Human Capital: Page 91

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    CFOs on the Move: Week Ending September 26

    • Sallie Krawcheck, the head of Citigroup’s Global Wealth Management operation and the company’s former CFO, is the latest of many senior-level departures from Citi. She was said to be leaving to pursue other opportunities. • The online brokerage E-Trade has named former Pitney Bowes CFO Bruce ...

    By Gabor Taroczy and Kate Plourd • Sept. 25, 2008
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    Bailout Hinges on Exec Comp Accord

    How the executives of financial services firms that take part in any government bailout are paid is hardly the most important element of the legislation Congress is fast-tracking this week. But given the issue’s political clout, it’s looking almost certain that legislators will have to come to so...

    By • Sept. 24, 2008
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    Citi Says So Long to Sallie

    Former prominent Citigroup CFO Sallie Krawcheck, the bank’s head of Global Wealth Management, is leaving the company in the latest of many departures of high-ranking Citi executives. Krawcheck was CFO of Citigroup from 2004 to 2007. In 2007 she left her position to take over the bank’s Wealth Man...

    By Kate Plourd • Sept. 22, 2008
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    Options: Swimming Under Water

    The extreme volatility in the stock market likely will nudge some companies toward further reducing the weight of stock options in their compensation portfolios for senior executives.Once virtually the sole compensation tool for motivating performance, options already had declined in importance o...

    By • Sept. 19, 2008
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    CFOs on the Move: Week Ending September 19

    Denver-based telecom company Qwest Communications hired the former finance chief of XM Satellite Radio to as its CFO.The appointment of Joseph Euteneuer, 53, is the latest move in Qwest’s executive reshuffling, engineered by CEO Ed Mueller, who took the reins in August 2007. Euteneuer replaces J...

    By Kate Plourd and Gabor Taroczy • Sept. 18, 2008
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    Where Will All the Bankers Go?

    The tidal wave of bad finance news is freezing credit availability and battering investment portfolios, but a more human toll is almost certain to follow.In the financial services sector, which already has pared more than a quarter-million jobs since the beginning of 2007, new rivers of displaced...

    By • Sept. 17, 2008
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    New AIG Chief Liddy Has Finance in His Blood

    In choosing Edward Liddy as the new CEO of American International Group, federal regulators once again show a partiality in a crisis for leaders with strong finance backgrounds. Liddy, most recently with private equity giant Clayton, Dubilier and Rice Inc., first established his reputation as fin...

    By Stephen Taub • Sept. 17, 2008
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    Quest Axes CFO It Had Put on Leave

    The CFO who was put on leave last month by Quest Resource Corp. and two related master limited partnerships — Quest Energy Partners L.P. and Quest Midstream Partners L.P — has now been fired. David Grose was “terminated,” the company said, noting that an investigation of questionable transfers of...

    By Stephen Taub • Sept. 16, 2008
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    Qwest Dials Up Former XM Finance Chief

    Qwest Communications International hired the former finance chief of XM Satellite Radio to serve as CFO of the Denver-based telecom company.The appointment of 53-year-old Joseph J. Euteneuer is the latest move in Qwest’s executive reshuffling, engineered by Qwest CEO Ed Mueller, who took the rein...

    By Kate Plourd • Sept. 15, 2008
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    WaMu CEO Brings in Old Finance Friend

    Washington Mutual’s new chief executive officer, Alan Fishman, has brought in a finance expert he has been working with since the beginning of the decade to help him manage the struggling savings and loan.According to The Wall Street Journal, WaMu has tapped Frank Baier to serve as special assist...

    By Stephen Taub • Sept. 12, 2008
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    GAO to PBGC: What’s Happening?

    With 53 days left before voters decide who will be the next President of the United States, the Pension Benefit Guaranty Corp., like other government agencies, is already preparing for the change to new leadership.To ensure smooth sailing for the PBGC’s new governing board that will come with Jan...

    By Kate Plourd • Sept. 12, 2008
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    CFOs on the Move: Week Ending September 12

    On September 15, Peter Hamilton will once again become CFO of Brunswick Corporation, replacing Peter Leemputte, who is leaving to be finance chief at Mead Johnson Nutritionals. Hamilton previously ran finance at Brunswick from 1995 to 2000 before moving to operations side, where he served as pres...

    By Kate Plourd and Gabor Taroczy • Sept. 11, 2008
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    Work-life: A Bottom-line Boon?

