More than 78% of CFOs Favor Chairman-CEO Separation
In a national survey of CFOs and senior comptrollers conducted by Grant Thornton LLP, more than three-quarters (78 percent) believe that the roles of CEO and chairman should be held by different people. Currently, approximately 65 percent of Fortune 500 companies are led by a CEO who is also Chairman of the Board.
In addition, nearly three-quarters of the respondents think that shareholders of public companies should have greater access to the company proxy, and more than half the respondents think it would be possible to intentionally misstate their financial statement to their auditor.
“The results of this survey highlight the need to continue the dialogue regarding both the governance structure of our public companies and the importance of effective internal control systems,” said Trent Gazzaway, national managing partner of Grant Thornton’s corporate governance practice. “Continued sensible improvements in both will only strengthen our capital markets.”
Do you believe the roles of CEO and chairman of the board should be independent of each other?
Yes 77.61 %
No 20.90 %
Do you believe shareholders in public companies should have greater access to the proxy?
Yes 72.39 %
No 25.37 %
Do you believe it would be possible to intentionally misstate your financial statement to your auditor?
Yes 55.97 %
No 42.54 %