The Secret CFO @SecretCFO
Sharing real world insights as the CFO of a multi-billion dollar company. Opinions, not advice. cfosecrets.io Sign up to newsletter 👉🏻 Joined July 2021-
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If you see more than 2 CFOs changes in a company inside 2 years, your base assumption should be: 1. The business is in serious financial difficulty And / or 2. The business is ungovernable. Ie CFO can’t stand behind the control / numbers
Good news for Jeff Goldblum fans in this week’s newsletter.
Over a year since I bought this business. I've had hundreds of messages since asking for an update. This weekend I'll reveal all ... (Sign up to the newsletter for the full breakdown)
Over a year since I bought this business. I've had hundreds of messages since asking for an update. This weekend I'll reveal all ... (Sign up to the newsletter for the full breakdown)
Me when I realize the CMO is pitching for budget for a $10m above the line tv ad campaign for the third time this week
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“What do you do work” “I manage the capital management”
@brett_finance @SecretCFO A dumb and dumber quote wrapped in a finance post. Strong for a Monday.
The older I get: - The more I favor history books over the news - The more I tolerate diverse opinions - The more I realize I know nothing
@AlwaysLearn247 you do you! but follow through my dude :)
Below is the CFO tenure of a public company….dumpster fire -Jan 2024 - present -Aug 2022 - Jan 2024 -June 2021 - Aug 2022 -Aug 2020 - June 2021
If you see more than 2 CFOs changes in a company inside 2 years, your base assumption should be: 1. The business is in serious financial difficulty And / or 2. The business is ungovernable. Ie CFO can’t stand behind the control / numbers
Word
If you see more than 2 CFOs changes in a company inside 2 years, your base assumption should be: 1. The business is in serious financial difficulty And / or 2. The business is ungovernable. Ie CFO can’t stand behind the control / numbers
My friend runs a $30M/yr company, needs a CFO, and asked my advice. "It all boils down to whether they golf," I said. "If your goal is to double the business and raise capital, hire a golfer. You can spot these resumes because they started in banking and talk about deals. If…
@SecretCFO #2 can also be that the rest of the C suite are ungovernable. I have seen that a few times.
@SecretCFO 3. The CEO does not want a strong willed executive in the position that will develop board relationships independent of the CEO. Happens way too often with CEOs that are not confident in their vision/position.
@SecretCFO Can confirm. CEO was 100% unmanageable. CFO resigned.
@SecretCFO How about a sizable private REIT that has not had a CFO in over a year? I would imagine it makes the CMO’s and PR specialist’s job a little bit challenging when talking to investors about their accounts?
@SecretCFO A company a friend worked at had: The CFO quit, then 1 day later the entire accounting and finance team quit. Then 2 months later, the CEO was indicted, and is currently nestled in the comfortable arms of the Federal Prison System.