logo
CFO evolution puts spotlight on data, tech skills

CFO evolution puts spotlight on data, tech skills

Yahoo26-03-2025
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter.
Today's CFOs are serving as 'cross functional' leaders in an age where businesses are asking for more data analysis and quicker scenario planning to keep pace with rapid change — a shift that's having a ripple effect throughout the whole of the finance function, said Chad Hesters, CEO of executive search firm Boyden.
As finance chiefs are being brought 'into a lot more strategic decision-making, risk management, digital transformation' or other activities, the rest of the finance function has seen their own roles evolve to ensure they can offer the necessary support to strategically-minded CFOs, Hesters said in an interview.
With financial leaders being asked to provide their CEOs, boards and fellow C-suite members with key insights for decision-making, that 'means that their teams, F&PA, controller systems, they have to be proficient in data analytics, automation tools and financial forecasting and scenario planning,' Hesters said.
CFOs have seen their list of responsibilities grow over the past few years; in a 2024 survey by Egon Zehnder, 82% of finance chiefs said they had taken on new responsibilities such as mergers and acquisitions and corporate development. Finance chiefs are also still responsible for the traditional financial processes businesses need to operate successfully, however — and without the support of other financial leaders, they can quickly find themselves overwhelmed.
'I think, CFOs, as a result…they probably feel a little bit overloaded,' Hesters said. 'If they have a good team, they can maintain a good work life balance.'
To meet these broadening expectations, the finance function is evolving as well, Hesters said, including the traditional roles of the controller, the head of financial planning & analysis, and the chief accounting officer. Only one-fifth of CFOs said their work-life balance was 'poor,' Egon Zehnder's survey found, with 51% classifying it as 'okay' and 29% classing it as 'good.'
With CFOs becoming 'cross-functional leaders,' areas that were previously siloed — such as the accounting and finance functions — are now becoming more collaborative, for example, with the CFO acting as a nexus point.
'Gone are the days when the controller's organization can sit and just close the books…and the treasurer can just manage cash flow,' Hesters said. 'But again, that means that CFOs, by default, have to have a good understanding and connect all the dots in those areas and deal with a rate of change that can be dizzying.'
Hesters has served as CEO for the Tarrytown, New York-based Boyden since February 2023, according to his LinkedIn profile. Prior to joining Boyden, he held a variety of roles for fellow executive search and advisory firm Korn Ferry, and started his career as an intelligence officer for the U.S. Navy. Previous experience also includes stints at Heidrick & Struggles, Hunt Oil Company, and Shell.
Over the course of his career, Hesters has seen several trends influence the evolution of the CFO's role, he said. The first 'wave of change' he saw in his career was the aftermath of the Sarbanes-Oxley Act, which created 'this new external pressure, both coming and going into the CFO function' as businesses aimed to reduce operation risks and comply with new requirements, he said.
'That wave generated the need for CFOs and their controllers in particular, to have better systems, control processes and accounting systems that could validate the requirements they had to report on,' he said.
The second major 'wave' is still ongoing, Hesters said — the finance function is currently right in the middle of changes being driven by emerging technologies like automation and artificial intelligence, which are impacting how they approach both day-to-day and strategic processes. The amount of data the finance function is being asked to collect and assess is growing exponentially, changing not just how the finance team needs to execute certain functions, but the skills they need to do so.
'What's happening is you're finding CFOs putting a price on agility, on their team's ability to be agile and be continuous learners,' Hesters said.
Failing to have access to enough data in the present world is a bygone issue, he said — now, they need to be able to control and to act upon that data flow. That's 'requiring people to have different skill sets, a different view of the world, a different understanding of technology integration,' he said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

S&P 500 and Nasdaq 100 Post Record Highs on Earnings Optimism
S&P 500 and Nasdaq 100 Post Record Highs on Earnings Optimism

