Monday, November 29, 2004

Disgruntled CFOs are calling it quits

The push for better ethics and transparent accounting in corporate America, including the drive to pass the Sarbanes-Oxley law in 2002, has had an unexpected side effect: More finance chiefs are calling it quits.

"Coping with the pressures of Sarbanes-Oxley even as they try to guide companies through a recession has put an enormous strain on CFOs and their staffs," said Julia Homer, editor in chief of CFO magazine.

It has also taken the fun out of the job.

"Sarbanes-Oxley has turned CFOs into scorekeepers rather than players, and they just can't be strategic anymore," said Eleanor Bloxham, co-president of the Corporate Governance Alliance, a consulting firm in Westerville, Ohio.

Disgruntled CFOs are calling it quits

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