Human Capital: Page 195

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    Mandl’s (No) Messiah

    MANDL’S (NO) MESSIAHAlex Mandl knows what it’s like to be a king and a commoner– unfortunately, in that order. On April 30, the onetime heir-apparent to Robert Allen’s corner office at AT&T Corp. resigned his position as CEO of financially troubled telecom-provider Teligent Inc. just as Newar...

    By CFO Editorial Staff • June 1, 2001
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    Building a Better Carrot

    Navigant Consulting Inc., a Chicago-based management consultancy, is the product of more than 25 acquisitions over six years. No wonder that, until recently, its short-term incentive-pay system was seriously flawed. There was no consistent method of rewarding performance.“It was difficult to mana...

    By Hilary Rosenberg • June 1, 2001
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    Everything Must Go

    Exit This Way: Close-out retailer Big Lots Inc. said CFO Mark Shapiro plans to leave the Columbus, Ohio-based company effective June 15. Shapiro has accepted a senior financial position at Lewisville, Tex.-based wholesale food supplier Fleming Cos. Inc.. Big Lots, formerly known as Consolidated S...

    By Michelle Gabrielle • May 31, 2001
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    2000 CFO Pay: Northwest’s Foret Hauled Home More Than $2 Million

    Mickey P. Foret, EVP and CFO of Northwest Airlines Corp., took home over $2 million in total compensation in 2000, according to the company’s recently released proxy.More than half of his package–$1,234,375— came from a restricted stock award. He also received $431,638 in salary, $479,250 in bonu...

    By Michelle Gabrielle • May 31, 2001
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    Office Hours

    Sworn In To Office: OfficeMax Inc. named Jeffrey Freimark CFO and senior EVP, replacing Jeff Rutherford, who resigned from the Shaker Heights, Ohio-based office products retailer to pursue other opportunities. Freimark, former president and CEO of the recently sold supermarket operator Grand Unio...

    By Michelle Gabrielle • May 30, 2001
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    Career Moves

    The chief reason for making a follow-up call is to get an interview, according to The Wall Street Journal. However, job seekers can use a follow-up call to learn more about the position they are applying for, as well as to develop a “positive rapport” with the person on the other end of the line....

    By CFO Editorial Staff • May 29, 2001
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    Rocky Road

    Not Set In Stone: U.S. Aggregates Inc., a producer of aggregates of stone, sand, and gravel, said Daniel Yih resigned as interim CFO, treasurer, and VP, in order to return to his primary job as principal and portfolio manager at GTCR Golder Rauner LLC, a private equity firm, which is U.S. Aggrega...

    By Michelle Gabrielle • May 29, 2001
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    Class Act

    Watsonville, Calif.-based propane retailer Cornerstone Propane Partners L.P. said CFO Ronald J. Goedde resigned effective June 30, 2001 to teach university. VP of finance and administration Richard D. Nye will step in as acting CFO. Meanwhile, Goedde will work with Cornerstone as an independent f...

    By CFO Editorial Staff • May 25, 2001
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    A New Lease on Leasing?

    Q: We’re thinking about entering into some lease transactions, but we’re worried that the accounting rules are going to change, and the assets will appear our balance sheet. Are there any upcoming changes to leasing accounting?Richard ShowalterWhite Plains, N.Y.A: Leasing accounting will likely r...

    By CFO Editorial Staff • May 25, 2001
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    Yodlee Camps It Up

    Yodle A Who? Redwood Shores, Calif.-based Yodlee Inc., a provider of aggregation services, named Karen Camp CFO. Camp most recently served as VP of finance and operations at Wayne, Penn.-based Internet holding company Internet Capital Group, and has also held CFO positions at IGeneration, Calyx &...

    By Michelle Gabrielle • May 24, 2001
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    2000 CFO Pay: Rite Aid’s Standley Earned More Than $4 Million

    Rite Aid Corp., which is emerging from a 1998 accounting scandal, paid its senior EVP and CFO John T. Standley more than $4 million in total compensation in the fiscal year that ended March 3, 2001, according to the Camp Hill, Penn.-based drug store chain’s recently released proxy.For their effor...

    By Michelle Gabrielle • May 24, 2001
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    Most 401(k) Job Changers Fail to Roll Over

    Sixty percent of 401(k) participants who change jobs take cash payments rather than roll their balances over into their new employers’ plan or an IRA, says a new report by AARP on people aged 50 and over.That figure contrasts sharply with that of a survey by Putnam study announced yesterday. The ...

    By CFO Editorial Staff • May 23, 2001
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    Shop Till You Drop

    Heading for the Checkout: Supermarket chain Albertsons Inc. announced that its EVP and CFO A. Craig Olson resigned to pursue opportunities after 29 years with the company. SVP and controller Richard J. Navarro was named acting CFO. Olson is the second corporate executive to resign since the compa...

