Starbucks taps CFO for interim CEO in midst of leadership shift

Starbucks alum Rachel Ruggeri will step in as interim CEO as the coffee chain continues to fight labor activists and political protesters, leading to slumping sales.

By Grace Noto • Aug. 13, 2024

M&A, vendor reliance help drive up ransomware threat: report

The financial severity of claims related to ransomware attacks increased more than 400% from 2022 to 2023, the study found.

By Alexei Alexis • Aug. 13, 2024

Explore the 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

The first 100 days: 4 key considerations after a private equity acquisition

The first 100 day period calls for an all-hands-on-deck approach to set a comprehensive plan for people, processes and technology to address both short-term needs and future value creation goals.

By Sarah Owings, WilliamsMarston Partner • Aug. 12, 2024

Ledger check: How finance teams can transform using AI

As technologies and capabilities expand, finance leaders report a growing investment and expectation of AI in the coming year.

Aug. 12, 2024

IRS restarts review of employers’ claims for pandemic tax credit

The agency last year suspended processing applications for the Employee Retention Credit after reports of fraud.

By Jim Tyson • Aug. 9, 2024

NJ law firm asks court to dismiss ex-CFO’s Chap. 11 bankruptcy case

The ex-CFO, who pleaded guilty to embezzling $1.5 million from his former employer, filed the petition for bankruptcy to delay pending litigation, the motion argues.

By Grace Noto • Aug. 9, 2024

Disney anticipates ‘flattish’ theme park revenues in Q4: CFO

Lower income consumers are “feeling a little bit of stress," while high income individuals are "traveling internationally a bit more,” CFO Hugh Johnston said.

By Alexei Alexis • Aug. 8, 2024

ZoomInfo shares plummet after weak quarter, CFO departure

ZoomInfo’s VP of FP&A will step in as interim CFO as the company turns to AI to bolster its financials after offering weak guidance.

By Grace Noto • Aug. 6, 2024

Tyson surprise chicken profit leads to ‘positive turnaround’

The meat processor’s focus remains on maintaining its financial strength after seeing a surprise $244 million profit for its chicken segment, interim CFO Curt Calaway said.

By Grace Noto • Aug. 5, 2024

Big tech banks on AI boom as infrastructure spending heads for trillion-dollar mark

“While we're investing a significant amount in the AI space and in infrastructure, we would like to have more capacity than we already have today,” Amazon CEO Andy Jassy said.

By Matt Ashare • Aug. 5, 2024

How to curb ‘key man risk’ and late SEC filings

The accounting talent shortage and increased reporting requirements helped create a “perfect storm” leading to more late SEC filings, UHY’s Ro Sokhi said.

By Maura Webber Sadovi • Aug. 2, 2024

Accounting pipeline task force calls out 6 fixes

Reducing the time and cost of education needed to become a licensed CPA and raising starting salaries were among the solutions proposed in the final report.

By Maura Webber Sadovi • Aug. 2, 2024

Ex-Pizza Hut exec to take finance helm of Driven Brands

The transition comes as the automotive services leader is focused on accelerating growth while also generating cash flow.

By Alexei Alexis • Aug. 1, 2024

Life Time Group interim CFO moves to permanent seat

The leadership announcement comes as Life Time reached a key “inflection point,” reporting $175.1 million in free cash flow for its most recent quarter.

By Grace Noto • Aug. 1, 2024

Microsoft, Alphabet disappoint investors in latest earnings season

Wall Street is closely watching big tech companies to see if their heavy investments in artificial intelligence are paying off.

By Alexei Alexis • July 31, 2024

Fed holds rates steady; points to ‘totality’ of data needed for potential September cut

The central bank continued to maintain rates at their 23-year high, but cracked open the door for a potential cut in September.

By Grace Noto • July 31, 2024

BlackBerry promotes cyber finance chief to company CFO

The CFO shift comes as BlackBerry seeks $150 million in cost saving and proceeds with a separation plan for its IoT and cybersecurity divisions.

By Grace Noto • July 30, 2024

Ex-NJ law firm CFO sentenced to five years for $1.5M embezzlement scheme

The former finance chief is required to pay $1.5 million as restitution to his former employer, the NJ AG’s office said.

By Grace Noto • July 29, 2024

Flex appoints 20-year company alum as interim CFO

Longtime company alum Jaime Martinez will step in as interim CFO as Flex looks to execute on a restructuring plan aimed at improving its operational efficiency.

By Grace Noto • July 25, 2024

Alphabet investors get mixed news from departing CFO Ruth Porat

The tech giant’s shares sank after Porat’s mixed comments about the company’s operating margin outlook.

By Alexei Alexis • July 24, 2024

KKR-backed OneStream sees $4.6B valuation following $490M IPO

The company will continue to invest in machine learning, AI and new products such as demand forecasting tools following its $490 million IPO, CFO Bill Koefoed said.

By Grace Noto • July 24, 2024

Spotify profit jumps amid ‘early days’ of price increases

Interim CFO Ben Kung said the music streamer is “encouraged” by the initial consumer reaction to the company's recent price hikes.

By Maura Webber Sadovi • July 23, 2024

PulteGroup promotes insider to fill retiring CFO’s seat

Jim Ossowski will take the home builder’s finance reins in 2025 as Pulte looks to build on its record first-quarter home sale revenues.

By Grace Noto • July 22, 2024

FASB answers Big Four convertible debt ask

The fix comes after PwC, Deloitte, KPMG and EY requested clarity on rules related to convertible debt instruments that have seen a surge in demand. 

By Maura Webber Sadovi • July 18, 2024

Incoming QXO CFO’s comp package includes $3M signing bonus

M&A “heavy hitter” Ihsan Essaid could rake in a $1.6 million base salary should the product distribution company hit future annualized revenue run rate goals, according to a company filing.  

By Grace Noto • July 18, 2024