Surge in FD departures hits FTSE100

There has been a surge in the number of FDs leaving their jobs in 2005, according to new research by KPMG.

Link: Emap FD departs

In the first 14 weeks of 2005, eight FTSE100 FDs said they would leave their jobs, the Big Four firm says. That compares with a total of 11 finance directors who left their jobs in FTSE100 companies in the whole of 2004.

Alan Buckle, head of Risk Advisory Services at KPMG, said: ‘The number of FTSE100 finance directors leaving their jobs is clearly much higher than normal, and is of concern. From the outside, it can be hard to tell… but there are sometimes examples when it appears the FD is being blamed for others’ mistakes.’

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