Yahoo

time17 minutes ago

  • Yahoo

S&P 500 and Nasdaq 100 Post Record Highs on Earnings Optimism

The S&P 500 Index ($SPX) (SPY) Friday closed up +0.40%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.47%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.23%. September E-mini S&P futures (ESU25) rose +0.38%, and September E-mini Nasdaq futures (NQU25) rose +0.26%. Stock indexes settled higher on Friday, with the S&P 500 and Nasdaq 100 posting new all-time highs. Signs of economic resilience and better-than-expected quarterly earnings results are underpinning stocks, with the S&P 500 and Nasdaq 100 posting new record highs this week. According to data compiled by Bloomberg Intelligence, around 83% of S&P 500 companies that have reported Q2 earnings have exceeded analysts' profit estimates. More News from Barchart This Self-Driving Car Stock Is Surging on a Major Nvidia Boost UnitedHealth Stock Spirals Lower Again. Don't Buy the Dip. UNH Stock Falls as UnitedHealth Confirms DOJ Probe. How Should You Play Shares Here? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Stocks added to their gains on Friday afternoon when bond yields fell from early highs and moved lower. The 10-year T-note yield finished Friday down by -1 bp to 4.38%. On the negative side, Intel closed down more than 8% to limit gains in chip stocks after reporting an unexpected Q2 loss of -10 cents a share, which was weaker than the expected 1-cent profit, and announced plans to reduce capital expenditures and cut staff by 15% by the end of the year. Also, Charter Communications closed down more than -18% after reporting Q2 EPS below consensus. Friday's US economic news was negative for stocks after Jun capital goods new orders nondefense ex-aircraft & parts unexpectedly fell -0.7% m/m, weaker than expectations of a +0.1% m/m increase. The markets are awaiting President Trump's August 1 deadline for trade deals to avoid high tariffs. Last Wednesday, Mr. Trump announced that he intends to send a tariff letter to more than 150 countries, notifying them that their tariff rates could be 10% or 15%, effective August 1. As an update, Mr. Trump late Wednesday said, 'We'll have a straight, simple tariff of anywhere between 15% and 50%,' an indication that the floor for tariffs is rising and suggesting that he would not go below 15%. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 3% at the July 29-30 FOMC meeting and 66% at the following meeting on September 16-17. The markets this week absorbed a heavy slate of quarterly corporate earnings, with reports from about one-fifth of the companies in the S&P 500. Early results now show S&P 500 earnings are on track to rise +4.5% for the second quarter, better than the pre-season expectations of +2.8% y/y, according to Bloomberg Intelligence. Around 83% of the S&P 500 companies that have reported have exceeded profit estimates. Overseas stock markets on Friday settled lower. The Euro Stoxx 50 closed down -0.06%. China's Shanghai Composite closed down -0.33%. Japan's Nikkei Stock 225 closed down -0.88%. Interest Rates September 10-year T-notes (ZNU25) Friday closed up by +5 ticks. The 10-year T-note yield fell by -1.2 bp to 4.384%. T-notes recovered from early losses on Friday and moved higher after a -1% fall in crude oil prices prompted short covering in T-notes. Also, T-notes rose after comments from President Trump eased fears that he would fire the Fed Chair when he said there was 'no tension' with Powell. T-notes on Friday initially moved lower due to negative carryover from a slide in 10-year German bunds to a 3.75-month low. Also, upcoming supply pressures are weighing on T-notes as the Treasury will auction $69 billion of 2-year T-notes and $70 billion of 5-year T-notes on Monday. European government bond yields today are moving higher. The 10-year German bund yield rose to a 3.75-month high of 2.769% and finished up +1.6 bp to 2.718%. The 10-year UK gilt yield rose +1.4 bp to 4.635%. Eurozone Jun M3 money supply rose +.3% y/y, weaker than expectations of +3.7% y/y and the slowest pace of increase in 9 months. The German Jul IFO business confidence index rose +0.2 to a 14-month high of 88.6, although weaker than expectations of 89.0. UK Jun retail sales ex-auto fuel rose +0.6% m/m, weaker than expectations of +1.2% m/m. ECB Governing Council member Kazaks said he saw little reason to lower interest rates further unless the economy suffers a major blow, and 'There is value in the ECB holding interest rates at current levels, and the time of no-brainer moves to hike or cut rates is over.' ECB Governing Council member and Bundesbank President Nagel stated that a steady monetary policy from the ECB is appropriate, as the inflation outlook has remained unchanged and the economic outlook has improved slightly. Swaps are discounting the chances at 18% for a -25 bp rate cut by the ECB at the September 11 policy meeting. US Stock Movers Centene (CNC) closed up more than +6% to lead managed health care providers higher after laying out a plan to address problems in its Affordable Care Act business to ensure it turns a profit in 2026. Also, Molina Healthcare (MOH) closed up more than +4%, and Humana (HUM), Elevance Health (ELV), and CVS Health (CVS) closed up more than +3%. In addition, UnitedHealth Group (UNH) closed up +0.89%. Deckers Outdoor Corp (DECK) closed up more than +11% to lead gainers in the S&P 500 after reporting Q1 net sales of $964.5 million, well above the consensus of $901.4 million. Comfort Systems USA (FIX) closed up more than +23% after reporting Q2 revenue of $2.17 billion, stronger than the consensus of $1.96 billion. Newmont Corp (NEM) closed up more than +6% after reporting Q2 sales of $5.32 billion, better than the consensus of $4.85 billion. Edwards Lifesciences (EW) closed up more than +5% after reporting Q2 sales of $1.53 billion, better than the consensus of $1.50 billion, and raising its full-year sales forecast to $5.9 billion-$6.1 billion from a previous estimate of $5.7 billion-$6.10 billion, stronger than the consensus of $5.91 billion. Aon Plc (AON) closed up more than +4% after reporting Q2 adjusted EPS of $3.49, above the consensus of $3.40. Palantir Technologies (PLTR) closed up more than +2% after Piper Sandler initiated coverage on the stock with a recommendation of overweight and a price target of $170. Gilead Sciences (GILD) closed up more than +2% after Needham upgraded the stock to buy from hold with a price target of $133. Carvana (CVNA) closed up more than +2% after Oppenheimer upgraded the stock to outperform from market perform with a price target of $450. Intel (INTC) closed down more than -8% to limit gains in chip stocks after reporting an unexpected Q2 loss of -10 cents a share, weaker than expectations of a +1 cent profit, and said it will reduce capital expenditures and cut staff by 15% by the end of the year. Also, ASML Holding NV (ASML) and Applied Materials (AMAT) closed down more than -1%. Crypto-linked stocks were under pressure Friday after the price of Bitcoin (^BTCUSD) fell more than -1% to a 2-week low. As a result, Galaxy Digital (GLXY) closed down more than -3%. Also, MicroStrategy (MSTR), Riot Platforms (RIOT), and Coinbase Global (COIN) closed down more than -1%. Charter Communications (CHTR) closed down more than -18% to lead losers in the S&P 500 after reporting Q2 EPS of $9.18, well below the consensus of $9.82. Comcast Corp (CMCSA) also closed down more than -4% on the news. Healthpeak Properties (DOC) closed down more than -6% after reporting Q2 lab same-store NOI growth of 1.5%, below the consensus of 2.45%. Sarepta Therapeutics (SRPT) closed down more than -6% after an evaluation committee of the European Medicines Agency recommended against the approval of the company's gene therapy Elevidys. Henry Schein Inc. (HSIC) closed down more than -1% after Stifel downgraded the stock to neutral from buy. Earnings Reports (7/28/2025) Amkor Technology Inc (AMKR), Brixmor Property Group Inc (BRX), Brown & Brown Inc (BRO), Cadence Design Systems Inc (CDNS), Cincinnati Financial Corp (CINF), Crane Co (CR), Exelixis Inc (EXEL), Hartford Insurance Group Inc/The (HIG), Kilroy Realty Corp (KRC), NOV Inc (NOV), Nucor Corp (NUE), Olin Corp (OLN), Principal Financial Group Inc (PFG), Revvity Inc (RVTY), Rithm Capital Corp (RITM), Simpson Manufacturing Co Inc (SSD), Universal Health Services Inc (UHS), Veralto Corp (VLTO), Waste Management Inc (WM), Welltower Inc (WELL), Western Union Co/The (WU), Whirlpool Corp (WHR), Woodward Inc (WWD). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Eshallgo Inc. Announced Receipt of Notice from Nasdaq regarding Listing Rule 5550(a)(2).
Eshallgo Inc. Announced Receipt of Notice from Nasdaq regarding Listing Rule 5550(a)(2).

