Human Capital: Page 102

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    Call Ended: Sprint Nextel CFO Is Out

    Sprint Nextel officials announced that chief financial officer Paul Saleh will be leaving the company as part of a larger shake-up of its senior management ranks. In addition, Tim Kelly, chief marketing officer, and Mark Angelino, president, sales and distribution will depart, effective January 2...

    By Stephen Taub • Jan. 24, 2008
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    CFOs on the Move: Week Ending January 25

    • Gap promoted its interim CFO Sabrina Simmonsto the finance chief position permanently. Simmons was formerly vice president and treasurer of the clothing retailer. She replaces the position left empty last August when CFO Byron Pollitt stepped down. • As part of a management shake-up, Sprint N...

    By Kate Plourd • Jan. 24, 2008
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    Did the CFO Find No Balm in Gilead?

    Gilead Sciences Inc. said that Caroline Dorsa has resigned as Chief Financial Officer after just two months on the job.The biopharmaceutical company said she is leaving “to pursue another opportunity,” and gave no further details. Last week, the company announced that it plans to release its four...

    By Stephen Taub • Jan. 21, 2008
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    What You Don’t Know about Headhunters: 10 Tips

    At long last, you have made the tough decision: it’s time for a new job. Or maybe someone else decided that for you. Whatever the motivation — new owner, new boss, company going bankrupt, getting fired after a restatement — the first thing to do is find some executive recruiters. Right?At this po...

    By • Jan. 18, 2008
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    Five Years of Paychecks, Not One Day of Work

    An Illinois man was arrested Wednesday for allegedly receiving $469,000 from a New Jersey company he never worked for.According to press reports, Anthony Armatys of Palatine, Illinois was charged with theft for allegedly receiving electronic payroll bank deposits from Avaya Inc.The telecommunicat...

    By Stephen Taub • Jan. 17, 2008
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    Gap Fills CFO Spot

    International clothing retailer Gap Inc. has announced its current executive vice president of corporate finance and acting chief financial officer will take over the CFO spot permanently. Sabrina Simmons, 44, will assume the position vacated by former CFO Byron Pollitt who left Gap late last sum...

    By Kate Plourd • Jan. 17, 2008
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    MBA “Games” Lead to Real-World Investing Success

    In the 1960s, as a professor at Queen’s University in Kingston, Ontario, Dave Wilson made his students create hypothetical portfolios, buying and selling stocks — without money — to develop their institutional investing skills. These days, Wilson is eagerly encouraging a popular movement in busin...

    By Alan Rappeport • Jan. 17, 2008
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    CFOs on the Move: Week Ending January 18

    • Anthony Noto, who previously led Goldman Sachs’ communications, media, and entertainment research group, is joining the NFL as its new finance chief. Noto was an academic all-American linebacker at the U.S. Military Academy and later an Army Ranger. He will report to the league’s commissioner R...

    By Kate Plourd • Jan. 17, 2008
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    NFL Taps Goldman Partner as CFO

    A Goldman Sachs analyst and partner has been tapped as the new CFO of the National Football League. Anthony Noto, who runs the communications, media and entertainment team at the investment banking firm, will fill a role that has been vacant for five years, Bloomberg reported. Starting Feb. 24 he...

    By Stephen Taub • Jan. 16, 2008
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    New Job Cuts Heighten Recession Fears

    By now it’s not much of a surprise when banking organizations, still reeling from the subprime mortgage fiasco, announce layoffs, as Citigroup did Tuesday. But while that company’s latest round of job cuts was a big one — 4,200 employees, on top of the 17,000 made last spring — players in a vari...

    By Stephen Taub • Jan. 15, 2008
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    Companies Sharpen the Ax for Workers

    As several economic indicators weakened last year, one critical measure mostly held firm: employment. But now even that is faltering.The Labor Department has reported that the unemployment rate surged to 5 percent in December from 4.7 percent the previous month, and that government and private em...

    By Stephen Taub • Jan. 11, 2008
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    AFSCME Takes New Swipes at Exec Pay

    A prominent activist investor has disclosed an aggressive slate of new shareholder resolutions for the 2008 proxy season, all designed in one way or another to redistribute executive compensation to investors.One of the measures sought by the American Federation of State, County and Municipal Emp...

    By Stephen Taub • Jan. 11, 2008
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    CFOs on the Move: Week Ending January 11

    • Former General Motors CFO John Devine will reportedly become chairman of Dana Corp., which is expected to emerge from bankruptcy this month, two years after filing for Chapter 11. According to the Wall Street Journal, Devine is one of several individuals with automotive company experience slate...

