The CFO Shortage - A look at CFO Labor Market Trends


Looking at Google data, we see that between August and October 2022 there has been a significant uptick in searches for the terms “CFO” and “chief financial officer”—50% and 22% respectively. But even though Googling CFO is the simplest way to see these trends, it’s not the only confirmation that there is increasing demand for CFO candidates.


That rising demand is for a particular kind of CFO. Let’s call it the modern CFO. Let’s look at the current landscape as it has evolved along with businesses over the last couple of decades.


From Accounting to Financial Analysis and Planning – How the CFO role Evolves


Consider your basic business that has a product or service to sell. There is an initial investment to create your product. Revenue begins to flow. The business has someone on staff who has the accounting skills to keep track of revenues, expenses, and pay the taxes. This person may be called the controller, or maybe even the CFO. Over time, as the company grows, it begins to invest its profits in order to increase the business’s capacity, enter new markets, or increase the customer base. Instead of just tracking revenue and expenses, the CFO value to the company begins to shift from recording historical data to focus on driving long term performance of the company and how best to leverage its resources to accomplish the intended results.


The individual who started out as the controller is now expected to provide some financial analysis on a variety of business issues. What is the company’s breakeven point? What are the margins per customer or product? To increase capacity, should we increase the labor pool, invest in new equipment, or outsource? What is our return on this investment?  Should we finance our expanded capacity with operating cash flow, debt or raise through equity?


This is the point in the life of the business where the accounting and finance function begins to evolve from record keeping (historical) to helping the business make decisions with a financial approach (future-focused). In many instances, the individual in the controller role may not have the skills needed to provide this type of value.


Where Does the Modern CFO Exist?


Most large privately held or publicly traded companies have historically been a great training ground for modern CFOs. The accounting and finance functions not only ensure the accuracy of the financial statements, but they also work with other functional areas to help them manage financial results, as well as understanding the financial drivers of the business. This exists as these organizations require another level of financial sophistication in order to attract outside investors, board members, and maintain compliance as a public company. Most accounting and finance individuals who are trained in this world learn the best practices of their craft here.


What Does the Modern CFO Offer?



The modern CFO who drives business success is expected to bring the following to the table:

  • Economic approach to decision making – This is different from an accounting approach. It includes thinking about where to acquire more capital, whether to make investments etc.
  • Participation as an executive leader – While they might be officially in charge of the finance function, they now need to share their overall business acumen with the company to influence other decisions that are perhaps outside of their scope of responsibility. In many organizations, the CFO will even interact with customers in contract review/negotiation, but also for customer retention.
  • Ability to provide business partnering – These internal partnerships reflect the leadership of the modern CFO. The CFO and their team, partners with manufacturing, sales, marketing, and others to help them understand the decisions they make from an economic perspective, and how analysis and projections inform the interdependent web among all of the functional areas within a company.
  • Team management and development – The CFO’s team is on the front lines of business every day, having an impact on all functions. The CFO wants a team of financially savvy people who also have the emotional intelligence to help them partner and engage with other teams. The litmus test for a good financial team is whether they are being invited to meetings in other areas of the business, or if they have to invite themselves.


Supply and Demand – CFOs Who Drive Business Success to the Next Level


The demand for modern CFOs continues to increase based on a few critical drivers, while the supply isn’t keeping pace.


An increase in demand is being created by private equity firms acquiring companies who are for the first time accepting institutional investment. When this occurs, these companies typically need to adopt a new governance structure with a formal board, and since their new investors are financially astute – they normally desire the modern CFO to ensure both accurate financial reporting, and this modern CFO to help drive financial performance. A good portion of the companies that the PE firms acquire under this scenario don’t already have a modern CFO in the seat, resulting in the need to recruit an outsider.


In addition, medium sized family owned and/or founder led companies are increasingly adopting financial and governance best practices that were once only employed by public or PE backed companies. These shifts normally require a modern CFO which in turn is driving more demand for them.


Their pull on the dwindling supply affects the rise in demand and the subsequent shortage we are seeing. This article in the Association of Accountants and Financial Professionals in Business dives into the increased expectations for company CFOs.


The good news is that many financial officers currently working in high-stakes public companies want to take the skills they’ve learned over time and apply them in a business where the intense risk of projection-failure and the massive stress of issuing quarterly earnings won’t shorten their lifespans.


The bad news is that at this point that supply is dwindling and there are fewer truly experienced modern CFOs to meet the continually rising demand for their services.


CFO Recruiters – The Search for Your Next CFO


It is possible to recruit the modern CFO down from the heights to a company that wants to be more competitive, financially strategic, and continue to grow. Many CEOs are unsure of how to determine what CFO skills are needed in their company, let alone how to evaluate CFO candidates. If you have been searching for the CFO to move your business forward and are finding it tough to find the right person for the job, you are not alone. This is where an executive search firm with the right expertise can help a company not only align the company needs with the skills needed in the role, but also how to effectively run recruitment for this critical search.


