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CFOs Eye New Companies, New Jobs

According to a new survey, 46 percent say there's too great a gap between CEO and CFO pay in their present situation.
Stephen Taub and Dave CookApril 17, 2007

Fully 29 percent of chief financial officers and senior controllers plan to retire or to leave their company within the next three years, according to a survey of 135 U.S.-based finance executives by Grant Thornton.

Their feelings toward the boss may have something to do with their decision. Some 22 percent feel that their chief executive officer is paid too much; 46 percent say there’s too great a gap between CEO and CFO pay at their company.

That said, nearly 56 percent of survey respondents would like to be CEO of some company, someday. Just 24 percent, however, have a succession plan in place for their own position.

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As for the economy, 36 percent expect it to improve this year, almost exactly in line with the results of the most recent Duke University/CFO Business Outlook Survey.

Fully 96 percent of the Grant Thornton survey respondents believe inflation will stay in check or decrease this year, 60 percent expect their own company’s prospects will improve, and 36 percent expect to increase hiring.

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