Citi cuts multiple CFO roles as part of broad restructuring
CFO Dive
DECEMBER 7, 2023
The bank’s biggest restructuring in a decade is hitting group finance chiefs as Citi seeks to trim expenses over the next two years.
Google to restructure finance team ahead of AI push: Reports
CFO Dive
APRIL 18, 2024
The restructuring is the latest round of layoffs by Alphabet as the company looks to funnel more than $100 billion into AI projects.
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Disney to restructure finance team: CFO memo
CFO Dive
APRIL 24, 2023
In a memo to employees from CFO Christine McCarthy that was later leaked, she outlined plans for changes to the structure of the company’s financial team, according to a Business Insider report.
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Alcoa taps controller for CFO
CFO Dive
JANUARY 11, 2023
Alcoa’s controller will move to its CFO seat among an executive restructuring plan designed to help the company focus more deeply on cost and innovation.
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Bed Bath & Beyond CFO ties bankruptcy to e-commerce ‘reluctance’
CFO Dive
APRIL 23, 2023
Restructuring expert Holly Etlin, named Bed Bath & Beyond’s interim finance chief in February, stepped into the roles of CFO and chief restructuring officer Saturday.
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CVS interim CFO takes permanent seat
CFO Dive
JANUARY 5, 2024
The CVS Health executive is taking on the top finance seat as it looks to get back on track following a corporate restructuring, company-wide layoffs, and rising costs.
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Arizona Cardinals fire CFO in leadership shakeup: ESPN
CFO Dive
JANUARY 19, 2024
The move comes amid reports of a broader restructuring of the football club’s business operations, led by chief operating officer Wesley Walls.
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Apple veteran takes Sonos CFO seat
CFO Dive
JANUARY 10, 2024
Sonos has restructured and cut jobs as it navigates a broader slump in the U.S. consumer technology sector.
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How finance leaders should communicate restructuring
Future CFO
JANUARY 18, 2024
Communicating the rationale for restructuring can be sound simple, but is actually requiring more than just a mere meeting with the team. As a finance leader , it is important that topics such as restructuring is properly and effectively communicated to the people to ensure that the team is on the same page.
Disney CFO takes leave of absence
CFO Dive
JUNE 16, 2023
The 23-year company alum is stepping down among a pending shareholder lawsuit and efforts by the company to restructure following ongoing subscriber loss for its streaming business.
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Discover CFO eyes benefits of downturn
CFO Dive
JUNE 21, 2022
As smaller fintechs grapple with restructuring challenges, the card company expects there will be more opportunities for it in hiring talent and acquiring businesses, said CFO John Greene.
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The phases of strategy restructuring for CFOs
Future CFO
JANUARY 11, 2024
CFOs must lean on a systematic phased approach to restructuring strategies for the future to be able to plan correctly , and consequently execute and adapt. Phase 1 – The case for change In the initial phase, finance leaders must make a compelling case for change and communicate the strategic rationale behind the restructuring.
FASB update nixes separate accounting for troubled debt restructurings
CFO Dive
APRIL 1, 2022
As an alternative to calculating TDR, creditors that have implemented current expected credit losses (CECL) standards are to disclose their restructurings for distressed borrowers.
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When a Restructuring Became A CFO’s Flight Path | Donald McClure, CFO, Identity Digital
CFO Thought Leader
OCTOBER 18, 2023
943: Finding the Path Forward | Donald McClure, CFO, Identity Digital MADE POSSIBLE BY PLANFUL | Planful is the pioneer of financial performance management cloud software. Planful empowers finance, accounting, and business users to plan confidently, close faster, and report accurately.
Nokia restructuring its India operations, eliminating key jobs of CFO, CTO, legal affairs head
CFO News
FEBRUARY 25, 2024
The rejigs and job cuts—in line with global restructuring at the telecom equipment maker—come amid a weak India business environment in the face of reducing 5G capex spends by top telcos Bharti Airtel and Reliance Jio as well as major customer Vodafone Idea’s continuing financial struggles.
Bankrupt Revlon to pay $165,000 monthly for interim CFO
CFO Dive
AUGUST 10, 2022
Alvarez & Marsal Managing Director Matt Kvarda will step in as interim CFO for beauty brand Revlon as it goes through corporate restructuring, with the consulting firm reaping a $165,000 monthly fee.
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Vera Bradley replaces CFO, plans more job cuts
CFO Dive
APRIL 26, 2023
The seller of women’s handbags is planning to cut as many as two dozen jobs as part of a corporate restructuring initiative targeting $12 million in incremental cost reductions.
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Disney to cut back streaming content as subscriber count slumps, CFO says
CFO Dive
MAY 11, 2023
Disney’s restructured content strategy comes as the company faces legal battles, a changing entertainment environment and the impact of AI.
