Finance Chiefs Are on the Move as Pandemic Adds Strain
By: Wall Street Journal
August 14, 2020
Finance chiefs are changing jobs again after a slowdown in exits and recruitment in thespring, as the pandemic is forcing them to rethink their business models and adding to an already high workload.
Three big public companies this week said their CFO would exit. General Motors Co.’s Dhivya Suryadevara is joining Stripe Inc., while Kelly Kramer, the finance chief of Cisco Systems Inc., plans to retire. Avis Budget Group Inc. on Thursday said finance chief John F. North III would exit the company to pursue other interests.
The number of CFO departures at companies in the S&P 500 and Fortune 500 has crept up in recent weeks following a slowdown in the spring. Eighty finance chiefs left their positions through Aug. 1, compared with 84 at this point last year, according to the Crist|Kolder Volatility Report, which tracks recruitment trends in corporate leadership.
In total last year, 129 CFOs in the S&P 500 and Fortune 500 left their job, buoyed by a strong stock market that made equity compensation more attractive.
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