CFO turnover rising, analyst firm reports.Anecdotally, there's considerable turnover in the CFO See Chief Financial Officer. ranks, and statistically, the pace of change increased in the last months of 2005. So says Liberum Research of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , which includes CFOs in a broader analysis of C-level changes that it issues, as well as breaking out CFO changes separately. Included in the database are CEOs and board of director seats. Based on Liberum's numbers, the most active months for CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. changes were October, November and December; for CFOs, it was March, November and December. In total, there were 1,855 CFO changes recorded by Liberum last year, compared to 2,106 CEO changes. Overall, the most active industries for all top-level changes were drugs/biotech, with 1,382 changes in 2005, followed by banking with 1,330 and manufacturing with 1,168. [ILLUSTRATION OMITTED] Liberum (http://liberum.twst.com) also broke down the sources of change: 44 percent were hew hew v. hewed, hewn or hewed, hew·ing, hews v.tr. 1. To make or shape with or as if with an ax: hew a path through the underbrush. 2. hires; 28 percent were internal promotions, 14 percent resigned or retired; 11 percent were internal moves and 2 percent left without clear explanation or were terminated. Incidentally, Liberum isn't just in the data tabulation tab·u·late tr.v. tab·u·lat·ed, tab·u·lat·ing, tab·u·lates 1. To arrange in tabular form; condense and list. 2. To cut or form with a plane surface. adj. Having a plane surface. business. It believes that "certain management change events offer a unique insight into a companies [sic] situation, and thus a trading opportunity for a sophisticated investor." As a result, it sells its research--including an email product service aimed at "event-driven hedge funds, proprietary trading Proprietary Trading When a firm trades for direct gain instead of commission dollars. Essentially, the firm has decided to profit from the market rather than commissions from processing trades. desks and institutional investors" and a monthly newsletter. Busiest CFO Change Periods in 2005 March 186 November 199 December 213 |
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