This search is perhaps the most challenging there is, especially these days. Bringing in the expert on this will free you up to fill your countless other roles and focus on your endless list of important leadership tasks. Ending up with the right CFO will yield such growth that your search will have paid for itself in no time.


Check out our experience helping great companies hire modern financial leaders here!

Dunking on Convention

By Greg Togni • July 2, 2025
How the Youngest Team in the NBA Won a Championship, and What It Teaches Companies About Rethinking Experience.  In one of the most remarkable and inspiring seasons in recent sports history, the youngest team in the NBA defied all odds and clinched the championship title. Even more remarkable was that the Thunder were the youngest No. 1 seed in NBA history. Without the weight of veteran stars or a legacy of experience to lean on, this squad demonstrated that youth, agility, and fearless innovation could overcome the status quo. This isn’t a fluke. It’s the result of a deliberate, long–term vision, drafting and developing young talent, investing in player development, and creating a culture that prizes collaboration and growth over seniority. Their journey offers more than just a great sports story; it challenges the way companies view experience and value within their teams. The Traditional View: Experience as a Default Proxy for Value For decades, most organizations have equated years of experience with effectiveness. When hiring senior leaders, companies often use tenure as a key filter. Promotions frequently go to those who have "put in the time." And while experience certainly brings value - especially in decision-making, risk assessment, and stakeholder management - it should no longer be treated as the only or best predictor of future success. The Thunder’s 2025 title flipped that thinking on its head. They didn’t win because they had a deep bench of battle-hardened veterans. Their victory reminds us that in fast-moving environments, potential often outperforms pedigree. The Business Parallel: Rethinking the Experience Premium In corporate environments, experience has long been equated with value. Resumes laden with years of service and past roles often carry more weight than fresh ideas or untested energy. While experience can bring insight and stability, over-reliance on it can lead to stagnation. The NBA championship victory of this young team disrupts that thinking. It underscores a powerful idea: in rapidly changing environments, adaptability, curiosity, and the ability to learn fast can be more impactful than tenure. Companies today operate in a world that’s evolving faster than ever. Technology, consumer behavior, and market dynamics shift constantly. In such a climate, organizations that prize agility and fresh thinking often outperform those clinging to traditional hierarchies and outdated assumptions. Experience Is Still Valuable- But It’s Not Everything This isn’t a dismissal of experience. Seasoned professionals bring wisdom, historical context, and leadership that’s often critical. Just as a team might need a veteran presence in the locker room, companies benefit from experienced leaders who can guide and mentor. Similarly, companies should build environments where experience and youth are complementary, not hierarchical. That means creating mixed-age teams, mentorship programs that go both ways (reverse mentoring), and decision-making processes that value ideas over job titles. Cultural Transformation Begins at the Top For this kind of transformation to occur in business, leadership must challenge their own biases. Hiring practices, promotion pathways, and meeting dynamics often default to favoring experience over potential. To change this: Redefine Value Metrics : Shift from measuring success solely by tenure or past accomplishments to include adaptability, innovation, and team impact. Empower the Young : Give younger employees meaningful projects and leadership opportunities. Let them prove what they can do, not just what they’ve done. Encourage Risk-Taking : Just as the young NBA team took bold shots and played an unpredictable game, companies should reward intelligent risk-taking rather than punishing failure. Foster Intergenerational Collaboration : Combine the best of both worlds—pair youthful energy with seasoned insight for more balanced, resilient teams. The Future Belongs to the Fearless The youngest NBA team’s victory wasn’t just a basketball achievement; it was a cultural statement. It challenged the myth that experience is the ultimate determinant of success and showed the power of trust, teamwork, and youthful fearlessness. For businesses watching from the sidelines, the lesson is clear: if you want to build a championship organization, don’t just look at the old playbook. Cultivate fresh energy, bold thinking, and dynamic execution that youth can bring. Create space for new voices to rise. Experience will always have its place, but in the new era of work, potential might just be the most valuable asset of all.
Pape Machinery

