Human Capital: Page 115

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    Not Cleared for Takeoff

    Doug Duskin understands the importance of thinking outside the container. When he took over as vice president and controller of $1.2 billion pallet and container services company CHEP in 2004, Duskin tacked on some risk-management and treasury tasks to his duties in order to lay the groundwork fo...

    By Laura DeMars • June 1, 2007
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    So Much for Chemistry

    Recent events at Dow Chemical Co. can best be described as toxic. For the past two months, the company and its former longtime CFO, J. Pedro Reinhard, have been embroiled in a fight started by accusations that Reinhard was involved in a “secret takeover” plot against the company. Not surprisingly...

    By Laura DeMars • June 1, 2007
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    Siemens’s Joseph Kaeser

    It’s hard to imagine a CFO in a tougher job right now than Joe Kaeser. Just over a year into his position at $107.4 billion Siemens A.G., the 49-year-old finds himself confronted with a bribery scandal, uncovered last fall, that has shaken the German electronics company—and Germany itself. So far...

    By Lori Calabro • June 1, 2007
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    CFOs on the Move: Week Ending June 1

    • Cardinal Health has made adjustments after its principal finance officer resigned. The company has moved Jim Hinrichs, senior vice president and CFO of its clinical technologies and services division, to executive vice president and controller, effective June 29. He joined the company three yea...

    By Sarah Johnson • May 31, 2007
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    Verisign Taps Finance Pro as CEO

    VeriSign named William A. Roper, Jr., a one-time CFO who has had a relationship with the company for a number of years, as president and chief executive officer. He replaces Stratton Sclavos, who has resigned.Roper, who has served as a director of VeriSign since November 2003, most recently serve...

    By Stephen Taub • May 29, 2007
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    Hilton Dealmaker Gets Key to Corner Suite

    Matthew Hart, who as finance chief of Hilton Hotels played a key role in company’s acquisition of Bally’s Grand and Promus Hotel Co., has been named president and chief executive officer of the Beverly Hills–based chain, effective January 2008. Most recently Hart was president and chief operating...

    By Marie Leone • May 25, 2007
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    Ex-CFO Sues for Defamation

    The former CFO of Quovadx, a small software company, is suing his former employer for defamation, according to The Denver Business Journal.Gary Scherping alleges that Quovadx made “numerous public statements that falsely indicated [he] had engaged in improper and/or fraudulent accounting practice...

    By Dave Cook and Stephen Taub • May 24, 2007
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    CFOs on the Move: Week Ending May 25

    • CFO C.E. Andrews is taking over as vice chairman and chief executive of SLM Corp., which is better known as Sallie Mae. He replaces Thomas Fitzpatrick, who has resigned from the student-loan company. Fitzpatrick will provide advisory services over the next few weeks during the transition. Andre...

    By Sarah Johnson • May 24, 2007
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    Aon CFO Resigns

    Aon, the worlds’s second largest commercial insurance broker, announced that chief financial officer David P. Bolger, who also holds the titles of executive vice president and chief administrative officer, plans to leave the company. However, Bolger will remain CFO until Aon secures his successor...

    By Stephen Taub • May 23, 2007
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    Sallie Mae Taps CFO as CEO

    SLM Corp. announced that Thomas J. Fitzpatrick has resigned as vice chairman and chief executive officer. He will be succeeded as CEO by executive vice president and chief financial officer C.E. Andrews.The student-loan company, better known as Sallie Mae, gave no reason for the abrupt change, bu...

    By Stephen Taub • May 23, 2007
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    Finance Exec Leaves Ligand

    Drug maker Ligand Pharmaceuticals announced this week that on May 15, Tod G. Mertes resigned as vice president and interim chief accounting officer, effective immediately. The disclosure, in a regulatory filing, gave no explanation.The resignation took place about two weeks after the company anno...

    By Stephen Taub and David Katz • May 22, 2007
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    Not Contagious

    By one measure, consumer-driven health plans (CDHPs) are booming; by another, they appear to be nearly DOA. A survey by the National Business Group on Health and Watson Wyatt Worldwide found that 38 percent of the 573 large companies studied now offer CDHPs, up from a minuscule 2 percent just fiv...

    By Laura DeMars • May 22, 2007
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    DPL Settles Deferred-Compensation Suits

    In a case that hinged on the issues of fiduciary liability and deferred compensation, DPL Inc. settled lawsuits with three former top executives.Under the deal, former group vice president and interim CFO Caroline Muhlenkamp, former chairman Peter Forster, and former president and chief executive...

