Shareholders and board members should brace themselves for record turnover among chief financial officers this year, according to a survey from executive services firm Tatum LLC.Based on a poll of more than 150 of Tatum’s Executive Practice partners (who now provide interim or permanent leadership to client organizations), the survey results suggest that Sarbanes-Oxley-related headaches unrealistic demands from board members and chief executives will drive more than 2,300 chief financial officers from their positions in 2007.
“Corporate America may soon find that creating shareholder value is impossible with what is quickly becoming an itinerant chief financial officer," said Tatum chairman and chief executive Richard D'Amaro, in a statement. "Many CFOs are fired or resign not because they weren't a good match for the company when they were hired 20 months ago, but rather because the business has evolved so quickly that their capacity and capabilities are no longer an ideal match for the company."
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