New Opportunity: President – Agriculture & Turf

By Greg Togni • June 23, 2025
President – Agriculture & Turf About the Company With roots dating back to 1938, The Papé Group is the West’s leading supplier of capital equipment solutions. Today, we operate across nine states with over 4,000 team members, proudly representing premier brands including John Deere, Kenworth, Hyster, Ditch Witch, and more. What sets Papé apart is our commitment to long-term relationships, both with customers and employees. As a fourth-generation, family-led business, we believe in the value of a handshake, the importance of service, and the impact of leadership that stays close to the work. About Papé Machinery Ag & Turf (PMAT) Established in 2012, Papé Machinery Ag & Turf brings together several leading John Deere dealerships into one integrated platform serving the agricultural and turf markets. With locations across Oregon, Washington, California, Nevada, Idaho, and Hawaii, PMAT supports farmers, ranchers, and landowners with equipment sales, service, parts, and financing solutions. The business continues to grow in scale and complexity, and we’re committed to strengthening our operational foundation while remaining closely connected to the customers and communities we serve. About the Position Reporting to the CEO of the Papé Group and residing in Eugene Oregon, the President will have full P&L responsibility and will lead 7 Regional General Managers, Vice President of Product Support, Vice President of Sales, and a Vice President of Ag Technology on executing the current growth strategy along with identifying, developing, and executing additional opportunities for growth and operational improvements. An ideal candidate will bring a deep understanding of the agricultural equipment business, whether from a dealership, OEM, or production agriculture background, and a track record of leading large, distributed teams. This is a hands-on leadership role in a company that values integrity, service, and results, and where decisions are made with the long-term in mind. Essential Duties and Responsibilities Strategic Planning & Business Development Develops a strategic plan for the organization with broad organizational input, considering market trends, evaluating risk, and identifying opportunities. Identifies and aligns company resources to execute the strategic plan. Responsible for meeting projected goals, objectives, sales volumes, and profit plans. Provides leadership and vision of the company’s goals and objectives through open communication. Evaluates expansion of product or territory for Papé Machinery Ag & Turf. Develop and assist General Managers in implementing strategies for promoting the sale of equipment, service, parts, and financing. Operations & Financial Management Drive financial performance of the company against the strategic plan Own the annual budgeting process, capital planning, and financial performance targets to meet or exceed ROI expectations. Partner with the corporate finance team for ad-hoc analysis and scenario planning. Manage inventories, sales volumes, expenses and personnel of all Papé Machinery Ag & Turf operations. Manage and assist General Managers as appropriate to maximize profits with expense controls and efficiency to achieve acceptable profit margins. Leverage data and reporting tools to drive decisions and monitor performance. Insures accurate financial reporting to The Papé Group, Inc. Team Management & Development Serves as a strategic coach and advisor to General Managers, fostering leadership effectiveness and accountability in achieving business objectives. Oversee the performance management process for General Managers and Corporate Managers, ensuring consistency in evaluations, compensation reviews, and goal setting. Collaborates with managers and supervisors to implement structured development plans, performance reviews, and training programs that support member growth and operational excellence. Facilitates open communication across all levels of the organization by soliciting feedback and clearly articulating company and departmental goals to ensure alignment, engagement, and cultural continuity. Provides executive-level guidance on all personnel matters, including talent acquisition, terminations, and organizational planning, in accordance with company policies and best practices. Relationship & Communication Maintain and develop relationships with Manufacturers, Customers, and industry peers as a method of staying current with market trends, and to continue Papé’s reputation as an industry leader. Maintain membership in appropriate organizations to promote Company in industry and community. Assist General Managers to establish and maintain good customer relations through ongoing communication and resolving customer complaints and/or disputes in a timely, effective manner when necessary. Partner and collaborate with other Papé Group businesses on company-wide initiatives and sharing best practices. Responds to customer inquiries and concerns in person or by phone, ensuring timely and effective resolution, including outside of standard business hours when necessary. Communicate in a courteous and effective manner with customers and/or co-workers. Maintain good working relationships with all other departments. Compliance, Safety & Environment Monitor through General Managers all safety aspects in performance of work, guaranteeing adherence to environmental laws, safety laws and policies and OSHA laws. Maintain a safe working environment and observe all safety laws, policies, and rules. Candidate Profile The ideal candidate brings a proven track record of executive leadership, strategic decision-making, and operational excellence within complex, growth-oriented organizations. Key qualifications include: A bachelor’s degree from a four-year college or university; advanced experience in lieu of a degree will be considered. 10+ years of progressive leadership experience, with demonstrated success in driving profitability, organizational alignment, and sustained performance. Exceptional communication skills, with the ability to craft and deliver high-impact messaging across stakeholders, from boardrooms to field teams. Strong public speaking and executive presentation capabilities; comfortable influencing at the highest levels. Financial and analytical acumen, including the ability to interpret financial reports and operational metrics to guide strategic decisions. Hands-on understanding of P&L management, operational controls, and scalable growth strategies. Adept at navigating complex data sets, solving abstract challenges, and turning insight into action. Proficient in leveraging technology to enhance efficiency and performance; familiarity with industry platforms and tools is a plus. Demonstrated ability to lead high-performing teams, build culture, and mentor next-generation leaders. Interested in Learning More? 180one has been engaged by Papé Group to manage this search. If interested in learning more about the opportunity, please contact Matt Oltmann / 971.235.6236/ Matt@180one.com .

