X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CFO turnover reached new heights early this year, in sharp contrast to relatively stable rates for most of 2007. Resignations and retirements were up 15% in January and February from a year earlier, according to data compiled by Liberum Research. Some 110 CFOs resigned or retired in the first two months of this year, up from a total of 95 in 2007. “The pressures that have come to bear on CFOs are tremendous,” notes Susan Rucker, COO of executive services firm Tatum LLC. “Many times, those pressures result in CFOs being so dissatisfied with their jobs that they leave, or [in] CEOs being so dissatisfied with CFOs’ jobs that they force them to leave.”

Of course, CFOs have been under increasing stress since Sarbanes-Oxley required them to certify the accuracy of all financial statements. “When you’re managing a staff of 100 and have operations in 30 countries around the world, the pressures are enormous,” notes Allen Geller, managing director at Raines International in New York. “It’s not just a question of knowing all the pieces; it’s a question of knowing how they all fit together.” Lately, that task has become even more daunting as the downside risks from such trends as the subprime credit crunch, rising commodity prices, a slowing economy and harsher penalties connected to the options backdating scandal have raised the stakes for most senior finance executives.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.