Human Capital: Page 82

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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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    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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    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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    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
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    CFOs on the Move (Europe): Week Ending April 3

    Osram, a German lighting manufacturer owned by conglomerate Siemens, appointed Thomas Schaffer as its new CFO. A career Siemens employee, Schaffer most recently served as a senior finance executive in the group’s healthcare division. He replaces Johannes Närger, who is now CFO for the home applia...

    By Jason Karaian • April 3, 2009
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    Yahoo Europe’s Emmanuel Frantz

    As Yahoo says hello to its new CEO Carol Bartz, former chief executive of software house Autodesk, and goodbye to Blake Jorgensen, group CFO since 2007, the finance team at the $7.2 billion (€5.3 billion) US internet service company must not miss a beat. Amid those internal changes, the economic ...

    By Janet Kersnar • April 2, 2009
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    Leadership in Finance: NetApp’s Steve Gomo

    For NetApp Inc., it was a bittersweet, ironic juxtaposition of events. On January 22, Fortune magazine rated the $3.3 billion data storage and management supplier as the best company to work for in the United States. Eighteen days later, the company announced plans to lay off about 6% of its 8,00...

    By • April 2, 2009
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    Hard to Get

    Last month, Jan Hommen made a “moral appeal” to senior staff at his firm to pay back the bonuses they received a few weeks earlier, such was the public anger about payouts at ING, the Dutch bank that’s been propped up by a government bailout. The tipping point, it turns out, was a 100,000-share a...

    By Jason Karaian • April 2, 2009
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    Recession? I’m Lovin’ It

    “I am taking over the job at a successful company,” Jérôme Tafani says. “You have to think hard before changing a strategy that is winning.” Few finance chiefs starting new jobs this year can expect to be so relaxed. But as Tafani settles in to the CFO post for McDonald’s  Europe, he finds the Am...

    By Jason Karaian • April 2, 2009
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    401(k)risis

    See this year’s 401(k) Buyer’s Guide.Soon after Section 401(k) of the Internal Revenue Code took effect in 1980, it morphed from an obscure investment option into the goose that laid the golden nest egg.Has that goose been cooked?The value of the equities held in defined-contribution plans has de...

    By Lynn Brenner • April 1, 2009
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    “What We Do Is Life or Death.”

    Ever wonder how the Army, Navy, Air Force, and Marine Corps get the essential supplies they need to do their jobs — food, fuel, medical supplies, uniforms, repair parts, and more? Tony Poleo knows. As CFO of the Defense Department’s Defense Logistics Agency (DLA), the 47-year-old Poleo runs the f...

    By Lori Calabro • April 1, 2009
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    Leadership in Finance: Fortinet’s Ken Goldman

    If the economy caught your company overburdened with debt or short of cash, then Ken Goldman’s financial advice is probably not going to help you. Good financial leadership, says the CFO of network security provider Fortinet, “starts with what you do when times are good.”In his long finance caree...

    By Tim Reason • March 31, 2009