Top CFOs in New York in 2016
Businesses exist to make money, which they cannot do without good finance heads. CFOs are in charge of company finances and are responsible for success or failure of the company financially. Indeed, any company running without an effective CFO will find itself in all sorts of troubles financially and legally.
CFOs are foremost in charge of the operations of the finance department. Without effective functioning of the finance department, a business cannot carry out any other business processes. By cash flow management, employee remuneration, tax payments and other finance functions, the CFO keeps the business running.
Business growth is brought about by sound tactical and strategic planning. The CFO will help formulate a financial plan that merges with the business’ short and long term goals. By investing strategically, the CFO can ensure that the business remains financially sound in the long term.
The CFO can influence the way the business runs by control of the finances. Changes like cost reduction, pricing, procurement processes can be streamlined by the CFO by the release of funds in efficient procedures and doing away with inefficient practices.
The CFO is responsible for protecting company assets by assessing any risks. The CFO will ensure that the company has complied with all financial and accounting regulations and communicate any risks to the board. He closes the books correctly.
Honesty and integrity have been the top desired traits of CFOs for a long time. A survey by the CFO magazine in 2003, conducted on 500 employees, found that 24% indicated honesty was their top desired trait for a leader of the CFO’s stature.
Another survey in 2007 by Robert Half Management Services on 1400 respondents showed that 31% ranked integrity/honesty above other traits like good communication skills which polled at 27%.
The Overture group also did a survey on 10 employers who stated that the best trait they were looking for was honesty and integrity.
The CEO of the future will have to wear many hats due to the blurred lines between finance and technology. He will have to be in a position to handle tasks like big data analysis to sift through financial information, see and point out trends.
Many companies are recognising that the CFO is even more crucial than the CEO. If he/she can handle functions like strategic planning properly, then the position of the CEO is superfluous and the CFO is adequate. Even members of the press are looking more to CFOs for hints of business direction.
Here are the top CFOs of New York for 2016:
Constellation Brands Inc.
The Goldman Sachs Group Inc.
International Business Machines Corporation
The American Express Company
HarperCollins Publishers LLC
Simon & Schuster Inc.
The Perseus Book Group
Houghton Mifflin Harcourt
Thomson Reuters Corporation
James J Leo
Wegmans Food Markets Inc.
Whole Foods Market
FactSet Research Systems