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25/08/2022 379

Question 84 - 85 refer to following paragraph:
NEW YORK - Synchia Enterprises, Inc. announced Monday that it has named Gary Myers as its new chief financial officer. Myers, formerly executive vice president and CFO at LoveJoy Co., will begin his new position June 12 . He will report directly to the Synchia Chairman and chief executive, Michael Spooner. Myers, 52, replaces Cathy Fines, who is moving over to run Synchia’s fledgling online music sales operation. There had been talk of moving Fines out of the CFO position for weeks, as Synchia’s earnings came in below target and the company’s stock faltered
“Gary has a track record of helping companies to generate greater value, and his expertise in financial management, in addition to his significant experience in the consumer business, will boost our growth across the company” Spooner said in a written statement.
84. According to the article, why is this change being made?

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