CFOs play musical chairs

30 have shifted jobs in last four months; salaries zoom

- MANU KAUSHIK

THE DEMAND FOR Chief Financial Officers (CFOS) is going through the roof.

Fuelled by the need to raise growth capital (debt, equity or private equity), getting the books in order, managing international expansions and large acquisitions, companies across the board are scrambling to hire CFOs in a market where demand outstrips supply.

Since November 2023, corporate India has witnessed around 30 CFO movements, with nearly 16 in January and February alone. K Sudarshan, managing director (India & Regional Chair), EMA Partners, says the number of CFO searches has gone up by 30% in recent months.

"Initially, the demand was primarily coming from emerging businesses who were hiring experienced CFOs from larger corporations, which, in turn, caused a CFO-level churn across the industry," he adds.