Many companies are passing over controllers when filling vacant CFO posts. Should controllers be worried?
Not so long ago, when Thomas Henne was an up-and-coming divisional controller at ZF Friedrichshafen and was taking part in a management development course with 25 "high potentials" from other parts of the company, a thought suddenly occurred to him: "There's no other job better than the one I have." Today, the 42-year-old, who was promoted to group controller of the €12 billion ($16.1 billion) German car parts supplier, earlier this year, hasn't changed his view, despite the growing post-Enron pressures and governance drudgery that many HR experts say have been bogging down executives like him.
"Working within a network of controllers," he says, "is probably the best and richest way that you can be a part of the decision making in a company." As for the rigors of corporate governance and a more stringent regulatory environment, he says it hasn't had a negative impact on what he believes should be the controller's main job — providing sound investment guidance for the rest of the company.
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But while it's the type of work — and attitude — that earns controllers praise from their CFOs, there's still a big question controllers need to ask: what next?
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