Human Capital: Page

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    HP’s Wayman to Retire Soon

    Robert Wayman, vice president and chief financial officer of Hewlett-Packard Co., is planning to retire after 21 years on the job, according to the Wall Street Journal, which cites people familiar with the matter.Reportedly, the company has launched a search for his replacement but has not specif...

    By Stephen Taub • Jan. 31, 2006
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    CFOs on the Move

    • Broadband communications company Charter Communications Inc. tapped a former Delta Airlines executive as its chief financial officer. Jeffrey T. Fisher was named executive vice president and CFO of the St. Louis-based company, effective February 6. Fisher has held a number of executive position...

    By Lisa Yoon • Jan. 27, 2006
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    Executive Pensions: Special No Longer?

    A provision in the pension reform bill reportedly may bar some companies with underfunded plans from offering other special benefits solely to their top executives.“We’ve heard too many stories of top executives of bankrupt companies sticking workers with unfunded pensions while running off with ...

    By Stephen Taub • Jan. 25, 2006
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    IBM Workers Sue for OT

    A class-action lawsuit has been filed against IBM, alleging that the company has denied overtime pay to tens of thousands of workers who install and maintain computers, according to published reports.The complaint, filed in federal court in San Francisco, asserts that the company falsely classifi...

    By Stephen Taub • Jan. 25, 2006
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    Nearly $8 Million for HP’s Wayman in 2005

    Hewlett-Packard Co. chief financial officer Robert P. Wayman took home more than $7.7 million in 2005, according to the company’s latest proxy filing.Wayman, who has served as CFO since 1984 and executive vice president since 1992, received $3 million for two months as interim CEO following last ...

    By Stephen Taub • Jan. 24, 2006
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    How to Clean Up Your Digital Dirt

    Unflattering personal information drifting around the Internet, known by some as “digital dirt,” can doom a job search before it even gets started. Job hunters should know that recruiters can, and often do, read much of what’s posted about them on the Web.Christine Hirsch, president of Chicago Re...

    By Jared Flesher • Jan. 20, 2006
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    CFOs on the Move

    • Gemstar-TV Guide International Inc. announced that it has terminated the employment of chief financial officer Brian D. Urban, effective January 18. Urban’s employment agreement with Gemstar was scheduled to expire on June 30, and the company has been searching for a new CFO; in the meantime, c...

    By Lisa Yoon • Jan. 20, 2006
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    Incentive Pay Spreads Beyond U.S., E.U.

    Pay for performance is spreading globally. Like the more-developed economies of North America and Europe, Asian and Latin American companies are beginning to tie employee compensation to business results, according to a new study from Towers Perrin.Worldwide, performance-based pay as a share of t...

    By Stephen Taub • Jan. 18, 2006
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    Alcoa Halts Pensions for New Hires

    Yet another major company is phasing out its traditional pension plan.Aluminum giant Alcoa announced that it will eliminate its defined benefit pension plan for most new U.S. salaried employees effective March 1. In its place, the company will offer a more generous 401(k) defined contribution pla...

    By Stephen Taub • Jan. 17, 2006
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    SEC Proposing Revamped Pay Disclosure

    At an open meeting of the Securities and Exchange Commission today, the SEC will reportedly propose the first major changes since 1992 in how corporations disclose executive compensation in their proxies. Looming large among the proposed revisions is a requirement to reveal the total annual comp...

    By Helen Shaw • Jan. 17, 2006
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    Silicon Valley Sees Uptick in Jobs

    For the first year since 2001, Silicon Valley has added more jobs than it lost, according to a new report.The annual survey, published by the nonprofit organization Joint Venture Silicon Valley, concluded after the second quarter of 2005. Joint Venture found that the region added 2,000 jobs over ...

    By Stephen Taub • Jan. 16, 2006
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    Distortions and Deceptions in Strategic Decisions

    The chief executive of a large multinational was trying to decide whether to undertake an enormous merger — one that would not only change the direction of his company but also transform its whole industry. He had gathered his top team for a final discussion. The most vocal proponent of the deal ...

    By The McKinsey Quarterly • Jan. 16, 2006
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    Maryland Passes “Wal-Mart Health Bill”

    Maryland law now requires Wal-Mart Stores to provide health-insurance benefits to all of its employees.The law — which was approved after the governor’s veto was overridden — could have wide ramifications, as 30 states are mulling similar legislation, according to The Washington Post.Legislators ...

