“It’s an extraordinary thing for a company to do, but it’s an extraordinary thing we’re in.”
~ BP CFO Byron Grote, on the company’s decision to suspend its dividend, on a conference call with investors.
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Even After Obtaining That Sweet CFO Gig, You’ll Probably Still Bitch About Your Salary
Especially if you’re the jealous type.
According to accounting firm BDO, middle market CFOs typically earn 55% to 60% of their CEO’s pay, but in 2010 they earned just 40%, on average.
In a study of 600 public companies with annual revenues ranging from $25 million to $1 billion, BDO found that CFOs earned an average of $927,743 in 2010, a 19% increase from 2010, while CEOs earned an average of $2.34 million, representing a 25% increase from the previous year.
[via CFOJ]
Former Citi CFO Doesn’t Hate Life Enough, Takes Position with Bank of America
In what appears to be serious case of self-loathing, former Citigroup CFO, Sallie Krawchek has just taken a position to run the global wealth and investment division at Bank of America.
It’s rumored that Krawchek left Citi because she and Vikram couldn’t play nice, so apparently she thinks that working for a rarely sober Ken Lewis will be a much more manageable.
Former Citi CFO takes Bank of America job [AP]
Disney CFO Would Rather Talk to 5-Year-Old Than Federal Reserve Chair Because DUH
[Jay] Rasulo was asked if he’d rather have five minutes with Federal Reserve Board chairman […]