Prepare Now for Next-Generation Cyber Threats

Public scrutiny of business leaders is at an all-time high, in part due to massive hacks and data breaches. It’s become progressively clear that hacked organizations will be blamed and held responsible for such events.Historically, the CFO hasn’t always been viewed as an integral member of the se...

By David McCann • April 2, 2019

Banking Regulators Propose New Rule on TLAC Debt

U.S. banking regulators have announced a proposed rule change they say would limit interconnectedness of large banking institutions and reduce the impact of a failure of a large organization on the financial system.Under current rules, the largest, most complex lenders are labeled “GSIBs,” or glo...

By Lauren Muskett • April 2, 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

SEC Charges College Controller with Fraud

The Securities and Exchange Commission announced charges against the former controller of the College of New Rochelle, Keith Borge, alleging he defrauded municipal securities investors by concealing the college’s poor financial condition.Investigators said Borge created false financial records, d...

By Lauren Muskett • March 29, 2019

CFOs on the Move: Week Ending March 29

Scott Parker Ryder System appointed Scott Parker finance chief, effective April 5. He takes over from Art Garcia, who announced in September that he would retire. Parker had headed finance at OneMain Financial since 2015.Bill Wafford has been selected to lead the finance function at J.C. Penney, ...

By Joan Urdang • March 29, 2019

Facebook Hit with Discrimination Lawsuit

The Department of Housing and Urban Development has charged Facebook with discrimination over its ad-targeting system. In a civil complaint, HUD said it was seeking damages for policies that let employers and landlords limit their audiences on the basis of race, ethnicity, or gender.Facebook sett...

By Lauren Muskett • March 28, 2019

Keeping Up with the Ever-evolving Consumer Goods Marketplace

The global power brands that have long defined the consumer goods industry are no longer untouchable. The rules of the game have changed, and consumers are now in control. They expect their consumer goods brands to provide the products, services, and experiences that meet their individual needs a...

By Lauren Muskett • March 28, 2019

J.C. Penney Hires Vitamin Shoppe CFO Bill Wafford

J.C. Penney named Bill Wafford as the company’s new executive vice president and chief financial officer, starting April 8.Wafford most recently served as executive vice president and CFO for The Vitamin Shoppe, where he played a significant role in reducing debt, decreasing inventory, and improv...

By Lauren Muskett • March 27, 2019

Customer Takes Over Vendor’s Finance Operation

There are three dominant players in the burgeoning robotic process automation sector, which is increasingly providing potentially game-changing efficiency tools, mostly for large companies.Blue Prism, the oldest and original market leader, coined the term “robotic automation” in 2012. Automation ...

By David McCann • March 27, 2019

New Loss Accounting Rule Will Dent Some Banks’ Capital Levels

The change in the way U.S. financial institutions report and account for loan losses will have an unequal effect on U.S. banks’ capital levels. But the overall industry impact will be a decline in the aggregate Tier 1 capital ratio, according to S&P Global Ratings.The Financial Accounting Sta...

By Vincent Ryan • March 26, 2019

Welcome to CFO’s New Website!

If you’re observant, and even if you’re not, you may notice something different today: CFO.com has a new look and feel. Here’s a guide to some of the new features:Latest Articles. You will now see our most recently published stories on the right-hand side of the home page. For a whole page of the...

By Vincent Ryan • March 25, 2019

How to De-risk a Pension Plan in 2019

Changes in interest rates, Pension Benefit Guaranty Corp. premiums, and mortality assumptions may affect plan sponsors’ decisions to de-risk (or not de-risk) defined benefit plan liabilities in 2019.Note that for purposes of this article, by “de-risking” we mean paying out a participant’s benefit...

By David McCann • March 25, 2019

CFOs on the Move: Week Ending March 22

Ford has chosen Tim Stone to lead the finance function to replace Bob Shanks, who is retiring at the end of the year. Stone resigned as finance chief at Snap in January after less than a year on the job. He had previously spent 20 years at AmazonAnnie Lee Interscope Geffen A&M Records promote...

By Joan Urdang • March 22, 2019

Ford Names Ex-Amazon Exec Tim Stone as CFO

Ford Motor is turning to the tech world for its new CFO, naming Tim Stone, formerly with Amazon and Snap, to replace Bob Shanks.Stone, 52, resigned as finance chief at Snap, the parent of the Snapchat app, in January after less than a year on the job. He had previously spent 20 years at Amazon, r...

