Human Capital: Page 97

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    Companies Give “Web Search” a New Meaning

    The growth of social-networking Web sites makes it easier for job-seekers of all ages to find jobs. But new technology is also making it easier for companies — as well as individuals — to vet each other.From Facebook to LinkedIn, social networking has become professional networking, making it eas...

    By Alan Rappeport • April 21, 2008
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    Ford Taps CFO as Jaguar’s Top Cat

    Ford Motor Co. named David Smith, Jaguar Land Rover’s chief financial officer, to be acting chief executive officer at Jaguar Land Rover.He succeeds Geoff Polites, who died over the weekend in his home country of Australia at the age of 60. Smith, a 25-year Ford veteran, will hold the top positio...

    By Stephen Taub • April 21, 2008
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    Big Pensions Slash Stock Investments

    Instead of trying to gobble up big gains on the stock market, increasing numbers of the corporate sponsors of traditional pension plans are adopting a lower-risk strategy of only going for returns that match the plans’ liabilities, according to a recently released study of pension funding.For yea...

    By David Katz • April 18, 2008
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    CFOs on the Move: Week Ending April 18

    • Tito Lima has returned to his position as CFO of First National Bank, after serving three years as CFO of Sterling Financial Corp. He will also serve as FNB’s treasurer. He has been in the finance industry for 23 years. • CPI Corp.’s finance chief, Gary Douglass, was named president and CEO ...

    By Laura Cameron and Kate Plourd • April 17, 2008
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    The Cure for Burnout: Go Nonprofit

    Three years ago, Usha Chaudhary was deep in the doldrums. After 20 years at the same company, she was working about 80 hours a week, and she needed a change. In less than month of job searching, she received an offer from the United Way of America to become the nonprofit’s CFO. Soon, her finance ...

    By Sarah Johnson • April 17, 2008
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    Study: Bleak January Wiped Out 2007 Pension Gains

    With the stock market falling off a cliff in January, 100 of the biggest U.S. companies saw their defined-benefit pension plans lose more than a full year of 2007 gains in January 2008 alone, according to an annual pension study done by Milliman, a pension actuarial firm. But costs related to the...

    By David Katz • April 16, 2008
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    Easing the Retention: Takeda Pays Merger Bonuses

    Takeda Pharmaceutical Co. is putting its money where its mouth is in its proposed $7.56 billion cash acquisition of Millennium Pharmaceuticals. When the Japanese drug company last week announced it would acquire Millennium, Takeda president Yasuchika Hasegawa said in a press release: “Millennium ...

    By Stephen Taub • April 15, 2008
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    What’s Missing in Controller Education?

    The subject was Bear Stearns. The audience was controllers and aspiring controllers.Out by Chicago’s O’Hare Airport at the American Management Association Center, a dozen of them — from lines of business including healthcare, retailing, banking, and the garment industry — were engaged with vetera...

    By Roy Harris • April 15, 2008
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    Obama Pushes Say on Pay

    With compensation for corporate executives gaining status as a Presidential campaign issue, Sen. Barack Obama has come out with an endorsement of Say on Pay, the hot governance issue of the current proxy season that would allow shareholders to approve pay packages for the most senior executives.I...

    By Stephen Taub • April 11, 2008
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    Restating: The Career Killer

    In February Kevin Krakora, finance chief of Diebold, a maker of security systems and voting machines, found out he would receive no bonus, stock awards, or merit-based salary increase. The company had been forced to restate its results and revise its revenue-recognition policies after an investig...

    By Alan Rappeport • April 11, 2008
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    Obesity Weighs on Bottom Line

    The rising rate of obesity in the United States is significantly trimming corporate profits, according to a new study from The Conference Board.Obese employees are said to cost private employers an estimated $45 billion annually in medical expenditures and work loss. “Employers need to realize t...

    By Stephen Taub • April 10, 2008
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    CFOs on the Move: Week Ending April 11

    • Qwest Communications CFO John Richardson will leave his post after just a year, becoming the latest executive to depart under Ed Mueller, the firm’s new chief executive, who joined last August. Richardson will stay on until a replacement is found. • VeriSign has announced that its CFO, Albert...

