Corporate Finance: Page 48
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Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Technical Accounting: The CFO’s Secret Weapon
Charles Holley, the retired CFO of Wal-Mart, has said that CEOs want finance chiefs who are:Adept influencersStrong communicatorsTireless change agentsNowhere on that list is “proficient accountants.” The controller-style CFO has fallen out of favor, particularly in private equity environments, w...
By Shauna Watson • Jan. 21, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Starbucks Lays Out Sweeping Goals to Combat Climate Change
Starbucks said it was committed to becoming a resource-positive company and set preliminary targets for the reduction of carbon emissions, water use, and waste by 2030.The targets included a 50% reduction in carbon emissions from direct operations and the supply chain and a 50% reduction in waste...
By Lauren Muskett • Jan. 21, 2020 -
Explore the Trendline➔
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TrendlineTop 5 stories from CFO.com
From CPA licensure changes to undergoing a digital transformation, these are the most popular stories CFOs are reading.
By CFO.com staff -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Gap Cancels Plan to Spin Off Old Navy
Gap said it had cancelled plans to spin off Old Navy into a separate standalone public company, citing its “commitment to value creation” from its portfolio of iconic brands.“While the objectives of the separation remain relevant, our board of directors has concluded that the cost and complexity ...
By Lauren Muskett • Jan. 17, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
CFOs On the Move: Week Ending January 17
Deepak Ahuja Verily, the health and life sciences unit of Google parent company Alphabet, named Deepak Ahuja as chief financial officer. Deepak was CFO for Tesla from 2008 to 2015, then again from February 2017 until he retired in 2019. Prior to Tesla, he was at Ford Motor Company as a finance ex...
By Lauren Muskett • Jan. 17, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Why Some of Today’s Corporate Powerhouses May Not Survive
This article is part of an 11-part series titled “Tesla, Elon Musk, and the EV Revolution” by investment manager Vitaliy Katsenelson, who gave CFO the right to publish this segment. You can order the full Tesla analysis here.Today, electronic vehicle sales account for a tiny rounding error of tot...
By David McCann • Jan. 16, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
McClatchy Gets Standstill Agreement on Pension Payments
McClatchy Co. has reached a standstill agreement with the Pension Benefit Guaranty Corp. (PBGC) to extend negotiations with its creditors.The month-long standstill agreement was effective January 14. In a filing with the Securities and Exchange Commission, McClatchy said it had a minimum funding ...
By Lauren Muskett • Jan. 16, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Taiwanese Chipmaker Facing Pressure to Produce Chips in U.S.
Taiwan Semiconductor Manufacturing Company Limited (TSMC), one of the world’s top contract chipmakers, is under mounting pressure from the Trump administration to make chips in the United States, sources told the Nikkei Asian Review.Military-grade chips made by TSMC, which is a key supplier to te...
By Lauren Muskett • Jan. 16, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Workplace Class Actions: The Threat Keeps Growing
The prosecution of workplace class action litigation by the plaintiffs’ bar continues to escalate, as it has for more than a decade. Importantly, class actions increasingly pose unique “bet-the-company” risks for employers.As has become readily apparent in the #MeToo era, an adverse judgment in a...
By David McCann • Jan. 15, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
CFOs Dealt With a Record Number of Activist Investors in 2019
Across the globe, a record 147 investors (up from 131 in 2018) launched new activist campaigns in 2019, including 43 “first-timers” with no prior activism history, according to Lazard’s annual shareholder activism review.Those activists targeted 187 global companies, down 17% from 2018’s record b...
By Vincent Ryan • Jan. 15, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Mandalay Bay, MGM Grand Sold to Joint Venture in $4.6B Deal
MGM Resorts International is selling Las Vegas properties MGM Grand and Mandalay Bay to a joint venture in a deal valuing the properties at $4.6 billion, the companies said.The joint venture includes investment firm Blackstone Group and real estate investment trust MGM Growth Properties.Under the...
By Lauren Muskett • Jan. 15, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
BlackRock CEO: Climate Change is Causing a ‘Fundamental Reshaping of Finance’
Global asset manager BlackRock said climate risk is compelling investors to reassess core assumptions about finance and pledged to change its investment strategy as a result.Larry Fink, Chairman and CEO of BlackRock “Climate change has become a defining factor in companies’ long-term prospects,” ...
By Lauren Muskett • Jan. 14, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Casper Sleep Seeks to Wake up Wall Street
Casper Sleep has filed for an initial public offering in a bet that investors will be awake to the potential of its “holistic” sleep solutions even though it has never turned a profit.The bed-in-a-box pioneer said the growth of the “sleep economy” is accelerating as sleep becomes the “third pilla...
