In the past year, the number of CFO-level profiles in Spain has remained steady, while professional mobility has been high: about 7% of these professionals have switched roles, equating to nearly 1,000 job changes in the last 12 months.
These figures come from an analysis conducted by global talent solutions firm Robert Walters, which includes leadership-level impressions that reflect a dynamic market but without a significant uptick in new talent hiring.
The CFOs are scarce, largely due to internal mobility
When asked about the main reasons why companies struggle to find CFOs, 48% of business leaders point to generational succession, followed by rising demand (22%) and progression to roles such as CEO (21%). Early retirements have a smaller impact, representing only 10%.
Jesús Maldonado, Business Director of Executive Search at Robert Walters, specializing in identifying and selecting executive finance profiles, notes that “the CFO remains one of the primary pathways to the CEO role, largely due to its broad strategic vision that enables decisions that effectively impact the company’s growth. He also highlights his experience in identifying and mitigating financial risks, essential in times of economic uncertainty.”
The same sources indicate that 38% of respondents view the CFO profile as the most suitable to assume the CEO role in a company, just behind the Chief Operating Officer (COO) cited by 44%. This reflects how business priorities have shifted toward profiles able to combine financial control with strategic vision.
From an operational function to a strategic partner
In the last year and a half, due to global conflicts, the economic uncertainty facing businesses, and the new demands stemming from technological advancement, CFO responsibilities have expanded significantly. The most in-demand competencies today include business strategy (52%) and technological transformation (30%), while commercial and business partner skills carry less weight (9%). This shift marks the CFO’s transition from a control-focused role to an integrated position in the company’s key decision-making.
Looking ahead, CFOs should focus primarily on reinforcing trust and business stability (51%), followed by strategic leadership (22%) and business growth (20%). ESG objectives occupy a secondary place with only 7%.
The CFO remains the standout position within the finance function, also from a salary perspective. “A competitive compensation package with a realistic variable component will always be a major factor for a financial executive deciding whether to move to another company. However, they also value real opportunities to access other leadership roles such as CEO or to join the board,” Maldonado notes.
