Good morning. The role of the CFO continues to evolve from that of a financial steward to a strategic architect. As a result, most finance chiefs find themselves working in a broad range of different areas within a company.

A new report from Brex, a fintech company valued at $12.3 billion, explores how the rapid pace of change has surpassed traditional planning cycles and even job descriptions. A survey of 500 senior finance executives—C-suite, VP, and director levels—across global enterprises found that 95% said their roles have expanded well beyond traditional finance functions.

I asked Ben Gammell, Brex’s CFO and president, if the findings resonated with him. “Yes, and it was validating to see that reflected so widely in the report,” Gammell told me. “My responsibilities at Brex have grown meaningfully over time, most recently with the addition of the president role alongside CFO.”

He’s grateful for the opportunity to grow in step with the company, with his role naturally expanding into areas like marketing, business development, sales, and operations, Gammell said, adding that it’s helped him to “bring a broader, more integrated perspective to the finance team.”

Gammell began at Brex as VP of operations, then chief of staff to the CEO, leading to his current role. “Each of those roles has shaped how I lead today and made me a more empathetic CFO,” he told me. “Having sat in the seat of many different functions, I have a deeper appreciation for the challenges and trade-offs each team faces.”

According to Brex’s survey, most respondents indicated they now have a greater focus on AI adoption and strategy. Finance leaders are under pressure to not only adopt AI but also prove its impact on productivity and measure ROI. 

CFOs can navigate this responsibility by leveraging their relationships with business unit leaders, encouraging them to explore AI opportunities, and consistently following up in subsequent interactions, McKinsey research finds. “The most important action that CFOs should take is to identify the largest opportunities for value creation—and then make sure that they receive the money and other resources that they need,” according to the firm.

As the CFO role becomes more complex, 86% of surveyed organizations now have a chief accounting officer (CAO) in place to help manage the day-to-day rigor of financial processes, according to Brex’s survey. Nearly half of those CAOs were hired within the last 12 months. Even with help, half of finance leaders reported having significant control over investment decisions across the organization.

The survey also finds that the new wave of tariffs announced in early April triggered a sharp rethink inside finance organizations. Respondents’ positivity around company growth dropped 18 points, from 93% to 75%, compared to sentiment at the beginning of 2025.

Sheryl Estrada
sheryl.estrada@fortune.com

Leaderboard

Fortune 500 Power Moves

Peter Hadley was promoted to CFO of ADP (No. 228), a global technology and HCM company, effective July 1. Hadley succeeds Don McGuire, who has served as CFO since 2021. McGuire will remain available through Sept. 30 to support the transition. Since 2022, Hadley has served as corporate VP and treasurer of ADP. He was previously president of Asia Pacific and also served as CFO for ADP’s Global Enterprise Solutions and Employer Services International. Hadley joined ADP in 2002. 

Steve Priest, CFO of eBay, Inc. (No. 390), a global commerce provider, is leaving the company, effective May 11. Priest will remain in an advisory position until July 31. Peggy Alford was appointed the next CFO. Alford is a former EVP of global sales and merchant services at PayPal. She will join eBay in an advisory capacity on May 5, and begin her CFO tenure on May 12.

John Woods, vice chair and CFO of Citizens Financial Group, Inc. (No. 337) is departing from the company to accept another opportunity. Woods is expected to leave in August 2025. The company will initiate a formal internal and external search for a CFO. 

Every Friday morning, the weekly Fortune 500 Power Moves column tracks Fortune 500 company C-suite shifts—see the most recent edition. 

Big Deal

As earnings season continues, on Wednesday, Microsoft released its results for the quarter that ended on March 31. Quarterly revenue was up more than 13% year over year to $70.1 billion and net income reached $25.8 billion, up 18%. Microsoft Cloud was $42.4 billion in revenue, up 22%.

“We expect CapEx to grow,” Microsoft EVP and CFO Amy Hood said on the earnings call. “It will grow at a lower rate than FY 2025 and will include a greater mix of short-lived assets, which are more directly correlated to revenue than long-lived assets.” These investments and “focused execution” ensure that “we continue to lead through the cloud and AI opportunity ahead,” Hood said.

When asked on the call if Microsoft would fare well in a potential recession, CEO Satya Nadella said that software could essentially help companies manage any turbulence.

“I think if you sort of buy into the argument that software is the most malleable resource we have to fight any type of inflationary pressure or any type of growth pressure where you need to do more with less,” Nadella said. “I think we can be super helpful in that. And so, if anything, we would probably have more of that mindset: How do we make sure we are helping our customers? And then, of course, we’ll look to share gains.”

Going deeper

“Stocks close mixed on news of GDP decline, recession fears grow” is a Fortune report by Alicia Adamczyk. 

From the report: “News of the economy’s 0.3% Q1 contraction—which came before the full effects of April’s tariffs are even accounted for—sent indexes tumbling early Wednesday as recession fears increased, though the S&P and Dow Jones recovered by the end of the trading day. The Commerce Department’s announcement of a contracting economy is due to business uncertainty around Trump’s tariff plan and slowing consumer spending.”

Overheard

“Stablecoins are strengthening the dollar’s role abroad at a time when there is a lot of speculation around its future.”

—Chris Maurice, the CEO of Yellow Card, a licensed stablecoin payments company, writes in the Fortune opinion piece, “The U.S. dollar’s strongest ally is crypto.”