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The Wall Street Journal – Grant Clayton – Short CFO Tenures Send Bad Signals
High CFO turnover can cause major damage to companies and finance executives’ careers, reports The Wall Street Journal. In addition to declining stock prices, high CFO turnover may entail extra compensation costs for companies and contribute to operational problems. Commonly cited reasons for hasty CFO departures include a lack of chemistry with the CEO and miscues over responsibilities. “What the CFO role looks like can vary quite a bit from company to company,” notes Egon Zehnder consultant Grant Clayton. Although isolated swift exits are not a problem, more than one short CFO stint can harm a finance leader’s career, he warns.
Full story: Alix Stuart: A Quick CFO Exit Can Spell Trouble in The Wall Street Journal (1 August 2016).