Orthofix CFO John Bostjancic, C-Suite Execs Terminated for ‘Inappropriate and Offensive Conduct’

Along with Bostjancic, CEO Keith Valentine and chief legal officer Patrick Keran were terminated for cause. Geoffrey Gillespie will act as interim CFO during the search for replacements.

By Andy Burt • Sept. 13, 2023

Silicon Valley Bank, First Republic Failures Caused Shift in Startups’ Deposits

New data on 400 venture-funded companies from Kruze Consulting reveals where startups moved their bank deposits when SVB and FRB started to fail.

By Vincent Ryan • Sept. 6, 2023

85% of Cybersecurity Leaders Say Recent Attacks Powered by AI: Weekly Stat

As the push for generative AI incorporation continues in corporate finance, the cybersecurity ramifications may be getting overlooked.

By Adam Zaki • Aug. 30, 2023

A Full-Blown Debt Crisis Is Avoidable

Higher interest rates have not impacted the real economy as strongly as they have in the past.

By Aylin Somersan Coqui • Aug. 21, 2023

5 Steps CFOs Should Take to Mitigate Workplace Misconduct

Avoiding bad hires who engage in misconduct can help companies avoid costly lawsuits and ensure employees are the best representatives of the company.

By Ben Mones • Aug. 17, 2023

Silicon Valley Bank Collapse Puts CFOs on Notice

On Friday, Silicon Valley Bank (SVB) was closed by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. There have been 562 U.S. bank failures since 2001, though only nine since 2018. Silicon Valley woul...

By Vincent Ryan , Wayne Spivak • March 12, 2023

The ESG Impact

Environmental, social, and governance (ESG) initiatives have become a part of the standard corporate landscape. In this series, CFO examines its origins, how impact can be measured, and how one industry has approached compliance. Series Part I: The Rise of ESG: Where It Is Now and How It Go...

By Ted Jackson • Jan. 18, 2023

43% of Audit Executives Rank Cybersecurity Controls as 2023’s Lead Risk

As company financial performance is becoming increasingly scrutinized going into the new year, recent data from Jefferson Wells reveals the expected auditing and controls hurdles corporate finance teams face. As risk management, data integrity, and unpredictable markets are impacting the decision...

By Adam Zaki • Dec. 7, 2022

SEC Backs Nasdaq’s Boardroom Diversity Plan

In a landmark decision, the U.S. Securities and Exchange Commission has approved Nasdaq’s proposal to increase diversity in the boardrooms of companies listed on its exchange.Fortune said the decision “marks a historic moment for advocates and investors who have been pushing for more women, peopl...

By Matthew Heller • Aug. 10, 2021

Lordstown Motors May Run Out of Gas

In an amended regulatory filing late Tuesday, electric vehicle maker Lordstown Motors stated that it “believes that its current level of cash and cash equivalents are not sufficient to fund commercial-scale production and the launch of sale” of its vehicles.The “going concern” warning means the c...

By Vincent Ryan • June 8, 2021

GE Shareholders Reject Pay Plan for CEO Culp

Corporate governance groups won a rare victory over executive compensation as General Electric shareholders voted to reject the pay plans for top executives including CEO Larry Culp and CFO Carolina Dybeck Happe.The vote at GE’s annual general meeting on Tuesday came out at nearly 58% against the...

By Matthew Heller • May 5, 2021

Kohl’s Rejects Activists’ Push for Board Shakeup

Kohl’s has rejected a move by an investor group to shake up its board with nine new directors, setting the stage for a possible proxy fight.The investor group, which holds a 9.5% stake in the retailer, has been in discussions with Kohl’s since early December. On Monday, it announced it had nomina...

By Matthew Heller • Feb. 23, 2021

SEC Approves Final Rules on Proxy Advisors

The U.S. Securities and Exchange Commission has voted to adopt new rules that require proxy advisors to provide companies with access to their voting advice at the same time as shareholders.The SEC’s 3-1 vote on Wednesday followed a years-long battle between corporate lobbyists and governance act...

By Matthew Heller • July 23, 2020

What’s Next Now That AI Has Gone Mainstream?

