Using CompanyIQ SEC disclosure data, we analyzed CFO tenure in the Russell 3000 (R3000), S&P 500, and Dow 30 indices. Among our findings: Average tenure across six indices was 5-6 years. Nearly two-thirds of Dow 30, S&P 500, and R3000 CFOs have been in the position five years or less. One of the longest-serving CFOs…
Boards often devote plenty of time to succession planning and the compensation aspects of the CEO position, but a key piece involves the second in command. Even if the new CEO pick is the right choice, changes at the top can destabilize the C-suite, particularly if the CFO isn’t meshing with the CEO or feels…
Chances are the executive who serves as the right hand to the CEO and key liaison to the audit committee is considering their options, experts say. The Covid-19 pandemic and increased pressure to balance strategic issues such as environmental, social and governance factors with careful capital allocation, growth opportunities and liquidity management is increasingly driving…
Finance executives at America’s biggest companies received a collective 7% pay rise last year as many of them steered their firms’ finances through the pandemic, though not all saw their compensation increase. Chief financial officers at the largest 100 companies in the S&P 500 by market capitalization that disclosed executive pay through April 12 received…
The struggles of Greensill Capital have shone a light on the increasing use of supply-chain financing, a tool that gives companies the ability to extend their payment terms to vendors. Regulators and standard-setters are closely watching if and how companies disclose their use of the financing tool, which has come into focus amid the recent problems…
More chief financial officers resigned from large U.S. companies in 2020 than in previous years, as the pandemic put pressure on corporate balance sheets and the executives who manage them. Thirty-seven companies in the S&P 500, including General Motors Co. and HP Inc., last year said that their CFOs would quit, up 27.6% from 2019. The figure for 2020 is higher…
Three large U.S. companies this week said goodbye to their chief financial officers, continuing a surge in CFO departures following months of relative stability. The Wall Street Journal reports that so far this year, 83 CFOs at Fortune 500 companies have left their posts, compared with 84 last year at the same time. But it took several recent departures…
Finance chiefs are changing jobs again after a slowdown in exits and recruitment in thespring, as the pandemic is forcing them to rethink their business models and adding to an already high workload. Three big public companies this week said their CFO would exit. General Motors Co.’s Dhivya Suryadevara is joining Stripe Inc., while Kelly Kramer,…
CFOs saw an increase in pay last year as responsibilities for non-financial issues, including operations and strategy, expanded, sources say. Moreover, the Covid-19 pandemic is driving a redoubled focus on operations and emergency planning from CFOs, and some companies are bringing in battle-hardened finance veterans to tackle the issues related to the crisis. However, it…