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

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

Explore the Trendline➔

Digital transformation, one smart step at a time

As pricing pressures tighten margins and technologies like artificial intelligence evolve, finance chiefs are more closely scrutinizing the cost and returns of the tech tools they implement.

By CFO Dive staff

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

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

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

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

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

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

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

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

The 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

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

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

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

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

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

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

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

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

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

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

As Zillow alum takes the financial helm, Varo Bank sets sights on profitability

Varo’s Allen Parker is focused on “ensuring finance can play a role in how we prioritize our investments” which will be critical to achieving profitability, he said.

By Grace Noto • April 8, 2024

RBC fires CFO, treasury exec over undisclosed relationship

Nadine Ahn had been seen as a potential future CEO candidate, sources told The Globe and Mail. RBC named Katherine Gibson its interim CFO while it searches for a successor.

By Dan Ennis • April 8, 2024

Spotify names new CFO amid profitability push

The move follows efforts by the music streaming giant to turn the page on a history of financial struggles, including by raising prices and cutting staff.

By Alexei Alexis • April 4, 2024

Intel appoints new CFO to troubled chipmaking unit

The appointment follows a $7 billion operating loss for Intel’s foundry unit as AI’s potential pushes up both interest and pricing in the semiconductor space.

By Grace Noto • April 3, 2024