Human Capital: Page 105

  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    The New Mix

    Mark Anderson is in the middle of overhauling his company’s 401(k) plan. Anderson is the finance chief of Granite City Electric Supply Co., a Quincy, Massachusetts-based distributor with about 180 employees. The project began because he and the company’s investment committee wanted better service...

    By Kate O'Sullivan • Dec. 1, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Homeland Security’s Tom Ridge

    As the first secretary of Homeland Security, Tom Ridge instituted tough new border controls and airport-security measures, and executed the famous color-coded alert system. Now the former governor of Pennsylvania has formed his own consulting firm, Ridge Global LLC, specializing in security and e...

    By Lori Calabro • Dec. 1, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Most Valuable Promotion

    The “Monster Deal” that Jordan’s Furniture concocted last spring would likely have any CFO biting his nails. The Massachusetts-based furniture retailer promised full rebates on any sofa, dining table, bed, or mattress bought between March 7 and April 16, if the Red Sox won the World Series. Guess...

    By Kate Plourd • Dec. 1, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    The Downside of Risk

    Last July, Merrill Lynch CFO Jeff Edwards told investors that the investment bank’s exposure to the subprime mess was “limited, contained, and appropriately marked.” But the more than $8 billion in third-quarter subprime write-offs the bank took showed that Edwards was a bit off the mark. The que...

    By Kate Plourd • Dec. 1, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Taking Flight: GOL’s Richard Lark

    These are heady times for Richard Lark, CFO of Brazil’s GOL Linhas Aereas Inteligentes S.A., which is shaping up as the airline equivalent of The Little Engine That Could. A former investment banker, Lark, 41, is presiding over the company’s transformation from a local, low-cost carrier into an i...

    By Marie Leone • Nov. 29, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    CFOs on the Move: Week Ending November 30

    • Delta Air Lines announced that new company president Ed Bastian will retain his duties as chief financial officer, according to the Associated Press. Bastian was the key executive involved in ushering the airline through Chapter 11 bankruptcy. He was appointed president on September 1, when Ri...

    By Sarah Johnson • Nov. 29, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Option Cases: Two More Down, One Stays Up

    The Securities and Exchange Commission has closed two more stock-option investigations without taking any action, but it moved closer to bringing charges in another case. Computer Sciences and Sepracor Inc. both announced that they received notices from the SEC that probes into their historical o...

    By Stephen Taub • Nov. 27, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    RIM Insiders Automate Sales of Company Stock

    Insiders at Research In Motion are the latest to adopt an automatic stock-selling program.Officially known as Rule 10b5-1 plans in the United States, they allow insiders to sell, donate, or transfer shares at pre-set prices, dates, and amounts, regardless of whether they are in possession of mat...

    By Stephen Taub • Nov. 26, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    CFOs on the Move: Week ending November 23

    • Jesper Ovesen—the finance chief widely credited with helping to turn around Lego, the Danish toy maker—is to become CFO of TDC, the Danish telecoms company, in January. Ovesen, who was at Lego between 2003 and 2006, is currently CEO of Kirkbi, an investment company. He replaces Hans Munk Nielse...

    By Eila Rana • Nov. 23, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    To Tell the Truth

    The shock of the five-year-old Kenneth Lonchar résumé scandal reverberated again a few months ago, when the once-celebrated former Veritas Software CFO and four other ex-executives were charged with filing false financial statements for Veritas — the Latin word, of course, for truth.In that more-...

    By Roy Harris • Nov. 21, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Will a New CFO Fix Children’s Place?

    Troubled retailer Children’s Place has hired a new finance executive to update its books.The company has appointed former American Standard Cos. executive Richard Paradise as its new senior vice president of finance, promising him the CFO post when its delinquent financial reports are filed with ...

    By Sarah Johnson • Nov. 21, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    CFOs on the Move: Week Ending November 23

    • H&R Block has hired Alan Bennett, the former CFO of Aetna, as its interim CEO. He retired from Aetna earlier this year after six years as CFO and time served as controller and head of internal audit. He is currently the audit committee chairman of Halliburton Co. and a director of The TJX ...

    By Sarah Johnson • Nov. 21, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Ex-Aetna CFO is New CEO on the Block

    The former CFO of Aetna, Alan Bennett, has come out of retirement to head up H&R Block as interim CEO. He retired from Aetna earlier this year. Richard Breeden, a former Securities and Exchange Commission chairman who recently led a successful proxy fight with H&R Block, was elected chai...

