According to Yale University’s Professor Foster, companies are getting bumped off the S&P 500 at an accelerating rate. Back in 1958, a company could expect to stay on S&P 500 for 61 years. Now, the average is just 18 years.
Since 2002, Google, Amazon, and Netflix have joined the list; while Kodak and the New York Times have fallen off the list. Fast paced technological innovations are creating a tsunami of changes in the business community. The behemoth companies that we know today could well be very different for our future generation.
Against this backdrop of fast changing business environment and technological advances, together with increasing regulatory complexity and globalisation, how has the role of the Chief Financial Officers (CFOs) evolved in ensuring the sustainability of their companies? Are they ready to embrace the challenges as well as opportunities to maintain their relevance?