PracticeConsultingOne in four CEO’s now have finance qualifications, says survey

One in four CEO's now have finance qualifications, says survey

Accountants have dramatically tightened their grip on the boardrooms of FTSE 100 companies over the last decade, according to a new survey.

Research into FTSE 100 companies by recruitment solution company TMP Worldwide Executive has found the number of CEOs with finance qualifications has risen from under 10% in 1990 to 25% in 2000.

TMP Worldwide executive search UK managing partner, Andrew Simpson, said: ‘The transformation in the leadership of FTSE 100 companies over the last decade has been dramatic. Companies are now looking further afield than they did 10 years ago for leaders who can deliver in an increasingly competitive market.’

The increasing trend for accountants to take top management posts in high profile companies is also apparent outside the FTSE 100.

Last week Newcastle United Football Club named David Stonehouse, the finance director of bitter North-East rivals Sunderland, as its new chief executive.

Liverpool signed former Newcastle FD Les Wheatley, formerly of Ernst & Young, tooversee its forthcoming £400m floatation.

Meanwhile a trio of chartered accountants have been appointed at the Alchemy-owned MG Car Company.

Deloittes Haskins & Sells trained Graham Hallworth will be group finance director, while former chairman of Coopers & Lybrand, Brandon Gough is set to become the renamed company’s non-executive chairman.

Jon Moulton, senior partner of Alchemy, is also a chartered accountant who spent most of the eighties working at Coopers & Lybrand.

management sector – confirmed by a rash of high profile accountancy appointments at MG motors and Premier League football clubs.

Eight out of ten finance directors say they are working ‘too hard’

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