Ferro Corp. to lose third CFO since January, 2007.

Darin Norman's picture
Submitted by Darin Norman on Thu, 12/15/2011 - 16:49

On 14-Dec-11, Ferro Corp. (NYSE: FOE) filed an 8-K disclosing that Thomas Miklich would be stepping down as CFO in Jul-12, after 2 years of service. No corresponding press release was found on the company's website. Miklich's upcoming resignation will mark the third CFO departure since Jan-07. The lack of stability in the CFO position, and therefore in the finance/accounting department, has us concerned. This trend of 2-year CFO tenures is unhealthy and investors should be concerned as well. The company appears to have a problem retaining individuals in this seemingly prestigious position. The company has not yet identified a successor.            

CFO History:

• Thomas Gannon steps down in Jan-07

• Sallie Bailey steps down in Jul-10

• Thomas Miklich to step down in Jul-12

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