Human Capital: Page 95

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    From Wall Street to Main Street

    Does a CFO’s office befit someone who drives a Bugatti Veyron, drinks Dom Pérignon champagne, and smokes $400 cigars?Some companies may soon find out. More than 50,000 investment bankers could be pruned from Wall Street firms in 2008, as many as 7,000 from Bear Stearns alone. And it’s more than l...

    By • June 1, 2008
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    Secrets of Their Success

    Things were going very well for Christa Davies. She’d been recently promoted to a plum divisional-CFO post at Microsoft, charged with everything from integrating the company’s largest-ever acquisition to helping it battle Google in the fast-growing search and online advertising markets. And she h...

    By Alix Stuart • June 1, 2008
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    The Pause That Refreshes

    June brings with it thoughts of summer vacation, and David Hayob is unlikely to forget the one he took last year. First he traveled from his home in Houston to the East Coast with his sons, visiting four cities and attending six baseball games and three Broadway plays. Then he returned to Texas b...

    By Kate O'Sullivan • June 1, 2008
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    Microsoft’s Chris Liddell

    It has been, to say the least, an interesting year so far for Microsoft Corp. Even as the company was rebuffed by Yahoo (ultimately abandoning its months-long effort to buy the online giant in May) its newest operating system, Vista, faced a curious rebuff of its own, panned by critics and consum...

    By Scott Leibs • June 1, 2008
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    Going Public

    When must a private company make its internal records available? That’s a question digital-disk manufacturer BlueRay Technologies is facing — in court.The person asking that question is the company’s former CFO, Yelena Simonyan. She filed suit against the company, which replicates and packages di...

    By Kate Plourd • June 1, 2008
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    Still Searching

    When Google’s CFO, George Reyes, announced his retirement last August, the company expected to fill his shoes by year-end. Reyes is still there, however, and the company synonymous with Web search — not to mention online advertising, satellite imaging, a growing family of Web-based applications, ...

    By Kate Plourd • June 1, 2008
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    CFO Pay Raises Top CEO Hikes

    Median CFO pay increased by 5.2 percent in 2007, to $2,894,275 from the prior year’s $2,752,027, according to a new Equilar study of Standard & Poor’s 500 companies.The executive compensation specialist noted that median total equity compensation actually jumped 8.2 percent, while median bonu...

    By Stephen Taub • May 29, 2008
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    How to Get to the Top

    Marketing used to be the route to the chief executive’s chair, but the world has changed. Now, says Monika Hamori, professor of human resources at Instituto de Empresa in Madrid, it is finance chiefs who are most likely to get the top job, though experience in operations—running parts of the comp...

    By Economist Staff • May 29, 2008
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    CFOs on the Move: Week Ending May 30

    • The CFO of clothing retailer American Apparel, Ken Cieply, resigned weeks after the company’s CEO referred to him as a “complete loser” in an interview with The Wall Street Journal. He left “to pursue other opportunities,” the company said. He had been finance chief since June 2006 and took the...

    By Kate Plourd • May 29, 2008
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    CFOs Earn Low Marks as Class Instructors

    Delivering lectures to a business-school class may sound easy compared to, say, preparing for a sensitive earnings call or improving a sagging division’s ROI. But professors who regularly bring in corporate executives to speak to students say finance chiefs often have a tough time being understoo...

    By Roy Harris • May 28, 2008
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    BNY Mellon Reshuffles, Names Gibbons CFO

    Bank of New York Mellon named Thomas P. (Todd) Gibbons to become CFO, succeeding vice chairman and finance chief Bruce Van Saun, who plans to leave the company after a transition period to pursue new opportunities.Gibbons is currently the company’s chief risk officer, the position he held at Bank...

    By Stephen Taub • May 27, 2008
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    Bringing the Discipline of Finance to HR

    Rather than work their way up through the ranks of finance, a small but growing number of finance professionals is taking a career road less traveled — the one that runs through human resources.The desire by senior managers to gain a competitive edge in the tough, global business environment is d...