By Matthew Heller • March 21, 2019

SEC Seeks Contempt Sanctions for Musk

The Securities and Exchange Commission has filed a court motion to hold Elon Musk in contempt for violating the terms of a 2018 settlement agreement over his social media use.Regulators said Musk has not made a “good faith effort” to comply with the settlement, which stemmed from an August 2018 i...

By Lauren Muskett • March 20, 2019

Norsk Hydro Hit by Extensive Cyberattack

Norsk Hydro, one of the largest producers of aluminum in the world, said it was working to contain a cyberattack that impacted operations “in several of the company’s business areas,” sending shares in the company down 3.4% in early trading.Shares recovered partially by midmorning.The news also s...

By Lauren Muskett • March 19, 2019

Factory Orders Tick Up Modestly

Orders for U.S.-made goods rose 0.1% in January, according to the latest figures released by the Commerce Department. Economists had expected an increase in orders of 0.3% for the month, according to Reuters. Year over year, factory orders were up 3.8%.The month-to-month dip may have been driven ...

By Lauren Muskett • March 19, 2019

Cyber Breaches Lead to Cutbacks in Dividends and R&D Spending

Not many institutional investors question an issuer’s approach to cybersecurity, but maybe they should.After a cyber breach, companies are likely to suffer only a short-term hit to their share prices, according to a new study. But in the long run, they typically pay lower dividends and invest les...

By Vincent Ryan • March 18, 2019

A University CFO Stretches His Wings

Whatever pressures corporate CFOs face today, finance chiefs at colleges and universities may have it just as bad — if not worse.Aside from pure financial pressures, which both groups of CFOs grapple with, many of those at educational institutions find themselves in an existential battle.Harvard ...

By David McCann • March 18, 2019

Rep. Waters: Pay Raise for Wells Fargo CEO ‘Outrageous’

Congresswoman Maxine Waters, chair of the financial services committee in the House of Representatives, called for the chief executive officer of Wells Fargo to be fired after the bank revealed he received a substantial pay increase in 2018.In a regulatory filing on Wednesday, the embattled finan...

By Vincent Ryan • March 15, 2019

Hong Kong Bans UBS Sponsor License, Fines It $48 Million

The Securities and Futures Commission (SFC) of Hong Kong has banned Swiss bank UBS from leading initial public offerings in the city for one year. It also fined the bank $48 million for maintaining improper listing standards.UBS is the first major bank involved in stock listings to be suspended a...

By Lauren Muskett • March 14, 2019

Rite Aid Execs Depart in Sweeping Restructuring

Rite Aid announced that its CEO John Standley was leaving the company along with CFO Darren Karst and COO Kermit Crawford as part of a sweeping restructuring.In a statement, the company said it was cutting about 400 corporate positions, which is about 20% of corporate jobs, in both its headquarte...

By Lauren Muskett • March 13, 2019

Avoiding Lulls in Business Transformation

One of the biggest problems CFOs and other leaders in the C-suite are challenged with during business transformation is keeping the momentum going through an implementation.When a new project starts, there is usually excitement during the strategy and innovation phases. You get your implementatio...

By Lauren Muskett • March 12, 2019

MoviePass Owner Says Q3 Revenue Overstated

The owner of MoviePass restated its financial results for the third quarter of 2018, saying it had incorrectly recognized $6.6 million in revenue from the struggling discount-ticketing service.In a regulatory filing, Helios & Matheson Analytics Inc. disclosed that it had overstated MoviePass ...

By Matthew Heller • March 12, 2019

IEA: U.S. to Drive Oil Supply Growth

U.S. crude oil exports will nearly double to 9 million barrels per day by 2024, surpassing shipments from Russia and nearly catching up to Saudi Arabia, currently the world’s largest oil exporter, the International Energy Agency (IEA) forecasted.The agency said it expected the U.S. to add another...

By Lauren Muskett • March 11, 2019

CFOs on the Move: Week Ending March 8

National Geographic Partners, a joint venture between National Geographic and 21stCentury Fox, appointed Akilesh Sridharan finance chief. He previously was senior vice president of corporate development and strategy for Fox Networks Group.Ravi Ahuja Ravi Ahuja will head finance at Disney Televisi...

By Joan Urdang • March 8, 2019