Emerging Trends in CFO Hiring

By Laureen DeBuono

At FLG Partners, we have been blessed with a robust late Spring in terms of the firm’s performance. Our partner utilization rate is at the highest in our firm’s history.

As FLG’s new Managing Partner, I believe the reason for this is that our partners, each of whom have on average of 20+ years of senior financial experience, are strategic, calm “fixers,” adept problem-solvers, and decisionmakers who understand how to navigate through crises such as COVID-19.  This is why we get a steady stream of calls from PE and VC firms, CEOs, law firms and others who need strategic, financial and operational advice and assistance with their clients’ (or their own) businesses around operational re-structuring, cash management, debt financing and/or capital financings, M&A, IPO planning, people management, and board governance.

As CFOs, we are often in a unique position to spot emerging trends in customer demand, market dynamics and competitive reactions. As the COVID-19 crisis continues to impact our clients across sectors, these evolving developments are influencing why FLG is retained, and our partners hired, as interim or permanent CFOs.

We see 5 emerging trends when it comes to hiring CFOs:

1. Cash-strapped small to medium-size growth companies increasingly need a CFO with a steady hand to lead them through loan applications or financings, process and controls management around loan or cash deployment, how to use proceeds and how to extend their runway.

2. Life science companies “waiting” to go out to the public markets need a strategic CFO to manage the process, assist with crossover financing to extend the runway to the public markets, and to help with landing strategic partnerships.

3. Technology companies need tweaking of their business models and possibly restructuring of their operations to ensure cash efficiency and allow for growth runway.

4. CPG companies increasingly need an experienced CFO to help them re-look at their overall business and determine how to streamline operations, stores and overall product offering to ensure long term viability.

5. Companies (across all sectors) requiring a seasoned fundraising CFO to lead debt or capital financings, and then to assist those entities extend their cash runway which many including turnaround or restructuring activities.

CFOs experienced in complex and strategic problem-solving, both business and financial, and who have handled restructurings and navigated financial crises are what is needed in today’s turbulent economic conditions. At FLG, we pride ourselves in our depth of experience, essential in times of rapidly changing business dynamics. If your company is in need of top-tier C-suite talent to meet the demands facing your company, brand and business, give us a call. We’re happy to discuss how we might help.