Canadian CFOs More Conservative Than Global

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    Canadian chief financial officers (CFOs) are more conservative and risk-averse in their approach to skill development than their global counterparts, finds a report by EY. Sixty-three per cent of Canadian CFOs favour work-shadowing or other experiential opportunities to help cultivate essential skills among the next generation of finance leaders, compared to only 35 per cent of CFOs worldwide. “When it comes to developing the next generation of finance leaders, Canadian CFOs prefer training and work-shadowing programs over hands-on leadership and exposure to board-level activities,” says John Candeias, senior manager, advisory services at EY. “In fact, more than half (53 per cent) believe implementing a training and development program for high-potential finance talent is key, compared to only 36 per cent of CFOs globally.” The findings anchor EY’s latest ‘DNA of the CFO’ report, which examines the evolving role of CFOs and how today’s leaders are not only carefully mapping their own career paths, but also laying the foundation for the next generation of executives. “Now more than ever, CFOs must invest in developing new skill sets, cultivate exemplary leadership behaviours, and encourage diversity if they are going to build high-performing teams today, while equipping tomorrow’s successors,” says Candeias.