Following the disclosure, Supermicro moved quickly to name Kenneth Cheung as the CAO and principal accounting officer. But more than 14 months and four straight quarters later, Weigand remains in the CFO seat and there hasn’t been an update to investors on the search in public filings in the year since. Weigand spoke with analysts this month when the company announced its second quarter 2026 earnings results, and gave his name for regulatory sign-off purposes.
The company’s “ambiguity” on the matter, and the lack of a public update through investor relations and corporate communications is also itself a red flag, Cole added. It could suggest potential discord between the CEO and the board at a time when there’s a shrinking talent pool of CFOs, which means “top talent gets their pick,” Cole said, and not the other way around.
“The price of a qualified CFO in that industry is extremely expensive, and they might not be in the best position to attract top talent,” he added. “If they’ve been trying to initiate a CFO search, they’re probably experiencing some significant frustration in doing so.”
In a statement, Supermicro did not specifically address the CFO search.
“Supermicro has undertaken a double-digit expansion of its staff globally, including the search for key Senior Executives to help the company accelerate its historic growth in the rapidly evolving AI market,” the company stated in an email response to questions.
Still, the CFO role remains unchanged.
A company like Supermicro is likely searching for someone with a “pretty special mix” of a strong corporate governance track record and finance gravitas that can give the market reassurance about financial rigor at the company, said Ross Woledge, head of the CFO practice at search firm Odgers. So the company is likely looking for a CFO who can offer a “safe pair of hands” and also someone who can help position the company for innovation and R&D investment. It can be “tough” to nail both aspects, he added.
“It’s a really fast-moving tech company that’s expanding at a pretty rapid clip,” said Woledge. “The CFO needs to be a really great partner to the CEO to drive that—and that’s a different type of skill set.”
Unfortunately, most CFOs often lean one way or the other, added Woledge, which has likely made the search more difficult. Most boards, in Woledge’s experience, prefer to wait it out and not bend on the top priorities they’re seeking in the next CFO. While some searches extend from six to 12 months, some run even longer as boards wait to find the right candidate, he added, particularly if a board is holding out for experience. Some boards also hold multiple rounds of interviews over months while vetting a candidate that can further extend the process. It’s often easier to get a CFO with a strong accounting or audit background rather than a CFO with strong strategic relationships, capital markets expertise, and innovation experience.
“The risks are too high when you get a CFO search wrong,” said Woledge. “And then factor in the situation around this and it’s additionally important that they get this one right.”
