"Having worked as the CFO for five CEOs across three industries, I have learned what really differentiates you as a CFO," noted Jeff Campbell during his keynote session at the 2017 CFO of the Future Summit: Fueling the Growth Agenda. "What really differentiates CFOs today is whether you are the key partner to the CEO in driving the business and creating change."
When Jeff Campbell dropped out of Stanford and joined a rock band at 20, he wasn't envisioning a future where he'd be managing a trillion dollars of cash flow as the CFO of American Express.
After four years on stage, though, Campbell went back to school to focus on economics and accounting, eventually earning a CPA while at Deloitte and then an MBA from Harvard Business School. From there, he joined American Airlines, eventually leading that company through an out-of-court restructuring in the aftermath of 9/11 as CFO. After leaving American Airlines, he went on to join the healthcare company McKesson as CFO, helping to advance the financial goals of a more decentralized corporation with decidedly different objectives. From McKesson, Campbell joined American Express as CFO, where he again learned a new industry and a new corporate culture.
While he's had a varied career, he says the critical lesson he learned from each company remains the same: the CFOs that are most successful work up and down the chain of command as a business partner, not just as a financial leader. Beyond simply identifying ways to improve the finances of a given organization, CFOs have to be able to interact with all of the parts of the business and create value. At American Airlines, this meant understanding how to drive change up the chain in the boardroom and down the chain with labor unions and employees. In the sales-driven culture of McKesson, it meant driving resources and goals towards the most valuable and fast-growing parts of the far-flung enterprise. In the marketing-driven corporate culture of American Express, it means leading a team that is focused on advancing profitability while leveraging and sustaining one of the most trusted consumer brands in the market today.
In order to facilitate enterprise-wide growth and transformation, Campbell encourages CFOs to consider three core questions as they approach their work:
- How do you spend your time?
- How do you think about talent?
- How do you think about transformation and technology?