Leadership: Page 11
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Courtesy of ADM
ADM’s suspended CFO to resign amid accounting scandal
Vikram Luthar — who was placed on a forced leave in January — will assist the company and be paid his base salary until his resignation is effective on Sept. 30.
By Maura Webber Sadovi • April 23, 2024 -
"U.S. Securities and Exchange Commission headquarters in Washington, D.C., near Union Station" by AgnosticPreachersKid is licensed under CC BY 3.0
High Court ruling eases blow of SEC’s new cyber rules: analysts
The court’s decision in Macquarie Infrastructure Corp. v. Moab Partners makes it harder for plaintiffs to bring claims based on omissions in SEC filings.
By Alexei Alexis • April 23, 2024 -
Explore the Trendline➔
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TrendlineCompensation: solving the cost-talent puzzle
In today’s strong labor market, CFOs leery of raising wages find creative ways to find and retain key employees.
By CFO Dive staff -
Courtesy of Mobico Group
Mobico CFO steps down following delayed financial results
The public transport company appointed an interim CFO after reporting a 36% drop in profit, impacted by inflationary pressures and labor shortages in key markets.
By Grace Noto • April 22, 2024 -
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Controllers hunt for workarounds to ‘continuous’ reporting, accountant shortage
As leaders of their firms’ accounting operations, many controllers are outsourcing work and using AI to speed accounts payable and receivable tasks.
By Chris Gaetano • April 19, 2024 -
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Jabil CFO steps up as CEO is placed on paid leave
The manufacturer’s CFO is stepping into the interim CEO seat after Jabil struggled with “revenue headwinds” amid an ongoing restructuring and cost realignment plan.
By Grace Noto • April 19, 2024 -
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CEOs, CFOs can’t get non-prosecution agreement under DOJ pilot
Criteria released by the Department of Justice April 15 lets corporate executives know if they stand a good chance of avoiding charges for coming forward with misconduct allegations.
By Robert Freedman • April 19, 2024 -
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Accounts receivable automator Versapay taps new CFO
Ed Neumann is joining the AR platform provider as it looks to grow by targeting companies seeking to digitize their older manual systems.
By Maura Webber Sadovi • April 18, 2024 -
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NSA sounds alarm on AI’s cybersecurity risks
Malicious actors on the hunt for sensitive data or intellectual property may be attracted to attack vectors unique to artificial intelligence, the NSA warned.
By Alexei Alexis • April 18, 2024 -
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Cyber insurance gaps stick firms with millions in uncovered losses
An analysis of 101 breaches across various sectors revealed insurance gaps resulting in an average of $27.3 million in uncovered losses per incident.
By Alexei Alexis • April 17, 2024 -
Courtesy of Orthofix
Orthofix replaces fired CLO, grapples with internal control ‘material weakness’
The new chief legal officer is joining the company as it faces a fresh set of headwinds related to its internal control over financial reports.
By Maura Webber Sadovi • April 17, 2024 -
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CFOs worry over rising operations cost: Grant Thornton
Finance chiefs are banking on GenAI to offset cost pressures in the face of persistent inflation, with 71% of CFOs still expecting a jump in net profit.
By Grace Noto • April 17, 2024 -
Justin Sullivan / Staff via Getty Images
Microsoft raises business application suite prices as Copilot permeates Dynamics 365
The tech giant updated terms on its CRM and ERP solutions for the first time in more than five years.
By Matt Ashare • April 16, 2024 -
Chip Somodevilla via Getty Images
70% of CEOs feel ready to deliver on responsible GenAI
The intense focus on safe and ethical GenAI use comes as the technology’s rapid rise is prompting scrutiny from governments around the world.
By Alexei Alexis • April 16, 2024 -
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ChatGPT grabs the shadow IT crown: report
Generative AI tools emerged as the latest villain in the enterprise battle to curb SaaS bloat and rationalize software portfolios, Productiv analysis found.
By Matt Ashare • April 16, 2024 -
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OpinionThe CFO’s role in curbing third-party cybersecurity risk
With vendor-related cyber risks spiking rapidly, the stakes are too high for CFOs to treat the issue as merely an IT concern, writes cybersecurity consultant AJ Yawn.
By AJ Yawn • April 16, 2024 -
Permission granted by Customers Bank
Customers Bancorp boots CFO for ‘cause’
Carla Leibold was terminated Wednesday over a violation of company policy, a characterization she reportedly disputes. Philip Watkins was promoted to take her place, the company said.
By Rajashree Chakravarty • April 15, 2024 -
Sean Pavone via Getty Images
NYCB hires new CFO, general counsel
The beleaguered Long Island-based lender brought aboard four executives Friday whose careers had crossed paths with that of newly minted CEO Joseph Otting.
By Dan Ennis • April 15, 2024 -
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Scribd promotes CFO to CEO following expansion push
Scribd is tapping its former CFO for the role after moving to streamline its offerings, including breaking its document and book content into two distinct platforms.
By Grace Noto • April 12, 2024 -
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Tech vendor Docyt adds voice feature to AI-driven accounting tool
Docyt is among the software vendors racing to capitalize on recent advancements in AI. Many of them are zeroing in on the corporate finance market.
By Alexei Alexis • April 11, 2024 -
Courtesy of ADM
Suspended ADM CFO’s pay ticked up in 2023 to $4.5M
The majority of Vikram Luthar’s pay package for last year came from $3.4 million in stock awards, according to Archer Daniels Midland’s proxy filing.
By Maura Webber Sadovi • April 11, 2024 -
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PCAOB levies record $25M fine on KPMG Netherlands for exam cheating
The $25 million penalty is the largest fine of any type imposed by the auditor watchdog since it was created in 2002 following the Enron accounting scandal.
By Maura Webber Sadovi • April 10, 2024 -
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KFC names new CFO amid push to boost sales
The finance leadership change comes as KFC struggles with dwindling traffic in a dicey economic environment.
By Alexei Alexis • April 10, 2024 -
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Interim CFO requests skyrocket 46%: BTG
Companies are turning to interim financial leadership more frequently as they struggle to fill widening gaps in their accounting and finance functions.
By Grace Noto • April 9, 2024 -
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Nation-state actors drive up cyberthreats
Microsoft and Hewlett Packard Enterprise are among companies that have recently reported high-profile cyber intrusions attributed to nation-state actors.
By Alexei Alexis • April 9, 2024 -
Win McNamee via Getty Images
Capital One’s Discover bid tops biggest Q1 tech-related deals
The proposed Capital One-Discover merger made the list because of fintech issues that are at stake in the $35.3 billion deal.
By Alexei Alexis • April 9, 2024
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