Human Capital: Page 103

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    CFOs on the Move: Week Ending December 28

    • Siemens, the German engineering giant currently under investigation by authorities for numerous bribery scandals, has appointed Ralf Thomas CFO of its Industry sector. Thomas is second choice for the role, which was originally offered to Hannes Apitzsch but later revoked after it emerged that A...

    By Eila Rana • Dec. 28, 2007
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    New Year’s Resolution: Lower Health-Care Costs

    A new federal rule affirms how companies can keep their post-retirement health-care costs down.Employers that provide health benefits to retirees can coordinate those benefits with Medicare without violating the Age Discrimination in Employment Act (ADEA) under a finalized rule from the Equal Emp...

    By Stephen Taub • Dec. 27, 2007
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    CFOs on the Move: Week Ending December 28

    • Coca-Cola Bottling Co. Consolidated has hired one of its directors, James Harris, as senior vice president and CFO, effective January 25. He succeeds Steven Westphal, who has been the CFO since 2005 and will become executive vice president of operations and systems. Harris joins the bottler fro...

    By Sarah Johnson • Dec. 27, 2007
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    Circuit City Grants Pay to Stay

    Circuit City Stores announced sweeping incentive awards for top executives in an effort to stem a tide of departures at the struggling consumer-electronics retailer. Each executive vice president will receive a $1 million cash retention award, while senior vice presidents will get $600,000. The ...

    By Stephen Taub • Dec. 20, 2007
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    The Storm over a Corporate Pay Study

    Like a lightning rod during a Maine thunderstorm, The Corporate Library has a way of drawing charges — from critics in whatever industry it is studying at the time. And sometimes, from outsiders as well; CFO.com, for example, raised questions a year ago about flaws in TCL’s report on stock-option...

    By Roy Harris • Dec. 20, 2007
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    CFOs on the Move: Week Ending December 21

    • Time Warner Cable Inc. has promoted Arthur Minson from senior vice president of finance to executive vice president and deputy CFO. He joined the company nearly two years ago from AOL, where he was senior vice president of corporate finance and development. He has also worked at Rainbow Media H...

    By Sarah Johnson • Dec. 20, 2007
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    Best of 2007: Careers

    Managing a finance career, from the entry-level years working for the CFO to success as a finance chief at the company of one’s choice, is much easier to do when you can follow sage advice. And sometimes the best lessons are learned from studying examples of what can go wrong.At CFO.com, examinat...

    By CFO Editorial Staff • Dec. 19, 2007
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    HR Exec Nailed for AP Fraud

    Three people were criminally charged for scheming to defraud American International Group with phony invoices from recruiting firms. One of the three, John Falcetta, formerly was vice president of human resources for AIG’s life insurance division from September 2005 to August 2007. The others ar...

    By Stephen Taub • Dec. 19, 2007
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    When Turnover Turns Toxic

    When key employees in critical roles begin to leave a company, the consequences can be devastating. And action has to be taken fast to find out why it’s happening and how to stop it. But might there be a way to prevent it in the first place?According to one recent report, prevention starts with i...

    By Roy Harris • Dec. 18, 2007
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    How to Lose a Job Without Even Starting

    In a somewhat bizarre turn of events, Siemens says it has revoked the appointment of Hannes Apitzsch as CFO of the company’s industry sector following a corruption investigation.The German electronics giant made the decision after examining investigation records of the Nuremberg public prosecutor...

    By Stephen Taub • Dec. 14, 2007
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    Oxy CFO Chazen Adds President Title

    Stephen Chazen, the CFO of Occidental Petroleum, has taken on an additional title: president.In addition to finance, Chazen already was responsible for the company’s overall strategy, corporate development, oil and gas marketing, and chemicals. Now he will also be in charge of oil and gas explora...

    By Stephen Taub • Dec. 14, 2007
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    CFOs on the Move: Week ending December 14

    • Siemens, the German electronics and engineering firm, has revoked the appointment of Hannes Apitzsch as CFO of its industrial sector. After appointing him only a week ago, the company said that new information it examined from the Nuremberg public prosecutor’s office led it to conclude that a “...

    By Jason Karaian • Dec. 14, 2007
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    Top Troika at Panera Includes CFO

    The chief financial officer is rising at Panera Bread. The company said president Neal Yanofsky has resigned and will be replaced by a team of three executives: CFO Jeff Kip, CEO Ron Shaich, and executive vice president John Maguire. Shares of Panera, the owner and franchiser of 1,137 bakery-caf...

