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February 9, 2016 By Samuel Dergel Leave a Comment

Quoted in the Wall Street Journal: CFO Searches Drag On as Demand Takes Off

Excerpt from “CFO Searches Drag On as Demand Takes Off” in the Wall Street Journal, February 8, 2016

Some businesses have lost prime contenders for the finance chief job by waiting too long to make an offer. One industrial company started a CFO search in spring 2015 and identified two finalists late last year. But key decision makers at the company disagreed “over what they really wanted,’’ and their front-runner accepted a job elsewhere, says Samuel Dergel, a recruiter at Stanton Chase, where a colleague handled that hunt.

Company officials “were unhappy that they weren’t able to secure the most appropriate candidate for the role,’’ he added. The company hired the runner-up instead.

You can read the entire article on the Wall Street Journal website here.

April 23, 2013 By Samuel Dergel 3 Comments

Quoted In: Why Strong CFOs Know Who Will Replace Them

Recently I was quoted in an article titled “Why Strong CFOs Know Who Will Replace Them” by Sarah Johnson on the Proformative Website.

Here are paragraphs where I was quoted.

“It’s not surprising a company like that has that kind of planning,” says Samuel Dergel, director, executive search, at Stanton Chase International. “Most companies do not.”

…

In fact, succession planning falls under CFOs’ risk management duties and their responsibility for business continuity, Dergel suggests. Just as CFOs have to ask “what if” questions about the viability of their company’s suppliers and credit risk, for example, they need to go through the possible scenarios for what would happen if they were incapacitated. “It’s the people who represent a company,” Dergel. “They are a key part, and if there’s instability in that, then the company is not stable.”

…

While talk about succession planning in the corporate world usually centers around the future of the CEO role, the CFO position deserves attention as well. “The CFO is an important figure in an organization. The more important they are, the more important it is to have a succession plan,” Dergel says.

At the very least, Dergel suggests, finance chiefs should – in addition to all their other duties – give the matter some thought.

To read the entire article, click here.

November 23, 2011 By Samuel Dergel Leave a Comment

Quoted in: The Small-Firm Path to CFO

Dear Readers,

I was quoted in an article that appeared in CFO World by Lisa Yoon that was released this morning. Below is the part of the article in which I was quoted. For the full article, please follow this link. As always, your comments are appreciated and valued.

Wishing you all a very Happy Thanksgiving,

Samuel

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Some Exceptions

For his part, though, CFO recruiter and consultant Samuel Dergel has a more qualified view. Certainly, more smaller firms “are getting more sophisticated” in assessing their need for a CFO, he agrees. “But not all.” Says Dergel, “It depends on the ownership structure.” He notes that manufacturing companies with sales of $50 million or more, for example, may well need for finance chiefs. But at private companies where much of the decision-making is done by the founder, there’s often a tendency to resist turning over the reins to someone else.

From the rising finance star’s perspective, many times “a small-company CFO position will not be helpful” on the bath to a big-company top job, he adds. And in general, a better tack might be to go first to the finance organizations of large companies, and use that experience to move forward toward CFO skills.

Meanwhile, he notes, if there is going to be a jump from a small-company CFO slote to a large-company one, it is best to stay within the same industry, he says. In general, when small businesses hire CFOs, “they usually take the path of least resistance,” he notes. “It’s hard for a small- or midsize company to give you a chance to grow as a finance leader if you don’t have same-industry experience.”

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