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Would you hire a quitter as your CEO?

I hope there is more to this story than what has been publicized. The current Bank of America CFO is quitting due to regulatory burdens. Bank of America doesn’t have any additional regulatory burdens compared to its major competitors. He also seemed to complain that the CFO doesn’t get the glory like the CEO and said after he ends his term with BoA, he would consider a CEO position but not a CFO position. And while de Molina won’t be seeking another CFO position, there is nothing like publicly proclaiming that you can’t handle the same stresses as your peers.

Now ultimately some apologists will blame the government for this regulatory mess they’ve setup in the wake of Enron and WorldCom scandals. Hell, I’ll even buy some of that. The problem of course is that everyone has to deal with the government the same, especially when you’re talking about SOX at a publicly traded company.

The ultimate question to me is why would anyone hire him to be a CEO? I am sure he is a nice guy and his CFO position was probably a big ole’ pain in the ass but when the going got tough, this guy quit. The thing is, I am sure he will be hired by someone and who knows, he might be good. I just don’t see it though.

By Lance Haun

Strategy for The Starr Conspiracy. Former HR pro. Portland guy (Go Blazers!) and WSU alum (Go Cougs!). I get to write about what I want here.

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