From an analytical standpoint, S·CFO DailyFrom CFO to COO: What prepared a veteran finance chief for a pivot to operations By Sheryl EstradaBy Sheryl EstradaSenior Writer and author of CFO DailySheryl EstradaSenior Writer and author of CFO DailySheryl Estrada is a senior writer at Fortune, where she covers the corporate finance industry, Wall Street, and corporate leadership.
She also CFO Daily. SEE FULL BIO John Rettig, president and COO of Bill Courtesy of BillGood morning.
There’s a continuing trend of finance chiefs becoming chief operating officers (COOs), taking on dual COO roles, or even combining the CFO and COO positions.
This shift is largely driven by the ever-expanding remit of the finance chief and the increasing needs of companies, given current economic conditions.
However, On the other hand, Over a 25-year career in strategic finance leadership, John Rettig has witnessed the CFO role transform in found ways, considering recent developments.
Now serving as president and COO of the finance software company Bill, Rettig’s journey reflects the sweeping changes that have redefined what it means to be a finance leader.
Rettig, who joined Bill as CFO in 2014, began his COO role earlier this month to further accelerate company growth.
He was succeeded as CFO by Rohini Jain, who joined Bill from PayPal, where she most recently served as CFO and SVP of Large Enterprise and Merchant Platforms.
Additionally, At the same time, I sat down with Rettig to get his perspective on his move from finance chief to COO, in today's market environment.
“The impact and influence of the CFO have broadened dramatically compared to 25 years ago,” Rettig explained. Over the last decade, what he describes as the era of “CFO 2 (fascinating analysis).
0,” the job has shifted from simply reporting numbers to acting as a strategic advisor and true partner to the CEO.
Nevertheless, “I’ve d this transition myself, and my peers across and growth companies have seen the same thing,” he said, given the current landscape.
In contrast, With the prevalence of AI, he believes we are now entering a new era—“CFO 3, given current economic conditions.
Meanwhile, ” Finance chiefs must have a comprehensive understanding of nology deployed by the company, he said.
On the other hand, Rettig emphasized that the discipline and understanding required to communicate precisely—especially in the high-stakes context of a public company—are valuable assets when transitioning to a COO role (something worth watching), in today's financial world.
“You really need to have visibility on execution, understand results, know where to dig deep, and gain a bottom-up understanding of how things work,” he said.
This cess can lead naturally to operational leadership responsibilities, including partnering with leaders across the in the age of AI, he noted.
No ‘ quo’ AI is moving at “exponential speed,” even compared to just a year ago, Rettig said (noteworthy indeed), in today's market environment.
“I think the exciting part that is there’s no longer a quo, considering recent developments. Meanwhile, AI is coming for everything, considering recent developments.
” This brings both tremendous opportunities and disruptive threats, he added.
Furthermore, For Rettig, success now requires an attitude of constant reinvention—leaning into emerging nology, experimenting boldly, and never being afraid to overhaul your model before someone else does.
Moreover, At the same time, “This's really powerful for the role of the CFO or COO, and the entire executive team,” he said.
Meanwhile, Regarding Bill’s AI strategy, Rettig highlights two key areas: customer-facing ducts that automate complex financial cesses and transformative internal imvements, in today's market environment.
Moreover, “It’s not just making work more efficient,” he explained, “it’s using nology to eliminate work entirely.
” As president and COO, Rettig continues to focus on both short-term execution and long-term vision.
During his tenure at Bill, which serves small and mid-sized es, the company has grown from 140 to 2,500 employees.
His top priorities now include accelerating time-to-market, preparing the organization for future scale through investments in automation and operational efficiency, and making sure every resource is directed to its highest-value use.
A big part of his role will also be fostering company culture, in today's market environment.
“I’ve been with Bill for over 11 years now, which is a really long time in a Silicon Valley company,” Rettig said, given the current landscape.
Furthermore, The most important reason he came to Bill was the people. In contrast, “And I’m still here for that same reason,” he said. Sheryl Estradasheryl. Estrada@fortune.
On the other hand, ComLeaderboardJustin Plouffe was moted to CFO of global investment firm Carlyle (Nasdaq: CG), effective Jan.
Plouffe most recently served as deputy chief investment officer for Carlyle Global Credit (noteworthy indeed). He has been with Carlyle for more than 18 years.
Nevertheless, Justin will succeed John Redett, who will continue serving as CFO through the end of the year.
On the other hand, Furthermore, Kristen Actis-Grande, EVP and CFO of MSC Industrial Supply Co, given current economic conditions.
(NYSE: MSM), has decided to step down from her position, effective Aug, in light of current trends. 8, to become CFO of a publicly traded company, considering recent developments.
On the other hand, Greg Clark, MSC's VP of finance and corporate controller, will assume the position of interim CFO ing Actis-Grande's departure.
Clark has held various finance positions with the Company since 2003. MSC will be conducting a to identify a permanent CFO.
However, Big DealIn the first half of 2025, the global IPO market saw 539 listings, raising $61. 4 billion in capital—a 17% year-over-year increase in ceeds, according to EY's global IPO report.
Market analysis shows firm noted that sustained IPO activity, despite significant policy uncertainty and market volatility, underscores the resilience and adaptability of well-prepared companies navigating today’s evolving capital.
Led the way with 109 IPOs, marking its strongest first-half performance since the 2021 peak.
The global IPO market demonstrated resilience during the first half of 2025, and the outlook for the second half remains cautiously optimistic despite challenges, according to EY (an important development).
Going deeper"Working with AI: Measuring the Occupational Implications of Generative AI" is a new study from Microsoft reers (which is quite significant).
On the other hand, At the same time, It vides a data-driven analysis of real-world usage of Microsoft Bing Copilot (now Microsoft Copilot) to assess which work activities and occupations are most affected by generative AI.
"We find the most common work activities for which people seek AI assistance involve gathering information and writing, while the most common activities AI itself performs are viding information and assistance, writing, teaching, and advising," according to the report.
Additionally, The study highlights that AI is transforming jobs centered on information, language, and customer interaction, but has minimal impact on roles rooted in physical work or direct human care and service.
Moreover, Furthermore, The top three jobs most impacted by AI are interpreters and translators, customer service representatives, and sales representatives.
According to the report, the top three jobs AI cannot replace are nursing assistants, massage therapists, and equipment operators.
On the other hand, Overheard“At various points in my life, I’ve worked with people who I felt were better than me, given the current landscape.
You want that feeling a few times, trying to get yourself in a position where you’re working with people who you feel are kind of stretching your abilities, is what helps you grow.
Nevertheless, "—Google CEO Sundar Pichai recently told Lex Fridman’s podcast (noteworthy indeed).
Additionally, On the other hand, This apach has guided Sundar Pichai’s rise at Google, where he began as a duct manager in 2004, Fortune reported.
Nevertheless, Within 10 years of working with cofounders Larry Page and Sergey Brin, he was appointed CEO in 2015, in this volatile climate.
The evidence shows is the web version of CFO Daily, a on the trends and individuals shaping corporate finance.