Human Capital: Page

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    Is Your Pension Plan Flush Enough?

    Here’s more proof that the bull market is officially over.For years, corporations have sat on overfunded pension funds thanks to stock prices that rose much more than actuaries had predicted. In fact, corporate raiders even tried to get their shark fins on this stash.Alas, now after more than two...

    By Stephen Taub • July 26, 2002
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    Steel Company CFO: Iron Will Required

    Managing a company in a crisis is tough enough. Managing a company in a crisis-ridden industry is harder yet.And make no mistake, the U.S. steel industry is in a serious crisis. Deep pocketed — and well-backed — rivals from Asia and South America have made life miserable for managers at American ...

    By Jennifer Caplan • July 26, 2002
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    St. Paul Cos. Insures Future

    >> St Paul Cos. sees no risk in naming William Robbie CFO of its St. Paul Re reinsurance division … Robbie joins company from XL Capital Ltd., where he was EVP of financial services at its Stamford, Conn., office … In addition, Michael Lombardozzi was named general counsel … Robbie and Lomb...

    By Lisa Yoon • July 25, 2002
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    At Merrill, the Running of the Bull

    >> If it’s July, it must be bull-running season… This week, that’s as true on Wall Street as it is in Pamplona, Spain, as Merrill Lynch & Co. answers questions about firm’s future leader… On Monday, the financial-services firm announced chairman and chief executive David H. Komansky pas...

    By Lisa Yoon • July 24, 2002
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    Kozlowski Gone, Will Swartz Follow?

    >> Here’s a familiar-sounding tale: medium-size company grows into global giant through buying binge in 1990s… In 2002, chief executive who led charge resigns under pressure and scandal as company finances falter… Shortly after, once-joined-at-the-hip CFO follows CEO out…Sound like WorldCom...

    By Lisa Yoon • July 23, 2002
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    From Pineapples to Penthouses

    >> Former Dole Food Co. finance chief Kenneth J. Kay moving into new digs as CFO of CB Richard Ellis Inc….Kay replacesJim Leonetti, who is leaving world’s largest commercial real-estate services company to pursue other interests…On June 27, Dole named Richard Dahl CFO, replacing Kay… Before...

    By Lisa Yoon • July 22, 2002
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    CFOs Demonized — But Still in Demand

    Andrew Fastow. Scott Sullivan. David Myers.It hasn’t exactly been a banner year for finance executives.Yet, as more companies restate their financials, and as the Securities and Exchange Commission, the Justice Department and Congress launch more probes of corporate accounting, guess whose expert...

    By Stephen Taub • July 18, 2002
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    Rerouting at Nortel

    >> Nortel Networks Corp. CEO and acting CFO Frank A. Dunn no longer holding down two jobs… Yesterday giant telco promoted controller Douglas Beatty to finance chief post… Beatty will also serve as CFO of Nortel Networks Ltd., Nortel’s principal operating subsidiary…Like his last two predece...

    By Lisa Yoon • July 18, 2002
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    Another Reality Show: Court Says CFO Can Sue BET

    >> Former Black Entertainment Television CFO Dwight Crawford got approval from Washington, D.C., judge to move ahead with lawsuit against TV network, according to the New York Times. Crawford brought $21 million suit against BET Holdings II Inc. in 2000, shortly before it was acquired by Vi...

    By Lisa Yoon • July 17, 2002
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    Riding the Round-Trip Spin-off

    >>Reliant Energy management relying on Mark M. Jacobs to help it through changes sure to come via spin-off… Houston-based energy company named former Goldman Sachs managing director to CFO, EVP posts of both Reliant Energy and Reliant Resources Inc., which is preparing for spin-off from maj...

    By Lisa Yoon • July 16, 2002
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    Ugly Ending at Vivendi

    >> Vivendi Universal finance chief Guillaume Hannezo going the way of former boss Jean-Marie Messier, who resigned under pressure earlier this month… According to a report in the New York Times, Hannezo, who was a close ally of Messier, denies a report in French magazine Le Monde that he re...

    By Lisa Yoon • July 15, 2002
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    Smoke Defection: New CFO at R.J. Reynolds Tobacco

    >>Things are smokin’ at R.J. Reynolds Tobacco Holdings Inc. … Former Philip Morris Companies. executive Richard Bogan steps in as EVP and CFO … Bogan replaces retiring CFO Kenneth Lapiejko, who spent 25 years with R.J. Reynolds …Bogan packing up and leaving position as president of NorthAme...

