Have Spreadsheet, Will Travel.

• Author: Gray, Carol Lippert

Is it possible for CFOs to jump industries -- to go from widget manufacturing finance, say, to movie studio finance? It is if you're Chuck Martin, who's worked in publishing, entertainment, wholesale food distribution, Las Vegas theme park and now multi-level marketing finance. "Nothing is necessarily unique about any one particular industry," says Martin, CFO of Equinox International in Las Vegas. "There may be jargon differences, but everything goes according to GAAP. Treasury management and banking relationships may have different twists. But if you're familiar with a particular FASB [regulation], number 13 for leases will be the same across the board." And Martin makes industry-hopping sound like the norm. "I've never had the opportunity to apply for a job in an industry in which I've had experience," he laughs.

General Practitioners

"For a while, it was in vogue to be specialized," says Cecil Gregg, executive director of RHI Management Resources. "But accounting requirements are fairly universal. Being technically competent is what's important."

"Technical skills and certain behavioral competencies -- analytic, computational and regulatory" -- are what companies look for, agrees Paul Platten, Ph.D., head of the Boston human resources consulting practice for PricewaterhouseCoopers. "In years past, industries had very bright lines between them. But organizations these days aren't hierarchical; they're team-oriented," he says. "They reward people who can manage by influence rather than by decree; people who can translate financial information to strategic business information; who can plan and set goals; and who can take part in non-financial discussions about business issues. They want people who bring a finance perspective but aren't limited by it."

Some companies remain industry-centric and adamant about wanting "someone who can pick up where the last person left off," according to Diane Albergo, Financial Executive Institute's career services manager. But "if you have well-rounded skills, a broad business background, general management skills and an understanding of business, you can make a switch much more smoothly," she adds. "The more diversified you are -- and the more entrepreneurial and business-oriented -- the easier it is to change from industry to industry."

"Generalist isn't the right word" to describe the industry-adaptive CFO, says Gregg. But regardless of labels, he thinks all CFO skill sets should include a knack for...