Human Capital: Page 71

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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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    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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    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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    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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    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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    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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    “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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    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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    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
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    Salt Talks

    As a former project-management banker at HSBC and Bank of America, Michael Whalen says he’s been “eating my own cooking” as the current CFO of SolarReserve, where a big part of his job involves raising money to finance solar-energy plants that provide electricity to utilities.There’s a good chanc...

    By Marie Leone and David Katz • Aug. 23, 2010
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    CFOs on the Move: Week Ending August 20

    Photography and multimedia products creator and distributor Getty Images Inc. has named Bart Catalane as its new finance chief. Previously, he was CFO of webloyalty.com.Neil Davidson has been promoted to CFO and corporate treasurer of Bally Technologies Inc., a designer, manufacturer, and distrib...

    By Joan Urdang • Aug. 20, 2010
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    CFOs on the Move: Week Ending August 13

    CFO Cathie Lesjak will add to her responsibilities by becoming interim CEO at Hewlett-Packard following the resignation of Mark Hurd. Lesjak has been at the company for 24 years and has been finance chief since 2007.Siemens Enterprise Communications has named Henning Rehder head of finance. Previ...

    By Joan Urdang • Aug. 13, 2010
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    Pension Plans: Why Safer Isn’t Catching On

    Ever since Congress passed the Pension Protection Act four years ago this month, corporate pension-plan sponsors have been slowly but surely moving toward less-risky asset allocations in order to maintain compliance with the law’s stringent funding requirements. For many, that has meant pursuing ...

    By Alix Stuart • Aug. 13, 2010
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    Former Ford CFO Goes Back to School

    Former Ford Motor CFO and vice chairman Allan Gilmour has been successful at many things, but retirement may not be one of them. His first attempt was in 1995, when he left Ford after 35 years with the automaker. In 2002, however, he rejoined the floundering company at the behest of then-CEO Bill...

    By Alix Stuart • Aug. 12, 2010
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    CFOs on the Move: Week Ending August 6

    Thomas Etergino will join TheStreet.com Inc. as CFO on September 7. He comes to the digital financial media company from eMusic.com, where he has been head of finance since 2006 and chief operating officer since 2008.Occidental Petroleum Corp. has promoted James Lienert to the top finance spot, e...

    By Joan Urdang • Aug. 6, 2010
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    Overqualified…and Out of Work

    Several years ago, Vernon LoForti made the leap so many CFOs dream of: after 13 years as finance chief for Overland Storage, then a $150 million-plus publicly traded data-management company with more than 300 employees, he became the San Diego-based company’s CEO. When he and the board split last...

    By Alix Stuart • Aug. 6, 2010
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    An Open (Source) and Shut Case

    The more specialized a company is, the more likely it is to prefer a CFO with experience in that specialty. The catch, of course, is that there may be few people available who fit the bill.In that sense, Talend, a five-year-old maker of database-management software, was fortunate in its recent hi...

    By • Aug. 6, 2010