Three large U.S. companies this week said goodbye to their chief financial officers, continuing a surge in CFO departures following months of relative stability. The Wall Street Journal reports that so far this year, 83 CFOs at Fortune 500 companies have left their posts, compared with 84 last year at the same time. But it took several recent departures…
While hundreds of California companies have moved to comply with the state’s women on boards law, the state has not penalized nor brought any enforcement against companies that have ignored aspects of it, from neglecting to file required disclosures to failing to recruit any women. Additionally, the data that has been published by the office…
As states other than California contemplate board quota laws and federal regulators consider legislation concerning mandated board-level diversity disclosure, the women on boards law in California so far has led to an influx of new directors with backgrounds in finance and technology who also hold C-suite roles. According to a new report from data intelligence…
Finance chiefs are changing jobs again after a slowdown in exits and recruitment in thespring, as the pandemic is forcing them to rethink their business models and adding to an already high workload. Three big public companies this week said their CFO would exit. General Motors Co.’s Dhivya Suryadevara is joining Stripe Inc., while Kelly Kramer,…
There are several reasons for boards to move on from a compensation consulting firm, and as the mandate facing comp committees increases in magnitude and scope, some comp consultants may not be the right fit any longer. According to data from public company intelligence provider MyLogIQ, 299 Russell 3000 companies switched comp consulting firms between 2019…
As the downturn has affected a growing number of companies, it has become plain that “no one is immune” from letting workers go, in the words of Richard Florida, who teaches economic policy at the University of Toronto. Yet as our most recent research shows, some companies are better inoculated than others from having to…
A great deal has been written about how the CEO jobs at America’s largest companies are almost exclusively held by white men. At the other end of the spectrum, the number of female chief executives of color is extremely small: only four. According to research by MyLogIQ, which uses artificial intelligence and machine learning to analyze…
As the time of year approaches when many board committees conduct reviews of director compensation, boards are pressing pause on annual increases to cash and equity retainers, and only making small surgical changes to compensation programs if it appears necessary due to leadership transitions. George Paulin, chairman and CEO of Frederic W. Cook & Co., says…
Boards should expect pressure from investors and regulators to disclose more information on workforce health and safety measures in light of the Covid-19 pandemic, experts say. Major investors say the current disclosures aren’t detailed enough, and a large group is pressuring the SEC to ramp up disclosure requirements on the effectiveness of companies’ human capital–related measures. The…
As bad as the pandemic job losses have been, with around 31 million Americans on unemployment rolls, it could actually have been worse. Some companies have managed to cut their labor costs to save money, without resorting to permanent layoffs — at least so far. In a recent survey of HR managers, outplacement firm Challenger, Gray & Christmas found…
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