Are CFOs OK? (Answer: Yes, however CEOs? That’s difficult)
There’s nobody who is aware of an organization’s interior workings like a chief monetary officer. So, when three high-profile CFOs go away their jobs at richly valued, late-stage startups in fast succession, we discover it.
This week, OpenSea CFO Brian Roberts left the web3 firm less than a year after taking the job. Days later, Brex CFO Adam Swiecicki left the expense administration firm to hitch Rippling, one other firm that lately expanded into the expense administration area. The shuffle got here on the heels of Brex asserting it needed to slash 11% of employees. (Its former CFO, who stepped down so Swiecicki may take the helm, is again in his unique place).
“The first person who is going to know if it’s possible to grow into these valuations is the CFO.” Continuum CEO Nolan Church
But that’s not all. Noom, a weight loss plan and well being teaching platform, confirmed that its CFO, Mike Noonan, is leaving the job two years after joining, hours earlier than Thealike discovered that the corporate was executing a spherical of layoffs.
While the CFO departures are reportedly unrelated to the layoffs, is something ever that easy? After all, layoffs have been a results of needing to strengthen financials forward of an unsure market, fairly actually the job of a chief monetary officer.
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