Financial Reporting: Page 2


  • Allen Weisselberg arrives at court
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    Stephanie Keith via Getty Images
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    Ex-Trump CFO could face prison again, experts say

    Judge Arthur Engoron shone a spotlight on the ex-CFO’s credibility in a Tuesday email, asking attorneys in the Trump civil fraud case for clarity on the potential plea.

    By Feb. 6, 2024
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    Clorox says it incurred $49M in costs from 2023 cyberattack

    The breach caused system disruptions that led to order processing delays and “significant product outages,” negatively impacting net sales and earnings.

    By Feb. 6, 2024
  • U.S. mint Explore the Trendline
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    tsimage via Getty Images
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    Trendline

    Top 5 stories from CFO Dive

    Cooling inflation, an M&A rebound and an AI reckoning are among the top forces that could shape the corporate finance world this year.

    By CFO Dive staff
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    Solo Brands appoints Vitamin Shoppe exec as new CFO

    The leadership swap comes after Solo replaced its CEO and lowered its revenue guidance for 2023 following disappointing sales.   

    By Feb. 5, 2024
  • IT Technician with a Laptop Computer and Black Male Engineer Colleague are Talking in Data Center while Walking Next to Server Racks. Running Diagnostics or Doing Maintenance Work.
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    gorodenkoff via Getty Images
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    Enterprise cloud spend jumped in Q4, nudged upward by AI

    The power balance among AWS, Microsoft and Google Cloud shifted slightly as infrastructure services saw the largest ever quarter-over-quarter market expansion recorded by Synergy Research Group.

    By Matt Ashare • Feb. 5, 2024
  • Allen Weisselberg departs court
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    Stephanie Keith via Getty Images
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    Ex-Trump CFO in perjury plea talks: NY Times

    A potential deal requiring ex-Trump CFO Allen Weisselberg admit to perjury comes as a ruling is imminent in the NY AG’s $370 million civil fraud case. 

    By Feb. 2, 2024
  • A photo of Sanofi headquarters in Paris, France.
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    Courtesy of Sanofi
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    Sanofi appoints Nestlé executive as new finance chief

    François-Xavier Roger will replace current CFO Jean-Baptiste Chasseloup de Chatillon as Sanofi continues a research pivot and cost-cutting drive.

    By Delilah Alvarado • Feb. 1, 2024
  • SEC wins legal victory against former tech CFO in accounting fraud case

    Former CFO Karen Rosenberger is accused of helping software provider Synchronoss to engage in “long-running accounting improprieties.”

    By Jan. 31, 2024
  • Satya Nadella speaking at OpenAI Dev Day
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    Justin Sullivan via Getty Images
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    Microsoft rides AI fervor to $62B in sales

    The company’s move to incorporate AI has represented “a real pivot of our investment infrastructure,” CFO Amy Hood said.

    By Jan. 31, 2024
  • Aon pays $1.5M SEC penalty over key return rate discrepancies

    The Pennsylvania pension fund staff repeatedly raised questions about Aon’s return rate calculations, noting a 37 basis point discrepancy, the SEC found.

    By Jan. 29, 2024
  • Shot of armored truck in front of SVB headquarters
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    Justin Sullivan via Getty Images
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    TIAA sues SVB ex-CEO, ex-CFO to recoup investment losses

    The conduct of Silicon Valley Bank’s former leaders has come under heavy fire since its collapse last year, which marked the largest banking failure seen since 2008.

    By Jan. 29, 2024
  • An aerial shot of a corn processing complex
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    Courtesy of City of Marshall
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    Archer Daniels Midland investor sues firm, CEO, CFO, ex-CFO

    The proposed class action alleges ADM and top executives concealed the true financial picture of the agricultural giant’s nutrition business.

    By Jan. 26, 2024
  • Shot of Superdry storefront
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    Ian Gavan via Getty Images
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    Superdry CFO to depart as UK retailer warns of rough market conditions

    The departure marks the fourth finance chief to leave the troubled retailer in a half-decade.  

    By Jan. 26, 2024
  • Judges Or Auctioneer Gavel On The Dollar Cash Background
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    Avosb via Getty Images
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    Opinion

    Holding out for a bankruptcy ‘cram down’? Think again.

