Human Capital: Page 100

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    Survey: Finance Women See No Progress in Pay Parity

    Almost 100 percent of the respondents to a survey of women in finance believe that women are being paid less than men for comparable work.The figure, 96 percent of the 259 members of the Financial Women’s Association who took part in the survey, is identical to that reported by the FWA in 1998. T...

    By David Katz • March 7, 2008
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    CFOs on the Move: Week Ending March 7

    • Bristol-Myers Squibb’s finance chief Andrew Bonfield will leave the company “to seek new career opportunities.” He will be replaced by Jean-Marc Huet, the veteran finance director at Amsterdam-based Royal Numico N.V. • In a major realignment, General Motors’ CFO Frederick Henderson was named pr...

    By Laura Cameron and Kate Plourd • March 6, 2008
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    WaMu Moves to Insulate Bonuses from Loan Crisis

    Washington Mutual’s board of directors have found a way to keep bonuses heftier in a year of extraordinary mortgage-related losses: moving the goalposts by excluding consideration of the losses in the bonus calculation. The board’s Human Resources Committee last week established 2008 bonus target...

    By Stephen Taub • March 5, 2008
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    Judge Okays GM Retiree Health-care Trust

    A federal judge gave preliminary approval to a plan by General Motors Corp. to set up a voluntary employees beneficiary association, known as a VEBA trust, to fund retiree health care, the Associated Press reported.Last fall, GM and the United Auto Workers agreed to create the trust as part of th...

    By Stephen Taub • March 5, 2008
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    No Mark of ARS? Bristol-Myers Replaces Its CFO

    Bristol-Myers Squibb said that chief financial officer Andrew Bonfield will be leaving the company “to seek new career opportunities,” and that he will be replaced by Jean-Marc Huet, the veteran finance director at Amsterdam-based Royal Numico N.V.Bonfield will remain on the job until Huet takes ...

    By Roy Harris and Stephen Taub • March 5, 2008
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    At GM, CFO Will Ride Shotgun Next to Wagoner

    In a major realignment of General Motors senior management under CEO Rick Wagoner, the giant carmaker named chief financial officer Frederick (Fritz) A. Henderson as its new president and chief operating officer.Henderson will be replaced as CFO by Ray Young, currently group vice president-financ...

    By Stephen Taub and Roy Harris • March 4, 2008
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    Give and Take

    Most CFOs accept that tenures are getting shorter — either through their own choice or their employer’s — but how prepared are they for losing their job before they’ve even started it?Siemens, the €72 billion German engineering firm under investigation in 11 countries for corruption, recently rev...

    By Laura Cameron • March 3, 2008
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    Trompenaars Hampden-Turner Consulting’s Fons Trompenaars

    When Air France announced the takeover of KLM of the Netherlands in 2003, the Dutch media turned to Fons Trompenaars. Not only was he a well-known consultant and prolific author of books about cross-cultural issues, but as the progeny of a French mother and a Dutch father, he was also “a metaphor...

    By Jason Karaian • March 3, 2008
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    Moving On Up

    When Philip Moore, former group finance director of Friends Provident — a £7.7 billion (€10.2 billion) UK life insurer, took over as CEO in early 2007, he quickly moved to make his mark with a bid for Resolution, a rival UK company. The proposed merger — announced last July — would have created a...

    By Eila Rana • March 3, 2008
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    Hatching a Plan

    The European pension directive paved the way for the brave new world of pan-European company pension schemes. But a recent report from consultancy Towers Perrin estimates that there are only around 50 such schemes in place today.Though the directive was due to be adopted into national law in 2005...

    By Eila Rana • March 3, 2008
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    I’m OK, You’re in Trouble

    Could finance and accounting, the career category that seems immune to job cuts, be subject to the same economic malaise that affects American workers overall?That’s one interpretation of a recent survey conducted by recruiting and staffing firm Spherion Corp., which compared the attitudes of fin...

    By Kate Plourd • March 1, 2008
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    A Fatal Flaw for CDHPs?

    For several years, consumer-driven health plans have been billed as a potential solution to soaring health-care costs — or at least to companies’ share of such costs. CDHPs have made steady if unspectacular progress, with about one-third of companies now offering them and approximately 5 percent ...

