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?
See attached file.
Only 12 percent of CFOs get promoted to CEO. (CFO Magazine, http://www.cfo.com/article.cfm/4444468 ). Since the 1990s, Boards have recognizes the importance of balance-sheet disciples running companies to ensure financial stability.
Peter Darbee became CEO of PG&E (California's largest investor-owned utility) in January of 2005. He had previously held the position of CFO. David Hoover of Ball Corp, was promoted from CFO to CEO in 2001. Mr Darbee has no accounting certifications, but does possess an undergraduate degree from Dartmouth College, and MBA from the Tuck School of Business at Dartmouth and other studies with the Massachusetts Institute of Technology. Mr. Hoover has no CPA certification. He completed his bachelor's degree in economics at DePauw University. He received an MBA in finance and real estate from Indiana University and then completed the Advanced Management Program in the Harvard University Graduate School of Business. ...
The solution gives 609 words in an attached Word document with a source to explain how the few CFOs that became CEOs have done it and the general issues in that area of promotion.