Super Micro needs a new CFO after an accounting scandal. Who should apply?
Fortunes asks Cowen Partners about Super Micro’s Accounting Scandal: To enhance governance, the committee said there should not be a combined CFO/chief compliance officer (CCO) function, so Super Micro is now also searching for a CCO. The company is seeking a general counsel as well. And Kenneth Cheung, currently VP of finance and corporate controller, has been appointed chief accounting officer.
I asked Shawn Cole, president and founding partner of executive search firm Cowen Partners, for some insight on what type of CFO would best serve Super Micro.
“At this stage, a reporting-focused CFO is crucial to restoring internal controls, ensuring regulatory alignment, and strengthening relationships with auditors and stakeholders,” Cole told me. And “ideally someone with a background as a former Big 4 auditor and CPA,” he said. This combination of experience would bring deep expertise in accounting, regulatory compliance, and financial governance, paired with a track record of working as a CFO of a large public company in a similar space, he explained.
Companies like Super Micro often benefit from creating hyper-focused C-suite roles to address specific needs, Cole said. “For instance, appointing a chief accounting officer earlier could have provided the necessary expertise to maintain tighter financial controls and oversight,” he said.
Cole added: Super Micro is an example of “a fast-growing company that outgrew its CFO and team, highlighting the challenges that come with scaling operations and governance of a public company.”
Read more HERE
About Fortune
Fortune drives the conversation about business. With a global perspective, the guiding wisdom of history, and an unflinching eye to the future, we report and reveal the stories that matter today—and that will matter even more tomorrow. With the trusted power to convene and challenge those who are shaping industry, commerce and society around the world, Fortune lights the path for global leaders—and gives them the tools to make business better.
About Cowen Partners Executive Search
Cowen Partners is the nation’s executive search firm, enabling companies to harness the power of human capital to fuel their success. Cowen Partners gives our clients access to the top 1% of human capital to create opportunities that accelerate their growth and market share. With Cowen Partners, clients can grow at scale, create value, and drive results with world class talent. Our clients are both small and large, publicly traded, pre-IPO, private, and non-profit organizations.
Clients are typically $50 million to multi-billion dollar revenue Fortune 1000 companies or have assets between $500 million to $15 billion. Successful placements span the entire C-Suite and include VP and director level leadership roles.
With our proven processes and guaranteed results, we have successfully placed hundreds of candidates in industries including technology, healthcare, manufacturing, retail, financial services, and private equity.
As trailblazing leaders in executive search, Cowen Partners is also an innovator that routinely develops groundbreaking resources to empower better insights, decisions, and understandings of what it takes to recruit and retain top talent in today’s C-suites. Explore some of our elite resources below to see why Cowen Partners continues to be a top executive search firm nationwide.
Schedule a Call.
Fill out the email request form to learn more about our approach.