Human Capital: Page

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    CFOs on the Move

    • JPMorgan Chase & Co.’s Dina Dublon is stepping down as CFO of the financial-services giant. Michael Cavanagh, currently head of middle-market banking, will succeed Dublon as finance chief. Cavanagh’s experience in financial services spans 16 years, including seven years at Citigroup. His as...

    By Lisa Yoon • Sept. 24, 2004
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    The Bigger Picture at Smaller Companies

    At many larger companies, senior finance executives aspire to “get a seat at the strategy table” and help plan the future direction of the business. Many smaller companies face quite a different problem — when they map out business strategy, they must do so without a fully developed finance organ...

    By Lisa Yoon • Sept. 24, 2004
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    Lucent Deepens Retiree-Benefit Cuts

    Lucent Technologies Inc. has cut the benefits of its retirees for the second time in a year, according to published reports. The embattled telecom company informed employees by letter that it would no longer provide free health insurance for dependents of management workers earning salaries of $...

    By Stephen Taub • Sept. 23, 2004
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    Does Scandal Pay?

    Former Freddie Mac chief executive Leland Brendsel is getting his money, after all.The mortgage giant said last Friday that, as a result of a recently issued order from the federal District Court of the District of Columbia, Freddie Mac has begun the process of unfreezing compensation and paying ...

    By Stephen Taub • Sept. 22, 2004
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    Getting Wireless Costs under Control

    After several years of extensive investment in enterprise applications and fiber networks, many companies say they just don’t have the budget for widescale wireless network implementations. That may be true, analysts say, but with so many wireless devices, cell phones, Wi-Fi routers and gateways,...

    By John McPartlin • Sept. 22, 2004
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    Is Your Finance Staff Inadequate?

    It’s getting much harder for public companies to keep skeletons in their closets. As they ready internal controls for the harsh light of Section 404-compliance testing, the pressure to disclose problems uncovered in the process has become palpable.“Problems” can mean poor procedures or IT weaknes...

    By Alix Stuart • Sept. 20, 2004
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    CFOs on the Move

    • Kenneth A. Vecchione has been named chief financial officer of Wilmington, Delaware-based MBNA Corp., the world’s largest independent credit-card lender. Vecchione will continue in his current role as finance chief of MBNA America Bank, the corporation’s principal operating subsidiary. He succe...

    By Lisa Yoon • Sept. 17, 2004
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    Fertile Ground in Executive Education

    At the University of Virginia, the Darden Graduate School of Business Administration has developed a rare hybrid: an executive-education program on sustainability, combining corporate concerns with environmental interests. But at first, this program seemed much like a delicate flower that might d...

    By Lisa Yoon • Sept. 17, 2004
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    FASB Hears New Options Approach

    Senior finance executives at three technology companies on Wednesday presented the Financial Accounting Standards Board (FASB) with a proposal for a new employee stock-option-valuation model.The model, to be sure, uses the familiar Black-Scholes method. But the finance executives’ plan proposes, ...

    By Craig Schneider • Sept. 16, 2004
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    PBGC Could Go Broke by 2020: Report

    The agency that insures 43 million pensions could run out of money by 2020 if there is no taxpayer-funded government bailout, according to an independent study. The 29-page report by the Center on Federal Financial Institutions said the Pension Benefit Guaranty Corp. (PBGC) “is insolvent on the b...

    By Stephen Taub • Sept. 16, 2004
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    Health-Benefit Premiums Rise 11 Percent

    Employer-sponsored health insurance premiums have increased an average of 11.2 percent this year, according to the 2004 Annual Employer Health Benefits Survey released by the Kaiser Family Foundation and Health Research and Educational Trust (HRET).To be sure, that’s less than last year’s 13.9 p...

    By Stephen Taub • Sept. 10, 2004
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    CFOs on the Move

    • Birmingham, Alabama-based HealthSouth Corp. appointed John Workman to the position of executive vice president and chief financial officer effective September 20. Most recently, Workman served as CEO and CFO of U.S. Can Co., an $837 million (in revenues) manufacturer of aerosol and general-line...

    By Lisa Yoon • Sept. 10, 2004
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    Going with the (Free-cash) Flow

    More companies are tying incentive pay to performance in an up-and-coming metric: free-cash flow (FCF). Bausch & Lomb, Motorola, Kraft Foods, and American Standard are among those that are linking pay to cash available after operating activities.Proponents say it is a better indicator of over...