    By Kate Plourd and Laura Cameron • April 10, 2008
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    Breaking from the Bank

    Does a CFO’s office befit someone who drives a Buggati Veyron or Mercedes-Benz SLR McLaren and smokes $400 cigars?More than 50,000 employees could be culled from Wall Street firms in 2008, as many as 7,000 from investment bank Bear Stearns alone. And it’s more than a little bit likely that some o...

    By • April 10, 2008
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    Perfomance-Pay Disclosure: Is the Honeymoon Over?

    Will companies that play fast and loose with the Securities and Exchange Commission’s rules for disclosing executive pay begin to feel the lash of the SEC this year?Indeed, there’s evidence that some employers may be feeling the pressure already. Proxy season is here, and this year more companies...

    By • April 9, 2008
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    CFO Climbs into Vice Chair Spot

    Mark C. Biderman, executive vice president and chief financial officer of National Financial Partners Corp., has been promoted to the newly created position of vice chairman. As a result, the company, which announced a series of promotions and management changes, has launched a search for a new C...

    By Stephen Taub • April 8, 2008
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    Areva’s Alain-Pierre Raynaud

    When a company gets caught up in drawn-out merger manoeuvres, it’s often tempting for their CFOs to put growth and investment plans on hold until the deal is sealed. Not so for Alain-Pierre Raynaud, CFO of Areva, France’s €12 billion state-owned nuclear energy company. The proposal to merge Areva...

    By Eila Rana • April 7, 2008
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    Qwest CFO Hangs It Up

    Qwest Communications CFO John Richardson will leave his post after just a year, becoming the latest executive to depart under Ed Mueller, the firm’s new chief executive who joined last August.Richardson, 63, will stay on until a replacement is found, the company said Friday. “We believe that, in ...

    By Alan Rappeport • April 7, 2008
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    Fall Guys

    Ever had to dodge the crossfire between a CEO and chairman? If not, the case of John Williamson, finance chief of Payzone — a company borne out of a reverse takeover in December last year of UK ATM operator Cardpoint by Alphyra, an Irish e-payments group — will shed some light. Since he left the ...

    By Laura Cameron • April 7, 2008
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    Constructive Confrontation

    From the safe haven of retirement, Bob Bennett, former finance director of Northern Rock, recently admitted that there were tensions between him and then CEO Adam Applegarth during the six years they worked together at the UK bank.Bennett, who retired in January 2007, told UK media this February ...

    By Eila Rana • April 7, 2008
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    Rooms to Grow

    When travelling to Moscow on business, be sure to make full use of the hotel concierge. In fact, with the price of a hotel room in the Russian capital approaching €350 a night, on average, take advantage of every amenity that you can.Hotel rates in Moscow have risen 93% since 2004, making it the ...

    By Laura Cameron • April 7, 2008
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    The Truth about Headhunters

    When the phone rings and it’s a headhunter on the line, your first thought is probably not “What is this person’s business model?” Whether this is the right time to look into a job opportunity and, if so, whether this particular one could work for you, are understandably top of mind.But the way a...

    By • April 7, 2008
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    Orthofix CFO Quits after Five Months

    Orthofix International CFO Timothy Adams has resigned less than five months after taking the position, the company announced Friday. Shares of the orthopedic-products company took a big hit from the unexpected announcement, down about 25 percent in late-Friday trading.No reason was provided for t...

    By Stephen Taub and David McCann • April 4, 2008
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    The $180 Million CFO?

    Talk about earning your pay from the first pay on the job. Shares of MF Global surged nearly 15 percent Thursday, one day after the brokerage named J. Randy MacDonald as its new CFO.That works out to a better than $180 million gain in the company’s market capitalization. Niamh Alexander, an ana...

    By Stephen Taub • April 3, 2008
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    CFOs on the Move: Week Ending April 4

    • Barry Zwarenstein, the CFO of VeriFone Holdings, resigned after an audit committee investigation into inventory accounting errors forced the company to restate results for prior periods. The company said it is searching for a new CFO. • A finance team shake-up at Westmoreland Coal Co. has br...

    By Kate Plourd and Laura Cameron • April 3, 2008
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    Westmoreland Finance Department Upended

    Westmoreland Coal Co. has announced a shake-up in its corporate finance ranks, starting with the departure of its CFO and the appointment of a replacement. The changes come amid a Securities and Exchange Commission investigation into accounting errors, although it is not clear if the events are l...

    By Marie Leone • April 2, 2008