CFOs are more vulnerable in companies headed by founder CEOs

03/3/2010 |

More than eight out of 10 CFOs who work at companies headed by a CEO-founder lost their jobs after a restatement, according to a study of 96 public companies that experienced restatements between 1997 and 2006. CFOs departed about 60% of the time at companies where the founder CEO stayed on the job, in contrast with 30% of the time at companies that retained nonfounder CEOs.

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