Human Capital: Page 29

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    J&J, Aetna CEOs Hit Fee-for-Service System

    Running counter to the Trump administration, which is moving to stall changes to the fee-for-service system for paying doctors, the chief executives of two of the world’s largest health-care companies say they favor health-care providers being paid according to medical outcomes rather than on a p...

    By David Katz • Nov. 14, 2017
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    CFOs on the Move: Week Ending Nov. 10

    Tyson Foods has named Stewart Glendinning to lead the finance function. He starts his new post on Feb. 10, but will join the firm on Dec. 11 to ensure a smooth transition. Current finance chief Dennis Leatherby will remain at the firm until April. Previously, Glendinning worked at Molson Coors Br...

    By Joan Urdang • Nov. 10, 2017
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    CFOs on the Move: Week Ending Nov. 3

    Nick Thole has been promoted to the top finance spot at Amway. Thole, who joined the firm in 2008 as manager of mergers and acquisitions, most recently headed finance for the firm’s Europe, India, and Africa region.Katherine Bacher Health Quest Systems has selected Katherine Bacher to lead the fi...

    By Joan Urdang • Nov. 3, 2017
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    Samsung Names CFO Lee as New Chairman

    Samsung Electronics has named CFO Lee Sang-hoon as its new chairman in a major management reshuffle that comes three weeks after its former chief executive warned of an “unprecedented crisis” at South Korea’s biggest company.Lee will fill the board position of the former CEO, Kwon Oh-hyun, who ab...

    By Matthew Heller • Nov. 1, 2017
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    Harry Potter Publisher Fires CFO After 11 Years

    In an unusually terse and forthright press release announcing the firing of a CFO, Scholastic, the publisher of the Harry Potter series and The Hunger Games, today reported the “termination of Maureen O’Connell’s employment as Chief Financial Officer and Chief Administrative Officer.”Most often, ...

    By David Katz • Oct. 30, 2017
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    A CFO’s Case For Investing Big in Employee Development

    Every company says it: Our people are our company, so we invest deeply in them.But the truth CFOs face when they start to make the case for investing in employee development is that the headwinds are stiff. Professional development is expensive. It arguably takes people away from their core respo...

    By Kevin Ingram • Oct. 24, 2017
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    How to Protect Unvested Pay Upon Termination

    Like other top executives, many CFOs have employment agreements that provide for severance and/or notice pay if they are terminated without cause or if they leave with good reason. But such agreements and related deferred or equity plans do not necessarily protect unvested deferred or equity comp...

    By Nancy Shilepsky and Brian MacDonough • Oct. 23, 2017
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    Trump Names Antitrust Lawyer to Head FTC

    President Donald Trump is filling the three vacancies on the Federal Trade Commission, with veteran antitrust lawyer Joseph Simons to be nominated as chairman.The FTC currently has only two members — Maureen Ohlhausen, a Republican who has been serving as acting chairman since Trump took office i...

    By Matthew Heller • Oct. 19, 2017
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    How Might Trump Health-Care Order Affect Group Plans?

    While opinions differ on whether the executive order on health care that President Donald Trump signed on Thursday might affect pricing for group health plans, there’s a possibility that it could lead to some companies eliminating such plans for some or all employees.One aspect of the executive o...

    By • Oct. 13, 2017
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    ‘Nudge’ Theorist Wins Nobel Economics Prize

    U.S. economist Richard Thaler, whose pioneering work has integrated economics with psychology and who popularized the concept of “behavioral economics” in the best-selling book “Nudge,” has been awarded the Nobel Prize for economics.According to the Nobel committee, the University of Chicago prof...

    By Matthew Heller • Oct. 9, 2017
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    CFO Bornstein Leaving After 28 Years at GE

    As CFO, Jeff Bornstein has been instrumental in General Electric’s effort to focus on its industrial core and software. But he won’t be around to assist new CEO John Flannery in that endeavor.GE announced Friday that Bornstein is leaving the conglomerate after 28 years of service and will be repl...

    By Matthew Heller • Oct. 9, 2017
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    Mattel Names Telecom Veteran as New CFO

    Toymaker Mattel has appointed Joseph Euteneuer, an executive with extensive experience in telecommunications, to replace Kevin Farr as CFO.Farr left Mattel last week after serving 17 years as finance chief. Euteneuer joins the company from spectrum trading company Rivada Networks, where he was co...

    By Matthew Heller • Oct. 4, 2017
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    How Execs Can Derisk Company Stock Holdings

    [Editor’s note: the author is the CEO of a registered broker-dealer.]Public-company executives and employees holding highly appreciated company stock often diversify out of some positions over time via outright sales of their shares and by using tools such as exchange funds, equity derivatives, a...

