Gary McGaghey is a CFO with vast experience in the corporate industry. As the CFO, he is responsible for managing the financial activities of companies. Managing financial activities of organizations will change in 2021 since Congress is pushing for tax policy reforms. The changes mean that CFOs should embrace themselves for a totally challenging task. The CFOs are preparing themselves by debating how they will navigate the anticipated changes. The CFOs plan to discuss tax, risks, regulation, future of work, digital transformation, purpose and ESG, return to growth, and diversity and inclusion.
CFOs expect corporate tax policy changes as it has been one of the top agendas of the Biden Administration. For instance, Congress plans to increase the corporate tax to 26.5%, which means that CFOs should help companies plan for the future. As the financial managers of the companies, they will use the information to guide the corporate leaders on how to make sound financial decisions. The other anticipated aspect that will change is a shift to digital platforms. The digital world is transforming every part of business, and CFOs believe that the future will be characterized by automation, data digital data analytics, cloud, and customer satisfaction.
The Covid-19 pandemic has disrupted the corporate world economically. Companies are starting to cover from the economic ruin, and CFOs believe that one thing that will change is the focus on growth. CFOs will be responsible for making financial decisions that will help increase the revenue of companies. Understanding how to rebuild revenue by discovering new investment opportunities will make the work of CFOs challenging.
Gary McGaghey currently serves as the CFO of Williams Lea Tag. Before joining Williams Lea Tag, he served as the CFO, Chief Operating Officer, Vice President of Logistics, and Audit Committee Member of top companies, including Unilever, Nelsons, and Robertsons. Gary McGaghey understands the changes in the tax policy landscape and believes integrating technology will streamline the roles of a CFO. Digital transformation is one of the topics on the CFOs agenda.