In many companies, the CFO is more important than the CEO. And the majority of private equity-backed CFOs are actually not up to par. In this episode, CJ is joined by Scott Engler, of LinkedIn fame, to explain why he believes these bold statements to be true. Scott is the CEO and co-founder of Sync Executive Partners and the co-founder of PE-Xcelerate. He has decades of experience studying, recruiting, and coaching CFOs. He shares insights on the evolving role of the CFO, the many hats they wear, and which they should prioritise. He gives advice on how to navigate your relationship with your CEO, your PE sponsor, and other stakeholders, and provides some social profiling hacks that can help. The conversation covers the benefits of upside-down reviews and why not having a recommendation can be the smartest move, before examining the best way to get a CFO job at a PE-backed company, and how to negotiate equity packages.
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LINKS:
Scott Engler on LinkedIn: https://www.linkedin.com/in/scottengler/
Sync Executive Partners:
https://www.syncexecutivepartners.com/
PE-Xcelerate:
https://www.pexcelerate.com/
CJ on X (@cjgustafson222): https://x.com/cjgustafson222
Mostly metrics:
http://mostlymetrics.com
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TIMESTAMPS:
(00:00) Preview and Intro
(02:20 ) Sponsor – Brex | Aleph | RightRev
(07:12) How the CFO Role Has Changed Over the Last Decade
(12:08) Why the CFO Needs To Drive the Pace
(14:49) Why Most Private Equity-Backed CFOs Aren’t up to Par
(16:36) Sponsor – Navan | NetSuite | Pulley
(20:07) The PE-Backed CFO Versus Hypergrowth VC CFO
(21:54) How Senior Leaders Are Incented To Play It Safe
(26:04) The Operational CFO: The CFO Becoming More of a COO
(28:41) Why the CFO Is More Important Than the CEO
(32:16) How a CFO Should Prioritize Their Many Roles
(34:46) The Importance of Being a Good Storyteller
(38:49) What an Upside-Down Review Is
(43:46) Why Not Having a Recommendation Can Be the Smartest Move
(49:50) The Hardest CFOs Are the Easiest To Influence
(55:37) The Art and Science of Managing Your CEO
(57:48) Social Styles Hack
(1:00:47) Working With Your CEO and PE Sponsor
(1:04:08) The Best Way To Get a CFO Job at a PE-Backed Company
(1:11:54) The State of Comp for PE-Backed CFOs in This Market
(1:13:16) Negotiating Equity Packages
(1:15:39) The Biggest Challenge for PE-Backed CFOs Today
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