Human Capital: Page

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    Relocation, Relocation, Relocation

    When Robert Brace stepped down as finance chief of BT, the $44 billion (E46.5 billion) U.K. telecommunications giant, last October, he wasn’t out of work for long. Within weeks, the 51-year-old was named CFO at Duke Energy, a $49.3 billion U.S. power utility based in Charlotte, North Carolina.Not...

    By Ian Rowley • Nov. 2, 2001
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    What Tech Downturn? Veritas CFO Wins Over New Investors

    “Hello, this is Ken.”Ken Lonchar, that is, CFO of Mountain View, California-based Veritas Software Corp. Unlike many senior executives at much smaller companies, Lonchar actually answers his direct line. “I prefer to pick up my own phone,” he says. “I don’t like to route people through voice-mail...

    By Stephen Barr • Nov. 2, 2001
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    Net Worked

    Frank Dunn knows bootstrapping. The 47-year-old CFO of Brampton, Ontario-based Nortel Networks came to the company straight out of business school in 1976. After serving in virtually every division of the telecommunications equipment manufacturer, he was scheduled to take over as CEO on November ...

    By CFO Editorial Staff • Nov. 1, 2001
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    Charles E. Brown, Office Depot

    Barely two weeks after Bruce Nelson took over as CEO of Office Depot Inc. in July 2000, the company’s longtime CFO Barry Goldstein retired. Nelson and several headhunters immediately commenced a search to fill the vacant position. From the very beginning of the recruitment process, however, Nelso...

    By Jennifer Caplan • Nov. 1, 2001
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    Insurers Rethinking Risk in Riskier World

    Risk managers pride themselves on their ability to model almost any potential loss to their companies. They can map out, for instance, the potential toll of an earthquake, a jury award, or a rash of carpal-tunnel injuries. They then figure out how to protect against the risk and mitigate the dama...

    By David Katz • Nov. 1, 2001
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    Coping with Workplace Grief

    Like most Americans, Plantronics Inc. CFO Barbara Scherer watched the events of September 11 on her television set, feeling helpless as the horrific scenes unfolded. And, like many finance executives, she was suddenly thrust into a new type of leadership role, one requiring emotional as well as s...

    By Alix Stuart • Nov. 1, 2001
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    Say Goodbye to the Expat Deal

    A major U.S. or European company decides to plunge into Asia. It rents offices, sends out its best people, hires a relocation company to settle them into new homes, starts marketing its services, and sends the whole board over to admire the results. Trouble is, within a few years the business mak...

    By Steven Crane • Nov. 1, 2001
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    Ooh, Spooky, Very Spooky: CFOs Take on New Jobs

    Will Franklin is moving up the ranks at Ptek Holdings, an Atlanta-based communications and data services provider. Franklin was promoted to the CFO post after serving as finance chief for the company’s conferencing unit. He replaces Pat Jones, who was not only Ptek’s CFO but also chief legal offi...

    By Jennifer Caplan • Oct. 31, 2001
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    Employers Face Rate Health-Plan Hikes of 13 Percent to 16 Percent: Consultants

    Depending on the type of plan they have, U.S. employers will face average increases of 13 to 16 percent in their health-plan costs for 2002, consultants at Hewitt Associates say.That will mark the fourth year in a row of major health care hikes and the highest boost since the early 1990s, accordi...

    By CFO Editorial Staff • Oct. 30, 2001
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    Hunter Thomson Bags CFO from Reuters

    David Turner is the new CFO at Thomson Corp’s financial division, a provider of financial information. Prior to joining Thomson Financial, Turner spent 10 years at Reuters. While at the newswire company, he held the CFO post in a number of business units, including Reuterspace. Prior to joining R...

    By CFO Editorial Staff • Oct. 30, 2001
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    Houston, We Have a Problem: More on the Enron Shakeup

    As CFO.com reported last week, Andrew Fastow, CFO of Enron Corp., has been replaced by Jeff McMahon, head of the energy producer’s industrial markets group and former corporate treasurer of its parent company. McMahon joined Enron in 1994 and spent three years in the London office as CFO of the c...

    By Jennifer Caplan • Oct. 29, 2001
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    How General Mills Built a Finance Team of Champions

    James Lawrence came to General Mills in 1998 with an impressive pedigree. Fresh from the CFO job at Northwest Airlines, he’d once been president of PepsiCola’s Asia, Middle East, and Africa operations, and he co-founded LEK, a corporate-strategy consultancy. For educational credentials, there wer...

    By Alix Stuart • Oct. 29, 2001
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    Richard Kurkowski, Spencer Stuart

    When Richard Kurkowski doles out career advice, CFOs listen. Kurkowski is not only a veteran finance executive, he’s currently CFO of Spencer Stuart Inc., one of the largest privately held executive search firms in the world. Kurkowski joined the recruitment specialist in 1981, and he’s seen the ...

