Leadership
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CFO turnover at public companies soared to 3-year high in Q1
The spike “demonstrates that as economic uncertainty becomes the new normal for organizations, the trepidation to replace CFOs has dissipated,” Russell Reynolds said.
By Alexei Alexis • May 17, 2024 -
Nonprofit MDA CFO attributes $5M cost reduction to streamlined operations, tech
Since rising to the CFO chair in 2018, Michael Kennedy pared down the nonprofit’s back-end from 65 systems to one platform.
By Grace Noto • May 16, 2024 -
Trendline
CFO best practices in the evolving generative AI era
As the initial frenzy around the launch of generative artificial intelligence subsides, a new GenAI era appears to be taking shape.
By CFO Dive staff -
First-time CFO looks to sharpen Kyriba’s FP&A approach
Adam Drew in March became the San Diego, California-based treasury and finance platform provider’s first permanent CFO in more than a year.
By Maura Webber Sadovi • May 16, 2024 -
Northrop Grumman names new CFO in leadership shakeup
The transition comes on the heels of some volatility in the defense industry giant’s financial performance.
By Alexei Alexis • May 15, 2024 -
Companies are choosing leaner operations over price hikes: BCG
Passing on cost increases to inflation-weary consumers is challenging, but not raising prices carries its own risks.
By Suman Bhattacharyya • May 15, 2024 -
Brex CFO mulls long-term IPO scenario but keeps eye on costs, ROI
The prevailing attitude among companies seeking to go public is to achieve profitability beforehand, Ben Gammell said.
By Grace Noto • May 14, 2024 -
Cybersecurity ops budgets expected to climb: KPMG
The average annual budget for SOCs — a one-stop shop for managing cyber threats — is $14.6 million, according to a KPMG survey of large firms.
By Maura Webber Sadovi • May 14, 2024 -
Opinion
The problem that made ‘zero-based budgeting’ unachievable just got solved
Accounting for every dollar was largely just an elusive aspiration in finance circles — until artificial intelligence arrived, writes Globality’s Seth Catalli.
By Seth Catalli • May 14, 2024 -
How CFOs can keep shipping costs under control: Contracts, fees, timing
Finance chiefs need to find “consultative” partners that will work to eliminate waste and drive down transport costs, experts say.
By Chris Gaetano • May 13, 2024 -
Congress wants to question Microsoft exec over security defects
A House panel wants to question Brad Smith, Microsoft’s president and vice chair, over the company’s security shortcomings and how it plans to strengthen security measures.
By Matt Kapko • May 13, 2024 -
Ford CFO tapped as vice chair; Lucid Motors exec set to succeed
Ex-Lucid Motors CFO Sherry House will receive a $1.2 million cash sign-on bonus as Ford's VP of finance.
By Grace Noto • May 10, 2024 -
Instacart taps VP of finance, former Uber exec for CFO seat
The new CFO said the company remains “relentlessly” focused on investing in new technologies and cultivating its partnership with Uber.
By Alexei Alexis • May 9, 2024 -
Nerdwallet CFO champions user growth in face of credit, lending headwinds
The former eBay and StubHub executive is keeping her eye on uncertainty in the banking sector and other headwinds following a mixed quarter.
By Grace Noto • May 9, 2024 -
More companies are tying ESG metrics to executive compensation: WTW
Despite political blowback in the U.S., companies are increasingly incorporating ESG metrics into performance measures and incentive plans, according to the insurance services provider.
By Suman Bhattacharyya • May 9, 2024 -
AI-driven cash flow management startup gets $15M boost
Panax is among companies that say they’re seeing high demand for finance automation tools as businesses try to navigate an uncertain economic environment.
By Alexei Alexis • May 8, 2024 -
Vroom swaps in new CFO after shuttering online car sales
The leadership change comes after Vroom announced in January that it was discontinuing its online used vehicle sales platform in order to preserve liquidity.
By Maura Webber Sadovi • May 8, 2024 -
UPS CFO set to depart, citing health
The parcel delivery service’s CFO will be stepping down to focus on his personal health as UPS struggles to boost sagging shipping volumes.
By Grace Noto • May 7, 2024 -
Fraud detector Traceable zeroes in on GenAI threats
The startup is rolling out new AI-related threat detection capabilities on the heels of securing $30 million in funding from investors, including Citi Ventures.
By Alexei Alexis • May 7, 2024 -
Coca-Cola exec to take Diageo CFO seat
Diageo is tapping Coca-Cola alum Nik Jhangiani for its CFO as the Guinness maker battles slumping sales in the face of changing consumer tastes and spending trends.
By Grace Noto • May 6, 2024 -
Microsoft says cybersecurity overhaul will impact top execs’ pay
The development follows harsh criticism by a Department of Homeland Security panel of the company’s response to a 2023 breach.
By Alexei Alexis • May 6, 2024 -
SEC hits Trump Media auditor with $12M fine
BF Borgers, an auditor of public company financial statements, has committed massive fraud impacting more than 1,500 SEC filings, the agency said.
By Alexei Alexis • May 3, 2024 -
Businesses need ‘eye in the sky’ scanning for geopolitical risks: McKinsey
Building a coordinated scanning and oversight capability can help organizations separate signal from noise, says Ziad Haider, a partner and global director at McKinsey.
By Suman Bhattacharyya • May 3, 2024 -
Peloton cuts jobs, searches for new CEO amid financial turmoil
“We made some very tough decisions, and while we firmly believe these actions are the right thing to do for the business, cuts like this are painful,” CFO Liz Coddington said.
By Alexei Alexis • May 2, 2024 -
Driven Brands CFO resigns after one year on job
The automotive services company’s shares slumped Thursday after it released earnings and announced its finance chief is leaving the company.
By Maura Webber Sadovi • May 2, 2024 -
Marriott gears up for another year of major tech spending
The company expects full-year investments to reach $1 billion as digital transformation projects advance, according to its latest earnings call.
By Lindsey Wilkinson • May 2, 2024