CFOs on the Move: Week Ending Feb. 16

David Zinsner has been named finance chief at Micron Technology. He joins the company from Affirmed Networks, where he was president and chief operating officer; before that, he was CFO and senior vice president of finance at Analog Devices and CFO at Intersil.Allison Dukes SunTrust Banks has app...

By Joan Urdang • Feb. 16, 2018

The Winter of CFOs’ Discontent?

A Gallup study last spring found that 51% of U.S. workers aren’t “engaged” at work, meaning they feel no connection to their jobs and thus do the bare minimum. Another 16% are “actively disengaged,” meaning they resent their jobs and often gripe to co-workers.Perhaps because CFO covers the chief ...

By Vincent Ryan • Feb. 15, 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

Four Things to Expect at CFO Rising Hong Kong

We’re gearing up for another CFO Rising summit, this time in Hong Kong on April 18 and 19. The roster of speakers will cover topics such as the changing finance function, governance frameworks, talent development, and cross-regional finance functionality. Below is a preview of some of the hot top...

By Kerry Maruna • Feb. 15, 2018

Fannie Mae Takes $9.9B Hit From Tax Law

The new tax law is forcing Fannie Mae to seek a cash infusion from the U.S. Treasury for the first time since 2012.The mortgage giant said Wednesday it took a $9.9 billion writedown in the fourth quarter to account for the diminished value of deferred tax assets due to the Tax Cuts and Jobs Act.W...

By Matthew Heller • Feb. 14, 2018

The Case for Independent Insurance Brokers

Editor’s note: This article is a rebuttal to “Be Wary of Your Insurance Broker,” a recent article by risk management consultant Frank Licata. The first article described the relationships of insurance brokers and carriers with their corporate insureds as fundamentally anticompetitive. The author ...

By Tony Abrudeanu • Feb. 13, 2018

Sexual Misconduct Poses Financial Risks for Companies

Given the continual stream of news about alleged sexual misconduct, it’s hardly a startling idea that such behavior within a workplace can, if it becomes publicly known, present material financial threats to an organization.Cornerstone Capital Group is calling on investors to demand greater trans...

By David McCann • Feb. 12, 2018

How to Ensure ERP Software Implementations Succeed

Over years of being an expert witness in cases involving enterprise resource planning (ERP) software, I’ve had the opportunity to examine, analyze, and testify in court on all types of implementation failures.Eric Kimberling I’ve been an expert witness for SAP implementations, Oracle projects, an...

By Eric Kimberling • Feb. 12, 2018

CFOs on the Move: Week Ending Feb. 9

Laurence Tosi has resigned his post as finance chief at Airbnb. The company has hired a search firm to find a replacement for Tosi, who had held the top finance spot since 2015. Tosi, who previously was CFO at The Blackstone Group, had been a staunch champion of taking Airbnb public, but upon Tos...

By Joan Urdang • Feb. 9, 2018

Agility, Investment, and Human Capital at CFO Rising East

At CFO Rising East this March, finance leaders will gather to discuss strategy, investment, security, relationships, and more. The following offers a sneak peak of what to expect at the Boston event.Resource Reallocation and Strategic FrameworksNew technologies offer flexibility in areas where th...

By Kerry Maruna • Feb. 9, 2018

S&P Lowers Revlon Credit Rating to ‘CCC+’

Standard & Poor’s has downgraded Revlon’s credit rating further into junk territory, citing the beauty company’s mounting losses amid intense competition in the industry.S&P said Wednesday it was lowering all its ratings on Revlon, including the corporate credit rating to ‘CCC+’ from ‘B-‘...

By Matthew Heller • Feb. 8, 2018

CFOs on the Move: Week Ending Feb. 2

Linda Huber is leaving Moody’s Investors Service after more than 12 years as head of finance. The company has begun a search for a replacement for Huber, who joined Moody’s in 2005 from U.S. Trust, where she also led the finance function.Mark Garrett Mark GarrettThe Clorox Co. announced that CFO ...

By Joan Urdang • Feb. 2, 2018

Sony CFO Yoshida Named New Chief Exec

Sony CFO Kenichiro Yoshida, a driving force behind the Japanese electronics giant’s efforts to streamline its businesses, has been named to replace Kazuo Hirai as chief executive.The move ends Hirai’s six-year tenure at the helm of Sony, which has been marked by cost-cutting, the sale of the Vaio...