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Huntington preps for mild recession following earnings beat
CFO Dive
JANUARY 20, 2023
The regional bank will aim for low-level expense growth and conduct some measure of organizational restructuring as it looks to position itself to weather a mild recession, CFO Zach Wesserman said.
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What’s behind SAP’s massive restructuring push?
CFO Dive
JANUARY 26, 2024
“Cloud is the big elephant in the room for SAP,” Forrester VP and Principal Analyst Liz Herbert said.
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Financial Risk Management: Small Business Advice from a CFO
CFO Share
APRIL 12, 2024
A significant decrease in revenue can result in layoffs or restructuring. Partnering with a fractional CFO means you get conservative financial business advice grounded in solid small-business risk management. To learn more, check out our CFO services. Weekly KPI reporting is an excellent way to detect sales risks early.
943: Finding the Path Forward | Donald McClure, CFO, Identity Digital
CFO Thought Leader
OCTOBER 17, 2023
Back in 2017, Donald McClure had only recently been appointed vice president of FP&A at Brinks Home Security when the company’s CFO at the time decided that it was the right time for retirement. Unbeknownst to McClure—and perhaps even to the firm’s subsequent new CFO hire—a transformative chapter was about to get under way at […]
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Is It Time to Work With an Outsourced CFO?
Beacon CFO Plus
JANUARY 30, 2024
When CFO Services Become a Strategic Imperative In the ever-evolving business landscape, the decision to bring in external expertise can have a major impact on your success. Regardless of your business’s size or industry, there comes a point where engaging with an outsourced CFO becomes necessary. appeared first on BeaconCFO Plus.
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Does My Business Debt Need Restructuring?
CFO Share
MARCH 16, 2021
As a turnaround CFO , I have seen too many good small businesses collapse under the weight of unmanageable debt. Then I am hired to negotiate with lenders to help small businesses restructure debt and avoid folding. Then I am hired to negotiate with lenders to help small businesses restructure debt and avoid folding.
A Practical Guide for the New CFO
CFO Talks
MARCH 14, 2024
The initial period of a new CFO’s tenure is pivotal for setting the groundwork for future success. In this critical time, a CFO must swiftly grasp the unique challenges and opportunities of the organization and start working on the new CFO responsibilities and strategies.
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HSBC CFO: Bank to restructure after Q3 profit drop
Future CFO
OCTOBER 28, 2019
HSBC’s CFO Ewen Stevenson said the bank plans to restructure its loss-making businesses after announcing an 18% year-on-year drop in pre-tax profit in Q3 on Monday. The post HSBC CFO: Bank to restructure after Q3 profit drop appeared first on FutureCFO. The Hong Kong-listed bank reported pre-tax profit of US$4.8
CBIC mulling organisational restructuring to make it more effective, do away with overlapping
CFO News
AUGUST 6, 2023
The CBIC is mulling a comprehensive restructuring of the organisation to make it more effective and remove overlapping, if any, as many of its functions have undergone transformation. The Central Board of Indirect Taxes and Customs or CBIC (formerly knows as Central Board of Excise and Customs) was set up in 1964.
HSBC names CFO successor
Future CFO
OCTOBER 25, 2022
Hong Kong-and-London-listed HSBC announced Georges Elhedery as the CFO successor lately. The appointment of Elhedery will be effective in January 2023 while current CFO Ewen Stevenson will step down at end-December and leave the bank in April. The CFO successor was previously HSBC’s co-CEO of global banking and markets.
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975: Turning the Tide at Beachbody | Marc Suidan, CFO, The Beachbody Company
CFO Thought Leader
FEBRUARY 19, 2024
When PwC partner and relentless champion of shareholder value Marc Suidan stepped into the CFO office at The Beachbody Company in April 2022, intrigue was bound to follow. As a seasoned advisor to management, Suidan had contributed shareholder insights to the turnarounds and restructurings of dozens of businesses.
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Top CFO priority in 2023
Future CFO
JANUARY 12, 2023
The top CFO priority in 2023 is evaluating finance function strategy, scope and design, said Gartner recently. But CFOs have to prepare for stretching themselves beyond this top CFO priority this year. The survey revealed a wide range of actions CFOs plan to either lead or be significantly involved with,” said Horvat.
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HSBC Announces U.S., U.K. Restructuring Amid Q3 Losses
PYMNTS
OCTOBER 28, 2019
Losses at some HSBC businesses are causing the bank — Europe’s largest — to restructure, CNBC reported Monday (Oct. HSBC group CFO Ewen Stevenson announced plans to restructure the businesses with the greatest losses, its U.K. We haven’t yet sized what that means in terms of the restructuring.”. businesses.
