Human Capital: Page 106

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    The World Bank’s Vincenzo La Via

    “We are not a bank in the common sense,” reads the corporate brochure. That’s putting it mildly. The World Bank, established in 1944, is a sprawling lending institution, made up of two separate organisations and owned by 185 national governments. Under the World Bank umbrella, the International B...

    By Jason Karaian • Nov. 9, 2007
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    Intuit Hires Ex-CFO of Visa

    The company behind TurboTax has hired the former CFO of Visa USA as its new finance chief.R. Neil Williams will join Intuit, a software company, in January. He replaces Kiran Patel, who became general manager and senior vice president for the company’s consumer-tax business in June. Patel had bee...

    By Sarah Johnson • Nov. 9, 2007
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    CFOs on the Move: Week Ending November 9

    • Time Warner has named John Martin its new executive vice president and chief financial officer, effective January 1. He will move over from the company’s cable TV subsidiary, where he holds the same titles. Martin will succeed Wayne Pace, who is scheduled to retire by the end of the year. Mart...

    By Sarah Johnson • Nov. 8, 2007
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    You’re Out of a Job, Now What?

    Five years ago, Peter Iannone watched his chief financial officer job at Envenergy, a small Santa Barbara-area technology company, disappear in a merger. Knowing that the top finance spot would be offered to the CFO of the other company, Colorado-based Encorp, he began to plan for a new future.Bu...

    By Marie Leone • Nov. 7, 2007
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    Today’s Accounting Crop: The Kids Are Alright

    The generation gap between many CFOs and new accounting and finance pros often seems unbridgeable. On one side are executives in their late 30s to their 50s raised on notions of company loyalty. Many also have a deeply rooted sense of hierarchy dictating that underlings must keep a respectful dis...

    By David Katz • Nov. 6, 2007
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    Ex-Citi CFO Thomson Eyes Starting PE Fund

    Todd Thomson, the former Citigroup Inc. CFO and one-time chairman and CEO of its Global Wealth Management Division, says he may raise $1 billion to $2 billion in a new private equity fund geared to financial-services investing.According to a Reuters report, Thomson, whose current Headwaters Capit...

    By Stephen Taub • Nov. 6, 2007
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    Citigroup Slapped with 401(k) Suit

    Participants in Citigroup’s 401(k) plans are suing the company and others for sinking a large chunk of their money into the company’s stock and allegedly causing them to lose more than $1 billion.The complaint charges the company, former CEO Charles Prince, the plans’ administrative committee, a...

    By Stephen Taub • Nov. 6, 2007
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    MasterCard Woos Away Tyco Treasurer

    MasterCard has selected Tyco executive Martina Hund-Mejean as its new chief financial officer. She replaces Chris McWilton, who was named president of global accounts. Both moves are part of a management shake-up that began with COO Alan Heuer being appointed to the Office of the CEO, where he w...

    By Stephen Taub • Nov. 6, 2007
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    Time Warner Plugs in Martin as CFO

    Time Warner has named John Martin as its executive vice president and chief financial officer, effective January 1. He will move over from the company’s cable TV subsidiary, where he holds the same titles. Martin will succeed Wayne Pace, who is scheduled to retire at year-end.The change in finan...

    By Stephen Taub • Nov. 6, 2007
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    Exec Pay Blunder Trips up Outdoor Channel

    Outdoor Channel Holdings said it will restate its financials for the first two quarters of this year to correct the amortization period for some executive compensation costs. While the adjustments will materially impact those two financial statements, the full-year compensation expense is expecte...

    By Stephen Taub • Nov. 6, 2007
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    Placing a Premium on Talent

    Aviva, a UK’s largest insurer, surprised the markets earlier this year when Richard Harvey, its deal-making CEO for the past ten years, announced plans to leave the firm to work on development projects in Africa. Despite the turmoil this created, it was good news for finance director Andrew Moss...

    By Janet Kersnar • Nov. 5, 2007
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    H&R Block’s CFO Steps Down

    H&R Block CFO William Trubeck has relinquished his role after three years, effective immediately, the company announced. Treasurer Becky Shulman was named acting CFO. In a company press release, Trubeck said he’s proud of what his team accomplished during a “challenging period of time.” The c...

