What are CEO's after in interviews?

[Lostprophet]

What are CEO's after?

I interviewed for a FC role and I was told by a CEO I am at 'first time director' level. Frustrating as, well I wanted the FC role!

I have a meeting with another CEO next week. I am confused at the angle to take. Do I talk about their business in a strategic way, or about my experience as an accountant and also key accomplishments, or on a wider perspective? This role is to become FD in a few years time.

In other roles where there is no progression to FD I think I need to be less strategic?

[rog007]

It's a 'how long is a piece of string' time I'm afraid. All CEOs are different, as are their industries and challenges. The answer to your question may be best answered by the CEO sat in front of you at the time. Good luck!

[truck71]

At FD level you need to understand and articulate how you can enhance business performance, expand how you would do this, what are the challenges involved. You need to demonstrate market and political awareness, identify threats externally and internally, have impact and influence at the right level and be credible.

Producing numbers and identifying problems is not enough (sweeping genralisation of finance bods).

[williamp]

Remember its probably "their" business, so they will want someone with very simmilar outlook to them, and probably work as hard as thye have done/still do.

[CaptainSlow]

Reading between the lines I suspect you're over over selling yourself for the role you're going for. If you're "first time director" material or not is another matter.

[hajaba123]

CEO of Tesco or CEO of My SME ltd t/o £2m with a flag pole outside and personalised number plate on my Jag? This will make a big difference

[Countdown]

Lostprophet said:

What are CEO's after?

I interviewed for a FC role and I was told by a CEO I am at 'first time director' level. Frustrating as, well I wanted the FC role!

I have a meeting with another CEO next week. I am confused at the angle to take. Do I talk about their business in a strategic way, or about my experience as an accountant and also key accomplishments, or on a wider perspective? This role is to become FD in a few years time.

In other roles where there is no progression to FD I think I need to be less strategic?

I'm an FC. I don't understand what he meant by "new director". An FC is often effectively deputy FD (depending on size/structure of the organisation), so pretty much the same as a new director. At that level the main things they should be interested in are strategic finance, technical competency, and leading/managing large teams. You definitely need to think outside of finance and, for example, demonstrate how you would make a positive impact across the whole organisation.

[RDMcG]

Make sure you understand his business as much as possible in advance, and also his competitors Discuss how he measures success. Talk about how you would ad value in the short term and not just the long terms strategy. CEOs have the whole burins to think about...generating revenue,cost management,cash flow, innovation, product development, capital decisions, and so on. Most of them expect senior managers to deliver results early.

I have worked directly to some very successful CEOs and does deals with others, and the best of them are

-visionary
-impatient
-not particularly fair
-very demanding
- want hard measures and early results

BUT

-interested is anything to advance the business
-solutions to problems

[davepoth]

I guess you're looking not just at being competent in finance, but also having a decent awareness of what's happening in the rest of the business. The best FC I ever had took a big interest in the other departments so that he knew what the numbers he was looking at really meant. When the GM was off sick or travelling he would have to deputise, including doing team briefs and presentations at head office, so it was a really broad remit.

[mike9009]

davepoth said:

I guess you're looking not just at being competent in finance, but also having a decent awareness of what's happening in the rest of the business. The best FC I ever had took a big interest in the other departments so that he knew what the numbers he was looking at really meant. When the GM was off sick or travelling he would have to deputise, including doing team briefs and presentations at head office, so it was a really broad remit.

100% this. My previous FD was very astute. He understood the figures well, but more importantly knew what levers to pull in each part of the business (engineering, quality, operations, sales, purchasing etc) to make the figures better. He was articulate, able to communicate to the rest of the management team on how to drive better performance and had a great helicopter view of the business. He also became GM for a while and did a cracking job except for communicating with our shopfloor employees - less said about that the better!

Our FC, although extremely competent, could not have performed the same function as the FD. I see the skill sets quite differently - so I wouldn't focus on your accounts experience at interview, that should be a given....

