Human Capital: Page

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    Downturn in Turnover

    CFO turnover at big companies dropped by 28% last year, as boards shied away from nonessential change and private-equity firms slowed their efforts to woo public-company executives, according to new data from executive-recruiting firm Heidrick & Struggles.Only 13% of all Fortune 1,000 CFO sea...

    By Alix Stuart • Feb. 10, 2010
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    A Healthy Increase

    How much will health-care costs go up in 2010? According to the Duke University/CFO magazine Global Business Outlook survey of financial executives in the fourth quarter of 2009, the increase will average 6.8% over the next 12 months. That’s up from the previous quarter’s estimate of 6.0%.“This i...

    By Alix Stuart • Feb. 9, 2010
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    CFOs on the Move: Week Ending February 5

    Jeffrey Harris is moving up from vice president of finance to CFO at children’s clothing retailer The Gymboree Corp., replacing current CFO and COO Blair Lambert in the top finance role. Lambert will remain as COO through the third quarter of this year.Nanotechnology company Arrowhead Research Co...

    By Joan Urdang • Feb. 5, 2010
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    No More Peanut-Butter Pay

    While the world waits to hear who will get what out of Goldman Sachs’s $16.2 billion bonus pool, a recent survey of financial-services professionals shows the variation in individual bonus amounts is growing.In general, more Wall Street professionals are getting bonuses for 2009 than did for 2008...

    By Alix Stuart • Feb. 3, 2010
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    “It’s a Game-Changing Technology.”

    For years, proponents of alternative energy have claimed that the answer to global warming (and foreign-oil dependence) is literally blowing in the wind. The American Wind Energy Association (AWEA) maintains that wind power has the potential to generate more than double the electricity produced b...

    By Edward Teach • Feb. 1, 2010
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    What Will Companies Do?

    As health-care reform moves forward, many CFOs face a dilemma: should they continue to invest in programs that might rein in costs over the long term, or stop providing insurance altogether, given the disincentives contained in current versions of the legislation?At press time, at least two eleme...

    By Alix Stuart • Feb. 1, 2010
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    All the Right Moves

    Many finance executives are keen to boost staff morale, but few can rival Clyde Hosein’s creative — and potentially humiliating — effort. Last December, the CFO of Marvell Technology Group strutted his stuff, literally. Inspired by the choreographed “mob dance” that a Chicago crowd performed with...

    By Alix Stuart • Feb. 1, 2010
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    Escaping the Executive Bubble

    Many CFOs know what it’s like to ask a room full of employees if they have any questions — only to be met with deafening silence. Even when the finance chief earnestly solicits queries, employees often clam up. Perhaps they’re not engaged. Perhaps they doubt an honest answer. These days, they sim...

    By Kate O'Sullivan • Feb. 1, 2010
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    Fraud Case Casts Doubt over Sarbox Exemption

    If allegations that a finance executive pilfered as much as $31 million over five years from Koss Corp. prove true, it won’t just be bad news for Koss: it may also deal a blow to those who hope that smaller, publicly traded companies will be exempted from full compliance with the Sarbanes-Oxley A...

    By Sarah Johnson • Feb. 1, 2010
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    CFOs on the Move: Week Ending January 29

    Robert Pollichino has been promoted to CFO of Madison Square Garden. Pollichino previously served as executive vice president of finance for the company, which expects to complete its spin-off from Cablevision Systems Corp. in February.Gladstone Investment Corp. has named David Watson to head the...

    By Joan Urdang • Jan. 29, 2010
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    The Case for Insiders

    While boards of directors tend to seek sitting chief executives to fill CEO vacancies, new research from Rice University suggests that promoting CEOs from within may be more effective — which could be good news for CFOs who want the top spot.In a study of 193 chief executives in the industrial se...

    By Kate O'Sullivan • Jan. 28, 2010
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    Compensation Restoration

    A number of firms that cut executive salaries in 2008 or 2009 are in the process of reinstating them, according to a recent report by Equilar, an executive-compensation research firm.Equilar followed up with the 40 large companies it had flagged last year as reporting at least one executive salar...

    By Alix Stuart • Jan. 26, 2010
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    CFOs on the Move: Week Ending January 22

    Bob Komin has been named to head finance at Linden Lab, creator of virtual world Second Life. He comes to the company from solar-energy start-up Solexel, where he served as CFO for the past two years.J. Scott Di Valerio will be the new finance chief at Coinstar Inc., a self-service coin-counting ...