New Opportunity: Vice President, Aftermarket

By Catherine Landgraf • June 11, 2025
 Vice President, Aftermarket ABOUT THE COMPANY Dover’s Vehicle Service Group is the global leader in designing and manufacturing vehicle service, collision and automotive OEM equipment. It is one of the founding companies of Dover Corporation, an eight billion dollar diversified global manufacturer. VSG consists of fifteen leading vehicle lifting brands (Rotary, Forward, Blitz, Ravaglioli, etc.), collision repair (Chief), wheel services, diagnostics (Butler, Rotary, Chief and Ravaglioli) and tier-one automotive brands (WARN Automotive) with operations worldwide, including regional business operation centers and large manufacturing facilities in the U.S., Europe and Asia. ABOUT THE ROLE Responsible for developing and executing the VSG Parts and Service business strategy in the Americas. This is a critical leadership role that requires strategic thinking, operational excellence, and the ability to inspire and motivate cross-functional teams to achieve Aftermarket objectives while exceeding customer expectations. ESSENTIAL DUTIES AND RESPONSIBILITIES Develop and implement a Parts and Service strategy to increase market share and add growth opportunities by leveraging complimentary products to the existing offering’s portfolio. Create a marketing strategy for recommending parts and services to existing customers and an outlet to attract new conquest customers using the Parts and Service area of the business. Partner with internal Supply Chain teams to develop an inventory stocking and replenishment model to ensure business success. Partner with dealers to develop a shared inventory and consumption model with clear visibility of parts supply in addition to developing incentives to drive the right behaviors. Stay current with industry and market trends and apply learnings to the VSG Aftermarket strategy. Create detailed budgets and forecasts, including annual sales and profitability targets to meet business and company financial and growth goals. Track and report internal progress to targets, utilizing technology and automation to reduce errors and administrative burden. Direct and coordinate activities relating to part quotations, including ensuring e-commerce ease of use. Developing innovative techniques for recommending parts and services to customers that generate incremental sales. Appraise existing offerings compared to competitors in terms of price, specifications, and delivery model and recommending changes in sales techniques, process design, or other procedures as necessary to achieve goals. Communicate regularly with internal functional teams including Operations, Service, Training, and Sales to effectively manage and grow and develop the parts and service processes. Motivate and inspire a team to achieve company goals and foster an environment of personal development and leadership growth opportunities. CRITICAL SHORT-TERM OBJECTIVES Develop and implement the Aftermarket structure and business strategy that: Expand parts and service market share. Improve supplier and customer network capabilities. Create higher levels of customer satisfaction and loyalty. Generate growth and expansion of the business into a new segment. Access and align internal resources needed to execute the enhanced Aftermarket business strategy. OVERALL QUALIFICATIONS – Skills and Experience Deep understanding of Parts and Service market in the Americas. Minimum of 10 years of progressive experience with parts and service delivery models. Proven track record of successfully transforming parts and service organizations to improve efficiency, productivity, and profitability. Strong leadership skills with the ability to inspire and motivate cross-functional teams. Excellent analytical and problem-solving skills, with the ability to identify root causes and implement effective corrective actions. Strong communication skills, both written and verbal, with the ability to effectively communicate complex concepts to diverse audiences. Demonstrated ability to work in a fast-paced, dynamic environment and adapt to changing priorities within all levels of the organization. KEY DOVER COMPETENCIES Customer Impact : Creates value for customers addressing known and unknown needs. Knows and understands all aspects of the global market, including: economics (regulatory issues, corporate compliance, etc.), products and services, channels, the customers and their end-markets. Strategic Mindset : Has understanding of global industry or market; creates breakthrough strategies that alter the competitive dynamics in a market, and establishes a series of competitive advantages yielding profitability that exceeds expectations for the organization. Results Driven : Produces results that exceed Dover’s strategic objectives via a combination of planning and implementation, while living the Dover Values. Strong Business Acumen and Sound Judgment : Uses instinct as well as data to accurately assess business situations and industry trends; makes timely, appropriate decisions and implements appropriate plans while living the Dover Values. Winning the Right Way : Operates with High Ethical Standards, Openness and Trust. Conducts him/herself with high ethical standards and fosters a culture in the organization to conduct business aligned with those standards. Builds and Manages Collaborative Relationships : Establishes and nurtures numerous relationships within Dover. Takes action to partner with the communities in which we operate and to be an appropriate corporate citizen. Interested in Learning More? 180one has been engaged by VSG to manage this search. If interested in learning more about the opportunity, please contact Lisa Heffernan / 971.256.3076/ lisa@180one.com .
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