Human Capital: Page 96

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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
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    Baby Boomer Brain Drain Looms

    Companies may be having a hard time finding qualified young people to fill their junior accounting and finance positions, but that’s nothing compared to the struggles they’ll likely be facing in the next few years at the other end of the age spectrum.The long-dreaded era of Baby Boomer retirement...

    By • May 7, 2008
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    Route Maps

    As a companion to “Finance Factories,” below are the details of CFOs who started out in the civil service, “boomerang” finance executives who did multiple tours of duty at the same company and finance chiefs who took unusual — or unusually long — paths to their current stations.

    By Eila Rana and Jason Karaian • May 7, 2008
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    Aflac Shareholders Have Their Say on Pay

    In the first-ever shareholder vote on a company’s executive compensation, 93 percent of Aflac’s investors said “yes” to the proposed aggregate pay for the five executives named in the insurance firm’s proxy statement.The so-called “Say on Pay” issue was one of the lightning rods of this year’s a...

    By Stephen Taub • May 5, 2008
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    Ad-biz Finance Execs Get Bigger Raises

    The average corporate financial executive received a 4.75-percent salary increase last year, with those in the advertising business emerging with the top boost: 8 percent.Public-company companies slightly outdid their private-company counterparts, drawing 4.96 percent more for the year, according...

    By Stephen Taub • May 5, 2008
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    IMD’s John Wells

    Are MBAs passé? An American export whose teachings have little relevance to the real world of business? Or are they essential qualifications for future business leaders seeking a well-rounded CV? For John Wells, the new president of Swiss business school IMD, the answer is easy. Having studied ph...

    By Eila Rana • May 5, 2008
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    Going Soft

    There are three things that CFOs want from their financial controllers: technical knowledge, good organisational and planning skills, and excellent leadership. But that’s not so easy. One CFO recalls how he quickly realised after arriving at his new firm that he had inherited a controller who tic...

    By Eila Rana • May 5, 2008
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    The Big Freeze

    As companies continue to be battered by credit market turmoil, many are reappraising pay and perks from the boardroom to the back office.Hay Group, a consultancy, recently quizzed more than 1,000 companies in 80 countries about how global financial events were impacting their strategies. More tha...

    By Tim Burke • May 5, 2008
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    Where Are They Now?

    Cees Maas1998: CFO, ING Group2008: RetiredIt’s almost a year since Cees Maas retired as finance chief of ING, a Dutch financial-services firm. Does he miss much about being a CFO? “No,” laughs the 60-year-old immediately. “No, no, no, no!”That’s not to suggest that Maas didn’t enjoy his time runn...

    By Janet Kersnar and Tim Burke • May 5, 2008
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    Finance Factories

    “There is a competitive streak in me,” declares Nick Rose. “I was looking at the top of the pyramid from day one.”That is how the finance chief of Diageo, a £10 billion (€12.6 billion) UK drinks group, describes the conviction that fueled his rise from the junior finance ranks at carmaker Ford in...

    By Jason Karaian and Eila Rana • May 5, 2008
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    In Conclusion

    While this year marks the retirement of several CFOs — Anthony Di Iorio of Deutsche Bank, Phil Hodkinson of HBOS and Paul Rayner of BAT, to name a few — no one is as well placed to help CFO Europe look back at the lessons of the past ten years as Olivier Poupart-Lafarge, the newly retired finance...

    By Janet Kersnar • May 5, 2008
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    Job Losses Slow Down Dramatically

    The jobs picture may not be as bleak as many pundits feared, with total U.S. employment dropping by only 20,000 jobs in April. It was the fourth-straight monthly decline, but experts had expected as many as 85,000 jobs to be lost. In addition, the unemployment rate, which was anticipated to climb...

    By Stephen Taub • May 2, 2008
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    Wanted: Tech-Savvy Accountants

    The days of mere bean counting are long gone for accountants. The profession has always been rather technical, but these days the big firms are looking for signs that up-and-comers not only know numbers, but are fluent in technology too.“Thirty years ago, as a new CPA in public practice with a ‘B...

