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CFO JournalCorporate finance executives looking to cut their debt costs this year are likely to find one popular tool isn’t as attractive as it was when the Federal Reserve was aggressively raising interest rates in 2022.
Organizations: Federal Reserve
The Tragedy of Being a New Mom in America
  + stars: | 2023-08-03 | by ( Anna Mutoh | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/mothers-mental-health-women-postpartum-depression-7b548f43
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/corporate-esg-requirements-are-about-to-ramp-up-heres-how-cfos-can-prepare-1113a8d2
Persons: Dow Jones
CFO Journal Summer Reads: 10 Book Recommendations
  + stars: | 2023-05-27 | by ( Anna Mutoh | ) www.wsj.com   time to read: 1 min
Author Michael Lewis makes WSJ CFO’s summertime reading list with his book, ‘The Premonition.’ Photo: Getty ImagesIt has been a tumultuous first few months of 2023 for finance chiefs, who have had to grapple with inflation and high interest rates, a banking crisis and a fitful return to work as the pandemic moves to the rearview mirror. The rest of the year doesn’t figure to be much smoother, considering the debt-ceiling standoff, looming climate-disclosure regulations and an economic slowdown that has seemed just around the corner for months now.
Accounting majors in the class of 2023, the first to enter a postpandemic professional world, will find no shortage of demand for their services as the industry grapples with a scarcity of candidates. Photo: Thomas Wells/The Northeast Mississippi Daily/Associated PressGraduates entering the workforce this year who are considering careers in accounting should see plenty of demand for their services as the industry grapples with a dearth of candidates. But even so, they may find what companies are willing to pay them underwhelming, particularly given the rigorous academic and testing requirements required to follow this career path. Recruiters say experienced accountants are often moving into new roles in finance and technology. And the exodus is expected to worsen as baby boomers leave the workforce, with 75% of certified public accountants retiring or close to retiring in the next 15 years, according to the American Institute of CPAs.
Bank of America’s CashPro app uses machine-learning technology for financial-scenario forecasting. For risk-averse accountants and chief financial officers, change can be hard. But artificial intelligence and other advanced technologies are coming, and financial officers who don’t adapt may find themselves left behind. This is especially true when the technology is moving faster than regulation. “There will need to be guardrails and CFOs would like to see where information is being shared,” Mr. Corson said.
Silicon Valley Bank marketed itself to startups, which may have leaned more heavily on it for financial guidance in the absence of an in-house chief financial officer. When Kevin Lee on the morning of March 9 first heard that Silicon Valley Bank could be in trouble, the 32-year-old co-founder of Immi instant ramen frantically called his partner. “I’m concerned there will be a bank run,” Mr. Lee said he told Kevin Chanthasiriphan , 34, who soon after wired their entire $15 million in capital out of SVB and into fintech provider Brex Inc. where they also had a business account. Messrs. Lee and Chanthasiriphan, who call themselves the “the Kevins,” launched Immi three years ago, reinventing ramen as a low-carb, high-protein and fully plant-based instant food. Just a week before the run on SVB, the Kevins announced a $10 million series A funding that included a bevy of celebrity investors such as tennis player Naomi Osaka , R&B singer Usher and speedskater Apolo Ohno , and were poised for a period of rapid growth with revenue up sixfold last year.
Takeda CFO Costa Saroukos in a 2018 picture. Mr. Saroukos joined Takeda in 2015 as CFO of Takeda’s European and Canadian operations before he was elevated to global CFO in 2018. WSJ: What did you learn from your deal-integration experiences that helped with the Takeda and Shire integration? ” — Costa Saroukos, CFO of TakedaAnother reason speed is important is to avoid losing talent. We broadened CFOinUrpocket to be used globally across 80 countries for the combined Takeda and Shire offices.
Critical decisions made as CFO: Mr. Jepsen allowed the company to incur higher costs to expedite shipping for parts to factories and deliveries to customers. Enphase faced pressure last year from higher costs and the effects of a strong U.S. dollar. Ken Jacobson, CFO of Avnet Photo: AVNET INC.Ken Jacobson, Avnet Inc.Age: 45Career path: Mr. Jacobson, who had previously served as interim CFO from 2017 to 2018, stepped in officially as CFO in September. Mr. Jacobson says Avnet’s interest expenses on its debt have almost tripled over the past year. While there was some attrition in the beginning, it hasn’t been as bad as other companies, Mr. Jacobson said.
Bed Bath & Beyond’s $1 Billion Stock Deal: What to Know
  + stars: | 2023-02-15 | by ( Anna Mutoh | ) www.wsj.com   time to read: 1 min
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