    By Jennifer Caplan • Oct. 26, 2001
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    Back to Business School

    To take a master’s degree in business administration (MBA) at Harvard Business School, the first exclusively graduate business school and still, on most measures, the world leader, is not cheap. Tuition fees are $30,000 or so for each of the two years; other bills and living costs add another $25...

    By Economist Staff • Oct. 26, 2001
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    Parts is Parts? CFO at Lear Corp. Steps Down

    Donald Stebbins, CFO of Lear Corp., is leaving to become EVP of the company’s operations in North and South America. Lear’s vice chairman, James Vandenberghe, will take over Stebbins’s financial responsibilities.A management shuffle is not overly surprising, given the company’s recent performance...

    By Jennifer Caplan • Oct. 25, 2001
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    Lessons from the Top Cop of Risk

    When David Viniar saw the rain of paper outside his window, he recalls, his first thought was that it looked like a ticker tape parade. Then someone ran into his office to tell him the awful truth: A plane had just crashed into one of the World Trade Center towers. Minutes later, a second plane s...

    By Tim Reason • Oct. 25, 2001
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    Goodbye, Mr. Chips: AMD Finance Chief Jumps to BroadVision

    Fran Barton has been named CFO at business-software vendor BroadVision Inc. Barton replaces Randall Bolten, who resigned in July after the Redwood City, California-based company reported a larger-than-expected loss in the second quarter. Around the time of Bolten’s departure, management at BroadV...

    By Jennifer Caplan • Oct. 24, 2001
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    When Parachutes Billow

    Eye-popping severance packages, like those given to former Lucent executives Richard McGinn and Deborah Hopkins, Mattel CEO Jill Barad, and former Webvan CEO George T. Shaheen, can seem staggering in light of the companies’ troubles. But the terms should shock no one who was paying attention, say...

    By Kris Frieswick • Oct. 23, 2001
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    Sticky Wicket: Aurora Foods CFO Faces Prison Time

    M. Laurie Cummings, former CFO at Aurora Foods inc., and her boss, former CEO Ian R. Wilson, both pleaded guilty last month to securities fraud and other charges for manipulating Aurora’s financial statements.According to mary Jo White, U.S. Attorney for the Southern District of New York, Cumming...

    By CFO Editorial Staff • Oct. 22, 2001
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    Mint Condition? Veteran CFO Hired at Collectors Universe

    Managers at Collectors Universe Inc. named Michael Lewis CFO. Lewis had been serving as interim finance chief since Gary Patten resigned earlier this month.Before joining the Newport Beach, Calif.-based provider of services to the high-end collectibles market, Lewis was CFO of Young Presidents Or...

    By CFO Editorial Staff • Oct. 22, 2001
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    Less Business Wanted? It Worked for AmeriCredit

    The financial turmoil in the fall of 1998 alarmed more than a few corporate finance executives. But for Daniel Berce, CFO of subprime auto lender AmeriCredit, it was a full-blown, career-defining crisis.Like all specialty finance companies, AmeriCredit relies on the capital markets to fund its le...

    By Andrew Osterland • Oct. 22, 2001
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    David Warren, Nasdaq

    If there’s one thing that separates managers at technology companies from their counterparts at more-traditional businesses, it is this: They go their own way.Therefore, it comes as no great surprise that the chief financial officer at the Nasdaq Stock Market Inc. — which, after all, is home to s...

    By CFO Editorial Staff • Oct. 19, 2001
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    Office Depot Supplies Its Own CFO

    Management at office supplies retailer Office Depot Inc. has ended its long quest to locate a new chief financial officer. Ironically, after a 14-month, nationwide search, the Delray Beach, Florida-based company promoted its controller, Charles Brown, to the CFO post. (For a closer look at the se...

    By Jennifer Caplan • Oct. 18, 2001
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    No Bear Market for Plan Sponsors, Survey Reveals

    What bear market? A recent study by actuarial firm Milliman USA shows that the 20 largest companies’ defined-benefit pension plans added almost $7 billion in corporate profits to their companies’ bottom line during 2000. And they’re likely to top that number this year.Granted, these plans didn’t ...

    By Tim Reason • Oct. 17, 2001
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    Mash Unit? Plenty of Moves at Health-Care Companies

    Mary Chaput is the new CFO of American Healthways Inc., a provider of care services to health plans, physicians, and hospitals. She replaces Henry Herr, who has been chief financial officer at the Nashville-based company since its founding in 1981. Herr announced his intentions to retire at the e...

    By Jennifer Caplan • Oct. 17, 2001