CFO resignations at Fortune 500 companies went up 21% during 2004 and overall turnover rose 23%, according to a study by Russell Reynolds Associates.
The global executive recruiting and assessment firm conducted a study in the first quarter of 2005 analyzing the rate of change in 2004 from 2003 among CFOs, controllers and treasurers of Fortune 500 companies.
“The increased and relentless pressures of Sarbanes-Oxley compliance and the competitive drive to beat the numbers every quarter are two factors driving rising turnover among financial officers,” said Lorraine Hack, a member of Russell Reynolds Associates’ Financial Officers Practice.
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