Articles about Cfo

Uber launch party by https://www.flickr.com/photos/5chw4r7z/ CC2.0 sharelalike attribution https://creativecommons.org/licenses/by-sa/2.0/

Why does Uber keep its drivers' pay so low? Ex-CFO: 'Cos we can'

In an interview on Sunday's episode of Wall Street Week, Mike Novogratz, principal and director of investment firm Fortress Investments, who was speaking about corporate greed and income inequality, explained his thoughts with an anecdote about former Uber CFO Brent Callinicos. Callinicos, who had previously been a bean-counter …
Google's Mountain View Headquarters

Google nabs Morgan Stanley CFO to replace Patrick Pichette

Google have announced that Ruth Porat, currently Chief Financial Officer at Morgan Stanley, will be joining the Mountain View management team as CFO. Current CFO Patrick Pichette announced his retirement to go backpacking earlier this month. Google stated that he would be staying on board to "ensure an orderly transition, which …
Uber surge pricing during Sydney seige

Cab for Callinicos! Uber's CFO moves on after just two years

Brent Callinicos is to step down as CFO of Uber after two years at the ride-sharing company in order to spend more time with his family. In an email published by the WSJ, CEO Travis Kalanick offered a laudatory eulogy dressed up as a HR memo for investors: "Almost two years ago, I brought on one of the great financial …

Cloud storage upstart boasts of swollen biz, hires the CFO who sold Archivas

Comment Cloud storage gateway startup Nasuni reports that it experienced 300 per cent growth in 2014* and has just recruited a CFO who helped sell the founder's previous company – Archivas – to HDS for $127m in 2007. Nasuni has recruited Scott Dussault to be its combined CFO and COO, saying he's experienced at scaling a company for fast …
Chris Mellor, 29 Jan 2015
Google logo

Google dangles $70m before new CFO to lure her from Wall Street

It took a $70m golden hello to entice Ruth Porat – Google's new chief financial officer – away from her role at Morgan Stanley. According to a filing with the US Securities and Exchange Commission, the material terms of Ruth Porat's offer letter included not only an annual base salary of $650,000, but also a set of three grants …
ISE componentry

X-IO X-CFO X-Forwarded-For more time with her family

Sealed-box-of-storage-tricks supplier X-IO has lost its chief accounting financial officer. Carole Gottlieb has decided to resign after being head bean-counter since Ed Welsh went in June 2014. X-IO spokesperson Bill Miller told us: "Carole will be leaving X-IO. She has invested an exemplary level of effort and commitment to …
Chris Mellor, 08 Apr 2015
Beans

David Goulden tosses away CFO cap, holds onto EMC II CEO crown

+Comment EMC Info Infrastructure boss David Goulden has given up the role of CFO for the whole EMC federation, belatedly discovering what most of us know already — being a chief exec is a full-time job. EMC uber-CEO Joe Tucci runs the EMC fed with three subsidiaries: VMware with CEO Pat Gelsinger; Pivotal with Paul Maritz running the …
Chris Mellor, 02 Oct 2014

HP says it will sue former Autonomy CFO Sushovan Hussein

HP has confirmed that it plans to sue Sushovan Hussain, the former chief financial officer of data analytics software firm Autonomy, whom HP claims "was one of the chief architects of the massive fraud" that forced HP to write down $8.8bn of the $10.2bn it paid to acquire Autonomy in 2011. In documents [PDF] filed with the US …
Neil McAllister, 04 Aug 2014
Photo of a vintage analog modem with an acoustic coupler

NBN Co pulls in new CTO, CFO

NBN Co, which has completed its executive makeover, with a new CTO and CFO, is embroiled in a revival of an old debate: whether “up to” descriptions of broadband speeds are permissible in consumer law. Fuelling conspiracy theories about the NBN is the appointment of News Limited veteran Stephen Rue as CFO, while far less …
Measuring up Apple

Apple CFO's departure signals changing of guard

Apple will soon find itself having to replace the man who oversaw the company's finances through its most prosperous years. Peter Oppenheimer has announced his intent to step down from the company by September, vacating his role as Chief Financial Officer to Luca Maestri and riding off into the sunset to take a board position at …
Shaun Nichols, 05 Mar 2014
Red Hat Enterprise Linux