    By Sarah Johnson • Nov. 5, 2007
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    McDonald’s Linda Buckley

    McDonald’s European restaurants are changing. Out go the bright lights and the plastic yellow and red interiors synonymous with the $22 billion (€16 billion) US fast food chain. In come soft lighting, easy chairs, leather stools and art deco walls, all in earthy shades of chocolate brown, camel, ...

    By Eila Rana • Nov. 5, 2007
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    Doublespeak

    Hiring a CFO is a lot like looking for a place to live. A house described as “cozy” is often small, and a place with “character” is just rundown. By the same token, the reasons that executives leave their companies usually belie the “spend more time with family” or “personal reasons” boilerplate....

    By Laura Cameron • Nov. 5, 2007
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    Making of a Mentor

    Even the best of us can use some coaching. In the CFO suite, that often comes from the finance expert serving on the company’s board of directors.With 17 years’ experience as a CFO, Earl Fry, finance chief of California-based Informatica, acts as mentor to his compatriots at the two companies on ...

    By CFO Editorial Staff • Nov. 5, 2007
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    Formula 401(k) for Education?

    Corporations have long enjoyed tax credits for reimbursing employees’ tuition expenses for education related to their current job. But now, with the skills needed in the workplace changing seemingly by the month, whether that’s sufficient is debatable.And so, for the first time, a corporation is ...

    By • Nov. 2, 2007
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    Verizon Adopts Say on Pay

    On Thursday Verizon Communications became the second company to announce a policy that gives shareholders a nonbinding, advisory vote on executive compensation, a measure widely called Say on Pay.The first to do so, last February, was insurance company Aflac. Both companies will begin the new po...

    By Stephen Taub • Nov. 2, 2007
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    More Signs of Employment Plunge

    Corporate layoffs continued to proliferate this week, but are they enough to make the unemployment rate surge? It depends on what data you look at.The Labor Department reported Thursday that the number of people who filed initial claims for unemployment benefits fell more than expected last week...

    By Stephen Taub • Nov. 1, 2007
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    CFOs on the Move: Week Ending November 2

    • RR Donnelley & Sons Co. has appointed four-year veteran Miles McHugh as executive vice president and CFO. The print services company made the announcement more than seven months after promoting McHugh’s predecessor, Thomas Quinlan, to CEO and president. McHugh has been RR Donnelley’s senio...

    By Sarah Johnson • Nov. 1, 2007
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    Former CFO Now Pilots AirTran

    AirTran Holdings Inc. named one-time company chief financial officer Robert L. Fornaro to be CEO. He succeeds Joe Leonard, who continues as chairman of the parent of AirTran Airways.Fornaro, who most recently was president and chief operating officer, joined the Orlando-based discount-fare airlin...

    By Stephen Taub • Nov. 1, 2007
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    Delta Air Lines’s Edward Bastian

    Delta Air Lines has encountered its fair share of turbulence this year. The nation’s third-largest carrier not only spent the first quarter of 2007 in Chapter 11, it also had to thwart a $9.5 billion hostile-takeover bid from US Airways Group Inc. and convince creditors and shareholders that its ...

    By Lori Calabro • Nov. 1, 2007
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    Managing Pension Liabilities: The Road Ahead

    There was a time when the journey toward a financially secure retirement ran straight and smooth, both for employers and employees. Companies offered generous pensions to nearly all workers, and most workers logged many years of experience with a single company, confident that when it was time to...

    By Russ Banham • Nov. 1, 2007
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    Farewell to a Finance Whiz

    The world of finance lost a legend this past October when former Ford Motor Co. CFO J. Edward Lundy died at the age of 92.Lundy was one of the 10 “Whiz Kids” who were credited with pulling the auto company out of a 15-year profit slump after World War II, according to the Automotive Hall of Fame....

    By Kate Plourd • Nov. 1, 2007
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    What Goes Around

    In his heyday, Bill Lerach was so ruthless a class-action lawyer that in Silicon Valley his name was synonymous with being sued. Now Lerach is being “Lerached” himself — to the great delight of much of the corporate community. That community will be less than thrilled with his sentence.In Septemb...

    By Kate Plourd • Nov. 1, 2007
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    See You at the Office

    Ten years ago, Sue Sachdeva became the first CFO ever quoted in CFO magazine on the subject of telecommuting. She offered a strong endorsement of the concept, in no small part because by telecommuting she was able to continue working for Milwaukee-based Koss Corp. even after she had relocated to ...

    By Karen M. Kroll • Nov. 1, 2007