In certain jurisdictions, particularly within a unitary board framework, the CFO may also hold the position of a director within a company, complete with statutory responsibilities. When a unitary board is comprised of both executive and non-executive directors, the inclusion of the CFO as a fiduciary director adds another layer of complexity and significance to their role.
This arrangement intertwines the financial stewardship duties of the CFO with the governance responsibilities of a director. While executive directors often oversee the day-to-day operations and strategic decisions, non-executive directors provide independent oversight. The CFO in the role of a fiduciary director must navigate between these spheres, ensuring financial transparency, compliance with regulations, and contributing to strategic discussions.
In summary, in certain setups, a CFO can indeed also serve as a director, especially within a unitary board structure. In such cases, they take on the responsibilities of a fiduciary director, bridging financial expertise with governance duties. This dual role highlights the essential link between financial management and corporate governance within a company.
(Response: Yes, a CFO can be a director in some circumstances, particularly within a unitary board structure where they serve as a fiduciary director.)