    By Scott Leibs • March 1, 2008
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    Contrarians at the Gate

    “I just flew in from Davos and boy are my alms tired.” Such was the theme of January’s World Economic Forum, where a keynote address from Bill Gates on corporate philanthropy became one of the touchstones of the annual event.Less noticed was the release of a landmark study on the effects of priva...

    By Scott Leibs • March 1, 2008
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    Charles Schwab’s Joseph Martinetto

    Forgive Joe Martinetto if he sleeps soundly these days. Despite volatility in the markets and chaos in the financial-services sector, The Charles Schwab Corp. has remained fairly insulated from the turmoil. A conservative risk profile saved the company exposure to subprime-mortgage risk in its co...

    By Lori Calabro • March 1, 2008
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    Custom Fit

    When it comes to doling out development dollars for finance training, CFOs have a range of choices, from in-house classes and personal coaching to outside seminars and continuing education. They must also decide how to balance training with formal job-rotation programs and more ad hoc efforts to ...

    By Kate Plourd • March 1, 2008
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    CSI Pennsylvania

    Some Villanova University undergraduate students are learning first-hand how accounting skills can help take a bite out of crime.Every six months, Pennsylvania’s Delaware County District Attorney’s office accepts an accounting student from the university’s business school into its cooperative wor...

    By Kate Plourd • March 1, 2008
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    Closing Remarks

    At the end of the day, a CFO is only as good as the people around him. Those are the words of wisdom Dennis Powell, the retiring CFO of Cisco Systems Inc., has to offer — not just to his successor, Frank Calderoni, but to finance chiefs everywhere.The best finance teams should “think strategicall...

    By Kate Plourd • March 1, 2008
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    How Not to Control Workers’ Comp Costs

    Two years ago, the Department of Labor amassed $13.3 million worth of inaccurate payments for federal employees in workers’ compensation — and since then, it has done little to stop such discrepancies from happening again, according to the Government Accountability Office.In a recent report, the ...

    By Sarah Johnson • Feb. 29, 2008
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    Why Is CFO Turnover So High?

    For large-company finance chiefs considering job switches, the good news is that a lot of CFO positions are opening up. The bad news is that those who land one of them might not have it for long.In 2007 almost a quarter of the CFO posts at Fortune 1,000 companies — 234 of them, to be precise — we...

    By • Feb. 29, 2008
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    Survey: Tech CFOs Favor Shareholder Say on Pay

    CFOs, the ultimate team players, might not always agree with company policies they’re responsible for executing. Here, maybe, is a case in point: fewer than a third (31 percent) of 100 leading U.S. technology companies allow shareholders to vote on their executive-compensation plans, their CFOs s...

    By • Feb. 29, 2008
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    Everything Must Go

    For a company that runs casinos, bingo halls and online gaming sites, the UK’s Rank Group doesn’t like taking gambles. According to finance director Peter Gill, the company’s decision this week to offload its £700m (€917m) pension scheme—the largest ever “pension buyout” in the UK—gives members o...

    By Tim Burke • Feb. 29, 2008
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    Look Homeward, CFOs

    Since the ’90s, the trend for many Asian workers was to move out of their homemarket and grow their careers through international experience.Many countries have felt the sting of this brain drain. Some even sent millionsof people overseas to study and train in an attempt to feed their growingecon...

    By Mike Chambers • Feb. 29, 2008
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    CFOs on the Move: Week Ending February 29

    • Office Depot announced CFO Patricia McKay is resigning from the office supplier Tuesday, just before the company filed its annual report, which revealed a formal investigation by the Securities and Exchange Commission. Charles Brown, McKay’s predecessor and president of Office Depot’s internat...

    By Kate Plourd and Laura Cameron • Feb. 28, 2008
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    Investors, Directors Face Off over Exec Pay

    The majority of both company directors and institutional investors believe Corporate America’s image has been shattered by the way companies pay their executives. But that’s about all they agree on. Their views on the topic differ markedly when it comes to changing the system, according to a new ...

    By Sarah Johnson • Feb. 28, 2008
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    Jim Marsh, CEO, Cable & Wireless

    There’s a long list of troubled companies, ranging from bankrupt airlines tosluggish car companies, that have asked former CFOs tolead them out of financial dead ends. One of them is Cable & Wireless— the UK-based telecommunications company with extensive Asian operations— which two years ago...

    By Don Durfee • Feb. 27, 2008