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CFOs playing a greater role in business transformation initiatives: Deepal Shah, Allcargo Group

May 11 , 2022

Source:Economictimes

CFOs are important strategic partners and co-pilots, and provide their valuable insights to the Corporate Boards especially related to ESG policies, said Deepal Shah, Deputy Group CFO, Allcargo Group. The finance veteran highlighted that CFOs are increasingly playing a greater role in business transformation initiatives as he reflected on their role. Also, he shared his outlook on what the role looks like in the next 3-5 years. Shah has over two decades of wide experience in running businesses as a CEO in India and Europe, and in senior finance leadership roles. He has led international and domestic M&A, and also developed international alliances and partnerships with some of the biggest entities. Below are the edited excerpts from the interaction.

Q: How do you assess the role of the CFOs today?

Deepal Shah: They are more into financial planning and analysis with lots of initiatives going around in every organization. For instance, the agency theory requires the agents (CFOs) to create more value for the principal (shareholders) through improved financial decision-making.