Issue link: https://beckershealthcare.uberflip.com/i/1516121
23 HEALTHCARE NEWS 23 ADVERTISINGINDEX Note: Ad page number(s) given in parentheses Modio Health. join.modiohealth.com (pgs. 16-17) nimble solutions. nimblercm.com / (877) 236-5245 (pg. 2) Smith+Nephew. smith-nephew.com / (800) 343-5717 (pg. 24) Stryker. stryker.com/asc (pg. 3) Surgical Notes. surgicalnotes.com / (800) 459-5616 (pgs. 7-10) CFOs getting more CEO jobs By Alan Condon M ore CFOs are moving to CEO or president roles, but finance executives must be well-versed in what drives growth to find success in the corner office, Bloomberg reported Jan. 16. CFOs have historically been known for number crunching, but are increasingly taking on more operational responsibilities. Their roles have expanded beyond traditional finance and accounting, and the skills CFOs need have changed too. In 2023, a record 8.4% of companies represented in the S&P 500 and Fortune 500 promoted a finance chief to CEO, up from 5.8% 10 years ago ago, according to data from executive search firm Crist Kolder Associates. Data is based on a sample of about 674 companies. "CFOs are taking on a more operational role in those businesses, ingratiating themselves," Josh Crist, a co- managing partner at Crist Kolder, told Bloomberg. "The more you can grab as CFO, the more likely you will have chances at the top gig." Crist Kolder anticipates this trend to continue, with more CFOs landing in CEO roles as companies aim to get their finances back to a more stable footing amid an unstable outlook for the U.S. economy. CFOs are strategic leaders and drive performance across the organization. Though CFOs who have been in the role for a decade or two may have a more traditional viewpoint, many are adapting to the role of the modern CFO and embracing their more strategic position. Despite the rising success of CFOs, serving as COO continues to be the clearest path to CEO, according to Crist Kolder, which found last year that almost 50% of CEOs who came from within an organization were previously in COO-type roles. n be called out, something needs to be changed," Dr. Megerian added. In 2024, the book club is moving to a schedule of meetings every other month rather than every month, to allow more time for participants to read both books before another meeting. e book club is also striving to read books that have a high chance of authors being able to attend to talk about their work. A potluck dinner will also be held at every other meeting in 2024. "Many of the themes of the books we read involve things like leadership, treating others with respect, compassion toward each other and patience," Dr. Megerian said. "Some of the books revolve around leadership and the notion of how leaders put themselves last at times. "And sometimes these are manifested through maybe reading a biography of a wonderful leader, and there is a side effect that can happen from the discussions and the readings and the realization of important principles that transcend that meeting. And allow the CEO to have yet another mechanism of explaining why we do things and why we have to stick to our strategic plan." Ms. Riordan said the next book club meeting is in February in conjunction with Black History Month, and book club participants will be reading "Medical Apartheid" by Harriet Washington and "e ree Mothers" by Anna Tubbs. n