    While programs offering work-life flexibility for employees have been a staple of public accounting firms’ recruiting and retention efforts, other companies could learn from their example — and not just to shore up their staff. The bottom line may benefit, too.That, at least, is the conclusion of...

    By • Sept. 11, 2008
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    Report: Double-Digit Spikes in Health Costs

    A new survey on future health-care costs projects double-digit rate increases for the most popular types of health-care coverage through the remainder of 2008 and into 2009. This study, by human-resources firm Buck Consultants, analyzed responses from 79 health insurers, HMOs, and third-party adm...

    By Stephen Taub • Sept. 11, 2008
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    Mandated Paid Leave Coming to Washington, D.C.

    Following the lead of San Francisco, the council of Washington D.C. will require most employers on November 13 to provide paid sick leave to eligible employees working in the district. Under the Accrued Sick and Safe Leave Act of 2008, which was passed by the council in March, employers must pay ...

    By Stephen Taub • Sept. 9, 2008
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    A Mom’s Hard Career Choice

    For a woman in finance, dreams of one day being a CFO can go “poof” when the real-life demands of motherhood dawn. Some women see an unhappy choice: continue climbing the ladder, or be a good mom.Diana Truss was 43, and loving her professional life as a controller for a $30 million machine-tools ...

    By • Sept. 9, 2008
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    Wachovia Names Zwiener as CFO

    Wachovia reached outside its corporate offices to tap David K. Zwiener as its new chief financial officer. Zwiener, who has more than 30 years of experience in the financial services industry, was most recently managing director and co-head of the Financial Institutions Group at The Carlyle Group...

    By Stephen Taub • Sept. 9, 2008
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    IFRS May Prompt Revamp of Pay Plans

    Companies that adopt international financial reporting standards will need to reexamine their compensation and employee benefit plans. The switchover from U.S. generally accepted accounting principles to IFRS will not only translate into tweaks regarding how companies account for such programs — ...

    By Sarah Johnson • Sept. 8, 2008
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    False Options

    HOW executives are rewarded is one of the many mysteries of China’s increasingly powerful companies. Unravelling it is important, not least because it should help to explain corporate China’s transformation from a state-controlled to a consumer-driven creature. Research on this question has been ...

    By Economist Staff • Sept. 5, 2008
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    CFO in Focus: The Company Man

    Steven Fradkin never dreamed of becoming a CFO. The finance chief of Northern Trust, a Chicago-based bank, skipped accounting and finance in college and instead indulged in the liberal arts. But from his perspective, it was the very lack of a careerist mentality that helped him climb the corporat...

    By Alan Rappeport • Sept. 5, 2008
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    CFOs on the Move: Week Ending September 5

    Levi-Strauss & Co. CFO Hans Ploos van Amstel announced he would resign to pursue other opportunities. The jeans maker’s controller, Heidi Manes, will take over the position temporarily. Van Amstel, who arrived at the company in 2003 and has been CFO since 2005, will remain as a consultant for...

    By Kate Plourd and Gabor Taroczy • Sept. 4, 2008
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    Health Benefit Cost Hike Is a Drop

    As expected, health benefits costs are predicted to rise next year. However, the increase is estimated to be lower than it has been in a decade, according to a preliminary look at Mercer’s annual survey.According to the benefits consulting company, early survey results indicate that cost growth i...

    By Stephen Taub • Sept. 4, 2008
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    9 Things to Ask Your Future Boss, the CEO

    How to find that great next CFO job? Here is one tactic that you might overlook but should not: Interview your future boss, the CEO, as if he or she were the job applicant, not you.Because when it comes to your career, knowing as much as possible up front about the company and person you might wo...

    By Marshall Krantz • Sept. 4, 2008
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    Snakes & Ladders

    Can a demotion ever be a good thing for an ambitious C-level executive? Anka Reijnen is about to find out. More than a few eyebrows were raised when she announced in the summer that she will step down as CEO of Dutch property firm Nieuwe Steen Investments (NSI) and become its CFO this month.Reijn...

    By Eila Rana • Sept. 3, 2008
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    Expect Another Q4 Finance Hiring Spurt

    For the third straight year, you can expect a fourth-quarter spurt in the hiring of accounting and finance employees in the U.S.Ten percent of CFOs say they plan to expand the size of their teams in the final three-month period, according to the latest survey by employment firm Robert Half Intern...

    By Stephen Taub • Sept. 3, 2008