CFO Exodus As Earnings Reports Roll Out

(RTTNews) - The person at the helm of the financial affairs of companies are moving out in droves - a development implying troubled finances or is it just routine moves after seeing off their main responsibility of putting together the firm's quarterly scorecard? Only people with insider information having privy to the reality would be able to tell. Refraining from what more than meet the eyes, let us look into what the PR machinery of firms explicitly relayed….

VMWare

Virtualization software company VMWare (VMW) announced yesterday that its CFO Jonathan Chadwick has decided to quit, as he seeks to take up many advisory roles as non-executive board member. The company is to come under the control of Dell, though remaining as a publicly traded company, by virtue of its majority owner EMC (EMC) being bought by Dell. VMWare's fiscal year 2016 guidance, which was grossly below estimates, does not suggest the move to be routine or casual though.

EMC

In a quirky development, EMC CFO Zane Rowe will step into Chadwick's shoes at VMWare on March 1st, 2016. EMC termed the move as a preparatory step towards its acquisition by Dell. EMC's financial executive Denis Cashman will serve as the CFO until the deal is complete,

Visteon

Autoparts retailer Visteon (VC) said its CFO Jeffrey Stafeil has announced his intention to quit, although he has agreed to stay on until a successor is found. The move comes ahead of the company's earnings release. Stafeil is expected to move out by the end of the first quarter, by when the company is hoping to hire for the position.

Stryker

Medical technology company Stryker (SYK) announced the retirement of company veteran William Jellison from the post of CFO. Though the company has zeroed in on company insider Glenn Boehnlein as its CFO, Jellison is expected to stay on till the end of the first quarter to assist with a smooth transition.