    By Joan Urdang • Jan. 22, 2010
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    King Arthur’s Quest

    Wanted: a CFO who can go toe-to-toe with a CEO in a confident, constructive way. One who sees compatibility between long-term profit…and kindness…. “When I say I’ve got a cool idea, the CFO latches on and helps me work it through.”These requirements, along with more-standard items such as previou...

    By Alix Stuart • Jan. 21, 2010
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    The Bill for the Senate’s Bill

    While Democrats reconsider their options to pass health-care reform legislation in the wake of Massachusetts Republican Scott Brown’s election to the Senate, others are counting the costs of the current Senate bill that is expected to be at the heart of that effort.Until recently, House and Senat...

    By Alix Stuart • Jan. 20, 2010
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    CFOs on the Move: Week Ending January 15

    Bank of America Corp. CFO Joe Price has a new job: as of February 1, he will be president of the company’s consumer, small business, and card banking division. Chief accounting officer Neil Cotty will become interim finance chief while an external search for Price’s successor is under way.Restaur...

    By Joan Urdang • Jan. 15, 2010
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    Power Hitters, Industry Switchers

    Chris Liddell, the newly installed General Motors CFO, could be the poster boy for the portability of finance skills. Coming from tech giant Microsoft, Liddell has a sterling reputation but no direct experience with the auto industry and its various manufacturing and distribution challenges.To be...

    By Alix Stuart • Jan. 14, 2010
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    Do Wellness Programs Make Cents?

    While employee health-improvement programs have become more and more popular as a way to contain firms’ health-care costs in recent years, very few companies actually know how much their investments in such programs as on-site flu shots and free annual checkups are yielding, according to a recent...

    By Alix Stuart • Jan. 13, 2010
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    Giving Up on Federal Help, E*Trade Turns to Self-Help

    Talk about the challenges of a new job. The day Bruce Nolop joined E*Trade Financial as the online brokerage and banking firm’s CFO — September 12, 2008 — was also the day before the weekend leading up to what many people regard as the epicenter of the financial crisis: the declaration of bankrup...

    By David Katz • Jan. 12, 2010
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    CFOs on the Move: Week Ending January 8

    As part of a company restructuring, Dow Jones & Co. finance chief Stephen Daintith will add the title of chief operating officer to his role. Prior to becoming CFO in 2008, Daintith headed finance at News International.Steven Bensinger has joined The Hanover Insurance Group Inc. as senior fin...

    By Joan Urdang • Jan. 8, 2010
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    Farewell, Company Health Plans?

    For the past 19 years, Frank Santos, CFO of the privately held, seven-property Rosen Hotels and Resorts in Orlando, Florida, has prided himself on delivering high-quality health care to his employees in a unique and low-cost way.In 1991 the company set up a primary-care clinic in one of its hotel...

    By Alix Stuart • Dec. 31, 2009
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    Best of 2009: Employee Benefits

    Snip, snip, snip. That’s the sound of employee benefits being trimmed, often to save the very jobs of the employees in question, and a sound that was heard almost continuously in 2009. Foundational benefits such as 401(k) matches went out the door in many companies, accompanied by other nice-to-h...

    By CFO Editorial Staff • Dec. 31, 2009
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    CFOs on the Move: Week Ending January 1

    Mark Faris has been promoted to lead the finance function at SRI/Surgical Express Inc., a provider of supply-chain management and central-processing services to surgery centers and hospitals. Faris started at the firm in 2007 as controller, and has been interim principal financial officer since A...

    By Joan Urdang • Dec. 31, 2009
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    Best of 2009: Careers

    It was the year of the CFO in more ways than one, as the finance chief’s role expanded by necessity at many companies. All of the standard challenges were still there, such as leading the finance organization. But as CFO noted, plenty of new challenges emerged in 2009, such as maintaining liquidi...

    By CFO Editorial Staff • Dec. 28, 2009
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    CFOs on the Move: Week Ending December 25

    Chris Liddell has been named vice chairman and CFO of General Motors. He will leave Microsoft, where he has headed finance since 2005, on December 31. Liddell succeeds Ray Young, who has been appointed vice president, international operations.Retailer Urban Outfitters Inc. has announced that John...

    By Joan Urdang • Dec. 24, 2009