Human Capital: Page 81

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    CFOs on the Move: Week Ending May 8

    John Olin, vice president and controller at Harley-Davidson Motor Co., will add to his title as interim CFO of Harley-Davidson Inc. In that role, he succeeds Tom Bergmann, who is leaving the company. Olin has been at Harley-Davidson since 2003; prior to that, he worked in finance at various compa...

    By Joan Urdang • May 8, 2009
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    Leadership in Finance: Morrisons’ Richard Pennycook

    When Richard Pennycook joined Morrisons, a £14.5 billion UK supermarket chain, as group finance director in October 2005, its problems were well known. A year before, the company paid £3 billion for Safeway, a larger rival, and bungled the integration. A string of subsequent profit warnings led t...

    By Tim Burke • May 7, 2009
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    Boards to Execs: You’re Not Worth It

    Amid shareholders’ mounting rage over what they see as wantonly excessive compensation for underperforming executives, defenders of high pay have had one steadfast rebuttal: It’s needed to retain top management talent.But corporate boards, it seems, aren’t buying it. In a survey of board members ...

    By • May 6, 2009
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    Leadership in Finance: Zebra Technologies’s Michael Smiley

    As finance chiefs around the country slash everything from travel to payroll, many are weighing their ability to invest for future growth. Those whose companies are struggling for survival don’t have the luxury of thinking that far ahead, as evidenced by a recent McKinsey survey that found 40% of...

    By Kate O'Sullivan • May 1, 2009
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    CFOs on the Move (Europe): Week Ending May 1

    UniCredit, an Italian financial services group, moved Marina Natale from head of its private banking division to group CFO. She replaces Ranieri de Marchis, who will become head of audit. De Marchis replaces Elisabetta Magistretti, who is retiring.Allied Irish Banks, a beleaguered Irish lender, a...

    By Jason Karaian • May 1, 2009
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    Are Target Funds on Target?

    See this year’s 401(k) Buyer’s Guide.So much for autopilot. Amid all the recent tumult in the 401(k) space, one area that plan sponsors may have thought was trouble-free is anything but. Target-date funds — premixed portfolios that automatically get more conservative as an investor’s retirement d...

    By Lynn Brenner • May 1, 2009
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    “It Still Hurts When You Lose”

    Charlie Mierswa is all over the court — or, more accurately, the arena. He’s talking with fans, backslapping security guards, visiting with VIPs, even wiping up a coffee spill. He’s highly visible, but then, so is his company: the New Jersey Nets of the National Basketball Association. The Nets p...

    By • May 1, 2009
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    Good Sports

    Aside from the occasional coaching stint, most CFOs’ Little League days are long past, but the lessons learned on those distant summer evenings may hold the key to their future success. Two such lessons — learning to take a leadership role on a team and to collaborate with other team members — ar...

    By Kate O'Sullivan • May 1, 2009
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    CFOs on the Move: Week Ending May 1

    Beauty-care products company Revlon Inc. has promoted Alan Ennis to the post of president and CEO. Previously he was executive vice president, CFO, and president of Revlon International. He takes over from David Kennedy, who will become the firm’s vice chairman.Murray Demo will be the new executi...

    By Joan Urdang • April 30, 2009
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    FEI: No Raises for 31% of Finance Execs

    Thirty-one percent of 990 financial executives have received no salary increase, according to a survey conducted in December 2008 and January 2009 and issued today by the research arm of Financial Executives International. That’s just about double the number (16%) of those who received no raises ...

    By David Katz • April 29, 2009
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    I Ripped Off Clients, Dental Plan’s Ex-CEO Admits

    Companies’ efforts to combat fraud should not necessarily end with internal scrutiny. Some types of external suppliers may be in a position to rip you off, as well.To that point, the Justice Department announced that Jonathan Hogge, the former CEO of a dental-plan administrator, has pled guilty t...

    By • April 28, 2009
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    Even CFOs Get the Retirement Blues

    The stock-price plunge has spared few individual investors and, as a group, finance executives are certainly no exception. In fact, because they have more money than most people, their losses are greater, in raw-dollar terms.Many American workers, especially those age 50 or older, cannot fathom n...

    By • April 24, 2009
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    CFOs on the Move (Europe): Week Ending April 24

    German engineering group GEA named Helmut Schmale as its new CFO. He replaces Hartmut Eberlein, who will move onto the company’s supervisory board. Schmale joined GEA in 1993 and rose to head of the thermal engineering unit before being tapped as group finance chief at the company’s AGM earlier t...

