Human Capital: Page

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    Board Pay Surges by Double Digits

    Average total compensation for directors at the 200 largest U.S. companies has climbed above $195,000 per year, according to a new study by Pearl Meyer & Partners, a practice of Clark Consulting.Total compensation rose 11 percent, for a second straight year of double-digit growth. In addition...

    By Stephen Taub • Oct. 3, 2005
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    Off the Books

    Donald Nicolaisen, chief accountant for the Securities and Exchange Commission, is stepping down this month to return to the private sector.He has served during one of the most active periods in the history of the SEC. During his tenure, Nicolaisen played a prominent role in the implementation of...

    By Craig Schneider • Oct. 1, 2005
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    CFOs on the Move

    • Dutch grocer Ahold appointed John Rishton chief financial officer, effective January 1. He takes over for chief accounting officer Joost Sliepenbeek, who has been serving as interim CFO since September 1, when Hannu Ryopponen left the company.Rishton joins Ahold from British Airways; he joined ...

    By Lisa Yoon • Sept. 30, 2005
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    Higher Power

    Brandishing MBA degrees from universities in the United States, Europe, and Australia, Chinese nationals return in droves to make their mark on their nation’s booming economy. But only a relative few can match management education with experience in the real world. Many multinationals, keen to hi...

    By Sylvia Yu and Yang Jian • Sept. 30, 2005
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    Battle for Starr’s Stake in AIG

    American International Group Inc. is taking former chairman and chief executive officer Maurice R. “Hank” Greenberg to court, seeking control of about $20 billion of AIG shares, according to The Wall Street Journal.The shares, which represent nearly 12 percent of the total outstanding, are held b...

    By Stephen Taub • Sept. 29, 2005
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    WellPoint Merger: Healthy for Companies?

    WellPoint Inc. has agreed to acquire and WellChoice Inc. in a deal valued at $6.5 billion in cash and stock, as the health-insurance business continues to consolidate.WellPoint, the nation’s largest health insurance provider, was created last year when Anthem Inc. bought WellPoint Health Networks...

    By Stephen Taub • Sept. 27, 2005
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    The Human-Capital Factor

    Virtually all forms of IT have been designed to boost employee or corporate performance in some way, but the category called workforce productivity (also known as workforce optimization or human-capital management) is especially fertile. Vendors abound in all its subcategories, and while there ha...

    By Megan Santosus • Sept. 27, 2005
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    European Giants Name New CFOs

    Two of the largest European companies named new chief financial officers on Monday.Paul Polman was tapped as the new finance chief of Switzerland-based Nestlé, the world’s largest food and beverage company. He spent 26 years with Procter & Gamble, most recently as group president of P&G E...

    By Stephen Taub • Sept. 26, 2005
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    Sears Cuts Legacy Costs

    Sears Holdings Corp., the product of the merger between Sears and Kmart, is the latest old-line company making tough decisions regarding its legacy costs so it can better compete with relatively nimbler, younger peers.The retail giant announced that it will no longer pay for health care coverage ...

    By Stephen Taub • Sept. 26, 2005
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    CFOs on the Move

    • William W. Veazey was named senior vice president, chief financial officer, and treasurer of Cargill Inc., a provider of food, agricultural, and risk management products and services that is the largest privately held company in the United States, according to Forbes. Veazey most recently serve...

    By Lisa Yoon • Sept. 23, 2005
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    Andrx CFO Abruptly Resigns

    Andrx Corp., a manufacturer of generic drugs, announced that chief financial officer John Hanson has resigned. Andrx gave no reason for his departure.The Fort Lauderdale-based company added that president Angelo C. Malahias will assume the additional role of chief financial officer on an interim ...

    By Stephen Taub • Sept. 22, 2005
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    Building a Better Workforce

    Fifty years ago, a man wrote to Look magazine columnist Norman Vincent Peale, asking, “What should a person do who is unhappy and bored in his job after twenty years, but who earns a nice salary and hasn’t the nerve to leave? He’ll never go any higher in salary and position, but will always have ...

    By Scott Leibs • Sept. 21, 2005
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    Cargill Names Veazey CFO

    William W. Veazey was named senior vice president, chief financial officer and treasurer of Cargill Inc., succeeding Robert L. Lumpkins, who served as CFO since 1989. Lumpkins continues as Cargill vice chairman and a member of the company’s board of directors.Veazey most recently served as corpor...

