Key findings from the second annual Hunter Campbell Mood of the CFO Survey show improved confidence among New Zealand finance leaders for company performance in the year ahead, although the level of uncertainty in the economy is heightened, and the vast majority of finance leaders expect to battle ongoing economic challenges.
The 2025 Hunter Campbell Mood of the CFO Survey shows that 38 percent of CFOs expect modest to strong growth over the next 12 months, up from 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.”
“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,” said Infometrics Chief Executive and Principal Economist Brad Olsen.
“Nearly a third of CFOs expect improved global economic conditions, and a third expect global economic conditions to be unchanged. 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.”
Hunter Campbell, Managing Partner, Lee Marshall said the response when they launched the inaugural Mood of the CFO last year showed the importance of enabling the voices of New Zealand’s CFOs to be heard.
“This year, we’ve taken that a step further, ensuring the 2025 Mood of the CFO is ‘for CFOs, by CFOs’, with the support of a working group of some of New Zealand’s top Accounting and Finance leaders. They helped to curate the themes and shape the questions that would add the most value to the community,” said Marshall.
“CFOs have made it clear that talent remains under pressure in the finance space. Succession planning is the weakest link, with just one in four CFOs confident their organisation is ready for leadership transitions. Internal pipelines are limited, and L&D options remain thin outside the Big Four. Younger CFOs prioritise ambition in hiring, while older peers place more weight on experience, indicating a growing generational divide. Hybrid work is still common, though many larger and older organisations are shifting back towards the office.”
“This year’s Mood of the CFO report offers a compelling snapshot of the opportunities, perspectives and complexity shaping finance across New Zealand. Complexity continues to define our two-speed economy, and the role of CFOs,” said Nicola Taylor, co-founder of Tax Traders and Taxi.
“Most CFOs anticipate ongoing macroeconomic challenges, call for policy reform to ease compliance and simplify tax, and face critical decisions around AI transformation, all in an environment where some are exceeding performance targets, and others are contending with stagnation or decline. The role of the CFO has never been more important for business, for the flourishing of their team members and New Zealand.”
Other key findings from the 2025 Hunter Campbell Mood of the CFO include:
- Policy settings are a clear friction point. Four in five CFOs want wholesale reform to ease compliance and simplify tax. Female CFOs and those aged 55+ are most sceptical of the government’s understanding of business realities, while those aged 45–54 report slightly more optimism. Among all groups, confidence in the government’s responsiveness remains low.
- Technology investment continues to rise. While only 16 percent report meaningful impact from AI today, two-thirds expect it to reshape team structures within two years. Data analytics and automation are seen as the most valuable applications, with services industries experiencing the most disruption to date. ERP system rollouts are common but often hindered by budget, training, and data migration challenges.
- Board relationships are generally strong, particularly in financial oversight. However, performance in succession planning, diversity, and leadership development continues to lag, most notably in blue-collar sectors and among CFOs nearing retirement.
- Strategically, CFOs are thinking long-term and emphasising adaptable and sustainable growth. The right people, technology, and leadership structures are essential to navigate the current market.
More insights here
