Human Capital: Page 70

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    CFOs on the Move: Week Ending October 8

    Jeff Sheets has been promoted to senior vice president, finance, and CFO of ConocoPhillips Co. Sheets, who had been senior vice president, commercial and planning & strategy, succeeds Sigmund Cornelius, who announced he would retire at the end of the year.Market-research company Harris Intera...

    By Joan Urdang • Oct. 8, 2010
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    CFOs on the Move: Week Ending October 8

    Jeff Sheets has been promoted to senior vice president, finance, and CFO of ConocoPhillips Co. Sheets, who had been senior vice president, commercial and planning & strategy, succeeds Sigmund Cornelius, who announced he would retire at the end of the year.Market-research company Harris Intera...

    By Joan Urdang • Oct. 8, 2010
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    A CFO Pleads His Case in Stem Cell Debate

    A recent court ruling that briefly halted federal funding for embryonic stem cell research is the kind of external, uncontrollable event that can induce heartburn in a CFO in the regenerative-medicine industry.Cytori Therapeutics, which sells a device that gathers stem cells from human fat tissue...

    By • Oct. 6, 2010
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    After Eight Years at FASB, Herz Looks Back

    On September 30, Robert Herz stepped down as chairman of the Financial Accounting Standards Board, leaving board member Leslie Seidman as acting chairman. Neither FASB nor Herz would comment on why he retired after more than eight years in the job, but it probably wasn’t due to any lack of popula...

    By Alix Stuart • Oct. 4, 2010
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    “I Hate CFOs Who Always Say No.”

    Clothing and gear manufacturer Patagonia has always relished the challenge of a hard climb. Since its founding in 1975 by legendary outdoorsman and environmentalist Yvon Chouinard, the company has pursued a dual mission: to make a profit even as it “uses business to inspire solutions to the envir...

    By Marie Leone • Oct. 1, 2010
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    CFOs on the Move: Week Ending October 1

    Dow Jones & Co. has named Kevin Halpin as its new finance chief, effective October 15. He takes over from Stephen Daintith, who is leaving the company. Halpin joins Dow Jones from its parent company, News Corp., where he was senior vice president of finance.Charles Holley will become head of ...

    By Joan Urdang • Oct. 1, 2010
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    A Matter of Perception

    There is no question that executive compensation is a delicate topic these days, one that is garnering both intense regulatory scrutiny and increased shareholder control. But it appears that boards of directors may have found a clever way to appease both the public and their executives. According...

    By Russ Banham • Oct. 1, 2010
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    Have Illness, Will Travel?

    Two years ago, Bob Ihrie, senior vice president of employee rewards and services for home-goods retailer Lowe’s, decided to investigate “medical tourism” as a potential way to reduce health-care costs. The basic idea: have employees travel to places like Costa Rica or Singapore for certain surger...

    By Alix Stuart • Oct. 1, 2010
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    Making Retirement Savings Last

    With companies continuing to shift away from pensions toward 401(k)s, many CFOs no longer have to worry about a long stream of future obligations draining their corporate coffers. They may, however, find themselves with a new worry: retired employees draining their own coffers.Among the first wav...

    By Alix Stuart • Sept. 28, 2010
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    CFOs on the Move: Week Ending September 24

    Jeff Brown has been promoted to the top finance spot at tax-services provider H&R Block Inc. Brown, who has been serving as interim CFO, had been corporate controller.Verizon Communications Inc. has selected Francis Shammo to lead the finance function, effective November 1. He replaces John K...

    By Joan Urdang • Sept. 24, 2010
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    Aloha, Asia

    Three years ago, in the midst of a hotly competitive fare war with other inter-island carriers, executives of Hawaiian Airlines turned their attention to the future. True, roughly a third of the company’s revenues were tied to the routes servicing Hawaii’s major islands, and the situation demande...

    By David Katz • Sept. 24, 2010
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    CFOs on the Move: Week Ending September 17

    John Killian plans to retire as finance chief of Verizon Communications Inc. near the end of the year. Killian, who has been CFO since March 2009, has been at the company since he joined then-New England Telephone in 1979. Verizon plans to name his replacement soon.Blockbuster Inc. has announced ...

    By Joan Urdang • Sept. 17, 2010
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    Life (Insurance) in the Balance

    Life insurance has an image problem, and the industry-funded research firm Limra is intent on helping turn things around.Lamenting a sharp falloff in households owning life coverage of any kind — to 70% currently from 83% four decades ago — Limra asks employers to do more to support their own gro...

