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Half of the chief financial officers (CFO) working in New Zealand’s leading businesses say they have been meeting or exceeding their performance targets over the past year, while the rest face stagnation or decline.
The second annual Hunter Campbell Mood of the CFO indicates those working in profitable businesses were feeling more optimistic about the coming year, though 92 percent expect there to be ongoing big-picture economic challenges.
“Competitive markets, cost pressures, and workforce concerns remain front of mind,” Hunter Campbell managing partner Lee Marshall said.
“Smaller organisations have performed better over the past year, yet it is larger enterprises that are more confident in the global outlook.”
Infometrics chief executive Brad Olsen said there had also been an uptick in the number of CFOs expecting an improvement in the New Zealand economy, with 38 percent expecting to seem modest to strong growth compared with 31 percent last year.
“The proportion of CFOs who are pessimistic about their own outlook has fallen from 17 percent in 2024 to 5 percent in 2025, pointing to a more upbeat view of the economic recovery,” Olsen said.
“However, uncertainty over the global economic outlook has also increased, with 17 percent of CFOs reporting they are unsure about their expectations for the world economy over the next year – up sharply from 5 percent reporting the same in 2024.”
Olsen said nearly a third of CFOs expected an improvement in global economic conditions, while a third expected little change.
“These challenges around uncertainty are taking up an increasingly large amount of attention from CFOs, with 77 percent of CFOs saying that economic uncertainty or market volatility would be a key driver of company performance over the next year.”
Tax policy changes sought
Marshall said the survey also found four-in-five CFOs want wholesale reform to ease compliance and simplify tax, with female CFOs and those over 55 years most skeptical of government’s understanding of business realities.
CFOs aged 45-to-54 were slightly more optimistic, though overall confidence in the government’s responsiveness remained low.
Technology investment continued to rise.
“While only 16 percent report meaningful impact from AI today, two-thirds expect it to reshape team structures within two years,” Marshall said.
“Data analytics and automation are seen as the most valuable applications, with services industries experiencing the most disruption to date.”
However, ongoing budget constraints, training and data migration challenges were slowing the adoption of new technology.
“Talent remains under pressure. Succession planning is the weakest link, with just one-in-four CFOs confident their organisation is ready for leadership transitions,” Marshall said.
He said there was also a growing generational divide between younger and older CFOs.
“Younger CFOs prioritise ambition in hiring, while older peers place more weight on experience.
“Hybrid work is still common, though many larger and older organisations are shifting back towards the office.”
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