A new study cites an increase in finance executive turnover – largely attributable to Sarbanes-Oxley. The headhunting firm Russell Reynolds Associates found a marked increase in CFO and Controller turnover. While Treasurer turnover is also increasing, it is doing so at a slower rate.
Excerpt from CFO Magazine
Many CFOs express a "get me out of here" attitude, voicing ongoing
frustration about being too consumed with regulatory compliance and not
having enough time to focus on corporate strategy and operational
finance projects, according to Hack. "Many CFOs resent the accounting
handcuffs of the job and mourn the loss of their role as financial
consigliore to the CEO," the study concludes.
Graphic: Increasing Turnover
Sarbox Burdens Prompt CFO Job Churn
June 09, 2006
Russell Reynolds Associates website