Australia’s top finance leaders recognised as CFO role expands
- Written by Business Daily Media
Amid surging regulatory demands and rapidly evolving industry, Australia’s most influential Chief Financial Officers will be honoured at the inaugural Group of 100’s CFO Awards, celebrating the pivotal role finance leaders now play in steering corporate strategy and resilience.
The Group of 100 CFO Awards will see nominees judged across 10 categories including CFO of the Year (ASX), CFO of the Year (PE), Finance Team of the Year, Deal of the Year, Lifetime Achievement and Rising Star (Under 30).
The awards are a collaboration between the Group of 100 and executive search firm Johnson Partners.
Group of 100 Chief Executive Officer Stephen Woodhill said there has been a fundamental shift in the role of CFOs, more so than any other role in Australia’s largest organisations.
“CFOs are the quiet leaders of corporate Australia, carrying responsibilities that reach far beyond finance. These awards recognise just how central they are to company strategy and resilience,” Mr Woodhill said.
“In a very short period of time the CFO role has changed from being just a numbers person to overseeing everything from culture to climate risk,” he added.
“CFOs now manage close to 100 mandatory reports a year, covering not only financial performance but also everything from emissions to modern slavery and biodiversity. It’s a huge leap in both volume and complexity.”
Analysis by Group of 100 and executive search firm Johnson Partners shows an increase from 65 required reports to almost 90 in the last five years, with Environmental, Social, and Governance (ESG) obligations moving from peripheral mentions to centre stage.
“There has been a fundamental shift in how finance leaders communicate with the market, which is unlike any other role due to the level of detail CFOs now need to be across,” Mr Woodhill said.
“Climate change reporting has become more complex. Regulators and investors are now demanding transparency on emissions, supply chains and biodiversity like never before.”
“With some of the longest supply chains in the world, Australian companies face enormous hurdles in explaining their full environmental impact, and CFOs are the ones under pressure to deliver those answers.”
Jason Johnson, Founder and Chief Executive of Johnson Partners, said the CFO role was more strategically important to business than ever before.
“CFOs are instrumental in shaping their organisations’ ability to thrive in what has become a rapidly evolving economic and regulatory environment,” Mr Johnson said.
Sung Ho Lee, Partner and Head of the CFO Practice at Johnson Partners noted one of the most striking transformations in the CFO role has been around digital transformation.
“Five years ago there was a very limited tech focus, now AI plays a huge and increasing role in advanced analytics to enhance forecasting, performance management, and operational decision-making.
“Cybersecurity, and data privacy are also now very high on the agenda for CFOs,” he added.
Judges for the G100 CFO Awards: Yasmin Allen AM, non-executive director of QBE and Santos; Sarah Rennie, Co-CEO of Jarden; Alison Kitchen, non-executive director of National Australia Bank, Worley and Airtrunk; Crispin Murray, Head of Equities at Pendal; Colin Storrie, non-executive director of Endeavour Group and a former CFO; Georgina Johnson, Co-Head Equity Capital Markets Macquarie Group, APAC; Inder Singh, Group CFO of QBE and Chair of the Group of 100; Stephen Woodhill, CEO and Executive Director of the Group of 100; Jason Johnson, Founder and CEO of Johnson Partners; and Sung Ho Lee, Partner and Head of the CFO Practice at Johnson Partners.
Nominations open September 22nd. For more information visit
