‘Inflation persistence has jumped’: Richmond Fed

The Latest

• 

  Sonos CFO departs for Taser-maker Axon

  CFO Brittany Bagley exits Sonos following disappointing fiscal third quarter revenue results, with the speaker company partially blaming inflation for a lackluster quarter.

  Strategy & operations

• 

  Société Générale exec pivots to eFuels CFO

  Société Générale Managing Director Roberto Simon took on the CFO seat for eFuels company HIF Global as the company consolidates plans to help “decarbonize” 5 million cars.

  Technology

• 

  Venture lenders offer CFOs a pricey lifeline

  Venture debt remains an option for companies that have seen a number of financing paths narrow amid global economic turmoil.

  Strategy & operations

• 

  Inflation slows but probably not enough to deter Fed tightening

  Central bank officials say they need to see consistent signs that price pressures are falling toward their 2% target before they declare victory against inflation.

  Strategy & operations

• 

  Bankrupt Revlon to pay $165,000 monthly for interim CFO

  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.

  Financial reporting

• 

  Brink’s taps Eaton, PwC veteran as CFO

  The Brink's Company, know for its iconic trucks that transport cash, has tapped a new CFO as its long-time finance chief prepares to retire. 

  Strategy & operations

• 

  IFF CFO sees ‘meaningful’ cost increases next year

  International Flavors & Fragrances CFO said the ingredient maker is rethinking contracts as part of its effort to combat inflation. 

  Financial reporting

• 

  AMC Networks promotes CFO to CEO, names new finance chief

  Patrick O’Connell is joining AMC as CFO while the current finance chief moves up the ladder.

  Strategy & operations

• 

  Tanger REIT continues CFO hunt, highlights ESG

  Two months after announcing the abrupt departure of James Williams, Tanger REIT is continuing its CFO search. 

  Financial reporting

• 

  Inflation anxiety hits highest level since 1979: NFIB

  Small businesses flagged several reasons for pessimism beyond price pressures, including a tight labor market and crimped supply chains, NFIB found in a survey.

  Strategy & operations

• 

  Plummeting tech valuations lead to record $23B SoftBank loss

  The slump in global technology stocks, rising inflation and a weaker yen led Japanese bank SoftBank to report a record $23 billion loss.

  Financial reporting

• 

  Crypto miner Mawson’s CFO resigns

  Finance chief Hetal Majithia is exiting the company roughly one year after taking the CFO seat.

  Strategy & operations

• 

  Companies reporting weak earnings go unpunished

  Several CFOs have announced disappointing second-quarter earnings while not triggering a decline in their company’s share price, FactSet said.

  Financial reporting

• 

  Bankrupt Celsius pulls bid to hire ex-CFO

  Cryptocurrency firm Celsius pulls motion to tap its former CFO as a bankruptcy advisor following legal objections filed from investors.

  Financial reporting

• 

  CFOs to boost IT, tech budgets in face of inflation: Gartner

  Forty percent of CFOs are planning to hike up IT spending in the next 12 months, with many seeking to tap automation to collect key financial insights.  

  Technology

• 

  ‘Hot’ job gains bolster case for aggressive Fed tightening: economists

  Payrolls grew last month at more than twice the consensus forecast, belying concerns that the U.S. economy is in recession.

  Strategy & operations

• 

  Tapestry Inc. CFO to serve hybrid COO role

  Tapestry CFO Scott Roe will also take on the company’s COO role, the latest in a line of CFOs who are taking on additional responsibilities.

  Strategy & operations

• 

  Just 9% of finance departments have primary ESG oversight: survey

  Evidence of loose internal controls related to environmental, social and governance (ESG) data comes as the potential cost of companies getting ESG reporting wrong are rising. 

  Strategy & operations

• 

  Payments companies swap out CFOs

  Amid macroeconomic pressures, FIS, PayPal, MoneyGram and Shift4 all appointed new CFOs this week. The trend may also mean they’re paying more for them.

  Strategy & operations

• 

  Remittance company MoneyGram appoints new CFO

  Brian Johnson enters the role in the wake of a pending acquisition and litigation with the CFPB.

  Strategy & operations

• 

  WeWork plans to raise rates in stronger markets

  CFOs are wrestling with how much to spend on office real estate as the shift to hybrid work has accelerated.  

  Financial reporting

• 

  SEC should require global tax disclosure: transparency group

  Spotty public disclosure by U.S. companies on foreign tax risk may erode investor confidence and increase the odds of financial market instability, according to the FACT Coalition.

  Financial reporting

• 

  Bankrupt Celsius, investors clash over former CFO advisory role, allege double dipping

  Investors are taking steps to block Celsius from tapping former CFO Rod Bolger as a bankruptcy advisor, a bid that comes with a costly $92,000 monthly price tag for the insolvent company.

  Financial reporting

• 

  CFOs facing tight labor market revise pay, reward plans

  Companies are shifting how they attract employees as many “help wanted” signs go unanswered, Willis Towers Watson said.

  Strategy & operations

• 

  Presidio names former IQVIA, S&P exec as new CFO

  Manny Korakis is joining Presidio as it has benefited from a surge in demand for IT services during the pandemic.

  Strategy & operations

More stories