The country's best chief financial officers (CFOs) were honoured at BW Businessworld-YES Bank Best CFO Awards 2015-16 in New Delhi on Friday (8 April).
Union Railway Minister Suresh Prabhu, who was the chief guest at the function, said: "In the new economic world managing finance has evolved as one of the key functional areas in every organisation and so is the role of the CFO."
“Not just in private sector but in the public sector as well, the role of CFOs has changed considerably. For instance, billions of dollars will be invested in the real estate sector in the near future. To manage such a large financial books, the role of CFO will be very crucial,” the minister said.
He went on to add that the role of CFOs is not just limited to the management of finance but contributing in every crucial decision-making of the company.
“In the recent economic downturn, CFOs showcased how vital they are for the companies. From maintaining positive cash flow to cost, many CFOs have emerged as the face of the company,” he said.
The award for the best overall CFO went to Naresh H. Bhansali, CFO and CEO-Finance, Strategy, Business Development, Emami. There was also a category for the best woman CFO, which was bagged by Castrol’s Rashmi Joshi.
BW Reporters
The author is Senior Correspondent with BW Businessworld
