CFOs On the Move: Week Ending November 27

Peter Zarrella Peter Zarrella joined fiber bandwidth company Segra as its chief financial officer. Most recently, Zarrella was vice president of finance – fiber for shared communications infrastructure company Crown Castle. He has previously served as senior vice president at Lightower Networks a...

By Lauren Muskett • Nov. 27, 2019

Companies Face Demand for Third-Party CSR Certifications

Like never before, companies face demands for robust corporate social responsibility (CSR) and sustainability programs. These programs are typically based on benchmarking against environmental, social, and governance (ESG) criteria, utilizing the Global Reporting Initiative’s core option.As compa...

By David McCann • Nov. 26, 2019

Explore the Trendline➔

Top 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

EBay to Sell StubHub to Viagogo for $4B

EBay has reached a deal to sell its StubHub ticketing business to Viagogo, a European rival, for $4.05 billion in cash, the companies announced.The founder and CEO of Viagogo, Eric Baker, co-founded StubHub while in business school. He left before the ticket reseller was sold to eBay in 2007 for ...

By Lauren Muskett • Nov. 26, 2019

GE Taps Maersk CFO to Head Finance

Carolina Dybeck Happe After a four-month search, General Electric named Carolina Dybeck Happe, CFO of Danish shipping giant A.P. Moller-Maersk, to perhaps the top finance chief role in the United States.Dybeck Happe leaves Maersk after less than a year on the job. She will lead GE’s global financ...

By Vincent Ryan • Nov. 25, 2019

Luxury Retailer LVMH to Buy Tiffany for $16.2B

LVMH has reached an agreement to buy the iconic jewelry brand Tiffany & Co. for $135 per share in cash, or $16.2 billion, the companies said.In October, LVHM confirmed it had held preliminary talks with Tiffany over a possible transaction, but the resulting offer, reportedly for $120 per shar...

By Lauren Muskett • Nov. 25, 2019

CFOs On the Move: Week Ending November 22

Gina Mastantuono Cloud computing company ServiceNow named Gina Mastantuono chief financial officer, starting January 13. Mastantuono joins the company from Ingram Micro where she held the same role. Prior to Ingram Micro, she was Revlon’s senior vice president, chief accounting officer, controlle...

By Lauren Muskett • Nov. 22, 2019

Bumble Bee Files for Chapter 11 Bankruptcy Protection

Bumble Bee Foods has filed for Chapter 11 bankruptcy protection, citing “recent and significant legal challenges.” In a statement Thursday, the San Diego-based company said it had entered into an agreement with FCF Fishery, its largest creditor, to sell its assets for approximately $925 million.“...

By Lauren Muskett • Nov. 22, 2019

Why Isn’t Your Transformation Showing Up in the Bottom Line?

“Transformation” is the buzzword of the day for companies in most industries. But for many it carries an asterisk.Studies show wide variation in companies’ rates of success with organizational transformations — whether they are changing how they go to market, updating back-office processes, autom...

By Ryan Davies, Douglas Huey, and David Kennedy • Nov. 21, 2019

Big Banks Would Undergo Climate Stress Test Under Proposed Legislation

New legislation being considered in the U.S. Senate would require the Federal Reserve to subject large financial institutions to stress tests to measure the banks’ resilience to climate-related financial risk.The Climate Change Financial Risk Act of 2019 would require the Fed to establish an advi...

By Lauren Muskett • Nov. 21, 2019

Vanquish Silos to Improve Administrative Services

“Silos.” It feels almost like a dirty word, doesn’t it?Indeed, they’ve been problematical for companies since, well, forever.The traditional approach to delivering administrative services is costly, dysfunctional, and often maddening to internal customers, according to Jonathan Schiff, a consulta...

By David McCann • Nov. 20, 2019

Alibaba on Track to Raise $12.9B in HK Listing

Alibaba Founder Jack Ma Alibaba could raise $12.9 billion after pricing a secondary listing in Hong Kong at a slight discount to its U.S.-listed shares in what would be the biggest initial public offering of the year.The Chinese e-commerce giant said Wednesday it was issuing the Hong Kong shares ...

By Matthew Heller • Nov. 20, 2019

DoorDash Sued Over Tipping Practices

The Attorney General for the District of Columbia filed a lawsuit against food delivery service DoorDash saying the company was “deceptive” when it took customer tips meant for delivery people and used them to cover base pay.“This practice was deceptive, as any reasonable consumer would have expe...

By Lauren Muskett • Nov. 20, 2019

Three Steps to Make CFOs Champions of the Data Revolution

The new CFO is expected to be a strategic thinker and communicator who drives change and value creation throughout the business. That’s well beyond the narrow confines of the finance department. A CFO is no longer allowed to just look back and provide explanations for things that have already hap...

