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Fin 301 Case 1

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Submitted By mthomas20
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May 2012

Principals of Finance
FIN301
Module 1

CFO to CEO is it good idea and do they have what it takes to lead their respective organizations into the future. This is a very good question over the next few minutes we will discuss that very question and I will show you two CFO to CEO’s that made it by two different routes. I will conclude with my person perspective and closing thoughts. Dalton Tong is the President and CEO of Greater Southeast Healthcare System, Washington, D.C. and yes a CPA (Sandrick, 1995) Mr Tong, a well respected CPA amongst other things has risen through his career by way of what I would consider normal progression. He started as a CFO at the local level (hospital level) then progressed to CFO at the corporate level. After holding that position he move into a Chief Operating Officer positions and finally culminating as the CEO of Greater Southeast Healthcare System, Washington, D.C.. (Sandrick, 1995). This I consider a natural and healthy progression, by gradually moving out of his personal comfort area (finance) he had the opportunity to grow and develop. As leaders, and that is what we are talking about leadership, we have to be able grasp concepts normally no withing our expertise arena. The way to accomplish this is to “wade into the unknown waters”. Mr. Tong did not just jump in. The “wading” allowed him to pick up valuable information required to make sound educated judgments that will lead the company and the share holders into a brighter future. Now Let’s look at Mr. Richard Solomon, CFO of Intercontinental Hotels (ICH) who recently has been name CEO to take over June 30, 2011. Also a CPA (Forbes, 2011) Mr. Solomon, from what I have been able to research has strictly come from a financial background.

The “operations” side of the house appears to be missing from the resume. However I would like to think that ICH has

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