The CFO’s Role In A Global Crisis
“As a leader, you are responsible for the well-being of your team. While you cannot solve all of their problems, this is a time to show compassion and patience, even while you continue to expect optimal performance.”
Jack is a Senior Contributor to Forbes CFO Network. An excerpt below.
Chief financial officers and their teams will play a critical role in the re-launching of their businesses in the coming weeks and months. As the only member of the executive team who is both a financial expert and strategic thinker, you will play a critical role in not only ensuring your company’s survival but positioning it for the future in a post-COVID-19 world.
How should finance chiefs approach the current crisis? While every situation is different, the following guidelines will prove invaluable as we emerge into a new world order.
Continue to over-communicate
The CFO’s voice is the most critical one during a crisis, arguably even more critical than the CEO’s. When constituents need the unvarnished truth, they turn to finance chiefs. You should be communicating with your employees, investors, customers and suppliers on a daily basis. Make sure parties who will play a vital role in your organization’s long-term success are fully informed and excited by your vision for the future.
About Jack McCullough
Jack McCullough is a recognized thought leader in the field of financial leadership, with a career that has included CFO positions at 26 companies. He founded the CFO Leadership Council, a global organization dedicated to empowering senior financial executives through innovative professional development programs and peer networking. His other accomplishments include chairing the MIT Sloan CFO Summit, and creating the vision behind CFO Week, a one-of-a-kind learning and networking experience jointly executed by the CFO Leadership Council and MIT Sloan. He is a contributor to Forbes.com, where he writes for the CFO Network on challenges and opportunities facing financial leaders. He is an entertaining and insightful public speaker, and has spoken to thousands of CFOs, and is frequently contacted by members of the media who appreciate his candor, insight and wit.
Engage with Jack McCullough further at https://cfoleadershipcouncil.com/about-our-founder/
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About The CFO Leadership Council
The CFO Leadership Council offers both live & online programs that feature expert panels and interactive sessions that drive meaningful conversation and leadership development among our membership. Our collection of leadership development resources similar to this article contain pragmatic insights and advice sourced directly from our members and industry experts. Recordings of CFOLC webcasts are made available to our current CFOLC Premium & Virtual members. To learn about membership options and CFO Week, visit www.cfolc.com.
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