Human Capital: Page

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    Climbing Vine

    Hitting the books: B.A., UCLA (1980); M.B.A, The Wharton School, University of Pennsylvania (1982)First job in a suit: Assistant director of admissions at The Wharton School (2 years)Big break: Landing a job in the planning department at PepsiCo (12 years, 7 jobs, 5 states)In the CFO office: Alli...

    By CFO Editorial Staff • July 1, 2006
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    In Europe’s C-Suites, a Five-Year Itch?

    It seems as if five years is the magic number for executive tenure in Europe, according to a study by Cantos, a London-based online financial broadcaster.At FTSE 100 companies, chief executive officers average 4.7 years in office; finance directors, 4.8 years; and chairmen, 4.5 years. Cantos also...

    By Stephen Taub • June 30, 2006
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    Most Companies to Trim Retiree Health Benefits

    A vast majority of employers are planning to curtail their retiree medical plans for current and future retirees in the next five years, according to a new study by Watson Wyatt Worldwide.In a survey of 163 companies, the consulting firm found that only 5 percent of employers do not expect to pla...

    By Stephen Taub • June 29, 2006
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    CFOs on the Move

    • Novell has named Dana Russell interim chief financial officer. He replaces Joseph Tibbetts, who the board terminated earlier this month. Russell joined Novell in 1994 and has served as a vice president of finance, corporate controller, and most recently treasurer.• Todd Shipyards has appointed ...

    By Marie Leone • June 29, 2006
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    Three Companies Report Options Probes

    At least three more companies say they are being investigated by federal officials looking into stock option grants doled out to executives. Another says it might need to restate prior results to make adjustments to its accounting for previous stock option grants.There are 54 companies currently ...

    By Stephen Taub • June 28, 2006
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    Pension Plans Disappearing

    A new report suggests that defined benefit pension plans, under pressure on several fronts, are disappearing at an increasing pace.The report, by human resources consulting firm Watson Wyatt, found that the number of Fortune 1000 companies that have frozen or terminated their defined benefit pens...

    By Stephen Taub • June 27, 2006
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    Executive Pay Prognosis: Marginal Change

    Despite the growing outcry from institutional investors about the size of senior management pay packages and the increased scrutiny from regulators worried about cloudy reporting, there won’t be a sea-change in compensation structures any time soon, experts say.Instead, board compensation committ...

    By David Katz • June 27, 2006
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    Home Depot Faces SEC Options Probe

    Home Depot disclosed Friday that the Securities and Exchange Commission has launched an informal inquiry into its stock-option practices.The home-improvement retailer stated that it intends to fully cooperate with the SEC. The company does not expect the inquiry to have a material adverse effect ...

    By Stephen Taub • June 26, 2006
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    CFOs on the Move

    • Massachusetts Mutual Life Insurance has named Michael Rollings executive vice president and chief financial officer. Formerly the company’s senior vice president and deputy chief financial officer, Rollings had been serving as interim CFO since the retirement of Howard Gunton in April. Rollings...

    By Marie Leone • June 22, 2006
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    CFOs Report Hefty Post-Sarbanes Hiring

    Corporate finance staffing at public companies has increased by 68 percent since Sarbanes-Oxley was implemented in 2002, according to the latest quarterly survey of chief financial officers conducted by Financial Executives International and Baruch College’s Zicklin School of Business.Staffing al...

    By Stephen Taub • June 22, 2006
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    The Hundred Group’s Philip Broadley

    There’s something to be said for keeping a low profile. For the past 30 years, The Hundred Group — an informal club of CFOs hailing primarily from the 100 largest listed companies in the U.K. — has been quietly making its mark on national business issues, eschewing the glare of the public limelig...

    By Janet Kersnar • June 22, 2006
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    A Casual Turnaround

    What was Dennis Hernreich thinking? Four years ago, Hernreich, then CFO and chief operating officer of the sputtering Designs Inc., was part of a management team that set out to revitalize a dying retail clothing company by buying another failing clothing company. In 2002, he and the company’s ch...

