Employees come and go.
But when senior executives quit, it warrants a second look. When top managers leave companies known to be troubled, it’s worth an even longer look. And when the Chief Financial Officer (CFO) bails out of a company that recently warned of the danger of bankruptcy, it rises to the level of a red flag event.
On Friday of last week, William Hoke, CFO of the Mesa Air Group, left the company, which faces [% 2603100 | | challenges to its survival on several fronts %].
In Mesa’s 8-K SEC filing, his departure was explained as follows: “Mr. Hoke has resigned to pursue another career opportunity.” That’s corporate-speak for “No comment.”
In his position as the company’s senior financial executive, Hoke was privy to Mesa’s most intimate financial details. And based on that information, he apparently chose to leave the company.