Red Hat CFO reaches for eject cord after Street-beating performance

Red Hat chief financial officer Charlie Peters announced on Wednesday that he's stepping down from the company, even as it reported another quarter of strong earnings that beat even its own guidance. The Linux kingpin reported $455.9m in total revenues for the third quarter of its fiscal 2015, which outperformed Wall Street's …
Neil McAllister, 19 Dec 2014
Terror at 20,000 feet

'Everywhere I look ... it's bad': HP claims email shows Autonomy CFO panic, pre-buyout

In the latest court filing in HP's rancorous legal squabble with former Autonomy execs, the tech giant has revealed what it describes as a damning email from ex-Autonomy CFO Sushovan Hussain, prompting a spokesperson for the latter to again accuse HP of "smear tactics." HP is seeking to settle a lawsuit brought by its own …
Neil McAllister, 06 Sep 2014
Making conversation Google Glass style

Google's chief finance officer quits to go backpacking

Google's chief finance officer Patrick Pichette has quit his job to go backpacking. In a filing to the Securities and Exchange Commission yesterday, Google said Pichette, who is 52, had told the company he will retire. "The effective date of his retirement has not yet been determined," it said. "Patrick indicated that he …
Kat Hall, 11 Mar 2015
The Register breaking news

Yahoo! boss! boots! out! CFO! and! Google! kisses! up! for! future! search! deal!

It's easy for Google chairman Eric Schmidt to be playful about a future search deal with Yahoo! now that ex-Chocolate Factory Golden Girl Marissa Mayer is at the helm of the Purple Palace. Schmidt apparently hinted at just such a search pact on Tuesday. At present, Yahoo!'s search is powered by Microsoft's Bing – but there's …
Kelly Fiveash, 26 Sep 2012
The Register breaking news

CFO Seifert finds AMD's executive exit door, walks through it

The personnel changes in AMD's executive suites continue with the resignation of the company's CFO, Thomas Seifert, on Monday. "Seifert's departure is not based on any disagreement over the company's accounting principles or practices, or financial statement disclosures," the company assured investors in a statement announcing …
Rik Myslewski, 17 Sep 2012
Fluffy grey ragdoll cat relaxes next to laptop.

Distribution of cream among EMC executive fat cats revealed

Fancy finding out how much EMC fat cats earn? Read on. Total compensation – meaning share options, salary and bonuses – for the top execs at EMC Information Infrastructure (EMC II) in 2014 looked like this: Joe Tucci (EMC Chairman & CEO) – $11,203,318 David Goulden (EMC II CEO) – $10,531,257 Howard Elias (President & COO …
Chris Mellor, 23 Mar 2015
The Register breaking news

Zynga CFO cuts out the middleman and moves to Facebook

Sinking ship Zynga has lost yet another senior executive, as chief financial officer Dave Wehner abandons the firm for a glittering career at Facebook. Zynga said that Wehner had resigned for a "senior finance position" at the social network that more or less provides Zynga's revenues. "Dave remains a good friend to us all and …
The Register breaking news

Apple denies reported plan to deep-six CFO Oppenheimer

Apple has reportedly been fishing around for a new chief finance officer, even though the iPhone and Mac vendor has strongly denied it is mulling a replacement for its current top bean counter. According to Bloomberg, which cites sources familiar with the situation, Apple asked Blackstone Group's finance boss Laurence Tosi to …
Kelly Fiveash, 07 Jan 2011
management strategy3

CFO warns IBM's 'underperforming' storage crew: We'll take 'substantial action'

Analysis IBM's first quarter 2013 results were disappointing, and if you're in storage and servers at Big Blue, it appears the numbers guys are focusing on some of your product lines. In the earnings call, CFO Mark Loughridge said: "There are parts of our business that are in transition or have been under-performing like elements of our …
Chris Mellor, 23 Apr 2013
DirecTV