    By Marie Leone • June 20, 2006
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    SEC Widens Options Probe: Report

    The Securities and Exchange Commission has broadened its options-grant investigation to include not only backdating but also “spring-loading,” according to the Los Angeles Times.Spring-loading, the Times elaborated, is the practice of issuing stock-option grants shortly before a company announces...

    By Stephen Taub • June 20, 2006
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    Directors Say Exec Pay Hurts Image

    Board members agree with institutional investors that the current pay model for executives has hurt Corporate America’s image. The two groups differ widely, however, on how the current system contributes to corporate performance and on whether it contributes to excessive executive pay.According t...

    By Stephen Taub • June 20, 2006
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    SteelCloud Exec Felled by Options Probe

    Another top executive has become a casualty of the options-pricing scandal.SteelCloud, a supplier of server appliances, network security, and infrastructure services, announced that founder and chairman Thomas P. Dunne resigned last Friday in response to the results of an investigation by the aud...

    By Stephen Taub • June 20, 2006
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    Home Depot: Options Clean under Nardelli

    The Home Depot announced Friday that it had found $10 million in unrecorded expense related to its stock-option grant practices and procedures since 1996, but took care to note that those grants predate the tenure of current CEO Robert Nardelli.Nardelli has been under fire from shareholders in re...

    By Stephen Taub • June 16, 2006
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    CFOs on the Move

    • Interactive Data Corp. has appointed Andrew Hajducky executive vice president, chief financial officer, and treasurer. He succeeds Steven Crane, who will serve as president of FT Interactive Data, the largest business unit at the provider of financial-market data. Hajducky has held the CFO titl...

    By Marie Leone • June 15, 2006
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    Smoothing Operators

    Never has the practice of smoothing pension results suffered the deft skewering it did on Wednesday, when the world’s two most powerful accounting standards-setters testified before the Senate Banking Committee.Tweedie SpeaksThe IASB chairman on pension smoothing.listen (mp3 55k)Responding to the...

    By David Katz • June 15, 2006
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    Job Picture Bright for Finance, Accounting

    Chief financial officers are apparently in a hiring mood. According to the latest quarterly survey from Robert Half International, 7 percent of CFOs expect to bring on full-time accounting or finance employees in the third quarter, while 3 percent anticipate reductions in personnel.The staffing f...

    By Stephen Taub • June 15, 2006
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    Options Troubles Blossom for Some Companies

    In an ever-widening scandal, a number of companies that have announced internal investigations or regulatory reviews of their options-grant practices now face additional burdens.• Semtech, which previously reported an internal review of its stock-option practices in light of an informal inquiry b...

    By Stephen Taub • June 15, 2006
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    In California Bill, Pensions Trump Dividends

    A bill currently making its way through the California Assembly would bar a corporation from paying out dividends or buying back shares if the company failed to make a required payment to its defined-benefit pension plan.AB 2122, sponsored by Johan Klehs, a Democrat, would also make a board membe...

    By David Katz • June 14, 2006
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    Monday-morning Options Morass

    One of the more persistent items on Corporate America’s agenda resurfaced on Monday with a host of announcements regarding stock-option awards. In addition, the nation’s largest pension fund is calling on more than two dozen companies to address the matter publicly, and the Senate Finance Committ...

    By Stephen Taub • June 12, 2006
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    Sarbox Burdens Prompt CFO Job Churn

    Here’s one more thing to blame on the Sarbanes-Oxley Act: an increase in job churn for CFOs of Fortune 500 companies. A study released this month by Russell Reynolds Associates found that 19 percent of large-company finance chiefs left their posts in 2005, up from 16 percent the previous year and...

    By Marie Leone • June 9, 2006
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    Job Satisfaction Higher in Finance

    Finance executives seem more satisfied with their jobs than most other workers, according to a new survey by human-capital consultancy Hudson.Some 34 percent of accounting and finance workers reported being very satisfied with their compensation, compared with just 28 percent of all survey respon...

    By Stephen Taub • June 8, 2006
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    Upbeat Views from the People Who Count

    Accounting and finance workers are more optimistic about their job situation than they were only a few months ago, according to a new survey by Harris Interactive conducted for staffing and recruiting company Spherion.For the first quarter, 36 percent of survey respondents said they believed that...

    By Stephen Taub • June 8, 2006