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Stock impact report

Even $10 billion companies are struggling to find their next CFO: ‘You're starting to see more churn' [Fortune]

SolarWinds Corporation (SWI) 
Last solarwinds corporation earnings: 4/30 04:05 pm Check Earnings Report
Company Research Source: Fortune
Deloitte's Q2 2024 CFO Signals survey released this morning found that about 25% of firms have no formal succession plan in place. And among those that said there isn't a plan, 28% of those respondents were from enterprises earning at least $10 billion in revenue. The survey included 200 CFOs at firms making at least $1 billion in annual revenue, with respondents from the U.S., Canada, and Mexico. More than 60% of the CFOs represent public companies. I discussed the findings with Steve Gallucci, Deloitte's global and U.S. CFO program leader, who said the data certainly caught his attention. “You're starting to see more churn in the CFO role, and one would think that it would cause companies to ramp up succession planning ,” he added. However, the role of CFO continues to evolve “at a very fast clip,” he told me. For some companies seeking a finance chief, what he's hearing is that CEOs and boards are realizing they need an executive with different skill sets beyond those of a t Show less Read more
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