    By Michelle Gabrielle • May 23, 2001
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    2000 CFO Pay: Former Critical Path CFO Received a $250,000 Bonus

    Mark J. Rubash, who served as EVP and CFO of Critical Path, Inc. in 2000, and then resigned at year-end, less than two months before the company warned of accounting irregularities, took home $430,888, including a $250,000 bonus, according to the company’s recently released proxy.Rubash also rece...

    By Michelle Gabrielle • May 22, 2001
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    Training Needed: Many Hit with Withdrawal Taxes On Retirement Plans

    Here’s a reminder to employers to take special care to provide their employees with education and training in how to manage their retirement accounts when they leave a company.A study by Putnam Invesments released today says Americans are getting hit with billions of dollars in taxes and penaltie...

    By CFO Editorial Staff • May 22, 2001
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    Shacking Up

    A New Beat: RadioShack Corp., the Fort Worth, Tex.-based consumer electronics retailer, named Michael Newman SVP and CFO. Newman was most recently VP and CFO of Columbus, Ohio-based lingerie retailer Intimate Brands Inc., which owns the Victoria’s Secret chain. He left the firm last fall. Newman’...

    By Michelle Gabrielle • May 22, 2001
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    2000 CFO Pay: Triarc’s Barnes Enjoyed a Huge Payday

    Leave it to Triarc’s CEO Nelson Peltz and President and COO Peter May. This duo sure knows how to make money from mundane businesses no one else wants.In the 1980s, they shared nearly $800 million in profits when they sold Triangle Industries, a collection of can-making companies, to France’s Pec...

    By Michelle Gabrielle • May 22, 2001
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    Power to the People

    Automatic for the People: Automatic Data Processing Inc., a Roseland, N.J.-based computer services company, said VP and CFO Richard Haviland, will retire on June 30. Karen Dykstra and Richard Douville will split Haviland’s responsibilities after he retires. Dykstra, currently VP and controller, w...

    By CFO Editorial Staff • May 21, 2001
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    CFOs Say They Hold Five Jobs Throughout Their Career

    Accounting and finance professionals expect to hold, on average, five jobs in their career. This is the conclusion of a survey of 1,400 CFOs, conducted by an independent research firm and developed by Robert Half International, Inc., a Menlo Park, Calif.-based staffing firm that specializes in ac...

    By Michelle Gabrielle • May 21, 2001
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    What Planet Are You From?

    What On Earth: Creative Planet, a business-to-business technology and information services firm for media industry professionals, promoted CFO Kelyn Brannon to the post of president. Brannon, who joined the Los Angeles-based company late last year, was previously chief accounting officer of Seatt...

    By Michelle Gabrielle • May 18, 2001
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    Goodwill Taxing

    Q: Does the Financial Accounting Standards Board’s exposure draft on accounting for goodwill have any implications on the tax treatment for goodwill or other intangibles?It is my understanding that goodwill is not tax deductible.Paul JordanChicago, Ill.A: The FASB exposure draft will have no impa...

    By CFO Editorial Staff • May 18, 2001
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    All Booked Up

    A Noble Decision: New York-based online bookseller Barnes & Noble.com Inc. named CFO Marie Toulantis to the new post of president and COO, effective immediately. The company’s treasurer, Kevin Frain was named VP of finance and will take over Toulantis’s functions as CFO.What the Doctor Ordere...

    By Michelle Gabrielle • May 17, 2001
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    2000 CFO Pay: Leucadia’s Treasurer Took a 78 Percent Cut

    Leucadia Executive VP and treasurer Thomas E. Mara earned $825,100 in 2000. This worked out to more than 78 percent less than he took home in 1999, according to the company’s recently released proxy. Mara enjoyed a $270,000 salary, a $533,000 bonus and $22,100 in other compensation in 2000.Howeve...

    By Michelle Gabrielle • May 17, 2001
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    U.S. Robotics Ousts CEO, Promotes CFO

    The Real Thing: U.S. Robotics Corp., a maker of consumer PC modems, announced that CFO Joseph Hartnett has been named interim CEO, upon the company’s dismissal of CEO Van M. Andrews after he and the company’s chairman clashed over strategy. The Schaumburg, Ill.-based company has formed an interim...

    By Michelle Gabrielle • May 16, 2001
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    News That’s Fit to Print

    Hot Off the Press: Lee Enterprises Inc., a Davenport, Iowa- based newspaper publisher, named Carl G. Schmidt VP, CFO and treasurer. Schmidt had previously been SVP and CFO of Johnson Outdoors Inc., an outdoor equipment maker in Racine, Wisconsin.American Plumbing & Mechanical Inc. promoted SV...

    By Michelle Gabrielle • May 15, 2001