Yahoo

time17 minutes ago

  • Yahoo

Eshallgo Inc. Announced Receipt of Notice from Nasdaq regarding Listing Rule 5550(a)(2).

New York, July 25, 2025 (GLOBE NEWSWIRE) -- Shanghai, China July 25, 2025 – Eshallgo, Inc. (NASDAQ:EHGO) ("Eshallgo" or the "Company") today announced that on July 23, 2025, the Company received a notice from the staff of the Nasdaq Listing Qualifications department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that for the last 30 consecutive business days, the closing bid price of the Company's class A ordinary shares was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5550(a)(2). The Nasdaq notification letter has no current effect on the listing or trading of the Company's class A ordinary shares on Nasdaq. Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until January 19, 2026, to regain compliance under the Nasdaq Listing Rules. If at any time during the 180-day compliance period, the closing bid price of the Company's class A ordinary shares is US$1.00 per share or higher for at least ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance by January 19, 2026, subject to the determination by the staff of Nasdaq, the Company may be eligible for an additional 180-day compliance period if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the minimum bid price requirement. In this case, the Company will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. The Nasdaq notification letters do not affect the Company's business operations, and the Company intends to take all reasonable measures to regain compliance within the prescribed grace period. About Eshallgo, Inc. (Nasdaq: EHGO) is a leading digital-first office solution provider headquartered in Shenzhen, China. Through its integrated platform, the Company offers enterprise-grade hardware, printing services, software subscriptions, and technical support to small and medium-sized businesses across China. Leveraging data analytics and automation, Eshallgo delivers cost-efficient and scalable solutions that empower businesses to digitize and streamline their back-office operations. For more information and real-time investor updates, please visit the Company's new investor portal at Forward-Looking StatementsAll statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and in its other filings with the SEC. Investor and Media ContactTony SklarInvestor Relations – Eshallgo, About Eshallgo, Inc. Eshallgo Inc. (Nasdaq: EHGO) is a leading digital-first office solution provider headquartered in Shenzhen, China. Through its integrated platform, the Company offers enterprise-grade hardware, printing services, software subscriptions, and technical support to small and medium-sized businesses across China. Leveraging data analytics and automation, Eshallgo delivers cost-efficient and scalable solutions that empower businesses to digitize and streamline their back-office operations. For more information and real-time investor updates, please visit the Company's new investor portal at

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store