Job Moves Account for Just Half of CFO Turnover
Published by claudia April 24th, 2007 in SOX, Section 404, North America, Accounting rules, small business, Sarbox Tags: cfo, cfos, chief financial, financial executive, right management, sarbanes oxley.Fifty percent of the CFOs who left companies did so for reasons other than finding another job. Those included inability to fit culturally into the organization, the increasingly stressful demands of the position and lack of current knowledge related to Sarbanes-Oxley, according to a survey by Right Management.
CFOs lasted in their positions for more than five years at 48 percent of the 191 organizations surveyed. However, CFOs stayed in their jobs for less than three years at 25 percent of companies. It typically takes between three and five months to replace a departing chief financial executive, according to the survey.
Respondents included primarily human resource managers and executives at mid-sized to large organizations in all industries.
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