Human Capital: Page 44
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Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Play Ball!
Name: Steve Fitch Position: SVP and CFO of the Boston Red Sox Previous Positions: VP/controller, VP of finance, VP of human resources, Boston Red Sox; executive director of finance, San Diego Padres; controller, IRT; controller, Sav-On Drugs Notable For: Wearing multiple hats in his job, with res...
By Edward Teach • April 15, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
CFOs on the Move: Week Ending April 12
Stephen Cumming has resigned as CFO and vice president of finance at Atmel Corp. Steve Skaggs, senior vice president of corporate strategy and development at the microcontroller designer and manufacturer, will add to his responsibilities as interim CFO.Hanmi Financial Corp. has named Shick Yoon t...
By Joan Urdang • April 12, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Small Companies May Have to Offer IRAs
Small companies could be required to set up individual retirement accounts funded by pre-tax deductions from participating employees’ pay, if the federal government gets its way. Several present and former finance chiefs contacted by CFO said they support the idea, though in some cases with reser...
By David McCann • April 11, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
SMB Finance Chiefs Call for Visa Reforms
Editor’s Note: The Senate released immigration reform legislation on April 16. The bill raises the limit on H-1B visas to 110,000 in the first year (plus an increased exemption), with an eventual ceiling of 180,000. It would also impose significant fees on heavy corporate users of the visa syste...
By Marielle Segarra • April 9, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Managing Confidential Data: The Best Defense
So you think your company is immune from a data breach? Your IT team has set up a firewall, intrusion-detection prevention, and antivirus protection. The company has never been the victim of a data breach. So you and your fellow corporate officers assume your company is sufficiently protected.Tha...
By Bill Mariano • April 8, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
CFOs on the Move: Week Ending April 5
Kathryn Mikells has been named to the top finance spot at Xerox Corp., effective May 2. She will join the firm from The ADT Corp., where she is CFO.Cargill Inc. has appointed Marcel Smits to lead the finance function, effective April 15. He succeeds president and chief operating officer David Mac...
By Joan Urdang • April 5, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Celanese Perfects the Art of Transforming Finance
Steven Sterin has been transforming the finance function at Celanese almost continuously since 2005. But he thinks the challenges that lie ahead for his team may be greater than anything they’ve yet experienced. That’s saying a lot. In 2004 and 2005, when the Fortune 500 chemicals company, then b...
By David McCann • April 3, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
CFOs on the Move: Week Ending March 29
Title-insurance provider First American Financial Corp. has promoted Mark Seaton to lead the finance function. He succeeds Max Valdes, who is retiring but will stay on at the company until next March to aid in the transition. Seaton has been at First American since 2006 and most recently was seni...
By Joan Urdang • March 29, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Many Execs See CFOs as Poor Operators
CFOs may be taking on more operational responsibility, but many corporate executives apparently don’t think that’s a great idea.Among 145 executives with various titles surveyed exclusively for CFO by recruiting firm Korn/Ferry, 71% said the CFO at their company is at least somewhat involved in r...
By David McCann • March 25, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
CFOs on the Move: Week Ending March 22
Robert Reilly has been promoted to the top finance spot at The PNC Financial Services Group. He will replace Richard Johnson upon Johnson’s previously announced retirement, scheduled to take place in the third quarter. Reilly has led the firm’s Asset Management Group since 2005.The Men’s Wearhous...
By Joan Urdang • March 22, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Five Myths about Predicting Workforce Behaviors
CFOs may want more analytical muscle from human resources, but at most companies that’s a far-off dream.PwC Saratoga, a PricewaterhouseCoopers unit focused on workforce measurement, defines four levels of HR analytical capability. Level 1 is producing ad hoc metrics and reports that tell “what ha...
By David McCann • March 22, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Two-Part Harmony
Name: Jim Menger Position: CFO of the Cleveland Orchestra Previous Positions: Controller at the Cleveland Orchestra; manager, audit practice, at Ernst & Young Notable For: His experience negotiating with unions.His Take-Away: One of my favorite parts of the job is negotiating contracts. I’m o...