Just about four years ago, I wrote an article for CFO entitled “The Robo-Accountants Are Coming,” which was meant to calm the hysteria that was rapidly building over the role of artificial intelligence (AI) in professional services. At the time, we knew that AI would soon be infiltrating the audi...

By Vincent Ryan • April 8, 2020

Twitter Makes Deal With Activist Investor Elliott

Twitter announced an agreement with activist investor Elliott Management on Monday that — at least for now — averts a battle over CEO Jack Dorsey’s leadership of the social media giant.Under the agreement, Elliott executive Jesse Cohn, who had been the driving force behind the hedge fund’s campai...

By Matthew Heller • March 9, 2020

Activist Pushes for Removal of Twitter CEO

Twitter CEO Jack Dorsey Twitter shares jumped Monday on news that activist investor Elliott Management is pushing for changes at the company, including the possible removal of CEO Jack Dorsey.Cciting a person familiar with the matter, CNBC said Elliott has nominated four new Twitter board members...

By Matthew Heller • March 3, 2020

More CEOs Must Retain Equity Awards Post-Vesting

The just-ended decade brought dramatic change to the way large companies compensate their CEOs, a new report shows.In particular, today, far more companies require chief executives to retain equity earned through long-term incentives for a period of time beyond its vesting date.In 2010, 35% of S&...

By David McCann • Feb. 3, 2020

Goldman’s Nod to Diversity Draws Some Criticism

Goldman Sachs has gotten plenty of ink since last week, after CEO David Solomon said in Davos, Switzerland, that the investment bank won’t take a company public unless it has at least one woman or person of color on its board of directors.Most of the ink was positive. But there were exceptions th...

By David McCann • Jan. 30, 2020

What Are the Top Concerns for Boards in 2020?

Preparation for an economic downturn is among the issues that will dominate the attention of corporate boards of directors in 2020, according to law firm Akin Gump Strauss Hauer & Feld’s annual look at top board matters.“Certain challenges commonly associated with economic downturns, such as ...

By David McCann • Jan. 13, 2020

Governance Survey Grades Companies With C+

A new measure of the quality of corporate governance grades U.S. public companies overall with only a C+, with many even reporting no formal mechanism for monitoring or evaluating governance.The inaugural American Corporate Governance Index, developed by the Institute of Internal Auditors and the...

By Matthew Heller • Dec. 12, 2019

California Law Mandating Women Directors Is Challenged

It has been a surprisingly strong catalyst to nudge boards to add more female directors. But now, California’s first-in-the-nation law that mandates women on boards is facing a critical court challenge.The libertarian group Pacific Legal Foundation recently filed a federal lawsuit, saying Califor...

By David McCann • Nov. 25, 2019

Clorox Links Executive Pay to Sustainability

Clorox has unveiled a new strategy for “profitable, sustainable and responsible growth” that includes tying the compensation of its CEO, CFO and other executives to meeting environmental, social and governance (ESG) goals.Under its IGNITE strategy, the consumer products company is aiming to, amon...

By Matthew Heller • Oct. 3, 2019

Performance-Based Pay Comes Under Fire

The Council of Institutional Investors this month overhauled its policy on executive compensation, urging public companies to dial back the complexity of their pay plans and set longer periods for measuring performance for incentive awards.While acknowledging that boards of directors need to tail...

By David McCann • Sept. 25, 2019

How to Fend Off Risks Related to Human Trafficking

The Grant & Eisenhofer ESG Institute, a global policy group, on Monday filed a petition asking U.S. Customs and Border Control to ban U.S. importation of palm oil and its derivatives produced by FGV, a Malaysian producer.The petition contends that FGV has exploited foreign migrant workers, so...

By David McCann • June 24, 2019

Tesla Adds ‘Big Believer’ Larry Ellison to Board

Tesla announced on Friday it added Oracle co-founder Larry Ellison to its board as an independent director, describing him as a “big believer” in its sustainable energy mission.Ellison’s appointment follows a settlement with the U.S. Securities and Exchange Commission of allegations Tesla CEO Elo...

By Matthew Heller • Dec. 28, 2018