AT&T takes issue with Netflix on DirecTV gobble

AT&T has fired a fresh salvo in its exchange with Netflix over the proposed acquisition of DirecTV. The US telecoms giant issued a filing with the FCC disputing the claims made by Netflix that its would-be merger is an antitrust concern. "Before it began pressing for deal conditions in support of its own business agenda, …
Shaun Nichols, 08 May 2015
Wall of Spam. Pic: freezelight

Delphix hires anti-PR bloke Silicon Valley Watcher as head of PR

Gearing up for an IPO, copy data virtualiser startup Delphix has hired veteran blogger Tom Foremski as its communications editor, a CFO and corporate comms head. Delphix categorises its software as providing data-as-a-service (DaaS) and it makes production data available to test and dev', as well as other purposes without the …
Chris Mellor, 11 May 2015
Dial before you dig

Telstra CEO David Thodey retires

The CEO of Australia's dominant telco, Telstra, will step down in May. David Thodey's spent six years in the carrier's big chair, but has "announced his retirement" according to Telstra's canned statement on the matter. That statement also points out that Telstra's market cap and share price have just about doubled during …
Simon Sharwood, 19 Feb 2015
Cisco CEO John Chambers speaking at Cisco Live! 2014

Cisco ends Q1 an inch ahead of guidance

Cisco has farewelled its chief financial officer after announcing results that showed a still-beating heart somewhere in the giant switch market. Net income for the Borg's first quarter was reported at US$1.8 billion, on revenue of $12.2 billion, about US$40 million ahead of Wall Street's expectations. The company also announced …
Flying pig

NBN Co numbers suggest FTTP build could be done for close to Labor's budget

The real cost of completing Australia's National Broadband Network (NBN) in its originally-planned fibre-to-the-premises configuration may well have been close to the $AU43 billion first budgeted, according to data presented by NBN Co's CEO and CFO to a Senate Estimates hearing. Yesterday, CEO Bill Morrow and CFO Stephen Rue …
Blood image

Ericsson unplugs 2,200 more staff

Ericsson's move to focus on software is to hit another 2,200 jobs in Sweden, the telco vendor has announced. The cuts focus on roles in R&D and supply, the company's statement says, but admin and sales roles will also be affected, along with external consultants. The vendor says R&D remains important, but reducing the number of …
Files in manager's desk drawers: manila folder marked "Redundancies". Image via shutterstock

HP Enterprise Services staff jog on, waving fat redundo cheque

HP has waved goodbye to a bunch of Enterprise Services staffers across Europe as it edges closer to the end of a multi-year job culling exercise and the big corporate split. Some 55,000 employees will have left the grand old lady of tech by the end of October when the programme – launched in 2012 – crosses the finishing line. …
Paul Kunert, 12 May 2015

Overland Storage becomes part of Sphere3D

Overland Storage is merging with Sphere 3D; two loss-making companies hoping to come good by coming together. Overland has become a wholly-owned subsidiary of Canadian Sphere 3D, and Sphere 3D Corporation will trade on Nasdaq. Both boards approved the deal as did Overland's shareholders; 99 per cent of the shares were voted in …
Chris Mellor, 05 Dec 2014

Cash-happy Quantum is poised to enter the HPC market

Quantum's confirmed fourth quarter and full fiscal 2015 results were better than the prelim numbers, with full year net income the highest in more than five years, and it's aiming to move into high-performance computing storage. Q4 revenues were $147.8m (the preliminary figure was $145m) with net income of $12.9m (prelim: $12m …
Chris Mellor, 07 May 2015

SPLITTERS! Symantec cleft in twain

The reports have been confirmed: Symantec CEO Michael Brown will split the unwieldy business into separate security and information management concerns, thus undoing the 2004 Veritas acquisition. Brown has moved quickly after his confirmation in the role to lift the cleaver. The San Andreas-style fault running through the heart …
Chris Mellor, 10 Oct 2014
firing range - target in cross hairs

Citrix warns it will miss Q1 earnings guidance

Citrix has announced that it will not deliver the financial results it promised the markets. “Revenue for the quarter is expected to be in the range of $755 million to $760 million, below the company's guidance of $780 million to $790 million,” says in its mea culpa preliminary Q1 results released today. “Net income for the …
Simon Sharwood, 10 Apr 2015
Ship in trouble