    By Joseph McCafferty • Sept. 10, 2004
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    New CFOs: the First 100 Days

    A new survey by executive search firm Korn/Ferry International carries a message for CFOs new on the job: Put away the spreadsheet and get out of the office. The survey, which collected responses from 183 recruiters worldwide about a new executive’s first 100 days at a company, found that a strat...

    By Lisa Yoon • Sept. 8, 2004
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    A Baseball Odyssey

    The end of the Athens Games also marked the end of a peculiar six-year-long Olympic dream for former CFO and now restaurateur Bill Galatis: to play for the Greek baseball team. But another dream lives on. “I want to make sure the game stays alive in Greece after the Games,” says the 51-year-old o...

    By Roy Harris • Sept. 3, 2004
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    Judge Unfreezes Ex-CEO’s $50 Million

    A federal court ruling in Washington may prove to be a windfall for former Freddie Mac chief executive officer Leland Brendsel, who led the federal mortgage packager for 18 years before leaving the company in June 2003.U.S. District Court Judge Richard Leon ruled that Freddie Mac’s regulator, the...

    By Ed Zwirn • Sept. 2, 2004
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    School Days

    It’s been years since most senior executives earned their last diploma, but for many finance professionals, education is an ongoing commitment. Whether they are required to log hours of continuing education every year to maintain a public accounting certification or simply feel the need to keep u...

    By Kate O'Sullivan • Sept. 1, 2004
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    Raising Red Flags

    It’s getting much harder for public companies to keep skeletons in their closets. As they ready internal controls for the harsh light of Section 404-compliance testing, the pressure to disclose problems uncovered in the process has become palpable.In the first six months of the year, more than 10...

    By Alix Stuart • Sept. 1, 2004
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    A Baseball Odyssey

    The end of the Athens Games also marked the end of a peculiar six-year-long Olympic dream for former CFO and now restaurateur Bill Galatis: to play for the Greek baseball team. But another dream lives on. “I want to make sure the game stays alive in Greece after the Games,” says the 51-year-old o...

    By CFO Editorial Staff • Sept. 1, 2004
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    CFOs on the Move

    • Viacom chief financial officer Bruce Taub has been named executive vice president of operations, a newly created position at the company. Taub will be involved in setting development and financial objectives and helping to identify key operational and strategic issues for the Viacom divisions, ...

    By Lisa Yoon • Aug. 27, 2004
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    DPL Sues Former CFO, Other Execs

    Ohio-based utility DPL Inc. sued three ex-executives, including a former interim chief financial officer, in an effort to recover more than $33 million in deferred compensation payouts, according to court documents. DPL, the parent of Dayton Power & Light Co., accused the trio of amending the...

    By Marie Leone • Aug. 27, 2004
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    How 51 Gorillas Can Make You Seriously Rich

    If you want to profit from your pen, first write a bestselling business book. In few other literary genres are the spin-offs so lucrative. If you speak well enough to make a conference of dozing middle managers sit up, your fortune is made. You can, says Mark French of Leading Authorities, a top ...

    By Economist Staff • Aug. 27, 2004
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    Blue-Light Special on 18 Kmart Stores

    Discount retailer Kmart Holding Corp. announced that it finalized a transaction to sell 18 stores to The Home Depot for $271 million in cash, the Associated Press reported.Earlier this month the two companies reported signing an agreement that provided for the sale of at least 13 stores for $173 ...

    By Ed Zwirn • Aug. 26, 2004
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    UAL Gets Bankruptcy Plan Extension

    UAL Corp.’s United Airlines has more time to prepare for bankruptcy.The company on Friday said it has agreed with its creditors committee to a 30-day extension on the period in which it can file its own bankruptcy reorganization plan, shorter than UAL’s recent request for a four-month extension, ...

    By Ed Zwirn • Aug. 23, 2004
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    CFOs on the Move

    •GlaxoSmithKline CFO John Coombe will retire next March when he turns 60. The company has “a succession plan in place,” a representative of the pharmaceutical giant told Reuters. The spokesman would not confirm a press report that the company has already hired headhunters to find a new CFO, acc...

    By Ed Zwirn • Aug. 20, 2004