    By Sarah Johnson • Jan. 10, 2008
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    Not-for-Profit Accounting Goes to School

    The key to success for universities in offering finance courses is to specialize in areas of demand — especially regional demand. In its latest course offerings, New York University’s School of Continuing & Professional Studies has identified not-for-profit accounting and governmental reporti...

    By Roy Harris • Jan. 10, 2008
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    Finance Exec Jumps to Rival Firm as CEO

    Energy Future Holdings has tapped a top finance executive at a rival company to be its first CEO.John Young, executive vice president of finance and markets at Exelon, will head up EFH, the energy holding company formerly known as TXU Corp. before its acquisition last October by Kohlberg Kravis ...

    By Stephen Taub • Jan. 9, 2008
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    Executive Musical Chairs at IDT

    IDT Corp.’s CFO is leaving that role to become chief operating officer. His replacement as finance chief? It’s the COO. Stephen Brown, who was head of operations only since October, is switching roles with Marc Oppenheimer, who will now focus on the telecom company’s expanding activities in the ...

    By Stephen Taub • Jan. 7, 2008
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    Pension Pact Costs UPS Debt Rating

    Moody’s Investors Service recently downgraded the long-term ratings of United Parcel Service Inc. debt, citing the package-delivery company’s recent agreement to withdraw from the Central States multi-employer pension plan (MEPP). The credit-rating company cut UPS’s senior unsecured debt to Aa2 f...

    By Stephen Taub • Jan. 4, 2008
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    A Call for Tougher SEC Action on Comp

    In its initial studies of the compensation-disclosure rules implemented by the Securities and Exchange Commission last year, the CFA Institute’s Centre for Financial Market Integrity was one of many parties that had some tough questions. After analyzing how companies applied the new rules during ...

    By Roy Harris • Jan. 4, 2008
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    CFOs on the Move: Week Ending January 4

    • Salary.com has appointed Chris Power as CFO, succeeding Ken Goldman. Power joins the firm from Monster Worldwide, where he had been the CFO of global operations for two years. He also held other CFO titles at Monster, which he joined in 2002. In addition, he has held finance roles at Nortel Net...

    By Sarah Johnson • Jan. 3, 2008
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    For CFOs, Rocky Beginnings

    Many CFOs, it seems, get off on the wrong foot when they join a company.In a new survey from the consultants at McKinsey, most chief financial officers report spending more time in their first 100 days on nitty gritty financial matters like financial planning, budgeting, and analysis; management ...

    By Stephen Taub • Jan. 2, 2008
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    Conference Confidential

    All Hollywood may clamor for tickets to the hottest Oscar soirees, but CFOs yearn for entrée into a different sort of party: the broker conference. “Conferences are an efficient way to talk to investors,” says Mark W. Joslin, CFO of Pool Corp., a Covington, Louisiana-based swimming-pool and irrig...

    By Lori Calabro • Jan. 1, 2008
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    And Not a Moment Too Soon

    Even as one new survey finds business ethics slipping to pre-Enron levels and another suggests that America’s teens are a little too willing to bend the rules in order to get ahead, a Big Four auditing firm has come forward with a teaching aid that aims to turn today’s college students into tomor...

    By • Jan. 1, 2008
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    A Loss Worth Reporting

    Feel free to call Mark Ticknor a big loser. He won’t mind.The 54-year-old CFO of Wesley Willows Corp., a Rockford, Illinois-based adult-care community, dropped 12 pounds after joining a companywide weight-loss program nine months ago. More than half of the company’s 260 employees signed on with t...

    By Kate Plourd • Jan. 1, 2008
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    Refusing to Roll Over

    The Securities and Exchange Commission has been gaining ground with its backdating cases, with the December $468 million settlement from UnitedHealth Group Inc. ex-CEO William McGuire setting a new record. But one target — Carl W. Jasper, ex-CFO of semiconductor maker Maxim Integrated Products — ...

    By Alix Stuart • Jan. 1, 2008
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    Koch Industries’s Steve Feilmeier

    As executive vice president and CFO of Koch Industries Inc., the largest privatecompany in the United States, Steve Feilmeier enjoys certain benefits. “We don’t worry about our earnings,” says the former PepsiCo executive. “We care deeply what our earnings are, but unlike a public company that re...

    By Lori Calabro • Jan. 1, 2008