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Finance Rules

Trophy CFOs may come and go, but ones with real influence and vision can make all the difference

By Dave Lindorff | Updated on March 01, 2002

If chief financial officers were feeling overlooked, the last few months should have cured most of any desire to make the front pages. First, there was Andrew Fastow, fingered by many as the mastermind behind Enron Corp.’s downfall for his off-balance-sheet creativity.

Following the implosion of Enron, many CFOs at companies like Cisco Systems Inc., Tyco International Ltd. and even General Electric Co. have had to scramble to put out information–and, in Tyco’s case, to line up bank credit–to reassure investors that the companies are as sound as their books make them appear to be. And most recently, Nortel Network Corp.’s CFO, Terry Hungle, resigned after the company reported that he sold Nortel shares just ahead of an announcement of a worse-than-expected quarterly loss.

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