One in six Fortune 1000 companies have no CFO
Research shows 158 of the top US companies had no CFO at some point during the first half of 2008
The rate of churn for CFOs in the US continues unabated with nearly one in
six Fortune 1000 companies having a vacancy for the position in the first half
of the year.
Research from recruiters
Hedrick & Struggles
showed that from the start of the year until the end of June 106 CFOs left their
positions at top US companies, with a further 52 positions empty at the start of
The number shows an increase over the same period last year, when 104
positions were vacated and 46 were already open at the start of 2007.
Of those that left their roles this year 30% retired, more then half got out
of finance altogether and 20% moved within their current company. Given the
current economic climate, it is uncertain how many chose to retire and how many
were shown the door.