I have looked at the high level of turnover for chief financial officers and the implications it has for the strategic planning companies here.

As I said at the time, it could be a huge problem because of signs that companies are basing their investment decisions around the tenure of their chief number cruncher.

Now we have evidence that the private equity boom might be exacerbating the problem.

According to a Financial Officers Turnover study by Russell Reynolds, CFO turnover has fallen to its lowest level in three years but resignations have increased significantly.

The study also cites the increased role of private equity. Once a private equity firm acquires a company, the CFO is usually the first out the door.

Take a close look at the numbers and you'll see that company restructuring has now become one of the main reasons for CFO turnover. It's now at 17 per cent, up from 4 per cent in 2005.

And for CFOs, it's going to look more and more insecure.

Chris Langhoff, a member of Russell Reynolds Associates' Financial Officers Practice, said: "Private equity firms often appoint CFOs who they know, trust and who have experience turning companies around at new portfolio companies. Thus, we expect to see an increase in turnover, especially in private equity-backed companies, in 2007."