    By Marshall Krantz • May 23, 2008
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    To Keep Key Staff, Act Like a Grandparent

    Is there anything quite like the love of a grandparent to make a young person feel warm, happy, and secure? Why, no. But what, you may ask, does that have to do with corporate finance?It’s this: for corporate finance departments — currently besieged by the twin demographic demons of looming baby...

    By • May 23, 2008
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    CFOs on the Move: Week Ending May 23

    • Longtime General Electric executive Brian Gladden will replace Don Carty as finance chief for computer maker Dell Inc. Carty will resign June 13 after just a after a year and a half on the job. Gladden most recently was president and CEO of SABIC Innovative Plastics Holding BV, formerly GE Pla...

    By Kate Plourd and Eila Rana • May 22, 2008
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    The Spies Who Come In with the Gold?

    As America’s director of national intelligence, Mike McConnell is seeking to use corporate pay-for-performance methods to help attract candidates to the burgeoning intelligence community — whose members are found across 16 federal agencies. He comes by the approach naturally, from the 11 years he...

    By Kate Plourd • May 21, 2008
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    Wal-Mart’s Michael Fung: Why Internal Auditors Make Good CFOs

    CFO.com was researching an article on the evolving role of internal auditors when an opportunity arose to interview Michael Fung, who since 2006 has been senior vice president of finance for Wal-Mart Stores and CFO of the company’s U.S. Wal-Mart-branded stores. He credits a mid-career detour int...

    By • May 20, 2008
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    For CFO, Dell Taps GE Veteran Gladden

    Dell Inc. named General Electric Co. veteran Brian Gladden as Dell senior vice president and CFO effective June 13, replacing Donald Carty, who resigned.Carty, a 16-year Dell director, will remain on the board. He is probably best known for his five-year stint as chairman and CEO of American Airl...

    By Stephen Taub • May 19, 2008
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    CFOs on the Move: Week Ending May 16

    • MGM Studios has hired the former CFO of Gemstar-TV Guide International, Bedi Singh, as its finance chief. Singh also takes on the newly created position of president of finance and administration. In that role he is responsible for all financial activities, including the studio’s relationship ...

    By Kate Plourd and Eila Rana • May 15, 2008
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    Private Equity Paints “Help Wanted” Sign

    Despite the recent steep decline in private-equity deals, the job market for CFOs at portfolio companies promises to brighten later this year.A possible easing of the credit crunch could provide more funding for private-equity acquisitions, resulting in top-management shake-ups at many newly acqu...

    By Marshall Krantz • May 13, 2008
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    CFO of All Trades

    Sometimes, if Fred Haupt does his job right, a CEO will tell him he needs to be replaced — and that he’ll be the one who has to track down his successor. Most finance chiefs would cringe at such a directive. But for Haupt, who makes a living by giving small and midsize private companies financial...

    By Sarah Johnson • May 12, 2008
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    New Finance Chief for SocGen

    Didier Valet will take on the CFO position at Société Générale, the French bank that was hit with a $7.5 billion loss this January from rogue deals made by junior trader Jérôme Kerviel.Valet, 40, replaces former CFO Frédéric Oudéa, who was promoted to deputy chief executive of France’s second-lar...

    By Kate Plourd • May 9, 2008
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    Global Leaders

    By Eila Rana • May 9, 2008
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    “In the Money” or “at the Money”?

    The Securities and Exchange Commission and Marvell Technology Group and its co-founder settled SEC charges that the company and the executive had reported false financial information to investors via backdating employee stock-option grants.Without admitting or denying the allegations, Marvell agr...

    By Stephen Taub • May 8, 2008
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    Accounting Grads Flood the Job Market

    Accountants may not be the big men on campus yet, but they’re getting there. A new survey on the supply of accounting graduates — and the demand for public accounting recruits — says that more than 64,000 students graduated with bachelor’s or master’s degrees in accounting during the 2006-2007 sc...

    By Marie Leone • May 8, 2008
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    CFOs on the Move: Week Ending May 9

    • Sprint Nextel named Robert Brust to replace Paul Saleh, who left the company in January with two other executives. In 2007, Brust retired from Eastman Kodak Co., where he served as finance chief and executive vice president for six years. He was also previously CFO at Unisys Corp. • John Leahy ...

    By Eila Rana and Kate Plourd • May 8, 2008