Re: Why Do We Keep Hearing About New INSM Inducement Grants, But No New CFO?
A Chief Accounting Officer is not a FO nor does the person possess the more expanded skill sets of th CFO,
"What Is the Difference Between a Chief Accounting Officer and a Chief Financial Officer?
There are many similarities between chief accounting officers and chief financial officers (CFO), such as the responsibility of managing the finances of a business. However, there are important distinctions between these two positions. The CAO is in charge of all things within the accounting department of a company, especially the day-to-day operations. The CFO is the highest financial position in the business and manages things like budgets, forecasts, credit, taxes, and insurance. They also oversee individuals, such as financial controllers and treasurers, and implement their new ideas into lower levels of the business."
Basically, it is being used as an excuse to try to mitigate the fact that they have no CFO. One of three things likely the reason.
1. They cannot find a CFO that wants to work for the company without compensation package thy won't pay or WL's reputation as a boss is lousy and nobody of any quality will work for him..
2. The company is being bought out in the not too distant future
3. WL wants all power consolidated directly with him including the Treasury, analyst contacts and financings.
And, of course, all of the above. My guess is this one.