    By Roy Harris • Sept. 15, 2010
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    Pension Plans: Going Alternative

    Alternative investments, such as hedge funds, private equity, and real estate, are slowly but surely gaining sway with corporate pension fund managers. A recent survey by J.P. Morgan Asset Management of about 150 corporate pension plans found that alternative investments constitute about 11% of t...

    By Alix Stuart • Sept. 14, 2010
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    CFO Hiring Slow, but Hope Glimmers

    For those looking for a new CFO gig, there’s bad news and there’s good news.On the bad-news front, CFO turnover, as measured by the pace of hires, is set to hit its lowest level since 1995, according to a new report by executive-search firm Crist Kolder Associates. Just over 12% of the 668 large ...

    By Alix Stuart • Sept. 14, 2010
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    New Orleans Rising

    The mission of the home-building organization Habitat for Humanity International, drawing on volunteer power and private funding, is to “eradicate substandard housing and to offer lower-income people a ‘hand up’ rather than a handout,” according to Lisa Farris. As CFO of the New Orleans-area affi...

    By Roy Harris • Sept. 10, 2010
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    CFOs on the Move: Week Ending September 10

    CIGNA Corp. has announced that CFO Annmarie Hagan is leaving the company. Treasurer Thomas McCarthy will serve as acting CFO until a permanent successor is found.John Duffey has been appointed to the top finance spot at Six Flags Entertainment Corp. He replaces Jeffrey Speed, who is leaving the t...

    By Joan Urdang • Sept. 10, 2010
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    Turning the Page

    Mark Bierley’s resignation from Borders Group Inc. seemed at first like a familiar story: finance executive makes a hasty escape from a tempestuous CFO job. The second-largest company in the troubled bookselling industry (behind Barnes & Noble) announced on August 23 that Bierley, a 14-year B...

    By Roy Harris • Sept. 8, 2010
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    CFOs on the Move: Week Ending September 3

    Kami Ragsdale is the new finance chief at software developer for media company INVISION Inc. Most recently, she was senior vice president of financial planning and analysis at AOL Inc. New York.The Pantry Inc. has named Mark Bierley to the top finance spot, effective September 27. He succeeds Fra...

    By Joan Urdang • Sept. 3, 2010
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    Health-Plan Headaches

    When Congress passed the Patient Protection and Affordable Care Act last March, some CFOs whose companies provide employee health-care coverage may have taken solace in knowing they wouldn’t have to comply with all the mandates of the new law, thanks to some provisions that shielded existing plan...

    By Alix Stuart • Sept. 2, 2010
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    Anticipating the Pain of Reform

    Six months after the Patient Protection and Affordable Care Act, aka “health-care reform,” was signed into law, finance chiefs say they still have little clarity on how best to structure their employee health-care plans to comply with the regulations. But they do seem certain that both companies ...

    By Alix Stuart • Sept. 1, 2010
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    Blazing Their Own Trails

    Autodesk CFO Mark Hawkins counts himself very fortunate to have worked for two companies with robust and carefully structured training and development programs. Hewlett-Packard, for example, sent him twice to graduate school and rotated him through various roles, some of which were overseas. Late...

    By Alix Stuart • Sept. 1, 2010
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    “It Wouldn’t Matter if It Was Widgets.”

    While there may be no such thing as a typical CFO, it’s a safe bet that Richard Cowan is less typical than most. Among the more interesting data points on his résumé is his three-year stint (1992–1995) as national director of NORML (the National Organization for the Reform of Marijuana Laws). Tod...

    By Scott Leibs and Leah Tedesco • Sept. 1, 2010
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    Retention Bonus – or Bust?

    OfficeMax CFO Bruce Besanko received “rock star treatment” from his employer, according to a recent posting on the blog Footnoted.org. In a recent 8-K, the blog notes, the company announced that Besanko had been granted a retention bonus comprised of about $740,000 worth of restricted stock units...

    By Alix Stuart • Aug. 31, 2010
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    CFOs on the Move: Week Ending August 27

    Domino’s Pizza Inc. has promoted Michael Lawton to the top finance spot. He replaces Wendy Beck, who is leaving to become CFO of Norwegian Cruise Line. Lawton has been at the company since 1999, most recently as executive vice president of its international division.Mark Bierley has resigned from...

    By Joan Urdang • Aug. 27, 2010