How a CFO Adds Value: Cash Flow Forecasting
Beacon CFO Plus
SEPTEMBER 13, 2022
If you are weighing the benefits of outsourcing CFO services, consider this: Accurate cash flow forecasting can make or break your business. A forward–thinking CFO can guide the forecasting process in support of your key business initiatives. The post How a CFO Adds Value: Cash Flow Forecasting appeared first on BeaconCFO Plus.
Debt Restructuring or Debt Consolidation – Which is Right for You?
CFO Selections
JUNE 20, 2022
Debt restructuring and debt consolidation are two debt management strategies that companies can use when they need help getting out from under their debt. Obviously, you cannot simply make business debt disappear. Wouldn’t that be nice?!) But what you can do is make it more manageable, so it is easier to pay off.
Edtech startup Scaler appoints Tapan Jindal as CFO
CFO News
JANUARY 24, 2024
He will also closely collaborate with existing teams to strengthen the overall financial framework and restructure specific systems to prepare the company for its next phase of growth and achieve profitability.
Recognizing the Right Time to Enlist an Interim CFO for Your Business Success
E78 Partners
AUGUST 24, 2023
Knowing when to bring in an Interim Chief Financial Officer (CFO) can be a strategic decision that significantly impacts a company’s trajectory. Unlike a permanent CFO, an interim professional is often engaged for specific projects, transitions, or critical periods of change.
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The CFO's Role in Preparing for Upcoming Economic Storms
Focus CFO
JUNE 28, 2023
Businesses that have an embedded in-house Chief Financial Officer understand the pivotal role the CFO plays in proactively preparing the business for, and guiding it through, economic and market storms. By taking decisive, information-based action, the CFO guides the business toward the buffalo approach—proactively navigating the challenges.
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Benefits of a Fractional CFO in a recession
CFO Share
SEPTEMBER 19, 2022
The threat of a recession in 2023 could make you reluctant to take on new contractor expenses but engaging a Fractional CFO should be one major exception. Not sure if a fractional CFO is the right hire for your business? Before any planning can be done, a CFO will help you understand what a recession means for your business.
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CFO Leadership Council Highlights Our First 10 DEI Ascend Honorees
CFO Leadership
AUGUST 12, 2021
The CFO Leadership Council proudly highlights our very first ten Diversity, Equity, and Inclusion Ascend Honorees! The Ascend program is an opportunity for Senior Finance Executives from underrepresented groups to join The CFO Leadership Council. Fisher Senior VP & CFO American Hospital Association. Christina Y. Christina Y.
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CFO for Manufacturing Companies
Michigan CFO
SEPTEMBER 29, 2021
In the world of manufacturing, where processes run thick and bottlenecks are known to arise, CFO services play a critical role in helping organizations steer towards efficiency, profitability, and longevity. The Evolving CFO Role in a Manufacturing Company. Using CFO Services to Overcome Challenges in Manufacturing.
Coronavirus outbreak: 43% of APAC firms might restructure operations
Future CFO
FEBRUARY 26, 2020
Many companies in Asia Pacific will be forced to restructure operations to stay afloat if the new Coronavirus outbreak (COVID-19) worsens, said Tricor Group that recently released its COVID-19 Business Sentiment and Resilience Barometer Report. . Key findings .
Welcome Mike Ferguson
Focus CFO
APRIL 16, 2023
We are pleased to announce that Mike Ferguson has joined the FocusCFO team, bringing experience and skills to his new role as Fractional CFO. Mike has extensive experience with acquisitions and divestitures and, as CFO, restructured the financial profile of a medium-sized business undergoing financial stress.
SpiceJet significantly restructuring balance sheet: Ajay Singh
CFO News
MARCH 20, 2023
The cash-strapped carrier has been facing multiple headwinds though it reported a multi-fold rise in net profit to Rs 107 crore in the three months ended December 2022, helped by better performance in passenger and cargo businesses.
L&T Finance group CFO focuses on retail, aims 25pc CAGR in 3-4yrs
CFO News
JUNE 11, 2023
The group is currently undergoing a restructuring process where it will amalgamate its finance subsidiaries, L&T Finance, L&T Infra Credit Limited, and L&T Mutual Fund Trustee Limited with the listed L&T Finance Holding Ltd to simplify the corporate structure and enable greater focus on retail financing.
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Not business as usual: How COVID-19 reshaped the narrative for Malaysia Aviation Group
Future CFO
JANUARY 2, 2024
At the backend, a fast-paced financial restructuring was taking place. “We MAG was one of the first aviation groups to embark on a restructuring during the pandemic. This proved to be a challenging feat as MAG has over 75 major creditors/lessors from across the world impacted by the restructuring.
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