KKR to Buy BMC Software

Private equity firm KKR announced it has agreed to buy BMC Software from a group of investors that includes Bain Capital, Golden Gate Capital, GIC Pte Ltd, Insight Venture Partners, and Elliott Management.The terms of the deal were not disclosed.Last week, the New York Post reported the deal was ...

By William Sprouse • May 29, 2018

Durable Goods Orders Fall, But Key Capital Goods Beat Expectations

Overall orders for durable goods dropped 1.7% in the U.S. in April, according to data released Friday by the Commerce Department.But new orders for key capital goods made in the U.S. increased 1.0% last month, exceeding expectations. The latter category, which includes non-defense capital goods e...

By William Sprouse • May 28, 2018

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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

Gap Revenue Tops Estimates, But Earnings Fall Short

Gap reported total sales of $3.8 billion for the first quarter, exceeding analyst estimates, but its earnings per share was lower than expectations, CNBC reported.The company reported net income of $164 million, or 42 cents per share, four cents lower than analyst expectations. Same-store sales r...

By William Sprouse • May 25, 2018

CFOs on the Move: Week Ending May 25

Andrew Levy, who heads finance at United Airlines, has opted to leave the company. Gerry Laderman, treasurer and senior vice president of finance and procurement, will become acting CFO.Gerry Laderman Jennifer Lada has been promoted to the top finance spot at Web.com, effective July 1. She replac...

By Joan Urdang • May 25, 2018

Deutsche Bank Announces Job Cuts; Chair Survives Removal Vote

Deutsche Bank said it was cutting about 7,000 jobs in a major restructuring, and its Chairman Paul Achleitner survived a motion at the bank’s annual general meeting to remove him from the supervisory board.The bank, Germany’s largest, said it would cut global staff levels to less than 90,000, inc...

By William Sprouse • May 24, 2018

GDPR: We’re Just Getting Started

The official deadline for General Data Protection Regulation (GDPR) preparations falls on the Memorial Day holiday weekend in the United States. As you’ve discovered if you’ve been wading through GDPR preparations for the past year or so, this is not a set-it-and-forget-it regulation.GDPR, with i...

By Information Security Forum and Steve Durbin • May 24, 2018

Best Buy Q1 Earnings Solid, But Online Sales Slow

Best Buy reported first-quarter net income of $208 million and said sales at established stores rose 7.1%, beating analyst expectations by 2.9% on average, according to Consensus Metrix.Net income was up from $188 million a year ago, but the growth of online sales slowed, the retailer said.Domest...

By William Sprouse • May 24, 2018

Pay Raises for CFOs and Finance Staffers Outpace Last Few Years

Finance professionals received an average pay raise of 4.3% in 2017, according to a survey from the Association for Financial Professionals.The survey found chief financial officers got a base salary increase of 5.7%.Jim Kaitz, president and CEO of AFP, said the results showed the value of contin...

By William Sprouse • May 23, 2018

Macy’s Names Paula Price New CFO

Macy’s named Paula Price as its new chief financial officer, replacing retailing veteran Karen Hoguet, who is retiring. Price will begin her new role July 9, while Hoguet will remain as an adviser until February 2, 2019, The Cincinnati Business Courier reported.Hoguet has been with the company fo...

By Vincent Ryan • May 23, 2018

Sageworks Sold to Accel-KKR

After 19 years of operations, privately held financial analysis software provider Sageworks has been sold to Accel-KKR, a private equity firm, for an undisclosed amount.Brian Hamilton, the company’s founder, said the transaction would “allow Sageworks to have an even bigger footprint in the finan...

By Vincent Ryan • May 22, 2018

Supreme Court Rules Employers Can Require Class-Action Waivers

The U.S. Supreme Court ruled Monday that employers could block their workers from joining together as a class to fight legal disputes in arbitration agreements.The opinion, delivered by Justice Neil Gorsuch, is seen as a major victory for employers and for the Trump Administration in the biggest ...

By William Sprouse • May 22, 2018

Mature Tool Giant Plots Big Growth Push

This is the first of two articles based on a conversation with Donald Allan, CFO of Fortune 500 toolmaker Stanley Black & Decker since 2008.At the end of 2016, the year former finance chief James Loree was promoted to the CEO seat at Stanley Black & Decker, he gathered his team to talk ab...