    By Stephen Taub • Sept. 16, 2005
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    How to Hunt for a Headhunter

    The tasks of putting together and restocking top-drawer finance teams can present busy CFOs with a daunting question: How much time and effort can I put into picking talent?The answer most often must be an unhappily expressed version of “not much.” While hiring excellent subordinates is obviously...

    By Lisa Yoon • Sept. 16, 2005
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    CFOs on the Move

    • Northwest Airlines named David M. Davis senior vice president of finance and controller, reporting to executive vice president and chief financial officer Neal Cohen. Davis returns to the Eagan, Minnesota-based airline after CFO stints at US Airways and Kraton Polymers LLC. He replaces Jeff Put...

    By Lisa Yoon • Sept. 16, 2005
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    IBM Nudges Employees to Teach

    A growing number of companies are acknowledging that they must take an active role in improving the quality of education in the United States. Their concern: In the future, they may be unable to find enough qualified people for technical positions that require strong backgrounds in subjects such ...

    By Stephen Taub • Sept. 16, 2005
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    PBGC to Airlines: Pay Up

    The head of the Pension Benefit Guarantee Corp. has sternly warned two major airlines that despite filing for bankruptcy protection, they’re still on the hook for pension payments.“Northwest Airlines and Delta Airlines are required to make minimum pension contributions under ERISA and the Interna...

    By Stephen Taub • Sept. 15, 2005
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    Who’s Minding the Shop?

    During a normal workday, public-relations manager Lindsay Peroff generally visits the Website of a Vancouver-based radio station and listens to music online. Christopher Bennett, a PR colleague at junk-removal company 1-800-GOT-JUNK?, follows soccer on the Web, often listening to digital broadcas...

    By Esther Shein • Sept. 14, 2005
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    More Health-Care Costs: Pass It Down

    Companies are bracing for another double-digit increase in health care costs in 2006. And in keeping with a recent trend, they’re planning to pass along part of the costs to the rank and file.In fact, a survey of more than 1,800 companies by Mercer Human Resource Consulting found that the compani...

    By Stephen Taub • Sept. 13, 2005
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    Freddie Mac to Help Recover Compensation

    Freddie Mac has agreed to help federal regulators investigate the mortgage company’s two former top executives as part of a settlement stemming from the company’s accounting scandal.Under a consent agreement, Freddie Mac agreed to provide documents to the Office of Federal Housing Enterprise Over...

    By Stephen Taub • Sept. 13, 2005
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    CFOs on the Move

    • Bank of America Corp. announced that Alvaro G. de Molina, chief executive officer for Banc of America Securities,has been named chief financial officer of the corporation, effective immediately. De Molina, who began his finance career with Price Waterhouse in 1979 and has worked for J.P. Morgan...

    By Lisa Yoon • Sept. 9, 2005
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    Uptick for Finance Hiring

    The job market for accounting and finance positions should improve a bit in the fourth quarter, according to a new report by Robert Half International.The staffing-services firm, which surveyed 1,400 chief financial officers at companies with more than 20 employees, found that 7 percent of CFOs p...

    By Stephen Taub • Sept. 8, 2005
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    Pension Upheaval

    It is 2005 and the pension system is in crisis — again. Just as in the mid-1990s, Congress and columnists are warning of the imminent demise of the defined-benefit retirement plan. And again, thanks are due to the failure of a few companies — mostly in the airline industry — to meet their obligat...

    By Russ Banham • Sept. 8, 2005
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    Chief Accountant to Leave SEC

    Donald Nicolaisen, the chief accountant of the Securities and Exchange Commission, has announced that he will leave the SEC next month to return to the private sector.Nicolaisen was appointed to the post in September 2003 by former chairman William Donaldson; his departure creates another importa...

    By Stephen Taub • Sept. 7, 2005
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    Ex-CFO of Ben & Jerry’s to Plead Guilty

    Stuart “Mickey” Wiles, a former chief financial officer of Ben & Jerry’s Homemade Inc., has pleaded guilty to a federal charge of wire fraud for embezzling more than $300,000 from the company, according to press reports. The U.S. Attorney’s Office for Vermont stated that Wiles “used his autho...

    By Stephen Taub • Sept. 6, 2005