    By Stephen Taub • Dec. 13, 2007
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    CFOs on the Move: Week Ending December 14

    • Panera Bread Co. senior vice president and CFO Jeff Kip will split presidential duties with executive vice president John Maguire. The current president, Neal Yanofsky, is stepping down January 4 to pursue other opportunities.• CFO Christopher Gaut has moved up at Halliburton. He has been nam...

    By Sarah Johnson • Dec. 13, 2007
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    DoL Wants “Hidden” 401(k) Fees Revealed

    In an effort to bring “hidden” or excessive 401(k) fees to light, the Department of Labor on Thursday proposed requiring retirement- benefit-plan service providers to make added disclosures to plan fiduciaries. The aim is to help the plan sponsors gauge the reasonableness of what they pay the ser...

    By • Dec. 12, 2007
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    Ex-Tyco Lawyer: Show Me the Money

    A former Tyco lawyer who represented two former executives now imprisoned for stealing from the company says the conglomerate owes him $870,000, the Associated Press reported. The attorney, Joshua Berman, filed a lawsuit insisting he is owed the money for work performed from July through November...

    By Stephen Taub • Dec. 12, 2007
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    USPS’s CFO Delivers Corporate Mentality

    When Glen Walker accepted the job of CFO of the U.S. Postal Service more than a year ago, he said he was surprised at how much its systems, processes, and people were like those of a large corporation. In fact, it made him more comfortable with his decision to become a public servant.But things h...

    By • Dec. 12, 2007
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    Death Toll

    Considering life expectancy in the UK is increasing by two years every decade, or five hours a day, it’s surprising that the average FTSE 100 company assumes that the life expectancy of recently retired employees will rise more slowly than suggested by official statistics. The UK’s blue-chip comp...

    By Laura Cameron • Dec. 10, 2007
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    The Right Role

    It’s summer time and Caroline Stockmann — the former head of global business planning at Novartis, a $37 billion (€25.4 billion) Swiss pharmaceuticals company — is trying to relax in Italy during a family holiday with her husband, Michael, and two children, two-year-old Liam and eight-year-old Re...

    By Eila Rana • Dec. 10, 2007
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    New Year Resolutions

    There’s no better time for CFOs to take a step back and reflect on the lessons of the past year.The first lesson: cash is always king. Throughout 2007, we reported on how companies boosted their cash flow and carefully put stockpiles to work. This discipline paid off for many, especially when it ...

    By Janet Kersnar • Dec. 10, 2007
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    Back in the Game

    During his rugby-playing days, Steve Phillips rose to captain of Amman United, a club in the lower divisions of the Welsh league. Now, at 43, he finds himself back in rugby, this time at the very top of the sport in Wales. Of course, as finance director of the Welsh Rugby Union (WRU), the game’s ...

    By Laura Cameron • Dec. 10, 2007
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    Axel Springer’s Steffen Naumann

    Even by the sensationalist standards of Bild, Steffen Naumann’s first presentation of the annual results at Axel Springer, the German tabloid’s parent company, made for shocking reading. Naumann joined the group as CFO in late 2001, just in time to close the books on the first annual loss in com...

    By Jason Karaian • Dec. 10, 2007
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    Have Passport, Will Travel

    In the course of his 26-year finance career, Dean Gardner has lived in Europe, Africa, Asia and South America, for a total of nine years outside his native United States. Looking back, Gardner, CFO of horticultural company International Garden Products, says he found the posts to be lucrative, in...

    By Art Detman • Dec. 10, 2007
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    Unibail-Rodamco’s Peter van Rossum

    Sometimes it’s better to be boring. In a year when many big M&A deals were drawn out, contested affairs, French commercial property group Unibail’s merger with Dutch peer Rodamco Europe bucked the trend, closing in just three months with no major hitches. That’s not to suggest it was simple —...

    By Tim Burke • Dec. 10, 2007
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    CFOs on the Move: Week ending December 7

    • Jeremy Darroch is stepping up from CFO to CEO at BSkyB, the UK-based television group owned by Rupert Murdoch’s media conglomerate News Corp. Darroch replaces James Murdoch, Rupert’s 34-year-old son, who is now head of European and Asian operations for News Corp. Having joined BSkyB in 2004 as ...

    By Jason Karaian • Dec. 7, 2007