Human Capital: Page 29

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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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    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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    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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    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
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    Private Companies See Bright Prospects, Wage Growth

    CEOs and CFOs of privately held companies are growing more confident in the U.S. economy, feeding expectations of brighter prospects for their own businesses. As a result, hiring plans are up and importantly, so are expectations for future wage growth, according to a PricewaterhouseCoopers survey...

    By Ken Esch • Aug. 10, 2017
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    Planned Job Cuts Fall 18% in July to 28,307

    Layoffs announced by U.S.-based employers fell in July to the lowest monthly total since November 2016 but a downturn could be on the horizon, according to a new report.Outplacement firm Challenger, Gray & Christmas said employers announced 28,307 job cuts last month, 18% fewer than in June a...

    By Matthew Heller • Aug. 3, 2017
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    Brad Halverson to Retire as Caterpillar CFO

    Caterpillar, which has recently shown signs of financial recovery after a years-long slump, announced Tuesday that CFO Brad Halverson will retire as CEO in early 2018 after more than three decades with the construction and mining giant.Caterpillar CEO Jim Umpleby thanked Halverson for his many ye...

    By Matthew Heller • Aug. 1, 2017
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    Red Hat CFO Pursues Cloud Agenda

    In 2012, when CFO spoke with Red Hat finance chief Charlie Peters, the company essentially had a single significant product offering, the operating system Red Hat Enterprise Linux. Five years later, Red Hat is neck deep in its transformation to a company with a burgeoning position in cloud-platfo...

    By • July 25, 2017
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    What Makes an Ideal Private Equity CFO?

    As private equity firms look to maximize the value of their holdings, they are increasingly bringing in new CFOs early in the lifespan of their investments.The ideal private equity CFO is both strategic and operational, serving as a thought partner across various functional and divisional aspects...

    By Claude Shaw • July 24, 2017
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    Investors to SEC: Mandate People Disclosures

    A large investor group has asked the Securities and Exchange Commission to adopt rules requiring public companies to disclose information about their human capital management policies, practices, and performance.A rulemaking petition was filed by the Human Capital Management Coalition (HCMC), com...

    By • July 20, 2017
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    Twitter Names Wall Street Vet Ned Segal as CEO

    Twitter has appointed former Goldman Sachs banker Ned Segal as CFO, relieving Anthony Noto of one of his jobs as it continues to seek profitability.Segal, 43, most recently served as senior vice president of finance for Intuit’s Small Business Group, which is responsible for such products as Quic...

    By Matthew Heller • July 12, 2017
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    Citrix Names Finance Chief as New CEO

    Enterprise software provider Citrix Systems said its board had named CFO David Henshall to replace Kirill Tatarinov as chief executive officer and lead its transition to a cloud-based subscription model.Henshall has served as CFO since 2003 when he joined Citrix from Rational Software Corp. In a ...

    By Matthew Heller • July 11, 2017
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    How CFOs Can Take on Bigger Roles

    There’s a revolution brewing in finance departments. Activist investors are pressuring companies on costs just as digital disruption and mounting complexity take their toll. These forces are causing companies to rely even more heavily on their finance teams.Laura Miles And with artificial intelli...

    By Laura Miles and Henrik Poppe • June 26, 2017
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    Accenture Offloads Pension Liability

    Accenture is transferring $1.6 billion in pension liabilities to American International Group and Massachusetts Mutual Life Insurance, according to a report. The deal includes roughly $600 million in lump-sum payments to roughly 7,000 current and former employees who chose that way of being paid ...

    By William Sprouse • June 23, 2017
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    Senate Health Bill Wins Corporate Favor

    While many people who buy health insurance in the individual market, and their advocates, are seething over the Senate’s proposed health-care bill, those representing corporate interests are mostly pleased with it.The Senate is scheduled to vote on the bill next Friday, June 30. If it passes, the...

    By • June 23, 2017
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    Jobless Claims Rise; Labor Market Stays Tight

    Initial claims for state unemployment benefits rose 3,000 for the week ended June 17, but the number of unemployed people remains consistent with a tight labor market, according to the Department of Labor.It was the 120th consecutive week that total claims have been below 300,000, the threshold a...

    By William Sprouse • June 22, 2017
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    CFOs on the Move: Week Ending June 9

    Mutual of Omaha has named Vibhu Sharma CFO and treasurer, replacing the retiring David Diamond. Formerly, Sharma was CEO of Zurich Insurance Group’s UK general insurance business as well as UK country head.Mark Miller Pipasu Soni has been appointed interim CFO at U.S. Steel. He succeeds David Bur...

    By Joan Urdang • June 9, 2017