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Essay / Research Paper Abstract
This 3 page paper considers whether or not there are advantages if a company’s CEO has financial training and comes from a financial background. The advantages and potential disadvantages are discussed. The bibliography cites 4 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEceocfo.rtf
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Unformatted sample text from the term paper:
it was one that goes back for many decades with the way that the CEO is able to influence and guide a firm. The way that a firm is judged
as successful may be subjective dependant on the perspective of the observer, but with a high level of emphasis placed in the aspects of financial performance, such as revenue and
profit maximization, it may be argued that CEOs should have a high level of financial knowledge in order to aid with the way that financial targets should be met, and
as such CEOs that come from the position of a CFO may be advisable. There are a number of arguments in favor
of this approach, one example of a good CEO that came through the finance department was former Disney CEO Michael Eisner. Although he was eventually ousted as a CEO in
2004 he took Disney from a poor performing firm, where costs were out of control and there were bad choices being made on projects, to a much leaner, successful and
profitable organization. The knowledge that he brought to the job allowed him to bring in strategies that were not otherwise in place, seeking out areas were costs were unneeded,
and bring in new practices that enabled the firm to assess new projects. When Eisner was ousted there was a high level of dissatisfaction with his performance, many of
the shareholders saw Eisner as a bean counter (Grover, 2005). Eisner saw the objections, not in a vote to oust him, but in the way 43% of the shareholders choose
withhold their proxies, they also voted another individual in as Chairman. It may be argued that there was a time when he was needed, and despite many claims that he
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