By David McCann • May 18, 2018

CFOs on the Move: Week Ending May 18

Caryn Kauffman has been promoted to finance chief at the Securities and Exchange Commission. She joined the agency in 2011 as chief accounting officer and was named deputy CFO in 2013 and acting CFO in February of last year.Frederick Bohley MMetlife has promoted chief accounting officer Bill O’Do...

By Joan Urdang • May 18, 2018

New Blue Apron CFO is PepsiCo Veteran

The founders of Blue Apron might scoff at the notion that their company is in the packaged foods business, but the meal kit provider reached into that very arena to select its new finance chief.On Thursday, the company named 29-year PepsiCo veteran Tim Bensley the CFO of Blue Apron Holdings. The ...

By Vincent Ryan • May 17, 2018

Data Is a ‘Tangible’ Asset

Much talk is swirling around the need to value a company’s data as a business asset on its balance sheet. The idea is compelling. Data, in the right hands, is often as valuable as land, buildings, and equipment.If an insurance company, for example, can make better underwriting decisions than its ...

By Dr. Henna A. Karna • May 16, 2018

CFO’s Tech Companies to Watch 2018: Major Disruptors

We combed through websites, interviewed tech experts, and researched a host of product categories to assemble, once again, the roster of 20 companies that make up our annual “Tech Companies to Watch.” In the process, we uncovered a wide range of technologies and products that would be valuable to...

By David McCann • May 15, 2018

CFOs on the Move: Week Ending May 11

Colgate-Palmolive has promoted Henning Jakobsen to the top finance spot. He takes over from Dennis Hickey, who will become vice chairman. Jakobsen joined the firm in 1989, left to become CFO of Denmark-based Chr. Hansen, then rejoined the company in 2011. He had been corporate controller since la...

By Joan Urdang • May 11, 2018

The Renewed Importance of Purchase Price Allocations

The changes in the Tax Cuts and Jobs Act (TCJA) have drawn renewed attention to the importance of purchase price allocations for acquisitions of S corporations and partnerships.Purchase price allocations are often required for book and tax purposes. Thus, when an acquirer purchases a target it is...

By Jerome Schwartzman, Oscar Aarts, and Winston Shows • May 10, 2018

FedEx Makes Largest Pension Annuity Purchase in Years

Back in 2012, the U.S. defined-benefit (DB) pension world was lit up by news of two massive annuity purchases aimed at de-risking plan assets, by General Motors ($26 billion) and Verizon ($7.5 billion).Justin Owens While the general trend toward annuity purchases has widened since then, no other ...

By Justin Owens • May 10, 2018

CFO’s Tech Companies to Watch: X.ai

We combed through websites, interviewed tech experts, and researched a host of product categories to assemble, once again, the roster of 20 companies that make up our annual “Tech Companies to Watch.” We uncovered a wide range of technologies and products that would be valuable to finance chiefs,...

By David McCann • May 8, 2018

Snap Swaps Out CFO Vollero for Amazon Exec

Snap CFO Drew Vollero, who helped guide the parent of Snapchat through its initial public offering, is stepping down after another disappointing earnings report.The social media company announced in a regulatory filing Monday that Vollero would be replaced next week by Tim Stone, a vice president...

By Matthew Heller • May 8, 2018

CFO’s Tech Companies to Watch 2018: Exabeam

We combed through websites, interviewed tech experts, and researched a host of product categories to assemble, once again, the roster of 20 companies that make up our annual “Tech Companies to Watch.” We uncovered a wide range of technologies and products that would be valuable to finance chiefs,...

By Bob Violino • May 7, 2018

CFO’s Tech Companies to Watch 2018: UiPath

We combed through websites, interviewed tech experts, and researched a host of product categories to assemble, once again, the roster of 20 companies that make up our annual “Tech Companies to Watch.” We uncovered a wide range of technologies and products that would be valuable to finance chiefs,...

By David McCann • May 4, 2018

CFO’s Tech Companies to Watch 2018: Tipalti

We combed through websites, interviewed tech experts, and researched a host of product categories to assemble, once again, the roster of 20 companies that make up our annual “Tech Companies to Watch.” We uncovered a wide range of technologies and products that would be valuable to finance chiefs,...

By Vincent Ryan • May 3, 2018

The Quiz: Hire Learning

In the wake of the U.S. corporate tax cuts, about one-third of companies plan to increase domestic hiring. But with workers getting scarce, the fight for talent will dominate 2018. Companies will be pushed to use the latest tools to screen, test, and evaluate talent. How much do you know about jo...

By CFO Editorial Staff • May 3, 2018