CRO appointments “sign of weakness” says study

- By Risk Staff
- 07 Dec 2003

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The appointment of a chief risk officer (CRO) might be a sign of weakness ratherthan strength, according to a study, by Robert Hoyt and André Liebenbergof the Terry College of Business at the University of Georgia. The study* wasbased on an analysis of 26 companies – 10 of which are energy companies – acrossthe US that had recently created a CRO position. Using a logistic regressionanalysis to compare the financial characteristics of those companies againstthose of a control sample of

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