial, operational, and legal expertise. They often involve working in volatile markets or navigating unfamiliar regulatory environments. These scenarios hone resilience, strategic thinking, and executive leadership under pressure.
Those who take the leap rarely regret it. Time and again, we’ve seen international experience set candidates apart in CFO selection processes. It demonstrates not only adaptability but also the confidence to operate outside of familiar systems.
Be Seen: Creating Visibility Through Action
Ambition is not enough. Aspiring CFOs must actively shape their path by taking on visible, high-impact roles. Volunteering for turnaround projects, leading cross-functional initiatives, or being the “fix-it” person during crises will strengthen your reputation internally and demonstrate leadership readiness externally.
These roles are high-risk but high-reward. They allow rising finance professionals to build their brand and gain trust with senior leaders, which is often the difference-maker in promotion decisions.
Leading at the Executive Level: Trusted Advisor to the CEO
A successful CFO balances strategic insight with sound judgement, becoming an essential advisor to the CEO. That relationship depends on trust, emotional intelligence, and the ability to challenge constructively.
Being a business partner requires more than technical brilliance. The best CFOs stay close to the business, engaging with people at all levels, understanding operational realities, and staying alert to market shifts. They communicate clearly, align financial strategy with organisational goals, and act as a bridge between management and stakeholders.
Early experience in business partnering—particularly as a Divisional Finance Director—lays the groundwork for this role, developing the judgment and soft skills that will later underpin an effective CEO-CFO partnership.
Final Thoughts: Aspiring to CFO in a Changing World
There is no one-size-fits-all route to the CFO seat. But for those with ambition, the journey requires more than technical skill. It demands commercial fluency, operational insight, international exposure, and a commitment to leadership.
The strongest candidates are those who seek out breadth, seize challenges, and continuously develop their leadership style—particularly as the CFO role continues to evolve well beyond financial oversight.