Standard General bids to save RadioShack from oblivion

Historic retailer RadioShack, currently under Chapter 11 bankruptcy protection, will learn its fate today, as its assets go up for auction, although its options for survival look distinctly limited. A $145.5m bid from Standard General LP, a hedge fund which is also one of RadioShack’s lenders, could save 9,000 jobs and 1,723 out …
Simon Rockman, 23 Mar 2015

Tax shouldn't be taxing – unless you're Barracuda Networks

Barracuda Networks reported a satisfyingly chunky revenue rise for its final 2015 quarter and full year, ended February 28, but losses dove unexpectedly deep due to taxation manipulations. Revenues for the fourth fiscal 2015 quarter were US$72.2m, up 19.7 per cent on the year-ago's $60.3m, and 2.6 per cent higher sequentially. …
Chris Mellor, 29 Apr 2015

Microsoft CFO quits as quarterly results fail to sparkle

Microsoft has released its financial results for the third financial quarter of 2013 and the results make uncertain reading for CEO Steve Ballmer, who is also about to lose his chief financial officer Peter Klein. Redmond reported revenues of $20.49bn for the three months ended 31 March, up 17.2 per cent year-on-year, and …
Iain Thomson, 18 Apr 2013
David and Goliath in the Valley of Elah

Mutant upstart Nimble embiggens revenues – and losses, too

Hybrid array storage start-up minnow Nimble Storage saw revenues grow strongly in its latest quarter, though not enough to trouble mainstream storage vendors. Revenues in its first fiscal 2016 quarter, ended April 30, were 53 per cent higher than a year ago at $71.3m, with a net loss of $29m: it was $19.6m a year ago. …
Chris Mellor, 27 May 2015
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Symantec: Look at our Q4 numbers ... no, not those ones

The road to separation continues to be anything but smooth for Symantec’s security operation, particularly on the consumer front, as it again suffered from sales shrinkage, unlike the breakaway storage biz. In the last set of full year numbers from the firm, sales fell three per cent to $6.5bn, including a four per cent slip in …
Paul Kunert, 15 May 2015
management regulation2

IBM sued for talking up semiconductor business it couldn't give away

A US public pension fund has filed a class-action lawsuit against IBM, claiming the company misrepresented the value of the semiconductor business it offloaded to GlobalFoundries in October. The suit filed by the City of Sterling Heights Police & Fire Retirement System in Michigan accuses IBM of having inflated its own share …
Neil McAllister, 03 Mar 2015
HP

HP lifts lid on Autonomy lawsuit claims, but Lynch cries BOLLOCKS

On Tuesday, HP made public the details of the lawsuit it has filed against former Autonomy executives Mike Lynch and Sushovan Hussain in the UK, in what is just the latest round in litigation that is only likely to get uglier as the suit progresses. "HP confirmed today that Particulars of Claim against Lynch and Hussain were …
Neil McAllister, 06 May 2015
ESO image of a foggy globular cluster

Redshift is fastest growing AWS service ever, says Amazon

AWS Summit Amazon’s Redshift data warehouse is the fastest-growing service in AWS’s nine-year history, according to Amazon.com chief technology officer Werner Vogels, who told the AWS Summit in London that the old metric of measuring AWS size by raw objects is now outdated. Vogels told the event: “One of the services that’s been on fire is …
Gavin Clarke, 15 Apr 2015

Judge OKs HP's cash-free settlement plan in Autonomy investor suit

HP has won court approval of a deal that would settle a lawsuit brought by shareholders over HP's botched acquisition of software maker Autonomy. US District Judge Charles Breyer has granted preliminary approval of the latest version of HP's proposed settlement, Bloomberg reports, despite having rejected similar proposals twice …
Neil McAllister, 13 Mar 2015

Apple finance overlord Oppenheimer: I love Apple, but I gotta get this pilot licence. See ya

Apple's chief bean counter Peter Oppenheimer – the man who has been a constant during Apple's dark pre-iPod days and amid the meteoric rise since – is to call it a day at the end of September. The Cupertino finance lord manages all the grey aspects of the colourful tech vendor's biz including treasury, information systems, …
Paul Kunert, 04 Mar 2014
management cio1

