Welcome again to guest blogger Dick Hissam, Tatum’s National Managing Partner. He has written about
In the past ten years, the CFO Role has continued to grow in breadth and complexity with the advent of SOX and other regulatory requirements, and turnover has reached historical levels. Most CFOs are now making do with increasingly slim staffs, setting the stage for additional turnover.
What makes CFO turnover especially problematic is that companies, especially those in the middle market, typically lack someone on the finance team with the technical knowledge, political savvy and strategic perspective to step into the role, even for the short term. CFOs must navigate complex market conditions, meet stringent regulations, mentor staff, support business lines, satisfy investors and provide day-to-day financial leadership. These
If your company is experiencing a CFO transition, either planned or unplanned, there are predictable areas of
Understand the Impact of a CFO Transition
The CFO serves as a company’s financial steward and watchdog, providing business strategy support, horizon watching, insight and analysis into financial and operational performance. During a CFO transition, the Controller will most likely be able to maintain daily
A CFO transition can also impact the organization’s credibility with outside stakeholders, such as investors, lenders and private equity owners. During a CFO vacancy, companies must assure stakeholders that risks will be mitigated
