Human Capital: Page 128

  • 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

    Rambus Says CFO, CEO Are in the Clear

    Rambus said Thursday afternoon that a probe by its audit committee found that “a significant number” of stock option grants were not correctly dated or accounted for, forcing it to take pre-tax, non-cash stock-based compensation charges in excess of $200 million. The chip-maker also reaffirmed a ...

    By Stephen Taub • Oct. 20, 2006
  • 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

    Snow Named Chair of Private-Equity Firm

    Former Treasury Secretary John Snow has been named chairman of Cerberus Capital Management, L.P.The firm manages $16.5 billion in private equity funds and other, related accounts. Its portfolio companies currently generate roughly $45 billion in annual revenues.Snow has extensive experience in pr...

    By Stephen Taub • Oct. 19, 2006
  • 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

    World Wrestling Entertainment’s Mike Sileck

    Since joining World Wrestling Entertainment, Inc. in June 2005, chief financial officer Mike Sileck has been busier than a referee at a Friday night smackdown.The WWE was founded by Vincent and Linda McMahon in Stamford, Connecticut, but Sileck has spearheaded several financial reporting initiati...

    By Stephen Taub • Oct. 19, 2006
  • 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

    • Freddie Mac has named Anthony Piszel executive vice president and chief financial officer, effective November 13. Piszel has served as executive vice president and CFO of Health Net Inc. since August 2004. He has also held senior financial positions at Prudential Financial, including corporate ...

    By Sarah Johnson • Oct. 19, 2006
  • 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

    U.S. Pension Funding Seen on the Upswing

    The funded status of defined-benefit pension plans throughout the world stayed flat in the second quarter, with U.S. plans showing a slight increase, according to Towers Perrin.During that three-month period, negative returns in the equity markets were offset by higher long-bond yields, the emplo...

    By Stephen Taub • Oct. 19, 2006
  • 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

    No Hard Feelings: SafeNet CFO, CEO Quit

    While the executive exodus over the stock option scandal is proceeding apace, sometimes the divorces seem amicable. On Wednesday, SafeNet, Inc. announced that its acting CFO and its chairman and chief executive officer were stepping down as a result of an ongoing review of the company’s stock-opt...

    By Stephen Taub • Oct. 18, 2006
  • 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

    More Execs Toppled by Backdating

    Backdating and misdating of options continues to exact a heavy toll on the executive suite. On Tuesday alone, both Sapient and KLA-Tencor lost executives or directors in actions that appeared related to internal investigations at both companies.Sapient announced that Jerry A. Greenberg resigned a...

    By Stephen Taub • Oct. 17, 2006
  • 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

    Altera CFO Retires; Options Probe Ended

    Nathan Sarkisian has retired a few months earlier than expected as finance chief of Altera Corp. In a separate announcement, the company said on Monday that it had completed a review of its past stock option practices and related accounting matters that found seven mismatches between recorded an...

    By Stephen Taub • Oct. 16, 2006
  • 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

    Freddie Mac Picks New Finance Chief

    Freddie Mac named Anthony Piszel finance chief and executive vice president. On Nov. 13, he will take over the duties held by president and chief operating officer Eugene McQuade, who has been serving as interim CFO since Martin Baumann left in March. At the time, Freddie Mac gave no reason for B...

    By Stephen Taub • Oct. 16, 2006
  • 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

    Home Depot CFO Tome’s Turf Expands

    CFO Carol Tome’s star seems to be on the ascent at The Home Depot. In the course of announcing sweeping changes in its retail organization, the home-improvement retailing giant said Thursday that besides her finance tasks, Tome’s portfolio will now contain store-operations support, including asse...

    By Stephen Taub • Oct. 13, 2006
  • 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

    Unnamed Exec Resigns over Option Finding

    Without identifying the individuals, Sanmina-SCI Corp. said an internal probe into its stock options practices unearthed “concerns regarding the actions of a former and a current member of management” and that company had accepted the resignation of the current manager.The two were “involved in t...

    By Stephen Taub • Oct. 12, 2006
  • 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

    Small Company’s CFO Quits; Options Cited

    Karen Walker resigned as CFO of Boston Communications, a small company that sells billing systems to mobile-phone companies. In a press release, the company linked Walker’s resignation to its “previously disclosed internal review relating to stock option grants.”Also apparently as result of the s...

