it is always easy to blame the CFO when financial issues arise. And yes, the CFO holds a significant responsibility for the finances of the company. However, i suspect no matter what was put on the table from the CFO, the board probably told her to go away and advised the dividends were being paid.
Not defending the CFO, but knowing the makeup of the board during the dividend payments, they were either major shareholders or nominees of major shareholders.... i suspect her advice would have been ignored.
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it is always easy to blame the CFO when financial issues arise....
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