    By Stephen Taub • Jan. 13, 2006
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    CFOs on the Move

    • Interpublic Media, the media operation of advertising giant The Interpublic Group, appointed Terri M. Santisi chief financial officer. Santisi has served as executive vice president and general manager of EMI Music North America and CFO of EMI Music Publishing Worldwide. Most recently, she led ...

    By Lisa Yoon • Jan. 13, 2006
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    CFO Confidential

    At many companies the CFO is a trusted confidant of the CEO, a valuable sounding board for all kinds of issues. But when CFOs themselves need advice, whom do they call?Sometimes the CEO, to be sure. Or perhaps the finance second-in-command. And for certain technical problems, such as accounting o...

    By Kate O'Sullivan • Jan. 13, 2006
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    Timothy McLaughlin, Eddie Bauer

    On Thursday, Eddie Bauer Holdings Inc. announced the departure of chief financial officer Timothy McLaughlin. The Redmond, Washington-based ”outdoor lifestyle” retailer gave no reason for the exit; nor did it specify whether McLaughlin resigned or was terminated. Calls to the company requesting m...

    By Lisa Yoon • Jan. 13, 2006
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    This Is Not a Game

    From the sidelines, professional athletes have leverage that corporate negotiators can only dream of. Endowed with unmatchable skills and advised by top agents, stars like Alex Rodriguez, LeBron James, and Maria Sharapova can just name their price, threaten to walk, and receive untold riches, rig...

    By Alix Stuart • Jan. 13, 2006
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    Matchmaker, Matchmaker, Build Me a Plan

    “The existence of a match is the number one driver for participation” by employees in their company’s 401(k) plan, says Susan Alford, a senior vice president in Aon Consulting’s benefits group.While there are many variations in matching formulas, an employer pay-in of 50 percent up to the first 6...

    By David Katz • Jan. 12, 2006
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    Are You a Strategic CFO?

    Bean counter. Numbers cop. Chief financial officers have long outgrown those stereotypes; today a more appropriate description might be business partner, strategist, first deputy to the CEO. Yet as far as they’ve come, many senior finance executives still have the nagging feeling that they could...

    By Lisa Yoon • Jan. 11, 2006
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    IBM Freezes Its Defined-Benefit Plan

    IBM officials announced sweeping changes to the company’s pension plans that will save the corporation $2.5 billion to $3 billion by 2010.The changes are part of IBM’s global strategy of shifting the future focus of retirement benefits from traditional defined-benefit plans to 401(k) defined-cont...

    By Stephen Taub • Jan. 6, 2006
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    CFO Turnover Sped Up in December

    Although job changes among senior managers overall slowed in December, CFO turnover picked up briskly, according to a recent analysis by Liberum Research.Last month, a total of 2,127 C-level management positions changed hands. That was down 4 percent from November’s total of 2,209, a high for the...

    By Stephen Taub • Jan. 6, 2006
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    American Airlines: Bonuses amid Losses

    AMR Corp., the holding company for American Airlines, may have lost nearly $600 million or so in the past four quarters. But roughly 1,000 management employees are in line to get nearly the same amount of money in stock-based bonuses in April, according to the Associated Press.The potential large...

    By Stephen Taub • Jan. 6, 2006
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    Employment Figures Tell a Tale of Growth

    Although U.S. employment grew more slowly than expected in December, jobs-related data just issued by the U.S. Department of Labor reveal a solid growth story, according to some economists.December nonfarm payrolls rose by 108,000, with professional and business services, food services, health ca...

    By Helen Shaw • Jan. 6, 2006
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    CFOs on the Move

    • Dow Jones & Co. announced that vice president and chief operating officer Richard F. Zannino will become chief executive officer and a director, effective February 1. Zannino joined the publisher of The Wall Street Journal in 2001 as executive vice president and chief financial officer and ...

    By Lisa Yoon • Jan. 6, 2006
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    Chamber of Commerce Seeks Open Borders

    Here is yet another reminder that business creates strange bedfellows…and counterintuitive adversaries.You’d think that a pro-business group like the U.S. Chamber of Commerce would support Republican initiatives. Not always: The powerful trade group is fighting legislation aimed at restricted imm...

    By Stephen Taub • Jan. 5, 2006