    C-suites should take a hard look at the true cost of bankruptcy before filing for Chapter 11, Lowenstein Sandler’s Kenneth A. Rosen writes. 

    By Kenneth A. Rosen • Jan. 25, 2024
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    David McNew via Getty Images
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    76% of companies link pay to ESG performance in rising trend: WTW

    The biggest companies are weaving ESG into pay incentives despite a backlash against the use of sustainability as a metric for corporate performance.

    By Jan. 24, 2024
  • Shot of glass window office buildings
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    olaser via Getty Images
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    CFO of beleaguered smart window manufacturer View to resign

    View’s finance chief is departing as the company scrambles to accrue enough capital to continue operating through 2024.

    By Jan. 24, 2024
  • A person wearing a white lab coat and goggles focuses on a plant-based hamburger and fries.
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    Courtesy of ADM
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    ADM shares plunge as CFO takes forced leave amid accounting probe

    Archer Daniels Midland named Ismael Roig interim finance chief as the board's audit committee and outside counsel conduct an investigation into accounting practices.

    By Jan. 22, 2024
  • AWS logo at Amazon event
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    Noah Berger via Getty Images
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    Amazon taps operations SVP for AWS CFO amid rocky cloud growth

    The long-time Amazon veteran will step into the top financial seat for AWS as the e-commerce retailer looks to bolster the cloud segment’s stale revenue growth.  

    By Jan. 19, 2024
  • Mickey Mouse waves before ringing the opening bell at the New York Stock Exchange
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    Drew Angerer via Getty Images
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    Disney’s board nomination fight with ex-CFO, Nelson Peltz heats up

    After being rejected by Disney as board nominees, ex-CFO Jay Rasulo and activist investor Nelson Peltz are now signaling plans to force a shareholder vote on the issue.

    By Jan. 18, 2024
  • People pass the JPMorgan Chase headquarters building on May 26, 2023 in New York City.
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    Michael M. Santiago via Getty Images
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    JPMorgan Chase takes ‘pragmatic and disciplined’ approach to AI

    The banking company is against “chasing shiny objects,” CFO Jeremy Barnum said during an earnings call.

    By Lindsey Wilkinson • Jan. 18, 2024
  • The Walt Disney company logo is displayed as traders work on the floor of the New York Stock Exchange.
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    Michael M. Santiago via Getty Images
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    Disney rejects ex-CFO Rasulo, Peltz as board nominees

    Disney’s board resisted pressure for a shakeup, opting instead for its own slate of 12 nominees including CEO Robert Iger.

    By Jan. 17, 2024
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    Scott Eisen via Getty Images
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    Cigna CFO takes on expanded role as head of benefits division

    Brian Evanko will serve as president and CEO of the Cigna Healthcare insurance division in addition to his position as chief financial officer.

    By Emily Olsen • Jan. 17, 2024
  • A general view of the entrance to the Citigroup office in Canary Wharf on November 17, 2008 in London, England.
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    Oli Scarff / Staff via Getty Images
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    Citi poured $12B into tech last year, retired nearly 400 legacy apps

    While efforts to modernize are underway, the company is operating at a loss and plans to cut 20,000 positions by 2024 as part of a broader restructuring.

    By Matt Ashare • Jan. 16, 2024
  • IRS building in Washington, D.C.
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    Zach Gibson via Getty Images
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    IRS streamlining falls short despite budget boost: Taxpayer Advocate

    Although improving some taxpayer services, the IRS has overstated its progress by claiming to answer 85% of calls, the national taxpayer advocate said.

    By Jan. 12, 2024
  • Donald Trump holds up news story of NY AG
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    Spencer Platt via Getty Images
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    NY AG, Trump clash in final $370M civil fraud tug-of-war

    Attorneys laid out their closing arguments in the NY AG’s $370 million civil fraud trial that has put accounting under a surprising spotlight.

    By Jan. 11, 2024
  • Drugstore Chain Walgreens To Buy Duane Reade
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    Joe Raedle / Staff via Getty Images
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    Walgreens on track to save $1B this year with new executive team

    Cost reductions, along with challenging market conditions, are critical roadblocks to address, executives said.

    By Jan. 9, 2024