    By Alan Rappeport • May 1, 2008
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    CFOs on the Move: Week Ending May 2

    • New York-based financial solutions company E-Trade Financial Corp. said its CFO and general counsel will step down on or before May 9. CFO Robert Simmons will be replaced by controller Matthew Audette until a successor is found. The company did not explain the reason for the pair’s departures....

    By Eila Rana and Kate Plourd • May 1, 2008
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    Courting Disaster

    See this year’s 401(k) Buyer’s Guide.Last summer, when a federal judge dismissed a suit brought by employees of John Deere & Co. alleging that they were charged unreasonable and poorly disclosed fees in their 401(k) plans, companies may have been tempted to breathe a sigh of relief. A number ...

    By Russ Banham • May 1, 2008
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    Top 10 Concerns of CFOs

    The many interlocking parts of the current economic downturn add up to one overriding concern for CFOs: weakening consumer demand. For the second consecutive quarter, consumer demand topped the list of CFO worries in the quarterly Duke University/CFO magazine Global Business Outlook Survey. The r...

    By Kate O'Sullivan • May 1, 2008
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    Harvard University’s Elizabeth Mora

    To universities with smaller endowments, overseeing finance at the world’s richest school might seem easy. But Harvard University CFO Elizabeth Mora can tell you it is a juggling act. The 47-year-old CFO advises on a $35 billion endowment, and watches costs on everything from the school’s student...

    By Alan Rappeport • May 1, 2008
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    Making the Pieces Fit

    Soon after David Dreyer joined AMN Healthcare in 2004, he faced a personnel crisis. One of his divisional controllers was isolating himself from the team, not communicating with direct reports effectively, and hampering the productivity of the finance department.“His reaction to really minor thin...

    By Kate Plourd • May 1, 2008
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    Cowboy Up

    Growing up in Beverly Hills, Steve Freed didn’t hang out on tony Rodeo Drive. Instead, the current CFO of Steward Realty Management Co. was drawn to the real thing. “I got very into the western lifestyle,” says Freed, who spent summers teaching horseback riding and competing on the California Jun...

    By Kate Plourd • May 1, 2008
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    For Those about to Rock

    Eight years after Steven Goodwin dreamed of creating the world’s first rock-and-roll theme park, he can finally break out his air guitar. In June, Goodwin will celebrate with the likes of the Moody Blues and the Eagles at the grand opening of the $400 million Hard Rock Park, based in Myrtle Beach...

    By Kate Plourd • May 1, 2008
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    No Flex, Please, We’re Skittish

    Your company may have gone to great lengths to create flexible work arrangements, but that doesn’t mean employees are comfortable with them. In a survey of more than 1,600 workers, Deloitte found plenty of concern that taking advantage of formal programs (such as telecommuting, flex-time, or part...

    By CFO Editorial Staff • May 1, 2008
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    Lawmakers: Workers Use HSAs as Tax Shelters

    Health savings accounts were created on the premise that they would make employees more responsible for their health-care costs and help suppress the rising medical expenses at companies, and in the U.S. overall. However, it turns out that many participants of the high-deductible health plans are...

    By Sarah Johnson • April 30, 2008
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    Global Know-how: The Career Imperative

    On the career track to CFO, there seems no end to the list of events and circumstances that could derail the quest. Increasingly, though, just to board the train you have to be a seasoned traveler already.The idea that international experience makes an up-and-coming finance executive more appeali...

    By • April 28, 2008
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    CFOs on the Move: Week Ending April 25

    • Campbell Soup CFO Robert Schiffner will retire before August 1. Schiffner, who has been with the company since 2001, said he would leave the snack and soup company earlier if the company finds a replacement. • Starting in May, Don Grimes will oversee the finances at Wolverine World Wide Inc.,...

    By Kate Plourd and Eila Rana • April 24, 2008
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    Rare Career Path: CPA, JD, CFO

    The year was 1992. Richard Ramos, age 30, already had survived more than eight years of long days at KPMG, but with the partnership track lengthening at public accounting firms at that time, the payoff still seemed further off than he cared for.Jumping to a different firm might have helped him re...

    By • April 23, 2008