A couple of months ago we reported on a piece Microsoft Dynamics research about managing directors not really trusting their FDs to take on the top job. Not good. And, according to our own research, these managing directors are plain wrong because FDs do very well in the top job. Our research from 2003 showed that far more than half of FTSE-350 FDs-turned-CEOs outperformed the market.

Another aspect of the Microsoft research found that more than three-quarters of MDs said their next financial director wouldn't be an internal promotion but would be appointed from outside the company.

As well as keeping headhunters in expensive suits, this leaves financial controllers, and even divisional FDs, in a bit of a quandry. Where's the next job coming from, for a start...

Unilever is a case in point. The company announced today that James Lawrence, currently vice chairman and CFO of General Mills, has been appointed Chief Financial Officer. At least Unilever's chairman, Michael Treschow, attempted to cure any potentially bruised egos: "Despite having excellent internal candidates we believe the fresh insights that his external appointment brings will be of particular value at this time."