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A long-term labor shortage looms as the U.S. labor market cools: Labor-supply projections suggest that within just eight years, the number of available workers will fall by 6 million behind the nation's population growth. Yet most organizations only look at the short term, investing in attracting the best candidates rather than finding the best talent. and Those who want to work for us for the long term, not just for a few years. One finance chief with a long-term perspective is Renae Flanders, CFO of World Insurance Associates. Flanders finished 24 years at Aon, including eight years as CFO of…

By now, most companies have accepted an uncomfortable truth: if they delay adopting emerging technologies for too long, they risk extinction. Of course, every advancement that promises to increase productivity, build resilience, improve customer experience, and so on, is fraught with peril. (Think big data, machine learning, and cloud computing.) But the history of death by disruption proves that arguably the greatest existential risk ever is not acting quickly enough. “As a board, as a management team, we need to recognize that one of the biggest risks in AI is not trying it,” Donna Wells, a director at Walker &…

Virgin Atlantic rose from a maverick challenging the transatlantic market with a fun, friendly experience to a global airline. Jack McCullough spoke with CFO Oliver Byers for the most recent episode of Secrets of Rockstar CFOs to recount Virgin Atlantic’s trajectory. Founded in 1984 by Richard Branson, the airline started with a London to New York flight, aiming to transform the air travel experience. Byers shares insights into the airline’s strategic evolution, its commitment to delivering exceptional customer experiences and how Virgin Atlantic continues to redefine air travel, blending innovation with a customer-first ethos. Listen by clicking below. The Q&A,…

While many finance executives run from uncertainty, Stacey Ryan Cornelius is drawn to it. That may be a bit of a stretch, but listening to Ryan Cornelius talk about her work and mission at advertising and marketing firm Ogilvy, the excitement she feels about leading finance in a dynamic industry with highly creative people is clear. “I like being with a group of people who are committed to discovering something new,” Ryan Cornelius, global CFO at Ogilvy, told StrategicCFO360. We spoke with Ryan Cornelius ahead of his keynote address at the CFO Leadership Council's fall conference in Dallas on October…

Moving from Chief Financial Officer (CFO) to Chief Executive Officer (CEO) is a big career leap that many finance leaders aspire to. The journey may seem daunting, but with the right focus and professional development, it's entirely achievable. As the CFO role continues to evolve beyond traditional financial management to include broader strategic responsibilities, more organizations are recognizing the value of elevating their CFO to CEO. Leaders such as Best Buy’s Corie Barry, Citigroup’s Jane Fraser and UnitedHealth Group’s Andrew Witty are examples of former CFOs serving as CEOs. If you want to progress from CFO to CEO, here are…

Today's rapidly evolving business environment is giving rise to a new paradigm where artificial intelligence (AI) is no longer just a tool but a fundamental pillar of corporate strategy. As we stand on the brink of what many call the Fourth Industrial Revolution, businesses face a stark choice: evolve or become obsolete. This is not an exaggeration; it's the new reality of an AI-driven world. Consider this sobering statistic: Nearly half of the current S&P 500 companies are predicted to be replaced within the next decade. The culprit is the breakneck pace of technological innovation and disruption. In this new…

New data from executive compensation research firm Equilar suggests that boards are stepping up their scrutiny, which could have a negative impact on CEO tenure. According to data cited in the Reuters article, CEOs of U.S. retail and packaged goods companies tend to stay in office for seven months less than their auto, finance and manufacturing counterparts, but the trend of shorter CEO tenures may be spreading to other industries. The Reuters article quoted Jim Rothman, global head of shareholder advisory at Barclays, as giving his thoughts on why boards are more likely to take a stance against the CEO…

Waste management and sustainability go hand in hand, as the merger of Waste Harmonix Inc. and Keter Environmental Services in 2023 shows. Last year, the mid-market companies merged under asset management firm TPG, expanding the services they offer to their respective North American client bases. Keter manages waste and recycling programs for large property owners such as retail shopping centers, while Waste Harmonics serves properties across hundreds or even thousands of locations. Providing enhanced sustainability and reporting capabilities for both clients is a key challenge. “Throughout the merger, it has become clear that the two organizations have more similarities than…

Leadership transitions are inevitable for any organization. But without proper preparation, it's all too common to rush to appoint an underprepared successor and end up failing. It's not enough to identify potential leaders within your organization; your company's C-Suitables need to follow through and personally help develop these leaders to augment your talent. Matt Paese, senior vice president of leadership insights at global leadership consulting firm DDI, says the key to building a strong talent base is to take proactive steps to prevent potential leaders from leaving for better opportunities. According to DDI's Global Leadership Forecast, talent numbers have fallen…

June marked the death of Bill Donaldson, former SEC chairman, longest-serving head of the New York Stock Exchange, and first dean of the Yale School of Management. Donaldson served as Under Secretary of State under Henry Kissinger, was an entrepreneurial investor who founded the investment bank Donaldson, Lufkin & Jenrette, and led the turnaround of Aetna as chairman and CEO, among many other accomplishments. Having worked with him for nearly 40 years, I was impressed by his understanding of the social and cultural dimensions of governance, which went far beyond checkboxes of legal, accounting, economic, and structural oversight. Governance Model…