A new study cites an increase in finance executive turnover – largely attributable to Sarbanes-Oxley. The headhunting firm Russell Reynolds Associates found a marked increase in CFO and Controller turnover. While Treasurer turnover is also increasing, it is doing so at a slower rate.
Excerpt from CFO Magazine
Many CFOs express a "get me out of here" attitude, voicing ongoing
frustration about being too consumed with regulatory compliance and not
having enough time to focus on corporate strategy and operational
finance projects, according to Hack. "Many CFOs resent the accounting
handcuffs of the job and mourn the loss of their role as financial
consigliore to the CEO," the study concludes.
Graphic: Increasing Turnover
Source: Russell Reynolds Associates, as quoted by CFO.com
Sarbox Burdens Prompt CFO Job Churn
Marie Leone
CFO.com
June 09, 2006
Russell Reynolds Associates website
During her time at Glenbrook, Erin focused on client engagements in business payments, cross-border transactions, bill payment, and the intersection of corporate finance, banking, and ERP/accounting. She has nearly twenty years of experience leading increasingly complex payment initiatives for corporate clients and advising financial institutions and payment technologists on the development of their payment capabilities.
Erin is also the founder of Forte Financial, a consulting firm focused on corporate finance efficiency, technology, and process improvement. She is a past president of the Financial Women’s Association of San Francisco and also a two-term past president of the San Francisco Treasury Management Association. Erin is no longer with Glenbrook, but contributed greatly during her time at the firm.