    By Jason Karaian • April 24, 2009
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    CFOs on the Move: Week Ending April 24

    John Pietrowicz has been promoted to managing director and deputy CFO at derivatives exchange CME Group. Pietrowicz, who has been with the company since 2003, is a former CFO at electronic commodities exchange The Merchants’ Exchange.Aurora, Illinois-based holding company Westell Technologies Inc...

    By Joan Urdang • April 23, 2009
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    Pension-Disclosure Trap Looms

    New disclosure requirements for defined-benefit pension plans could pose problems for CFOs not paying close attention, a benefits attorney told CFO.com.Time is running out to get a handle on an amendment to the Pension Protection Act of 2006 that requires plan sponsors to describe an investment p...

    By • April 22, 2009
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    CFOs on the Move (Europe): Week Ending April 17th

    Dutch semiconductor equipment maker ASM International announced that it would not renew the contract of CFO Naud van der Ven when it expires next month. The supervisory board “did not agree with the conditions requested by Mr van der Ven for his reappointment,” read a statement. The board also no...

    By Jason Karaian • April 17, 2009
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    CFOs on the Move: Week Ending April 17

    Following the sale of biotechnology company Genentech Inc. to its majority owner, Swiss pharmaceuticals company Roche, David Ebersman, CFO and executive vice president of Genentech, will be leaving the company, effective May 1. He will be replaced by Steve Krognes, currently head of Roche corpora...

    By Joan Urdang • April 16, 2009
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    Economy’s Plunge Spares Health Benefits — For Now

    The recession has clearly led increasing numbers of companies to eliminate or reduce fund matches in 401(k) programs and to change their severance policies. But the most costly benefit of all, health care, has been little affected so far.One reason could be the timing of the annual benefits cycle...

    By • April 16, 2009
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    Leadership in Finance: Maverik Lacrosse’s Billy Pymm

    Billy Pymm plays attack. That’s not his management style, although he and the other senior managers at Maverik Lacrosse label themselves entrepreneurs. Pymm, 35, is an attackman, the equivalent of a forward in hockey or soccer, in the Gotham Lacrosse league, an organization mostly made up of Wall...

    By Marie Leone • April 15, 2009
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    First-time CFO Risks Leaving a Big Fish

    Tiger Woods likes to talk about his passion for “being there on Sunday afternoon,” when a golf tournament’s outcome is decided — that is, for putting himself “in position to win.” The more often he does that, he figures, the more he will win.A similar mindset led Jeff McCombs to give up a high-pr...

    By • April 14, 2009
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    Ex-CFO Sues Motorola for Firing Him

    Claiming that he was fired by Motorola on January 29 in retaliation for refusing to accept “unsubstantiated and misleading financial forecasts” by the company’s Mobile Devices unit, ex-CFO Paul Liska is suing the telecom for $1.5 million in severance pay plus punitive damages, according to Liska’...

    By David Katz • April 10, 2009
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    Layoff Binge Spurs Severance-Policy Flux

    With so many companies laying off workers, revising severance-pay policies is in vogue as well. And while a majority of employers will save money under their new provisions, a sizable minority will not, according to a new survey.Among 180 companies surveyed by Hay Group, a human-resources consult...

    By • April 10, 2009
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    Memo from HR: We Do Too Create Value

    Rutgers University professor Richard Beatty sparked a verbal conflagration at last month’s CFORising conference, where he criticized the human resources profession for being mostly unable to talk the language of business and help companies build economic value. After his remarks were reported on ...

    By • April 9, 2009
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    CFOs on the Move (Europe): Week Ending April 10

    In July, Emmanuel Babeau will take over as CFO of French electrical equipment maker Schneider Electric. He replaces Pierre Bouchut, who is on his way to retailer Carrefour in May (see previous article). Babeau will join Schneider from drinks group Pernod Ricard. At Pernod Ricard, Gilles Bogaert w...

    By Jason Karaian • April 9, 2009
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    For the Highest Paying CFO Jobs, Go to Europe

    As anger over the perceived excesses of executive pay runs high, this year managers will work harder to earn less. (See “Hard to Get.”) But according to a recently released report by Hewitt Associates, a consultancy, pay packages for CFOs at European blue chips may be able to withstand the downwa...

    By Jason Karaian • April 6, 2009