Human Capital: Page 81

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    Prescription for Progress?

    Capitol Hill will be steamier than usual this summer as lawmakers press ahead on health-care reform. House and Senate leaders have pledged to have legislation on the table by late July, and President Barack Obama has urged both houses to make that deadline. “We’ve got to get it done this year,” O...

    By Alix Stuart • June 1, 2009
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    Leadership in Finance: ICAEW’s Carolyn Bresh

    “I was young and didn’t know any better. I said, ‘I’ll go and do it.'” Thus, in 1993, a 26-year-old Carolyn Bresh boarded a plane from London to New York with five days’ notice to become acting US CFO of Blenheim Exhibitions, an events company where she had been group accountant.With no local fin...

    By Tim Burke • June 1, 2009
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    “I Should Have Said No.”

    At 66, Aaron Beam is getting on with his life. Six years ago Beam made headlines by admitting that he cooked the books at HealthSouth Corp., the Birmingham, Alabama-based provider of inpatient and outpatient rehabilitation services that he co-founded. The four men who succeeded Beam as finance ch...

    By Edward Teach • June 1, 2009
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    Fray on Pay

    When it comes to the public outcry over executive compensation, the sounds of protest may have faded but the fury lives on. Bands of placard-carrying citizens have disappeared from lower Manhattan, but efforts to rein in what many perceive as outrageous paydays are, if anything, intensifying. Fro...

    By Russ Banham • June 1, 2009
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    CFOs on the Move: Week Ending May 29

    Health-service company CIGNA Corp. has promoted Annmarie Hagan to executive vice president and CFO. She succeeds Michael Bell, who is resigning after 25 years with the company. Hagan, who became chief accounting officer at CIGNA in 2001, added the title of controller last year.Matthew Appel is th...

    By Joan Urdang • May 28, 2009
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    European Compensation Crackdown Seen

    The European Commission is gearing up to mandate compensation restrictions for financial institutions and all companies listed on stock exchanges in the European Union, if member states do not voluntarily implement recommendations that the EC issued on April 30.That would be near-anathema to the ...

    By • May 27, 2009
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    CFOs on the Move: Week Ending May 22

    Deb Thomas, senior vice president and head of corporate finance at Hasbro Inc., has been promoted to CFO. She has been at the company since 1998; before that she worked at KPMG Peat Marwick.Executive recruiter Korn/Ferry International announced the appointment of Michael DiGregorio as executive v...

    By Joan Urdang • May 21, 2009
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    CFOs on the Move (Europe): Week Ending May 22

    Dutch telecoms group KPN announced that Marcel Smits, CFO since 2004, will leave the company by the end of the year. He “expressed the desire to pursue his career in a more internationally-oriented environment,” the company said in a statement. Before a permanent replacement is found, controller ...

    By Jason Karaian • May 21, 2009
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    Obama Picks Top Treasury Finance Posts

    President Obama has chosen Daniel Tangherlini, deputy mayor of Washington, D.C. and former CFO of the District’s police department, to oversee the finances of the U.S. Treasury Department.If approved by the Senate, Tangherlini will be in charge of the department’s budget and oversee various progr...

    By Sarah Johnson • May 18, 2009
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    CFOs on the Move (Europe): Week Ending May 15

    Novartis, a Swiss pharmaceuticals group, has poached Jonathan Symonds, a managing director at investment bank Goldman Sachs, to become its new deputy CFO and CFO designate. Symonds, a former CFO at AstraZeneca, will join Novartis in September, initially reporting to finance chief Raymund Breu, wh...

    By Tim Burke • May 15, 2009
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    Probe of Ex-Pension Chief Spotlights Shift to Stocks

    An investigation into the contacts between the former director of the Pension Benefit Guaranty Corp. and Goldman Sachs, J.P. Morgan, and BlackRock may pose new questions about a big shift in PBGC investing policy from Treasury bonds to stocks, real estate, and private equity.On Thursday the PBGC’...

    By David Katz • May 15, 2009
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    Leadership in Finance: Triple-S Management’s Juan Jose Román

    Juan Jose Román, the finance chief of Triple-S Management Corp., has been steeped in the insurance business since he was an auditor working in KPMG’s San Juan, Puerto Rico office in the late 1980s. While with the Big Four firm, Román specialized in audits of insurance industry clients. Then in 19...

    By Marie Leone • May 14, 2009
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    CFOs on the Move: Week Ending May 15

    Allen Hsieh has been appointed vice president and CFO of Flow International Corp., an industrial water-jet machine developer and manufacturer. Hsieh joined the company in December 2008, when he was named interim CFO.Security firm The Brink’s Co. has named Joseph Dziedzic as its new vice president...

    By Joan Urdang • May 14, 2009
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    Leadership in Finance: Telemundo’s Javier Maynulet

    He’s too young to qualify yet as a “lifer,” but since graduating from Boston College in 1996, Javier Maynulet has known only one employer: General Electric. Already in his second CFO job within the company at age 35, he finds himself a central player in a business that wields the potential for ex...

    By • May 11, 2009
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    Free At Last

    “I had been on the corporate ladder for a while. I wanted more variety in life.” And thus, ten years ago, John Stallabrass left his life as a finance director at listed companies for the more exciting, uncertain existence of an interim manager. He will probably keep at it for ten more. “I’m still...

    By Jason Karaian • May 11, 2009
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    Kuehne + Nagel International’s Gerard van Kesteren

    As with so many companies, the fourth quarter of last year was a turning point for Kuehne Nagel, one of the world’s largest logistics groups. “It’s as if someone pulled a switch and, all of a sudden, nothing moved,” recalls CFO Gerard van Kesteren. Unlike other companies, however, the SFr22 billi...

    By Janet Kersnar • May 11, 2009
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    CFOs on the Move (Europe): Week Ending May 8

    Guy Whittaker will step down as finance chief of the part-nationalised Royal Bank of Scotland later this year. The bank expects a successor to be appointed by October. Stephen Hester, who joined the bank as chief executive in November 2008 following the resignation of Sir Fred Goodwin, said Whitt...

    By Tim Burke • May 8, 2009
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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