    By Kelly Morgan • July 11, 2002
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    Hear Ye: Knowles Gets New CFO

    >>Buzz at Knowles Electronics Holdings Inc. is: James H. Moyle to replace CFO Jim Brace in August… Knowles produces components used in hearing aids, as well as acoustic components used in voice recognition, telephony, Internet applications, and automotive sensors…>>Power Efficiency Co...

    By Kelly Morgan • July 10, 2002
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    Hospital CFO: Angels With Clipped Wings

    When the price of steel goes up, a company that makes steel widgets can hike its price to cover the increase soon after it happens. But when health-care costs rise, a hospital’s CFO must deal with a shortfall until the masters of Medicare choose to pay at the higher rate.And that can be years.Why...

    By David Katz • July 10, 2002
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    Airline CFO: Plenty of Chop

    If you want to see what’s happening to the airline industry, look at the phone business. Following deregulation, the telecommunications sector was flooded with new players — players who were quite willing to lose money to gain market share. That undivided focus on market share, plus concerns abou...

    By Craig Schneider • July 9, 2002
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    The Right Therapy for Anika

    >>Anika Therapeutics, Inc. remedies loss of CFO Douglas R. Potter with appointment of William J. Knight , 53 … Former CFO of Zycos, Inc., NMT Medical, Inc. and Zoll Medical Corp., Knight’s industry experience expected to be healthy addition to Anika … Company develops and manufactures produ...

    By Kelly Morgan • July 9, 2002
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    Biotech CFO: Trial and Error

    If the biotechnology sector come with a warning label, it would read something like this:“Biotech senior executives may experience some side effects, including sweating, dry mouth, insomnia, and increased anxiety — particularly if federal regulators reject your patent application. Some finance ch...

    By Craig Schneider • July 8, 2002
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    Qwest’s One-Two Punch

    >>Qwest Communications CEO Richard Notebaert connects with Oren G. Shaffer, 59, to be new vice chairman and CFO of beleaguered telecommunications company… Before hooking up with Qwest, Shaffer was president and COO of Sorrento Networks and CFO of Ameritech and Goodyear… Replaces Robin R. Sz...

    By Marie Leone • July 8, 2002
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    Who’s News

    >> Dow Jones & Co. chairman and CEO Peter Kann celebrating Independence Day by freeing himself from two of his five jobs: COO and publisher of flagship paper the Wall Street Journal… Kann, who also serves as board chairman and editorial director of all Dow Jones publications, including ...

    By Lisa Yoon • July 3, 2002
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    Telecom CFO: Telephony and Cacophony

    How tough is it right now in the telecommunications sector?Consider this: Eager to site a cell tower in an area with restricted construction, one wireless telecommunications company designed a tower in the shape of a cross and — in exchange for payment to the congregation — placed it on top of a ...

    By Marie Leone • July 3, 2002
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    P/C Insurance CFO: Hard Sell

    Before the advent of Regulation Fair Disclosure, the CFO of a property/casualty (PC)insurance company could quell a rumor about business losses with a simple answer to an analyst on the telephone.Without Reg FD, for instance, Chubb Group’s finance chief, Weston Hicks, would have easily been able ...

    By David Katz • July 3, 2002
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    Energy CFO: Mob Rule

    Mary Shelley could have written the plot line. An astonishing, bold experiment suddenly goes terribly wrong, ending with an angry mob of citizens chasing a bloodied and confused monster with big clubs and torches.The scenario is all too familiar for CFOs at energy companies. Afterall, in the wake...

    By Marie Leone • July 3, 2002
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    Software CFO: Intangible Assets, Real Pains

    Finance chiefs and other senior executives at software companies are victims of their own success. Between 1993 and 2001, spending on computer applications in the U.S. grew at a compounded annual growth rate of 14 percent, according to the Information Technology Association of America. In 2001 al...

    By Jennifer Caplan • July 3, 2002
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    Hardest Sectors for CFOs?

    You think your job is difficult?In this, the first-ever toughest jobs survey by CFO.com, our editorial staff picks the sectors that present the stiffest challenges for finance chiefs in 2002. While the job descriptions may vary, the seven industries have one thing in common: they stretch a financ...

    By CFO Editorial Staff • July 2, 2002
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    Hi-Test? World Fuel Services Names New CFO

    >> Francis X. Shea moving up in the World…World Fuel Services Corp. promoted him to CFO post…Shea will keep title of EVP of finance, which he’s held for past year …Apparently, company chose Shea for top finance post for his overseas experience as fueling services provider works to live up t...

    By Lisa Yoon • July 2, 2002