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Social Media for CFOs: The Consequences of Over-Exuberance

Social Media for CFOs: The Consequences of Over-Exuberance

Gene Morphis, the chief financial officer of Francesca's Holdings Corporation, was recently fired after he "improperly communicated company information through social media," the fashion retailer said in a statement.

The Wall Street Journal reports that on his twitter account on March 6, Morphis tweeted about having dinner with board of directors, saying such meetings "used to be fun. Now one must be on guard every second."

The next day, Morphis reportedly tweeted that the board was happy due to good numbers, according to the Journal. Morphis had served as CFO since October 2010, after previously holding the title at David's Bridal and the Rowe Companies.

Eric B. Meyer, an employment lawyer in Philadelphia, told the news source that while employee social media use is standard, there are limits to what information can be shared.

"It's understood by employers that employees are going to use social media, but hopefully they won't run afoul of their company's rules and potentially harm the employer," Meyer noted.

Bloomberg reports Cynthia Thomassee, controller and vice president of accounting, will take over as interim CFO while the company searches for a permanent replacement.