Should CFOs have a seat on the board?
Companies should weigh the pros and cons, including having stronger financial oversight against board independence.
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IN the current era of heightened risk and increased regulation, the role of the chief financial officer (CFO) has never been more important.
CFOs with strong financial knowledge and experience can be the difference between a high-performing company and an average one. CFOs are taking on more roles within the company - overseeing mergers and acquisitions, digitisation and cybersecurity. In organisations that do not have one, CFOs are now often acting as de facto chief risk officers.
With the more roles that CFOs are taking on within their companies, one natural question to ask is this: Should they also sit on the board?
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