By Matthew Heller • Feb. 2, 2018

Keep a Close Eye on U.K. Trade Agreements

Amid all of the fanfare surrounding the recent U.S. tax reform deal, large company CFOs — particularly those from U.S.-based companies — could be forgiven for losing sight of that other big question mark on the corporate balance sheet. But when it comes to forecasting future earnings, navigating ...

By Brian Peccarelli • Feb. 1, 2018

SEC Halts $600M Bank ICO Scam

It was only a matter of time it seems, before scam artists connected traditional banking and cryptocurrencies in an initial coin offering (ICO).On Monday, the Securities and Exchange Commission obtained a court order halting an allegedly fraudulent ICO that targeted retail investors to fund what ...

By Vincent Ryan • Jan. 30, 2018

A CFO’s Quest for ‘The Price Is Right’

At large companies, many CFOs are only peripherally involved in pricing decisions. It’s often different at smaller firms, where finance chiefs tend to wear more hats. But even there, it’s probably quite rare for pricing to be the CFO’s primary focus, as it is at Xometry.Laurence Zuriff, Xometry I...

By David McCann • Jan. 30, 2018

MetLife Shares Plunge on Restatement News

MetLife shares fell sharply in late trading Monday after the insurer disclosed it would take a pre-tax hit of up to $165 million to fourth-quarter earnings due to a revision of reserve estimates.In a statement released after the end of the regular trading session, MetLife said a review of the pra...

By Matthew Heller • Jan. 29, 2018

CFOs on the Move: Week Ending Jan. 26

Online travel company The Priceline Group has chosen David Goulden to lead the finance function, effective March 1. He takes over for Daniel Finnegan, who announced last year that he would retire. Goulden formerly was president of the infrastructure solutions group at Dell Technologies.Restaurant...

By Joan Urdang • Jan. 26, 2018

Dollars, Deficits, and “Duh” in Davos

With the global financial punditry assembled in Davos this week, the topic of the dollar seems to have bubbled to the surface again.Down more than 10% from its December 2016 peak, the greenback is sagging at just the time when Treasury deficits are climbing and the Fed is paring back its purchase...

By Christopher Whalen • Jan. 25, 2018

Dell Exec David Goulden Joins Priceline as CFO

Priceline is beefing up the technological expertise in its C-suite by hiring David Goulden, who ran Dell Technologies’ giant data center equipment business, as CFO.The online travel agent said Monday that Goulden will replace Daniel Finnegan, who announced his retirement as finance chief last yea...

By Matthew Heller • Jan. 22, 2018

Be Wary of Your Insurance Broker

Economics shows us that lack of competition results in too-high prices and shoddy product. The market forces that correct for those are missing.Frank Licata Would you be surprised if I told you that the insurance industry exemplifies that principle?In his memoir “Am I Being Too Subtle?” Sam Zell,...

By Frank Licata • Jan. 19, 2018

CFOs on the Move: Week Ending Jan. 19

James Kavanaugh has been promoted to finance chief at IBM. He succeeds Martin Schroeter, who will become senior vice president of global markets. Kavanaugh joined the firm from AT&T in 1996 and most recently served as senior vice president, transformation and operations.Christine Battist Comm...

By Joan Urdang • Jan. 19, 2018

Cadillac Tax, Proposed Delay Don’t Pass Smell Test

As Shakespeare’s Juliet famously observed, “a rose by any other name would smell as sweet.” But when it comes to public policy, pretending that a course of action is something other than what it actually is often carries with it a palpable stink.The occasion of this rant is a proposal by House Re...

By David McCann • Jan. 18, 2018

How Tech Startups Should Manage Forex

Today’s markets are filled with surprises. From the Dow Jones Industrial Average reaching record highs to the VIX hitting record lows, the markets are fueled by geopolitical uncertainty and globalization.Brexit, the election of President Trump, and continued political turmoil and uncertainty rela...

By Chappy Chapman • Jan. 16, 2018

PwC Fined $2M Over Indian Accounting Fraud

India’s securities regulator has disciplined PwC for failing to detect a $1.7 billion accounting fraud at a defunct technology firm, saying it conducted “an eyewash of an audit exercise.”The punishment imposed on PwC by the Securities and Exchange Board of India (SEBI) includes a two-year ban on ...

By Matthew Heller • Jan. 12, 2018

CFOs on the Move: Week Ending Jan. 12

Mario Rizzo has been promoted to finance chief at The Allstate Corp. He succeeds Steve Shebik, who in turn has been promoted to vice chairman of the firm. Rizzo had led the finance function at Allstate Personal Lines, where he also served as corporate treasurer.Dean Foods has appointed Jody Maced...

By Joan Urdang • Jan. 12, 2018