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CFOs Prefer Separate CEO and Chairman

Chicago (October 13, 2008)

By WebCPA staff

An 83 percent majority of CFOs favor separating the roles of CEO and chairman, according to a survey by Grant Thornton.

The survey, of 688 CFOs and senior controllers, also found that 66 percent believe the average CEO is overpaid, but only 25 percent feel the same way about their own company's CEO. Fifty-five percent of the respondents say they would like to be CEO of a company one day.

Among CFOs and senior comptrollers of public companies, 70 percent responded yes when asked whether the SEC should enhance the 8-K rules to require explanations for all company dismissals of auditors, for all auditor resignations and for all instances in which the auditor chooses not to stand for reappointment.

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When the same group was asked whether shareholders should have greater access to the proxy in order for them to nominate directors more easily, 63 percent responded affirmatively. Asked whether shareholders should be able to access the proxy online, 94 percent said yes.

 

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