Shortage of Biotech CFOs Prompts Broader Search Criteria


CFO Journal | April 29, 2019

The CFO Journal newsletter exclusive, “Shortage of Biotech CFOs Prompts Broader Search Criteria,” featured the firm's research, "Looking for Biotech CFOs in New Places." The article is excerpted below.

Competition for biotechnology chief financial officers has increased as the ranks of midsize companies in the sector have grown, according to a report from executive recruiter Russell Reynolds Associates. That is causing companies to look beyond the finance function for a new CFO.

The number of U.S. publicly traded biotech companies valued between $500 million and $10 billion ballooned to 116 in 2018 from 24 in 2008, according to the report.

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