    By Elizabeth Ostrander and Thomas Boczar • Oct. 4, 2017
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    Lilly Veteran Josh Smiley Promoted to CFO

    Eli Lilly has promoted Josh Smiley, a 17-year veteran of the company, to chief financial officer as part of a reshuffle of its executive team.Smiley will succeed Derica Rice, who is retiring at the end of the year. He is currently Lilly’s treasurer, having started out with the drugmaker in 2000 a...

    By Matthew Heller • Oct. 2, 2017
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    Bayer Names Outsider Wolfgang Nickl as CFO

    Bayer AG usually promotes from within to fill its CFO position. But with the completion of its mega-merger with Monsanto looming, it is turning to an outsider with U.S. corporate experience.The German life sciences company announced Tuesday that Wolfgang Nickl, 48, a native of Germany, will succe...

    By Matthew Heller • Sept. 13, 2017
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    29-Year-Old Prodigy Named Kraft Heinz CFO

    At the age of only 29, 3G Capital partner David Knopf has made it to the C-suite of a $100 billion, Fortune 500 company with his appointment as CFO of Kraft Heinz.The precocious Princeton graduate has been working at Kraft Heinz since the merger of Kraft Foods and H.J. Heinz in 2015, most recentl...

    By Matthew Heller • Sept. 8, 2017
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    CFOs Should Help Lead Workforce Transformation

    A host of trends are pressuring many organizations to rethink their workforce models — and not just function by function or business by business, but enterprise-wide. Such trends include competition for digital and analytical skills, millennials’ expectations for progression and development, work...

    By Sandy Cockrell III and Erica Volini • Sept. 8, 2017
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    Eli Lilly to Trim 3,500 Jobs to Save $500 Million

    Eli Lilly said Thursday it will lay off about 8% of its global workforce to cut costs as it invests in developing new drugs.The drugmaker expects the layoffs will impact about 3,500 positions and realize annualized savings of roughly $500 million, which will be about equally split to improve the ...

    By Matthew Heller • Sept. 7, 2017
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    U.S. Job Cuts Show First Increase Since March

    Amid continued downsizing in the retail sector, layoffs announced by U.S.-based employers rose in August, the first monthly gain since March.Outplacement firm Challenger, Gray & Christmas said employers announced 33,825 job cuts this month, 19.4% more than in July and 5% more than in July 201...

    By Matthew Heller • Aug. 31, 2017
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    White House Shelves Obama’s Equal Pay Rule

    Business groups notched another victory over Obama-era policies as the Trump administration blocked a rule requiring employers to report detailed pay data broken down by gender and race.The Obama administration saw the rule as a way to address wage gaps. It was scheduled to go into effect next mo...

    By Matthew Heller • Aug. 30, 2017
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    Williams Cos. Names John Chandler as CFO

    Pipeline company Williams Cos., which recently overhauled its corporate structure, has named energy industry veteran John Chandler as its new CFO, replacing Don Chappel.Chandler previously served for 12 years as finance chief of Magellan Midstream Partners, which was spun off from Williams in 200...

    By Matthew Heller • Aug. 28, 2017
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    For CFOs, Opportunities to Move Up Are Limited

    For finance chiefs with a yen for moving up to the CEO chair, the likelihood of that happening pulled back this year — but future prospects might be brighter than that current trend seems to suggest.From 2013 through 2016, the proportion of big U.S. companies whose chief executives had been CFOs ...

    By • Aug. 24, 2017
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    How to Boost the Value of Deferred-Comp Plans

    Non-qualified deferred compensation (NQDC) plans, which allow highly paid workers to set aside income on a tax-deferred basis, are popular tools employers use to attract and retain executive-level talent. Unfortunately, they can also introduce significant volatility into the income statement.Comp...

    By Benjamin Eisler • Aug. 22, 2017
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    Job Seekers Gloomy About Salary Prospects

    More Americans are searching for jobs but they are becoming more pessimistic about receiving a job offer and expect employers to offer them less money, according to a new survey.The New York Fed has conducted its Labor Market Survey every four months since March 2014. In the July survey, the firs...

    By Matthew Heller • Aug. 22, 2017
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    Cox’s CFO Values ‘Varied Career’ with Single Employer

    For an executive, spending decades with the same company may be simultaneously a plus and a minus. On the plus side is the opportunity to become immersed in and knowledgeable about the business to a degree that enables highly nuanced decision-making. The minus: foregoing the diversity of perspect...

    By • Aug. 14, 2017