Uncategorized

Starbucks named a 16-year company veteran as its new finance chief as it works to recover from the coronavirus pandemic, which hurt its sales across the globe.

The Financial Reporting Council, the U.K.’s accounting watchdog, on Wednesday said Deloitte and two former partners were “culpable of serious and serial failures” in their audits of Autonomy, wrapping up a yearslong investigation after findings of misconduct.

Here are 10 things that could be top of mind for CFOs in 2021.

Efforts to skip the London interbank offered rate for new transactions by end of next year are forcing finance executives to take stock of their contracts, communicate with banks and investors and adjust their interest-rate cost calculations.

Yogurt maker Chobani hired a seasoned food and consumer-goods executive as its next finance chief as it expands into new food categories.

Chief financial officers at U.S. companies are optimistic the country’s economy as a whole—and their businesses, in particular—will recover in 2021 despite worries about potential tax rate changes and higher labor costs.

Eaton Corp. PLC’s finance chief Richard Fearon has managed 71 acquisitions and 50 sales since he began his tenure in April 2002, reshaping the portfolio of a business that was once known for making vehicle parts. Mr. Fearon, who will retire in March, talks to CFO Journal about the changing role of the chief financial officer, the pandemic and why cash remains king.

Volkswagen AG’s new finance chief, a company insider, will be tasked with boosting efficiencies to free up funds as the German auto giant looks to ramp up its spending on electric vehicles.

Chewy’s CFO plans to ramp up the number of products the pet-supply retailer is offering and considers ways to monetize its new, free telehealth service for animals.

Integrating two businesses after a merger or an acquisition is becoming even more of a challenge as the pandemic continues to disrupt how businesses operate. The missing piece: personal interaction.