IBM: We've got the shiny new kit. Now we need to polish the sales teams

IBM has finally gone public with some details of the company-wide restructure it initiated months ago to help stop the rot. As exclusively revealed in January, Big Blue struck off the old world silos of hardware, software and services, instead opting to go to market with units including Systems, GTS, Commerce, Security and …
Paul Kunert, 21 Apr 2015
The Register breaking news

Intel gives former CFO Bryant the chair

Chip giant Intel has named Andy Bryant – its former CFO and current executive vice president in charge of its technology, manufacturing, and services operation – as vice chairman, and tapped him to become chairman of the board next May. Bryant came to Intel in 1981 after stints at Ford Motor Company and Chrysler – and I know …
RadioShack

As bankruptcy looms for RadioShack, we ask its chief financial officer... oh. He's quit

The chief financial officer of struggling US electronics retailer RadioShack has resigned – as the company faces a fiscal crisis from which it has warned it may not be able to recover. John Feray, who had served as RadioShack's CFO for nine months, stepped down on September 12, a new filing with the Securities and Exchange …
Neil McAllister, 15 Sep 2014
The Register breaking news

Verizon CFO: 'Unlimited' data is just a word

Verizon Chief Financial Officer Fran Shammo has told analysts that "unlimited" when used to describe data is "just a word" and the idea of an open pipe is heading to extinction. "What customers are understanding and through our good sales routine is once you explain to a customer their usage on a monthly basis, unlimited is just …
Iain Thomson, 21 Sep 2012
fingers pointing at man

QLogic CFO Biddiscombe moves up to CEO

Storage adaptor firm QLogic will have a new CEO from 15 November onwards. Simon Biddiscombe, the current chief financial officer, has been appointed by QLGC's board of directors. Long-term QLogic boss H K Desai is moving upstairs to become executive chairman. He has been CEO for 15 years and is in his mid-sixties. We speculated …
Chris Mellor, 22 Oct 2010
Facebook logo

Zuck talks up mobile shift as Facebook money mill rolls on

Facebook once again topped analyst forecasts with the delivery of a $2.5bn revenue quarter on the strength of a 72 per cent jump in revenues. The company said that over the first quarter of 2014 it logged a total of $2.27bn in ad revenues with more than half of that haul coming from mobile ad displays. In total, ad revenues were …
Shaun Nichols, 23 Apr 2014
IBM Headquarters, Armonk, NY

If in doubt, blow $4bn: IBM says it will fatten up on cloud, mobile, Big Data cake by 2018

IBM is betting billions that it can claw its way back to growth by focusing on what it calls its "strategic imperatives," including cloud, data analytics, mobility, social networking, and security. During Big Blue's annual meeting with financial analysts on Thursday, CFO Martin Schroeter said IBM plans to shift $4bn of spending …
Neil McAllister, 26 Feb 2015
Scrooge McDuck

While AMD, Apple et al thrash around, chippery fat-cat TSMC is grinning all the way to the bank

Chip-baking industry heavyweight Taiwan Semiconductor Manufacturing Company (TSMC) emerged from another quarter of gangbusters year-on-year growth on Thursday, even as it reported flat revenue from the previous sequential quarter and it warned that the next quarter might be somewhat less spectacular. The firm – which fabs chips …
Neil McAllister, 17 Apr 2015

HP blasts $5.1bn sueball at ex-Autonomy execs, Lynch preps return fire

As it has long threatened to do, HP has sued two former Autonomy executives, accusing them of impropriety related to the two companies' financially disastrous 2011 merger. The Palo Alto, California firm filed suit against Autonomy cofounder Mike Lynch and former CFO Sushovan Hussain at the High Court in the UK on Monday, over …
Neil McAllister, 31 Mar 2015
The Register breaking news

Microsoft CFO bullish in Windows convergence and comms plans

Microsoft’s CFO Peter Klein took to the stage at the Goldman Sachs Technology & Internet Conference on Wednesday to outline where Redmond is headed in the next 3 to 5 years – and it’s all going to be about cross-platform. “What we're trying to do is develop a complete set of experiences across all device types, be they TV, …
Iain Thomson, 16 Feb 2012