Human Capital: Page 82

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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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    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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    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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    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
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    GM’s Henderson Takes Wheel from Wagoner

    Frederick “Fritz” Henderson gave up the second-toughest job at General Motors Corp. for the toughest — as the Obama administration asked that CEO Rick Wagoner step down, and former CFO Henderson got the nod.The change at the driver’s seat at GM came amid elevated talk of potential bankruptcy in t...

    By Marie Leone and Roy Harris • March 30, 2009
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    Return of the Job Cuts

    After six weeks of steady declines in the pace of large layoff announcements, last week brought a reversal of the trend, with some of the biggest names in business paring their workforces.IBM, which earns roughly $1 billion in profits every month, confirmed earlier media reports that it plans to ...

    By Stephen Taub • March 27, 2009
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    CFOs on the Move (Europe): Week Ending March 27

    Thomas Eichelmann unexpectedly quit the CFO post at Deutsche Börse, the stock exchange operator, after only two years. The company explained his departure as due to “partial differences concerning individual business aspects.” CEO Reto Francioni will take over Eichelmann’s financial duties until ...

    By Jason Karaian • March 27, 2009
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    Leadership in Finance: Baseball’s Jonathan Mariner

    To invoke the name of a 1949 baseball movie: it happens every spring. Well, two things actually happen, observes Jonathan Mariner, the executive vice president of finance for Major League Baseball: one glorious for the game, and the other not so hot.Looking out at the potentially dire effects of ...

    By David Katz • March 26, 2009
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    Diebold Probe Costs CFO His Job

    Diebold Inc. said CFO Kevin J. Krakora, who also is an executive vice president, resigned after receiving a Wells notice from the Securities and Exchange Commission. It said the notice was in connection with a previously disclosed investigation of the company.In addition, its prior finance chief ...

    By Stephen Taub • March 25, 2009
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    Over 50, Out of Work, Open to Change

    Kenneth Zuerblis, the former CFO of ImClone Systems, just turned 50 and is out of work — and he could not care less. If his unemployment lasts for four years, he says, he won’t be bothered at all.Such a carefree attitude is a luxury that many other “in transition” finance executives in their 50s ...

    By • March 24, 2009
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    Almost All Is Quiet on the Layoff Front

    Only one U.S. company announced a four-figure layoff count last week, and the Labor Department reported that new jobless claims fell more than expected the week before. Could it be the beginning of the end of the employment plunge?It may be too early to say that: continuing unemployment claims se...

    By Stephen Taub • March 20, 2009
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    Citi Elevates CFO Crittenden

    Citigroup has named chief financial officer Gary Crittenden to the newly created role of chairman of Citi Holdings. In addition, Edward “Ned” Kelly, previously the head of Citi’s global banking unit, will assume the role of chief financial officer.Crittenden will work with Mike Corbat, the interi...

    By Stephen Taub • March 20, 2009
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    CFOs on the Move (Europe): Week Ending March 20

    Carrefour, a French retail giant, welcomes Pierre Bouchut as its new CFO in May. He replaces Eric Reiss, who will move to Brazil to take control of the region’s hypermarkets division. Bouchut joins from industrial group Schneider-Electric, and he also served previously as both CFO and CEO at Casi...

    By Jason Karaian • March 20, 2009
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    CFOs on the Move: Week Ending March 20

    Insurance claims processing software provider Solera Holdings has named Dudley Mendenhall as its CFO. Mendenhall most recently headed finance for Websense, Inc. At Solera he replaces Jack Pearlstein, who will remain in a consulting role through the current fiscal year.Meanwhile, Websense, a Web g...

    By Kate Plourd • March 19, 2009
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    How to Use Headhunters and Find Finance Jobs

     Going through executive recruiters may not be the only path to a top position. But you can’t afford not to make them part of your network, if there’s a chance you might, within the next year or two, find yourself entering the phase euphemistically known as a “transition.” Unfortunately, there’s ...

    By • March 18, 2009
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    A Sudden Swoon for Executive Comp

    With the public growing more ornery by the day over the compensation of corporate executives, companies in droves are acting with great speed to add restrictions and limitations to their pay policies, according to a new Watson Wyatt survey.As portrayed by the research results, the changes are sud...

    By • March 17, 2009
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    Layoffs Could Trigger COBRA Cash Crunch

    Companies that have laid off workers in the past several months as a way to retain more cash may, paradoxically, suffer a near-term cash drain as a direct result of the layoffs.Under the stimulus package signed into law on February 17, the government will pick up the tab for 65 percent of COBRA c...

    By • March 13, 2009
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    United Technologies Leads Layoff Parade

    The pace of large layoff announcements increased last week after having slowed down for the previous four weeks.By far the largest reduction was by United Technologies Corp., which said it will eliminate 11,600 jobs as part of a wider global restructuring. The conglomerate, best known as the make...

    By Stephen Taub • March 13, 2009
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    CFOs On The Move (Europe): Week Ending March 13

    Royal Dutch Shell named Simon Henry as its next CFO, succeeding Peter Voser who is set to become the oil giant’s chief executive in July. Henry is currently executive vice president finance in Shell’s core oil and gas production division.Sanofi-Aventis has appointed Jérôme Contamine as CFO, who t...

    By John Zhu • March 13, 2009
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    CFOs on the Move: Week Ending March 13

    Royal Dutch Shell has promoted Simon Henry to CFO. He has been executive vice president of finance for Shell International Exploration and Production. Henry replaces Peter Voser, who will become CEO in July. Henry has worked for Shell since 1982, starting as an engineer at a refinery. Giuseppe “J...

    By Kate Plourd • March 12, 2009
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    Reality Check for Young Finance Pros

    (Click here to view video of this and all other available presentations from the latest CFO Rising conference.)The expectations of entry-level corporate finance and accounting professionals have taken a dive right along with the economy, say speakers at the CFO Rising conference in Orlando.In a f...

    By • March 11, 2009