Deloitte CFO Survey

For Mars, organisational resilience runs through strategy, sourcing, governance, scenario planning and digital infrastructure. Group CFO Claus Aagaard explains how the company has gradually turned resilience into an operational discipline over time and why the CFO must help drive the agenda far beyond finance.

Global medtech company Ambu is scaling rapidly across international
markets. That pace of growth is reshaping how the company works
with organisational resilience and prepares for uncertainty, explains Group CFO Henrik Bender.

As Group CFO of Mars, Claus Aagaard holds one of the most influential finance roles occupied by a Dane in global business today. Mars – a family-owned company with global brands across snacks, pet care and food products – is among the largest privately held corporations in the United States and generates more than $65 billion in annual revenue. 

Maersk’s ambition to become the Global Integrator of logistics depends on adopting the latest technology and more. CFO Patrick Jany explains that real transformation comes from mastering processes, data and change management – and, not least, from using powerful AI solutions to handle repetitive tasks and make the human side of work more meaningful. 

The LEGO Group is preparing for a future where physical and digital play are seamlessly integrated, while keeping the LEGO brick at the heart of its business. The transformation involves building a strong internal digital organisation, modernising core systems such as ERP and PLM and strengthening capabilities in areas like AI, analytics and customer interaction. CFO Jesper Andersen anchors the digital transformation in business strategy, ensuring that value creation, risk management and delivery discipline are at the core of every initiative.  

After battling the pandemic, inflation and the turbulence of global conflicts, Carlsberg is once again ready to accelerate growth. Group CFO Ulrica Fearn is making sure that capital is allocated to the right activities – and she is very upfront about what growth algorithm is fit for the historic brewery.

In 2020, the management of Coloplast decided to accelerate their search for acquisition opportunities alongside organic growth. For Anders Lonning-Skovgaard, it became the start of a transition that has made the role as CFO broader, busier and more exciting.

By creating a strong link between corporate strategy and the finance function, COWI’s CFO Natalie Shaverdian Riise-Knudsen has secured a much broader playing field for her team. It is a natural progression at a time where many companies move from financial steering to value steering – and where talented individuals want to make an impact.

Anders Hagh, CFO of Salling Group, spends a lot of time coaching the next generation of young talent. For example, newly appointed CFO of Netto in Poland is just 29 years old. But age is just a number if you are willing to trust individuals and your leaders provide the right support.

From a small jeweller in Copenhagen to the world’s largest jewellery brand. Pandora’s growth journey is impressive in every way – and far from over, according to the company’s CFO, Anders Boyer.

To Heine Dalsgaard, Group CFO of Carlsberg, M&A is a discipline that you practise and slowly get better at. Today, Carlsberg has a structured process for acquisitions and a strong governance in place while still allowing people to bring new ideas to the table.

Several months of negotiations and meticulous planning peaked in fall 2020 when Tryg submitted its bid for British insurance company RSA Insurance Group. At the same time, international events helped pave the way for the transformational transaction, says Group CFO of Tryg, Barbara Plucnar Jensen.

“With a record result, 3Shape is ready to conquer the world with 3D scanners for dentists. We believe that we are facing a substantial growth curve,” says 3Shape's CFO, Kristian Krag.

The value of professional handling of IR should not be underestimated, according to regional CFO and former IR chief at FLSmidth Pernille Friis Andersen. The key concepts of good IR are credibility, continuity, and accessibility.

Speed of change forces CFOs to take on greater responsibility and make faster decisions. Having the right people is crucial, says CFO at Vestas, Marika Fredriksson.

CFOs need to understand the dynamics of the capital market, investors’ criteria for success and analysts’ way of thinking. That is crucial in order to be able to portray a company as an attractive investment, says CFO of DSV Panalpina Jens H. Lund.

Strategic investments and concrete measures have made Chr. Hansen the most sustainable company in the world. Today, 82 per cent of its revenue directly supports the Sustainable Development Goals set by the United Nations.

The CFO should lift his or her head from the spreadsheet and focus on working as a strategic sparring partner. The future for CFOs is about data analysis, performance and being able to see ahead to the opportunities of the next quarter, says Christian Baltzer, CFO for Tryg.

Mega-projects worth billions that will change society, transparent transformation and digitalization out in the open: Banedanmark's Chief Financial Officer is on a razorsharp Journey.

A clear digital strategy and executives leading the way have made the finance function a front-runner when it comes to tapping into digital opportunities.

As external threats and internal business demands continue to evolve, the CFO role is changing too. The future CFO will operate under a broader transformational mandate, where organisational resilience requires greater comfort with risk, structural change and adaptability. 

Companies are pouring billions into digital transformation, yet most projects miss their targets. To succeed with digital transformation, CFOs must take a more active role where it matters most. 

Many Danish CFOs already use capital allocation diligently to position their company for long-term growth. Others have the opportunity to take a more prominent role in the capital allocation process and potentially enable significantly higher value creation according to Kim Hendil Tegner, North South Europe Leader, Finance & Performance and CFO Programme Lead at Deloitte.

Danish CFOs in the past have had less need to focus on talent attraction, retention and capability building compared to their international CFO counterparts.

According to partner in Deloitte, Kim Hendil Tegner, Danish companies increasingly need CFOs that dare to take the lead when it comes to driving growth.

The CFO plays a crucial role in key parts of the M&A process and is a natural choice to assume primary responsibility for M&A transactions in the Executive Board, says Kim Hendil Tegner, partner and head of Deloitte’s CFO Programme.

Professionalised investor relations represent an untapped potential for many Danish CFOs, who ought to drive this topic higher up the agenda, according to partner and leader of Deloitte’s CFO programme Kim Hendil Tegner.