By Nathan McMurtrey • Nov. 19, 2019

Energy Startup Creates Solar Energy Hot Enough for Industrial Processes

Solar startup Heliogen used mirrors, arrayed using artificial intelligence, to concentrate sunlight and generate temperatures above 1,000 degrees Celsius. At that temperature, fossil fuels can be replaced in critical industrial processes, including the production of cement, steel, and petrochemic...

By Lauren Muskett • Nov. 19, 2019

HP Rejects Xerox’s Takeover Offer

HP’s board of directors unanimously rejected Xerox’s offer to acquire the company for approximately $33 billion, saying the proposal significantly undervalued HP and was not in the best interests of HP shareholders. Xerox bid $22 per share for the company, consisting of 77% cash and 23% stock, on...

By Lauren Muskett • Nov. 18, 2019

Berkshire Hathaway Buys New Stake in Restoration Hardware

Berkshire Hathaway, the conglomerate led by Warren Buffet, owned 1.2 million shares in the furniture retailer RH, formerly known as Restoration Hardware, at the end of the third quarter.RH shares increased more than 5% on Friday. The company’s shares are up more than more than 40% already this ye...

By Lauren Muskett • Nov. 15, 2019

CFOs On the Move: Week Ending November 15

Natalie Brown Natalie Brown was named chief financial officer at Mesirow Financial. Brown joins the company from Nuveen Investments where she spent almost 20 years, most recently as managing director, head of Nuveen Advisory Services Finance. Previously, she worked at Kraft Foods and KPMG in acco...

By Lauren Muskett • Nov. 15, 2019

Gannett, New Media Shareholders Approve Merger

Shareholders of New Media Investment Group, the parent of GateHouse Media, and Gannett voted to approve their proposed merger, the companies said after special shareholder meetings on Thursday. The combination of GateHouse Media and Gannett will create the largest media company in the United Stat...

By Lauren Muskett • Nov. 14, 2019

How to Mitigate the Risk of Employee Fraud

With losses due to fraud increasing, companies should begin to consider ways to protect against misappropriation of assets. According to a 2018 report from the Association of Certified Fraud Examiners, the typical organization loses 5% of its annual revenue to fraud. Further,  23% of cases involv...

By David McCann • Nov. 13, 2019

Got Milk? Not Enough as Dean Foods Files Chapter 11

Dean Foods, America’s largest milk producer, has filed for bankruptcy protection, citing the drop in dairy sales as consumers switch to milk alternatives.The Wall Street Journal called Dean’s Chapter 11 filing “a fresh setback to a U.S. dairy industry struggling against declining U.S. milk consum...

By Matthew Heller • Nov. 13, 2019

Tesla Taps Berlin for Second Overseas Factory

Tesla chief executive officer Elon Musk said the company would begin building cars in Berlin, including batteries, powertrains, and vehicles. The Berlin factory would be the company’s second factory outside the United States.In late October, Musk said Tesla was ahead of schedule on trial producti...

By Lauren Muskett • Nov. 13, 2019

Juul to Cut 650 Jobs, Slash $1B in Costs

E-cigarette maker Juul said it would cut 650 jobs and reduce spending by $1 billion next year as the company responds to scrutiny of the vaping industry amid a flurry of illnesses.In October, Juul said it was cutting around 500 jobs. The 650 cuts would represent about 16% of Juul’s total workforc...

By Lauren Muskett • Nov. 12, 2019

OpenText to Buy Carbonite for $1.42B

Enterprise information company OpenText has agreed to buy Carbonite for $1.42 billion, or $23 per share, inclusive of Carbonite’s cash and debt, the companies said.The agreed price represents a 78% premium to Carbonite’s closing price on September 5, before media reports speculated on a possible ...

By Lauren Muskett • Nov. 11, 2019

Execs Could Boost Profits by Owning Health Care

Earlier this year, Dr. Eric Bricker, chief medical officer at AHealthcareZ, posted a video proposing that the hundreds of billions of dollars U.S. businesses spend on health care is emblematic of a curious fact: that they have enough cash not to fix the cost problem.The argument: If all S&P 5...

By David McCann • Nov. 11, 2019

Study: Companies Run by Billionaires Outperform

Companies that are controlled by billionaires have significantly outperformed global market averages over the last fifteen years, according to a report from UBS and PwC.The report, which looked at 603 public companies controlled by billionaires, said the companies’ annualized gain was 17.8% over ...

By Lauren Muskett • Nov. 8, 2019