EY CEO’s retirement sounds new leadership alarm

Carmine Di Sibio’s exit and the firm’s abandonment of “Project Everest” may signal a new era of leadership, as well as a new structure to complete the breakup of EY’s consulting and auditing arms.

By Elizabeth Flood • June 16, 2023

SEC delays final rule on cyber incident disclosure as industry pushes back

The agency was seeking prompt reporting of material cyber breaches and attacks, but faced a range of concerns from stakeholders.

By David Jones • June 16, 2023

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Navigating risk in turbulent times

CFOs must help their organizations mitigate risks by balancing the need for both growth and stability. 

By CFO Dive staff

Kroger execs still feel inflation’s pinch, glimpse relief

The grocery giant is still grappling with rising prices as well as the end of pandemic-era food benefits that is constraining budgets of many lower-income customers.

By Maura Webber Sadovi • June 15, 2023

Suppliers gained clout as DPO dipped: Hackett

The number of days payable outstanding —  a key gauge of cash flow health — fell 8% last year or 4.7 days, according to the Hackett Group.

By Chris Gaetano • June 15, 2023

Microsoft beefs up AI-powered business automation tools

The enhancements include new features aimed at helping managers, including in finance departments, reduce time spent on task planning and risk assessments, according to a blog post.

By Alexei Alexis • June 15, 2023

CFOs lower growth expectations, cut costs: Deloitte

Finance leaders are less willing to take on new risks and less optimistic about their companies’ financial prospects as their CEOs urge them to continue slashing costs.

By Grace Noto • June 15, 2023

Five Below poaches McDonalds alum for CFO

The extreme-budget retailer is reshuffling its C-suite, with Ken Bull’s promotion to COO and Kristy Chipman’s appointment to CFO.

By Elizabeth Flood • June 15, 2023

Citi CFO says tech initiatives will drive 5K job cuts this year

The bank has cut 1,600 jobs in the second quarter and expects a $300 million to $400 million uptick in expenses largely because of the severance costs, CFO Mark Mason said Wednesday.

By Suman Bhattacharyya • June 15, 2023

Wells Fargo CFO warns of commercial real estate weakness

Wells Fargo CFO Michael P. Santomassimo is the latest big bank executive to detail commercial real estate distress and its potential impact on lenders.

By Maura Webber Sadovi • June 14, 2023

CFO pleads guilty to $6M employment tax crime

The CFO willfully failed for several years to file required quarterly employment tax returns or pay taxes withheld from employees’ wages to the IRS, DOJ said.

By Alexei Alexis • June 14, 2023

EY Global Chairman walks out following failed split

EY’s planned split, announced in September, collapsed as the accounting giant continues to go through layoffs and other troubles culminating now in an early exit from their CEO.

By Elizabeth Flood • June 14, 2023

Generative AI revenues projected to reach $36B by 2028

The nascent generative AI market is poised for rapid growth in coming years, with total revenues projected to increase tenfold by 2028, S&P Global Market Intelligence says.

By Alexei Alexis • June 13, 2023

Chico’s promotes senior finance exec to CFO seat

As Patrick Guido moves on to “another opportunity,” former interim CFO and current chief accounting officer David Oliver takes the financial helm.

By Elizabeth Flood • June 13, 2023

Newly-minted Bloomreach CFO keeps eye on ROI

Demonstrating a clear, immediate ROI can help tech companies stay on a path to growth.

By Grace Noto • June 13, 2023

As software migrates to cloud, IT spending waste follows

Enterprise technology asset managers are shifting their focus from desktops and data centers to containers and cloud, as SaaS solutions proliferate.

By Matt Ashare • June 13, 2023

Median cost of ransomware per incident hits $26K: Verizon

In some cases, threat actors are demanding higher ransom payments from companies “just because they believe they can get it,” according to Verizon’s Chris Novak.

By Alexei Alexis • June 13, 2023

Singapore Airlines promotes insider to CFO amid C-suite shakeup

After his work with the Air India merger, CFO Tan Kai Ping is leaving his post as CFO to take on the role of chief operating officer.

By Elizabeth Flood • June 12, 2023

Appfire CFO touts ‘people-first’ approach to profitability

Developing a people-first philosophy can be tricky, but it can help better position companies for long-term success.

By Grace Noto • June 12, 2023

Paysend picks Amex alum for Americas CFO seat

The London-based cross-border payments company has tapped a veteran Miami-based financial executive to help drive its expansion into the U.S.  

By Maura Webber Sadovi • June 12, 2023

Building resilience, funding sources critical to riding out a storm

The more efficiently you run your operations, the longer your company’s cash cushion will last. Industry-specific tools can help, Luke Voiles writes.

By Luke Voiles • June 9, 2023

Strong demand helps Brown-Forman thwart high materials costs

The company’s CFO touts demand for high-end spirits products and the return of pre-pandemic travel that helped boost profit 36% year over year.

By Suman Bhattacharyya • June 8, 2023

California lawmaker weighs in on FASB crypto proposal

Sherman, a ranking member of the House Financial Services’ Subcommittee on Capital Markets, has sought to ban crypto — which he has called “an electronic pet rock.”  

By Maura Webber Sadovi • June 8, 2023

Cyber startup DTEX snatches ‘high-growth’ CFO

The appointment will support DTEX’s growth trajectory amid rising demand for its insider risk management services, the company said.

By Alexei Alexis • June 8, 2023

Down rounds could be ‘lightning rod’ for CFO action

Despite their stigma, down rounds can help CFOs get the financial buffer they need to weather economic dips and set the company back on a course toward growth.  

By Grace Noto • June 8, 2023

Couche-Tard names new CFO

Filipe Da Silva, who has served as senior vice president of finance since March, will succeed Claude Tessier, who is retiring on July 1.

By Brett Dworski • June 8, 2023