This was found by analysing SEC filings by 2,056 of the biggest US-listed companies between 2016 to 2021, the latest period for which official data exists; by Datarails, a financial planning and analysis (FP&A) platform for Excel users.
Datarails analysed CFO tenure and compensation methods, which are mandated by the SEC in annual filings.
The study also found that CFOs of the gaming industry lasted the least time of any C-Suite position. They stayed among the least amount of time lasting an average of only 2.9 years out of 5 years between 2016 and 2021.
Didi Gurfinkel, Co-Founder and CEO of Datarails, said: “The challenges being faced by the CFO are at a peak at the start of 2023. Tests will be able to find the forecast, show value and tell a compelling story around the numbers. This will help to determine the staying power of CFOs in 2023.
“Therefore, more automation and investing in the capabilities to get the job done is a top priority for CFOs in 2023.”
Meanwhile, speaking of CFOs, GAN announced the resignation of Karen E Flores from her position as CFO and the company’s board of directors, effective 25 November 2022. Following this, GAN's SVP and Corporate Controller, Brian Chang, was appointed to assume the duties of CFO.
Flores made several trades of the company stock during her career at GAN. The most recent was on 31 August 2022 when she exercised 42,020 units of stock worth $61,949.
