Finance Departments Are the Best Place to Essay

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finance departments are the best place to train future CEOs?

The finance department is one of the best places to train future CEOs. This is because the experience that they will receive will have an impact on their ability to deal with a host of challenges. At the same time, they are learning how to effectively work with others and coordinate with various departments. The combination of these factors is providing CEOs with: the ability to adjust and address a host of challenges that are impacting the firm. Once this takes place, is the point that everyone is willing to go the extra mile in helping the firm to be successful in achieving its larger organizational objectives. (Nolop, 2012, pp. 3 -- 21)

Provide two actual examples of CFOs of publicly-traded companies who became CEOs of publicly-traded companies within the past 5 years. Do these individuals have the CPA and/or CFA designations?

Two examples of this can be seen with Indra Nooyi of Pepsi Co and Sallie L. Krawcheck of Citigroup.

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In the case of Indra Nooyi she started working with the company in 1994 and was named CFO in 2000. During this time, the profit margins of the firm rose by 72%. In 2009, she was named CEO of the company (based upon her ability to work well with others and increase the earnings of the firm).

While Sallie L. Krawcheck, was the former President of Bank America's Global Wealth and Investment Management division. In 2002, she joined Citigroup by becoming CEO of the firm's Smith Barney unit. Then, in 2004 she was promoted to the position of CFO. This is from her ability to help the firm increase its earnings and the impartial advice that she is providing. After the financial crisis, is when the bank began to face a number of financial challenges. To deal with these issues, they needed to have someone who was capable of helping to turn….....

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