    By Stephen Taub • May 21, 2007
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    Shattered Glass (Lewis)?

    Glass, Lewis & Co. confirmed reports that former Securities and Exchange Commission official Lynn E. Turner had resigned on Friday as managing director of research. It was the second high-level resignation in a week at the investment-research and proxy-advisory company, which has encountered ...

    By Roy Harris • May 21, 2007
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    Study: CFO Pay Higher at Public Cos.

    Public or private? For CFOs, public companies come with demanding investors, quarterly reporting, and, of course, Sarbanes-Oxley compliance. But, according to a study by Financial Executives International released Monday, a job with a public company also comes with a bigger paycheck.The study loo...

    By Laura DeMars • May 21, 2007
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    Pfizer CFO Resigns

    Pfizer announced that Chief Financial Officer Alan Levin has resigned to pursue career opportunities outside the company. The stunning news came at the same time the embattled drug maker announced that John LaMattina, president of Pfizer Global Research and Development, will retire by the end of ...

    By Stephen Taub • May 21, 2007
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    Helping Employees Understand Fees

    Expect to see plenty of news come out of Washington, D.C., during the next few months as all three branches of government zero in on the fees that 401(k)-plan participants pay, often unknowingly.The judicial branch is the most active thus far, with at least 14 lawsuits pending against such compan...

    By Karen M. Kroll • May 21, 2007
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    Pay Proposals Pass at Penney, Verizon

    At Friday’s annual meeting, J.C. Penney shareholders voted to require their approval of executive severance packages, reported the Associated Press.The AP noted that last year, the retailer hired Catherine G. West as chief operating officer, then fired her after six months. West reportedly receiv...

    By Stephen Taub • May 18, 2007
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    Daimler on Hook if Chrysler Pensions Close

    In yet another sign of how hard it has been for DaimlerChrysler AG to extricate itself from its ill-fated ownership of Chrysler, the German carmaker has promised to pay $1 billion into the Chrysler pension plans if the plans terminate within five years, according to the Pension Benefit Guaranty C...

    By Stephen Taub and Roy Harris • May 18, 2007
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    CFOs on the Move: Week Ending May 18

    • Blake Jorgensen will fill Yahoo’s finance-chief slot left empty by Susan Decker. Last December, Yahoo named Decker head of its advertiser and publisher sector. Jorgensen co-founded investment bank Thomas Weisel Partners Group, where he has served in various capacities, including chief operating...

    By Sarah Johnson • May 17, 2007
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    Yahoo Search Results: New CFO

    After months of searching, Yahoo has finally chosen a replacement for former CFO Susan Decker. The company announced Tuesday that investment banker Blake Jorgensen would fill the slot next month. Jorgensen is the co-founder of investment bank Thomas Weisel Partners Group, which he helped start in...

    By Laura DeMars • May 15, 2007
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    CFO Turnover Slows, But Remains High

    The musical chairs game among CFOs has slowed down, according to a new study by Russell Reynolds Associates. Turnover among Fortune 500 CFOs decreased by 32 percent in 2006, compared to a 19 percent increase in 2005. The slow down is largely due to a 68 percent decline in the rate of promotions i...

    By Laura DeMars • May 14, 2007
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    SEC Clears Dean Foods of Backdating

    The Securities and Exchange Commission has dropped its informal investigation of Dean Foods’ option-granting process, the food and beverage company announced on Thursday. The SEC notified the Dallas-based company on May 7 that the regulator had ended its informal inquiry without any enforcement a...

    By Sarah Johnson • May 11, 2007
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    CFOs on the Move: Week Ending May 11

    • Hugh Scott-Barrett will resign as CFO and board member of ABN Amro on August 1. He will be succeeded by Huibert Boumeester, who is also a member of the managing board. ABN Amro is in the middle of a takeover battle between Barclays plc and a consortium headed by the Royal Bank of Scotland. “Giv...

    By Sarah Johnson • May 10, 2007
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    Ex-Dow CFO Ousted from Board

    J. Pedro Reinhard’s last official connection to Dow Chemical was severed Thursday when Reinhard, a former CFO-turned-board member, was excluded from the slate of board members re-elected to a new term during the company’s annual meeting.Reinhard retired as CFO of Dow in 2005 after 10 years, but s...

    By Laura DeMars • May 10, 2007