By Matthew Heller • Jan. 13, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
U.S. Billion Dollar Weather Disasters Doubled in Last Decade
The United States saw 14 weather and climate disasters that caused financial losses of at least $1 billion last year, according to the National Oceanic and Atmospheric Administration’s annual U.S. climate assessment. 2019 was also the second-wettest year on record behind 1973.In total, the weathe...
By Lauren Muskett • Jan. 10, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
ECB Continues Assessing ‘Feasibility And Merits’ Of Digital Currencies
The European Central Bank (ECB) is sticking to its guns on playing “an active role” in the digital currency field, said ECB’s President Christine Lagarde on Wednesday.What HappenedThe ECB will continue assessing the risks and benefits of issuing a central bank digital currency (CBDC), said Lagard...
By Vincent Ryan • Jan. 9, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
GrubHub May Be Considering a Sale
Delivery company GrubHub might be exploring a sale after bringing in advisers to explore strategic options as online delivery competition heats up, The Wall Street Journal reported. Shares of the company surged 13% Wednesday after the report of the possible sale.According to the Journal story, Gr...
By Lauren Muskett • Jan. 9, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Coupa Software Buys Travel Software Company Yapta
Coupa Software, a company that helps businesses track their spending, has acquired corporate travel price optimization startup Yapta. The companies did not disclose the financial terms of the deal.Seattle-based Yapta has helped companies cut their corporate travel budgets 2% to 4% on average, sav...
By Lauren Muskett • Jan. 7, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Gannett CFO to Leave at End of First Quarter
Alison “Ali” Engel USA Today parent Gannett said that Alison “Ali” Engel is stepping down as chief financial officer at the end of the first quarter to pursue other opportunities.“I greatly enjoyed my time at Gannett and wish the company nothing but success in the future,” said Engel.Gannett’s bo...
By Lauren Muskett • Jan. 6, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Bed Bath & Beyond Completes Sale-Leaseback
Bed Bath & Beyond said Monday it had completed a $250 million sale-leaseback deal with a private equity firm in a move to generate cash for its turnaround effort.The struggling home-goods retailer said it had sold about approximately 2.1 million square feet of commercial space to an affiliate...
By Matthew Heller • Jan. 6, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Yum Brands to Buy Habit Burger Grill
Yum Brands has agreed to acquire The Habit Restaurants, parent company of Habit Burger Grill, for $14 per share, or about $375 million, the companies said.Yum is the parent company of KFC, Taco Bell, and Pizza Hut. This would be the first fast-casual chain in its portfolio and the first deal sinc...
By Lauren Muskett • Jan. 6, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
CFOs On the Move: Week Ending January 3
Michael Wallace Spok Holdings announced that chief financial officer Michael Wallace has been appointed chief operating officer. Wallace, who joined the healthcare communications company as CFO in March 2017, will maintain his CFO responsibilities. Wallace joined the company from Intermedix where...
By Lauren Muskett • Jan. 3, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
Travelex Services Shut Down by Malware Attack
Travelex said it had taken down its site to contain a malware attack that began New Year’s Eve.The international foreign currency exchange said it took systems offline “as a precautionary measure in order to protect data” and to stop the spread of the attack. There is no timeline for when the Tra...
By Lauren Muskett • Jan. 3, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
SEC Planning to Loosen Auditor Independence Rules
SEC Chair Jay Clayton Auditor independence rules appear to be headed in opposite directions in the United States and the United Kingdom.At a time when auditors in the U.K. are still under fire for the meltdown of Carillion, U.S. auditors may be getting a break on some of the rules governing impa...
By Vincent Ryan • Jan. 2, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
TiVo Shuffles CFOs Amid Xperi Merger
TiVo has named Wesley Gutierrez as its chief financial officer, effective December 30, 2019, replacing Peter Halt who was terminated from that role the same day.In a securities filing, TiVo said Halt’s termination was “unrelated to TiVo’s financial reporting or disclosure controls and procedures....
By Lauren Muskett • Jan. 2, 2020 -
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Total Cost to Perform the Finance Function: Metric of the Month
The beginning of a year is a great time to evaluate the effectiveness of the finance function and the role it plays in helping drive a company’s success. This month’s metric — total cost to perform the finance function as a percentage of revenue — is part of a set of finance process key performan...
By Perry D. Wiggins • Jan. 2, 2020 -
Karpovich, Vlada. "Woman doing paperwork" [Photograph]. Retrieved from Pexels.
CFO Departures 2019
Record numbers of chief executives left their jobs in 2019. Turnover in the CFO chair was just as prevalent. The following were some of the more notable CFO departures last year.January 2019Deepak Ahuja retired as CFO of Tesla, two years after rejoining the automaker. Vice President of Finance Za...
By Vincent Ryan • Jan. 1, 2020
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