Human Capital: Page 96

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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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    Global Leaders

    By Eila Rana • May 9, 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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    Whistle-blowback

    Women whistle-blowers drew much acclaim earlier this decade. Enron, WorldCom, and even the FBI were exposed by fearless females who had seen enough and called out their bosses.In the wake of those scandals, some even concluded that women might be intrinsically more ethical than men and lionized t...

    By Alan Rappeport • May 8, 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
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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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    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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    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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    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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    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