By Marielle Segarra • March 21, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Smarter Operations
Although they are in very different industries, Merck, the subject of this month’s cover story, is similar in key respects to General Motors, which was featured in our January/February issue. Both companies make enormous investments in product development — about $15 billion a year for GM, about ...
By Edward Teach • March 21, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Getting on Board
Most CFOs aren’t members of their companies’ boards, but they might as well be. They attend the greater portion of most board meetings and are asked for a lot of input. But are they always fully prepared? After all, a new hot item may pique a board’s interest at any time. “If you’re caught flat-f...
By David McCann • March 21, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Failure as a Teaching Aid
Regarding the article “In the Fast Lane at GM” (January/February): I believe a business failing is a teaching aid to those who caused the failure, and the business community needs to follow those folks in their business endeavors so they don’t make the same mistakes again. It used to be that a fa...
By CFO Readers • March 21, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Ex-CFO Seeks Role with P.E. Portfolio Partners
Here’s a novel way for a just-replaced finance chief to look for work: get your former employer to tuck a notice into a press release reporting on your replacement. And make sure there’s a public announcement in the release that you’re looking for opportunities at companies within the same privat...
By David Katz • March 19, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
With Private Exchanges, Workers Dump Old Health-care Choices
Data released today by Aon Hewitt suggests that when companies join a private health-insurance exchange that gives employees more health-plan options from which to choose, they will overwhelmingly choose something different from what they selected previously.Sears, Darden Restaurants, and Aon Hew...
By David McCann • March 18, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
CFO Guard Changes at New York Life
New York Life Insurance Co. culminated a long-planned succession by naming John Fleurant as its CFO, effective July 1, replacing Michael Sproule, 65, who is retiring as scheduled on June 30. At that time, Fleurant will start serving as the company’s finance chief.Fleurant, 50, currently serves as...
By David Katz • March 18, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
The CFO as Insurance Buyer
As CFO of United Educators, an insurance company formed in 1987 that focuses on the perils of colleges, universities, public school districts and the like, Michael F. Horning plays the traditional roles of a finance chief, heading up accounting, human resources and facility management. But beside...
By Caroline McDonald • March 14, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Today’s Keys for Lowering Drug Costs
Pharmacy benefits for active employees and Medicare-eligible retirees present an excellent opportunity to drive out unnecessary costs and improve risk management, driven by market dynamics as well as regulatory and tax changes.Right now, drug costs are in flux. Over the next three years, brand-n...
By Barry Eyre • March 14, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Don’t Gamify. Pleasurize.
Orlando, Fla. — Will gamification catch on in a big and enduring way in Corporate America? Will it flame for a while before burning out? Or could it go either way, depending on how many companies do it right?PwC, for one, predicted in January that this year more companies than ever will use gamif...
By Taylor Provost • March 6, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Will New Benefits-Eligible Workers Wreck Your Finances?
The finances of companies in industries that employ large numbers of low-wage workers are potentially in peril starting next year. The individual mandate — which states that all U.S. residents must buy health insurance or pay a federal-tax penalty — and other provisions of the Affordable Care A...
By David McCann • March 5, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
A New Private Health Exchange, with a Twist
Yet another benefits consulting firm, Buck Consultants, has announced plans to launch a private health-insurance exchange for companies’ active employees. Each of such exchanges offers twists that competitors don’t, and Buck’s is no exception.Initially, Buck will be targeting companies with at le...
By David McCann • March 4, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
Profitably Parting Ways: Getting More Value from Divestitures
Most divestitures start with a strategic decision that a company is no longer the best owner of one of its businesses. It’s a natural move for executives who see value in actively managing their portfolio of business units—recognizing that to grow, they sometimes have to shrink first—to deploy c...
By David Fubini and Michael Park • March 1, 2013 -
Dantes, Edmond. "Man and Woman Sitting on Chair Using Laptop" [Photograph]. Retrieved from Pexels.
CFOs on the Move: Week Ending March 1
Orbitz Worldwide has selected Mike Randolfi to lead the finance function, effective March 11. He comes to the online travel company from Delta Air Lines, where he is now controller.Eye-health firm Bausch + Lomb has appointed Robert Bertolini president and CFO. Formerly, he headed finance at Sche...
By Joan Urdang • March 1, 2013
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