The CFO blues; Turnover increases as regulations, job duties grow.(Focus)

Crain's Detroit Business, February, 2007 by Henderson, Tom

Byline: Tom Henderson CFOs are an increasingly beleaguered group, according to recent studies that show job turnover at record rates both in Michigan and in the U.S. for those holding the top financial position. Decreasing budgets, increasing red tape and much broader duties are all responsible, industry professionals say.

"I hear the CFOs I know who are in their 50s saying, `I'm glad I don't have a long way to go.' I hear that all the time. Everyone has the same blues to talk about. There's a lot of pressure,'' said Ray Colonius, the CFO at Mt. Clemens-based Community Central Bancorp. According to data compiled by Deloitte & Touche USA L.L.P., the number of CFOs at nearly 2,000 U.S. public companies with revenue of at least $1 billion who left their...