Detroit nonprofit sues ex-CFO over alleged $40M embezzlement

The former finance chief breached his fiduciary duty and caused “enormous financial devastation,” according to the complaint.

By Alexei Alexis • July 25, 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

Explore the Trendline➔

Compensation: 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

Estée Lauder controller lands CFO seat amid restructuring

Akhil Shrivastava, a nine-year company veteran, understands “the levers the company can pull to revive growth,” Morningstar analyst Dan Su writes. 

By Maura Webber Sadovi • July 24, 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

CFOs face ‘threefold challenge’ with GenAI spending, Pairsoft CEO says

As finance chiefs look to upgrade legacy finance functions, GenAI is emerging as a promising technology — but first, CFOs need to identify a clear use case.

By Grace Noto • July 23, 2024

Judge deals major blow to SEC’s cybersecurity enforcement stance

“The decision substantially limits the SEC’s authority to challenge a company’s cybersecurity program,” attorney Mark Schonfeld said.

By Alexei Alexis • July 23, 2024

Many CFOs still in early phase of digital transformation: McKinsey

Finance teams are grappling with roadblocks such as already-demanding workloads, a lack of relevant capabilities and insufficient resources.

By Alexei Alexis • July 23, 2024

Firms favored reorganizations over liquidations in H1: S&P

The jump in companies choosing Chapter 11 could signal rising corporate optimism about reorganization prospects that is partly driven by anticipated rate cuts.

By Maura Webber Sadovi • July 22, 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

Visa, Mastercard say CrowdStrike didn’t impact networks

Still, cardholders may have been affected, particularly in Europe, as some bank card issuers were hit by the cybersecurity company’s update snafu.

By Lynne Marek • July 22, 2024

Legacy tech upgrades cost the average business nearly $3M last year

Maintenance costs, impacts on the data stack and AI ambitions are pushing companies to modernize, a SnapLogic survey found.

By Lindsey Wilkinson • July 19, 2024

CrowdStrike software update at the root of a massive global IT outage

A defective software update led to major disruptions in aviation, banking and other industries as Microsoft 365 services were impacted worldwide.

By David Jones • July 19, 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

CFPB to apply lending laws to EWA

The federal agency weighed in Thursday with a proposed rule to oversee the burgeoning earned wage access industry.

By Lynne Marek • July 18, 2024

High interest rates dampen hopes for robust M&A recovery

While M&A activity is gaining momentum, dealmakers continue to face a mixed macroeconomic environment, Boston Consulting Group analysts said. 

By Alexei Alexis • July 17, 2024

HSBC names CFO Elhedery as its next CEO

The Lebanon-born banker was seen as an early front-runner to succeed Noel Quinn. Elhedery took a sabbatical in 2022, reportedly learning Mandarin, and was named CFO when he returned.

By Dan Ennis • July 17, 2024

SEC rule jumpstarts Corpay CAO’s ESG push

The climate-risk disclosure rule’s March passage helped push the payments player to double down on its ESG reporting strategy, Chief Accounting Officer Alissa Vickery said.

By Maura Webber Sadovi • July 16, 2024

AI budgets poised to surge in 2025

While AI investments are expanding, many companies are failing to invest in infrastructure necessary to optimize the technology, EY found.

By Alexei Alexis • July 16, 2024

Latest AT&T data breach risks customer defections: Moody’s

The incident comes as AT&T is already facing a number of class action suits stemming from a separate breach that was disclosed in March.

By Alexei Alexis • July 16, 2024

5 takeaways on costs, challenges of climate disclosure compliance

Complacency regarding the SEC’s now-stayed rules could leave companies “scrambling to try to get ready” once they are put in place, PwC’s Marc Siegel said.

By Maura Webber Sadovi • July 15, 2024

AR player Versapay plunges ahead with new C-suite team

The business-to-business accounts receivable player is weighing its strategic options and eyeing opportunities in the office of the CFO.

By Lynne Marek • July 15, 2024

3 reasons why it’s time to get on board with AI for growth

Start thinking of AI as an offensive advantage instead of a defensive backstop.

By Grant Halloran, Planful CEO • July 15, 2024

Banks should proactively combat instant payments fraud: BNY

Use of data-sharing protocols among banks could warn customers before they send money, said Carl Slabicki, a BNY executive.

By Suman Bhattcharyya • July 12, 2024