[Lostprophet]

Countdown said:

I'm an FC. I don't understand what he meant by "new director". An FC is often effectively deputy FD (depending on size/structure of the organisation), so pretty much the same as a new director. At that level the main things they should be interested in are strategic finance, technical competency, and leading/managing large teams. You definitely need to think outside of finance and, for example, demonstrate how you would make a positive impact across the whole organisation.

A new director is a first time director i.e. a first role as a FD.

FC's earn up to £85-90k Directors start on £80k (in ste companies) and go up to £150k and some.

[berlintaxi]

Lostprophet said:

FC's earn up to £85-90k Directors start on £80k (in ste companies) and go up to £150k and some.

FDs don't tend to come across as arrogant aholes though.

[Countdown]

Lostprophet said:

A new director is a first time director i.e. a first role as a FD.

FC's earn up to £85-90k Directors start on £80k (in ste companies) and go up to £150k and some.

So basically he was saying "you were overqualified"? Sorry but IME they only say that because they don't want to give you the real reason.

[CaptainSlow]

Countdown said:

So basically he was saying "you were overqualified"? Sorry but IME they only say that because they don't want to give you the real reason.

I agree. From this and other threads, the OP doesn't come across as FD material.

eta
FCs rarely become FDs.

Edited by CaptainSlow on Thursday 11th February 09:20

[andy-xr]

I dont know why, other than perhaps ego and business card bragging, that a first time director comment could be negative if it's true. If it's not, I'm sure you've got a heap of stats at your disposal of how you did things in previous roles.

If it's actually a negative, there's always an advantage in any disadvantage. For example, it would be more interesting to the CEO (who's responsible to the board and for the company) to show your plans and strategy and that he's getting a deal from you, not only in salary but in things that matter to the company. A CEO has his neck on the block if things fk up, he or she wants people around them who'll anticipate the problems, deal with them and make sure he's not exposed and the company is headed in the right direction.

Maybe he wants a safer pair of hands...who knows, it's kind of up to you to find that out before that comment comes up again if it's going to stop you getting the role/title you're after

[Countdown]

CaptainSlow said:

FCs rarely become FDs.

Edited by CaptainSlow on Thursday 11th February 09:20

In my experience many FDs will have held FC toles at some point. Bear in mind that iob descriptions for FCs can vary alot.

[You might be thinking of Head of Treasury?]

[CaptainSlow]

Nope, I know what the difference between an FC and Treasury Head is.

Best way for an FC to become an FD (in a non-"ste" company) is to move into a more operational role first, either within Finance (Head of Commercial Finance or FP&A) or outside Finance. An FC will unlikely be the attractive option for an MD/CEO.

Also, many FDs will rely on the FC to have a skillset they don't possess. The FC can be the understudy to cover holidays or other short periods of absence but very rarely get the gig full time.

[Countdown]

CaptainSlow said:

Nope, I know what the difference between an FC and Treasury Head is.

Best way for an FC to become an FD (in a non-"ste" company) is to move into a more operational role first, either within Finance (Head of Commercial Finance or FP&A) or outside Finance. An FC will unlikely be the attractive option for an MD/CEO.

Also, many FDs will rely on the FC to have a skillset they don't possess. The FC can be the understudy to cover holidays or other short periods of absence but very rarely get the gig full time.

We obviously have different experiences. I've held 3 FC (type) roles and 1 FD role in the last 20 years. My next role is going to be interim FD. All of my previous FD bosses have been FC/Deputy FD --> FD. None of them needed an operational role before becoming FD.

Having said that none of the FDs would have considered applying for the MD/CEO role because the skillsets were too different.

[CaptainSlow]

OK fair enough. I've spent my career in large Corps where many of the CEOs are accountants, however, they have moved out of Finance earlier in their careers into other senior roles before coming back to FD or straight to CEO.