What to Do When the CEO Isn’t Listening

Plus what to do when you’re stepping up but not yet officially in charge.

Author

Wassia Kamon
May 29, 2025

My take on business news stories through a CFO lens to sharpen your strategic thinking and executive brand. Plus, off-the-record career lessons and Q&A, every other week.

Hey 👋🏽,

We often forget that the main “client” of a CFO is the CEO.

They’re the one hiring for that spot, and once you’re in the role, they shape how much space and support you actually get to do your job well.

That relationship isn’t always easy, and it’s not talked about enough.

Today, I am answering 2 important questions:

  • How to challenge a CEO on their spending

  • How to signal you’re ready to step up when a CFO leaves.

Before we get into that, here’s what’s inside this edition:

Let’s dive in ⤵️

What This Tells Us:

The downgrade may not impact day-to-day operations right away.

But it’s a reminder that market confidence is fragile and CFOs need to be the ones running the downside scenarios before others ask.

Lenders are paying attention. Boards are too.

And if you’re carrying significant debt or planning to refinance soon, the assumptions you made 6–12 months ago may no longer hold.

What I’d Be Asking as a CFO:

  • How exposed are we if credit conditions shift in the next 12 months?

  • What are our borrowing assumptions in the next 5 years?

What I’d Be Doing as a CFO:

  • Be ready to explain to your CEO and board why “still investment grade” doesn’t mean “no risk”

  • Recheck our maturity schedule, interest rate mix, and refinancing plans

  • Tighten the capital story in our board materials to show a clear plan for debt, not just spend

  • Push treasury and FP&A to run updated downside models, even if no one’s asking yet

Extras I’ll Bookmark

💡 Mark Your Calendars!!!

The dates for the next cohort of the The Finance Executive Accelerator are here!!!

We will meet on Fridays August, 15th, 22nd, and 29th - from 12:30pm to 1:30pm ET.

If you’re aiming for a VP, CAO, or CFO role in the next 5 years, but don’t want to go back for another degree or certification, this is for you!

Space is limited to keep the experience high-touch. Join the waitlist to secure your spot.

Here are the testimonials from the February cohort.

💡 Quarterly Deep Dive

A deep dive on how to become more strategic even when you are pressed for time.

On The Record

Why Treasury is More Than Managing Cash, with Matthew Harlan

Treasury often works behind the scenes, but Matthew Harlan shows why it should be a key player at the table. We cover what treasury leaders bring to IPO readiness, how to rethink working capital, and how finance teams can collaborate better across functions.

From Combat Zones to Corporate Finance: Stephen McLain on Leading in High-Stakes Environments

Stephen McLain built internal controls in Iraq to fight fraud and misuse of funds. And, he defended military budgets in front of NATO.

Now, he helps corporate finance and accounting teams fix problems with their internal processes, financial modeling, and strategy development.

Off The Record

Question:

“How to connect with a CEO who is not into the detail and cannot control their own spending?”

My Answer:

3 things I would do:

  1. Don’t just show them where they overspent. Show them what the consequence is.

For example: “Here’s where we are. If we continue this pattern, we reduce our cash runway by X months and may miss our hiring plan or debt service target.”

  1. Find the one metric or stakeholder they value a lot to strengthen your message.

It could be around investor perceptions, governance committee, etc.

  1. Suggest alternatives and document your recommendations.

For example: “We can move forward on this, but here are two things we’d need to pause or delay to make it work responsibly.”

If you’ve delivered the truth and the board or CEO chooses to ignore it, document it.

Because, at the end of the day, there is only so much you can do.

Question:

“I’m a controller. The CFO I was reporting to left, and now I’m taking over some of their work. How do I move from operational tasks to strategy?”

My Answer:

This is really about positioning yourself, either for the CFO role now or for the next time it opens.

If you feel ready, the goal is to move quickly and have a conversation with your CEO.

Not to ask, “Can I be the CFO?” but to say, “Here’s where I am. Here’s what I know I need to grow into that seat. And here’s what I’ve already started doing.”

Start by getting a sense of how others see you.

If possible, connect with the outgoing CFO and ask for direct feedback. You’re trying to understand both your strengths and the perception gaps that might hold you back.

Then ask for the right support. You’re taking on more, so requesting interim help through staffing, CAS, or external project support is reasonable. It also shows that you’re thinking like an executive, not just covering tasks.

If you’re not quite ready for the CFO seat, that’s fine. (Though I’d challenge that)

Be proactive. Let your CEO know you want to grow into the role over the 3-5years. You’re asking them to be intentional in hiring someone who can mentor you and give you resources and exposure to the areas you’re still building.

Either way, this is a career-defining moment, and I’m excited for you.

If you’re not already working with an executive coach or part of a CFO peer group, this is the time to get that in place.

I made the jump from controller to CFO last year, and having that kind of support helped me move faster and with more confidence.

Got a question? Just hit reply to this email or complete this form.

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If you working on becoming a VP of Finance, CAO or CFO within the next 5 years, check out The Finance Executive Accelerator (Formerly known as The Office of The CFO Bootcamp) or schedule a 1:1 call with me.

That’s it for today.

See you next time👋

Wassia

DISCLAIMER: The advice and insights shared in this newsletter are based on personal experience and general industry knowledge. They are not intended to replace professional financial, legal, or career counsel. Your situation is unique, and what works for one person may not work for another. Before making significant career or financial decisions, consult with qualified professionals familiar with your specific circumstances. I am not liable for any actions taken based on the content of this newsletter.

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