    By Stephen Taub • Nov. 20, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Deutsche Telekom to Shrink Accounting Staff

    Deutsche Telekom plans to eliminate 400 finance jobs, according to reports of a story in the German-language newspaper Financial Times Deutschland.The move, which would reduce the accounting department’s size by a third, reportedly is the result of a major loss of fixed-line customers for the Ger...

    By Stephen Taub • Nov. 20, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Health-Benefit Cost Hikes Hold Steady

    New evidence suggests that health-benefit costs may be stabilizing. A new report from Mercer Human Resource Consulting finds that cost increases have held steady this year and could actually slow in 2008.A Mercer survey of 3,000 employers revealed that health-benefit costs rose by 6.1 percent, or...

    By Alan Rappeport • Nov. 19, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    CFOs on the Move: Week ending November 16

    • John Rishton, the CFO of Dutch supermarkets group Ahold, has been confirmed as the company’s president and CEO. Rishton has been acting president and CEO since July 2007. Kimberly Ross, Ahold’s deputy CFO, has been appointed CFO. Both promotions are with immediate effect. • Giancarlo Guenzi has...

    By Eila Rana • Nov. 19, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Pension Annuity Fund Hit for Setting Its Own Fees

    Union Labor Life Insurance Co. has agreed to pay $20 million in a settlement with the U.S. Department of Labor for allegedly setting its own compensation for managing a pension-fund account in violation of the Employee Retirement Income Security Act.At issue in the case was “Separate Account J” (...

    By Stephen Taub and David McCann • Nov. 16, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    CFO Takes Ahold of Food Giant

    Ahold CFO John Rishton, who has been acting chief executive since July, has been named officially to the top spot. Deputy chief financial officer Kimberly Ross has been promoted to fill his vacated slot and selected for the company’s corporate executive board.Rishton, a British national, has made...

    By Stephen Taub • Nov. 16, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    CFOs on the Move: Week Ending November 16

    • McDonald’s has promoted Peter Bensen from corporate controller to CFO, effective January 1. The 11-year company veteran will succeed Matthew Paull, who announced this summer that he would retire to teach undergraduates at a San Diego university. Paull had been with the fast-food chain for 14 y...

    By Sarah Johnson • Nov. 15, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    GMAC Shuffles Execs, Hires New CFO

    GMAC Financial Services has hired Bank of America executive Robert Hull as its new CFO, Sanjiv Khattri, who is moving to the newly created position of executive vice president of corporate development and strategy, effective Dec. 3.In addition to his new responsibility for strategic planning and...

    By Stephen Taub • Nov. 14, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    McDonald’s Controller Moving Up to CFO

    McDonald’s has promoted Peter Bensen to executive vice president and CFO, effective January 1. The 11-year company veteran, currently senior vice president and corporate controller, will succeed Matthew Paull, who this summer announced he would retire to pursue a college-teaching career. Paull i...

    By Stephen Taub • Nov. 13, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    TeleTech to Restate over Option Grants

    TeleTech said it will restate financials for 1999 through 2007, and possibly 2008, after reviewing its historical practices for granting stock options and other equity-based compensation. The company, which provides business process outsourcing services, said the restatement will delay the filing...

    By Stephen Taub • Nov. 12, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    JetBlue Hits Air Pocket after CFO Quits

    JetBlue Airways investors apparently were spooked when John Harvey resigned as CFO on Thursday. The next day, the airline’s stock price dropped 9 percent to an all-time-low $7.04, down about 80 percent from its high several years ago. Harvey left to pursue other professional interests, the compa...

    By Stephen Taub • Nov. 12, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    Lubrizol Restates over Messed-up Benefits Accounting

    Lubrizol Corp. has completed a restatement of financials for 2004 through 2006 to correct accounting errors for five post-employment benefit plans in three non-U.S. countries. The errors resulted in a $66 million understatement of benefit-plan liabilities for 2005 and 2006. The restatement decr...

    By Stephen Taub • Nov. 12, 2007
  • Coworkers sitting around laptop at office table
    Image attribution tooltip
    Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
    Image attribution tooltip

    CFOs on the Move: Week ending November 9

    • Jean-Pascal Beaufret, CFO of Franco-American telecoms-equipment maker Alcatel-Lucent, is to leave the company as part of a major management reorganisation. He will be replaced by Hubert de Pesquidoux, head of the company’s Enterprise Group. Patricia Russo, CEO of Alcatel-Lucent, said Beaufret “...

    By Eila Rana • Nov. 12, 2007