I remember the day I stepped into the CEO’s office, not just the physical move, but the psychological shift that came with it. After years as CFO, the leap didn’t seem far. After all, I knew the business inside out. I had sat at the executive table, advised on strategy, assessed risk, and safeguarded the balance sheet. I thought I was ready.
What I didn’t realize is that while the office got a little bigger and the view a bit better, the role required something fundamentally different. Not just new responsibilities, but a whole new mindset. Moving from CFO to CEO is less about gaining power, and more about redefining how you think, lead, and connect.
When the Numbers No Longer Tell the Whole Story
As CFO, your world revolves around precision. You live in the realm of clarity, where accuracy is non-negotiable, risk is mitigated, and decisions are backed by data. The goal is to eliminate surprises and ensure consistency. In many ways, the CFO is the guardian of “what is”.
But the moment you become CEO; you’re tasked with imagining “what could be”. You find yourself in the grey. The role is less about certainty and more about navigating ambiguity. It’s no longer enough to be right, you have to be believable, inspiring, and often, decisive with incomplete information.
I learned quickly that while CFOs manage performance, CEOs shape purpose. A CEO must become a storyteller. Someone who can connect numbers to vision, vision to people, and people to purpose. And that requires a different set of muscles, and a willingness to unlearn some of what made you successful in your previous role.
Key Mindset Shifts on the Journey
Let me share a few mindset shifts that marked my own journey:
1. From Risk Aversion to Strategic Boldness
As CFO, I was hardwired to avoid downside. But leadership at the top requires a different kind of courage. As CEO, I had to lead the company into the unknown; new markets, new customers, new products, talent bets, where risk was real, but so was potential.
I recall a pivotal moment when we were evaluating a strategic customer acquisition. The financials made me uneasy, low margins, execution risks, uncertain synergies. My CFO brain said, “Hold back”. But my CEO gut saw a once-in-a-decade opportunity. We went ahead, cautiously, but confidently. It wasn’t a slam dunk, it turned out to be the catalyst for a period of sustained growth.
2. From Control to Trust
In finance, control is a virtue. As CFO, I knew the data, the systems, the levers. Delegation was selective and oversight was tight.
As CEO, that model no longer works. You simply can’t, and shouldn’t, be in every room or every decision. Your effectiveness comes not from control, but from the calibre of your team and the trust you place in them.
There’s a vulnerability in that. I had to learn to let go. But letting go doesn’t mean stepping back from accountability. It means stepping into a different kind of leadership, one where your job is to empower, align, and clear the path. I’ve found that when you create space for others to lead, your influence actually deepens.
3. From Accuracy to Agility
One of the hardest adjustments was giving up the luxury of full information. In finance, you aim for accuracy and completeness. In the CEO chair, waiting for perfect data often means missing the window.
I had to learn to move with 70% certainty, stay attuned to shifting dynamics, and course-correct in real time. That kind of agility doesn’t come naturally to most CFOs, it certainly didn’t to me. But it’s essential in a world where change moves faster than reporting cycles. It was uncomfortable at first, but once I developed the agility in uncertainty muscle, it served me well, especially during times of disruption.
4. From Finance-First to Stakeholder Balance
As CFO, success is often measured in returns. As CEO, it’s measured in relationships, how you engage employees, customers, regulators, investors, and the board. The job becomes less about driving numbers and more about shaping narratives.
One of the most underestimated skills in a CEO’s toolkit is communication. People don’t just want direction, they want meaning. They want to know where you’re going, why it matters, and how they fit in. That’s not a soft skill. That’s leadership.
Lessons Along the Way
The transition wasn’t without bumps. I had moments when I retreated to the comfort of numbers instead of facing difficult conversations. I’ve overanalysed when decisiveness was what the team needed. And I’ve underestimated how much people look not just to your words, but to your presence.
But I’ve also discovered the joy of vision setting, of helping others grow, and of building something that endures. I’ve learned that leadership isn’t just about being right. It’s about being clear, being fair, and being real.
Advice for Aspiring CEOs
If you’re a CFO eyeing the CEO role, here’s what I’d encourage you to consider:
- Expand your horizons. Don’t limit yourself to finance. Spend time in operations, sales, HR, customer service. Understand the business beyond the balance sheet.
- Invest in your leadership, not just management. Influence, empathy, and listening are critical. Not everything can be solved with a spreadsheet model.
- Practice letting go. Trust is a leadership multiplier. Start building that muscle before you need it.
- Be curious. Ask more questions. Understand motivations, not just outcomes.
- Connect the dots: Learn to translate numbers into stories people can rally around. Your numbers mean little if people don’t feel connected to them.
Closing Thoughts
The move from CFO to CEO isn’t a step up, it’s a step out. It’s a transformation. From guardian of performance to architect of purpose. From control to courage. From analyst to leader. From precision to possibility.
If you’re preparing for that leap, ask yourself this: Are you ready to lead with conviction, even when the data leaves room for doubt?
Because in the end, leadership is not about knowing all the answers. It’s about being brave enough to shape the future, even when the numbers don’t tell the whole story.