Content thumbnail Partnering for Performance Part 5

The CFO and CEO: key allies in value creation As Costas Charitou, CEO, Lanitis Group of Companies, says, “A CFO that only Trusted allies: thinks of the numbers would miss out on the business opportunities and the decisions we need to take. You need someone with the awareness of the 652 CFOs tell us how to strengthen the CFO-CEO alliance market, competition and future growth opportunities.” CFOs need to strike a balance between control and growth. They need to be The CFO commitment The CEO commitment able to display agility and flexibility — both personally and organizationally — as the organization’s strategy and the economic situation evolve. Develop Break down Tony Klimas, Global Finance Performance Improvement Advisory Leader, the right strategic the organizational EY, has seen this tension at play in many organizations. In his experience, skills and mindset boundaries that CFOs still the CFOs that have successfully made the transition to business partner are perceive as barriers those that have taken a step back from finance operations, and are focused on taking a strategic view on how they build and structure the finance function. “To partner in a strategic way with the CEO, CFOs need to redefine the principles of the finance function,” he says. “Many CFOs have the will and the drive to be a business partner to the CEO, but the change can’t just come Build Rethink from them. They need to ensure the larger finance function has a balanced a finance function with the the contribution skill set that covers cost control, treasury, analytics and strategic forecasting. right balance of skills to give they ask of their CFOs The CFO should be able to trust their finance leadership team and keep some finance leaders the breathing distance from each of these activities to dedicate more time to collaborating space to step away from the detail with the CEO on strategic matters.” The view from the CFO’s office: The view from the CEO’s office: “The relationship must “You cannot afford to just have a numbers be one of mutual guy next to you. You need someone who respect and trust.” has the awareness of where the market Kathy Waller and competition is heading.” Executive Vice President and CFO, Costas Charitou The Coca-Cola Company CEO, Lanitis Group of Companies Partnering for performance Part 5: the CFO and the chief executive officer 6

Partnering for Performance Part 5 - Page 8 Partnering for Performance Part 5 Page 7 Page 9