01/11/2001

Companies face Financial Director crisis

Executives Online, a dedicated management consultancy, has launched ‘Fast-Track FD’ – a new service through which it can supply, in days, handpicked interim finance directors and senior managers, with top-level experience, drawn from a wide range of industries.

Their new service comes in response to new research which revealed that over 10 per cent of the UK’s leading companies may find themselves without a financial director when facing their year-end.

According to the research by Executives Online, this scenario, which is likely to confront over 2,100 top businesses in the UK, is also likely to double the demand for interim finance directors over the next four years.

The quicker turnaround in financial directors is blamed for this trend, and according to Executives Online, financial directors now typically stay in their post for two and a half years.

Added to this, companies are taking longer to find a suitable replacement for an outgoing financial director, on average the companies surveyed took six months. (MB)

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