Samsung CFO takes on new role in management shake-up

The shift comes on the heels of profit struggles at Samsung and the company’s public apology to investors.

By Alexei Alexis • Nov. 27, 2024

FASB updates convertible debt rules

The new GAAP guidance stems from a request made by Big Four accounting firms and comes as the convertible bond market is regaining steam. 

By Maura Webber Sadovi • Nov. 27, 2024

Explore the Trendline➔

Top 5 stories from CFO Dive

The promises and traps of generative AI, revamped modern finance teams and stark geopolitical risks are among the top forces CFOs are grappling with this year.

By CFO Dive staff

Scotts Miracle-Gro appoints interim CFO in leadership shift

Treasurer Mark Scheiwer will step in as interim CFO as Scotts looks to execute a “turnaround” for its cannabis-focused subsidiary, where sales plummeted by 46% during its most recent quarter.  

By Grace Noto • Nov. 26, 2024

Zoom rebrands, aims to be known as ‘AI-first’ company

“Zoom is now about so much more than video meetings,” CEO Eric Yuan said.

By Alexei Alexis • Nov. 26, 2024

Macy’s says accountant hid as much as $154M in expenses

The deliberately misleading accounting of expenses since the fourth quarter of 2021 did not disrupt cash management or vendor payments, Macy’s said.

By Jim Tyson • Nov. 25, 2024

SEC hits UPS with $45M fine for material misstatements

The company overvalued its freight unit, one of its ‘worst-performing’ business segments, prior to the unit’s sale in 2021 for $800 million, the SEC said.

By Grace Noto • Nov. 25, 2024

Evolv CFO latest to depart during misconduct, revenue misstatement investigation

The security technology provider will pay a weekly $50,000 fee to AlixPartners in exchange for the services of its director David Rawden as interim CFO.

By Grace Noto • Nov. 22, 2024

SEC’s Gensler to step down Jan. 20 after robust rulemaking, enforcement

The SEC, in one of its most far-reaching changes under Gensler, adopted rules to channel more trading of Treasury securities into central clearinghouses and curb illiquidity risks.

By Jim Tyson • Nov. 21, 2024

Walmart CFO keeps eye on prices, tariffs

Walmart is looking to continue to attract high-income consumers with the right price mix, even as CFO John Rainey anticipates price hikes in the face of potential tariffs.

By Grace Noto • Nov. 20, 2024

Audit committees expand oversight to ESG, cybersecurity, AI: EY

Nearly four out of five investors said boards should demonstrate expertise in climate, cybersecurity and other risks by detailing their work to limit such hazards, EY said.

By Jim Tyson • Nov. 18, 2024

Spirit CFO says post-pandemic airline sector is ‘unrecognizable’

Budget carriers like bankrupt Spirit Airlines have been “disproportionately” affected by industry headwinds as they rely on “much slimmer margins,” CFO Fred Cromer writes.

By Maura Webber Sadovi • Nov. 18, 2024

Rivian CFO inks $3.5M trading plan as EV industry faces bumps

President-elect Trump will likely ax the EV tax credit, a proviso of the Inflation Reduction Act, upon taking office in January. Critics say the move will badly impact EV competition.

By Grace Noto • Nov. 18, 2024

Disney CFO highlights booming streaming growth

Subscribers for its Disney+ Core platform grew by 4.4 million in Q4 as the company cracks down on password sharing and looks to improve customer engagement.

By Grace Noto • Nov. 15, 2024

Jack in the Box brings back ex-CFO for second stint

Lance Tucker will receive a $200,000 cash bonus upon taking Jack in the Box’s CFO seat for the second time.

By Grace Noto • Nov. 13, 2024

GAAP is letting companies get away with anticompetitive mergers, researchers say

Intangible assets aren’t being captured in the merger review thresholds that federal antitrust agencies rely on, a paper shows.

By Robert Freedman • Nov. 13, 2024

Wall Street year-end bonuses forecast to jump as much as 35%

For the first time since 2021, banks are gearing up to give bigger end-of-year bonuses to many employees, Johnson Associates says.

By Maura Webber Sadovi • Nov. 12, 2024

Xactly CFO looks to non-finance talent to fill accounting gaps

Teaching employees without a traditional finance background to speak the language can help circumvent ongoing talent shortages, CFO Jason Godley said.  

By Grace Noto • Nov. 12, 2024

Trump Media CFO plans to sell $13.4M in shares by Dec. 2025

Donald Trump, three days after winning the Nov. 5 presidential election, sought to puncture rumors that he plans to sell Trump Media shares.

By Jim Tyson • Nov. 11, 2024

News Corp’s new CFO to receive $2.6M one-time equity bonus

Lavanya Chandrashekar, 52, most recently CFO of beverage company Diageo, will replace Susan Panuccio, who has held News Corp’s finance reins since 2017. 

By Maura Webber Sadovi • Nov. 8, 2024

Fed cuts rate by quarter point, sees ‘balanced’ risks to inflation, jobs

The reduction in borrowing costs comes just two days after Donald Trump won a second term as president, heralding likely economic policy shifts that may fuel inflation.

By Jim Tyson • Nov. 7, 2024

ADM reveals more accounting errors, cancels earnings call

The global grain trader’s accounting practices and internal controls have been under scrutiny since January when it revealed an internal probe was underway.

By Maura Webber Sadovi • Nov. 5, 2024

ServiceNow CFO eyes AI agents following robust Q3

The SaaS provider is looking to bring AI agents to its customer and IT service segments after reporting $2.7 billion in subscription revenues, driven in part by AI adoption, its CFO said.  

By Grace Noto • Nov. 5, 2024

Election 2024: Harris, Trump present ‘diametrically opposed’ impacts on ESG

“A Harris administration would be more favorable for the interests of ESG investors whereas a Trump administration would be antagonistic,” according to Morningstar Indexes’ head of strategy.

By Lamar Johnson , Zoya Mirza • Nov. 5, 2024

Internal auditors, CFOs should share the AI disruption risk: IIA CEO

As AI further complicates a tricky risk environment, CFOs and internal auditors need to reach a strategic alignment, IIA’s Anthony Pugliese said.

By Grace Noto • Nov. 4, 2024

FASB issues new, long-anticipated income statement expense rules

Compliance with the standards update “isn’t going to be cheap” for many firms, but the FASB has taken steps to reduce the cost to preparers, board member Fred Cannon said.

By Maura Webber Sadovi • Nov. 4, 2024