    By Stephen Taub • Oct. 12, 2006
  • 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

    • Karen Walker has resigned from Boston CommunicationsGroup as CFO, effective immediately. The $39 million market cap company announced her resignation along with its general counsel’s “accelerated” retirement and the CEO’s job change to non-executive chairman of the board of the directors follow...

    By Sarah Johnson • Oct. 12, 2006
  • 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

    Prominent Ex-CFO Bows out of Apple Probe

    Questions have reportedly been raised about two directors—including one prominent former CFO—who served on a special committee examining previous Apple Computer stock option grants.Jerome York, a former longtime finance chief of IBM Corp. and Chrysler Corp., is an Apple director who had responsi...

    By Stephen Taub • Oct. 11, 2006
  • 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

    CEO Pay is Too High, Directors Say

    Nearly 40 percent of directors believe that pay of chief executive officers is “too high in most cases,” according to a new survey.Further, 81 percent of the board members favor increasing the link between CEO pay and performance, according to the 10th annual Corporate Board Effectiveness Study, ...

    By Stephen Taub • Oct. 11, 2006
  • 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

    Options Probes Claim Jobs of Top Execs

    Several more top executives have lost their jobs over the options backdating scandal.Officials at McAfee Inc. announced that the company fired president Kevin Weiss, and that chairman and chief executive officer George Samenuk has retired after a special committee determined it will need to resta...

    By Stephen Taub • Oct. 11, 2006
  • 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

    Survey: No Fretting Over Pension Rules

    Much ado about nothing, again. Last week, credit rating agency Moody’s Investors Service issued a notice saying that the affects of the new pension accounting rule would be modest in terms of corporate ratings. This week, company executives seem to be saying the same thing about rules governing c...

    By Stephen Taub • Oct. 10, 2006
  • 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

    CEO Turnover Sets Record in September

    Many CFOs lost their strategic partner last month as a record 152 CEOs left their positions, breaking the prior of record of 148 set in May, according to Challenger, Gray & Christmas, an outplacement firm. The September record works out to 7.6 CEO exits per business day.A total of 1,112 CEO c...

    By Stephen Taub • Oct. 10, 2006
  • 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

    KB Home to Delay Filing Over Options Probe

    KB Home announced that an internal probe launched in August determined that the actual measurement dates certain stock option grants likely differ from the recorded grant dates. As a result, additional non-cash charges for stock-based compensation relating to these grants may need to be recorded....

    By Marie Leone • Oct. 10, 2006
  • 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

    Delta Reaches Deal on Retiree Health-Care Benefits

    Delta Air Lines has reached an agreement with most of its unions to change its retiree medical benefits, according to an announcement made by Farella, Braun & Martel, the law firm representing the nonpilot-retiree committee. The changes will save the bankrupt airline about $50 million annuall...

    By Stephen Taub • Oct. 6, 2006
  • 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

    Board Pay Surges 14% at Large Companies

    Board compensation continues to soar. The median total pay for independent directors at the 500 largest U.S. companies increased 14 percent compared with last year — from $162,363 to $185,000 — according to consultancy Steven Hall & Partners.The firm’s report attributes most of the increase t...

    By Stephen Taub • Oct. 6, 2006
  • 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

    • Eastman Kodak has hired Frank Sklarsky, 49, as chief financial officer to replace Robert Brust, who is retiring in February. Sklarsky ended his two-year stint as ConAgra Foods’ CFO on Tuesday. Sklarsky will report to work at Kodak on October 30 as executive vice president and assume the CFO tit...

    By Sarah Johnson • Oct. 5, 2006
  • 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-Apple CFO Resigns From Board

    While most press headlines have highlighted the apology that Apple Computer CEO Steve Jobs made regarding the company’s stock options “problems,” news reports have either overlooked or buried the resignation of former Apple CFO Fred Anderson. In the same press release that announced the Jobs apol...

    By Stephen Taub • Oct. 5, 2006
  • 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

    Q&A: A New CFO Checks the Mail

    “Get your business moving,” is what the U.S. Postal Service website prods. And that may be one reason the government behemoth tapped industry outsider Harold Glen Walker as its new chief financial officer. With $70 billion in total costs, a workforce of 700,000, and postal service reform topping ...

    By Stephen Taub • Oct. 5, 2006
  • 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

    Companies Sued Over 401(k) Fees

    Most employees who have 401(k) plans focus mostly on fund performance and the growth of their nest egg. But, a growing number of participants are scrutinizing plan fees, and are launching lawsuits against their employers based on their findings.Lawsuits have been filed against some of the nation’...

    By Stephen Taub • Oct. 4, 2006