Chief financial officers (CFOs) are staying in their jobs longer, Robert Half Management Resources survey reveals. When executives were asked what they thought was the tenure for a CFO, the average response was 12 years. By comparison, the average response was nine years in 2006 and eight years in 2000.
Five percent of CFOs say they estimate the average tenure of a company's top executive to be four years or less, compared to 14% whose responses fell into the category in 2000. Nineteen percent of executives interviewed think CFOs are likely to stay on the job 16 years or longer.
"A company's success or failure is more dependent on its CFO now than at nearly any time in the past," comments Paul McDonald, executive director of Robert Half International. "While the CFO role is extremely demanding, particularly in times of financial crisis and increased regulatory mandates, it carries with it significant professional rewards, including direct involvement in all aspects of company management, from corporate strategy to business development."