Do you think finance departments are the best place to train future CEOs? Provide two actual examples of CFOs of
publicly-traded companies who became CEOs of publicly-traded companies within the past 5 years. Do these
individuals have the CPA and/or CFA designations?
Include a discussion of both the pros and cons of hiring a CFO to be CEO. Try to cite at least three articles in your paper in
support of your arguments in favor of and against hiring a CFO to be a CEO. Remember to include a reference list and to
refer to the articles you use in the body of your paper.
In the business world, when referring to a company's "Bottom Line", they are referring to
the costs and profits of the company.
When it comes to any for-profit business, a successful
bottom line is the focus for success, and all investors really care about.
Who leads a company to
a successful bottom line?
The top three executives selected, by the Board of Directors, to lead
the organization; Chief Executive Officer (CEO), Chief Finance Officer
(CFO), and the Chief
Operating Officer (COO).
Each have distinct roles within the organization, however, all rests on
the shoulders of the CEO.
His/her right-hand person is the CFO, since financial operations affect
every aspect of a company.
Therefore, a successful CFO has nearly as much knowledge of the
organization's financial operations, operating budget, regulations and reporting, the market,
investor relations, and the such, but also has gained familiarity of the remainder of the company's
Therefore, a CFO is one of the most logical choices to select as a CEO
As Ida Picker writes, "Those former CFOs that have excelled as chief executives have
done so because they have broadened themselves beyond their financial background and could
relate well to people.".
A CFO can become a successful CEO, if he/she learns the ropes of
Operations, Production, the product line or service, advertising.
In moving a CFO to CEO there
are several advantages, particularly depending on the individual. An assumption can be made
that the CFO was selected based on his/her knowledge, skills, and attributes. It should be obvious