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

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
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
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
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 …
management strategy3

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

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
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

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
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

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

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
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
Gun and dollars

Ex-Autonomy execs: HP's latest wad blows apart fraud allegations

Another week, another round in the ongoing bunfight between HP and the former management team of Autonomy. This time, the ex-Autonomy bods have claimed that new court documents filed by HP prove the latter has misrepresented the reasons why it had to write down $8.8bn in its botched acquisition of Autonomy in 2011. In a lengthy …
Neil McAllister, 12 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
NBN Co Customer premises equipment

NBN Co reports fibre traction and Telstra action

NBN Co has made the slightly awkward announcement that it's more than tripled the number of premises connected to its fibre network in the past year, while maintaining its commitment to the multi-technology model for future rollouts. It's chalked up the connections surge in spite of a management bonfire, several reviews to …
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 …
Shuffling cards

X-IO shuffles senior staffers – but this isn't an IPO prelude

Storage firm X-IO has changed its CEO and made some other board-level changes as well as having some engineers working part-time. Companies don't generally do this, so what's happening here? Incoming CEO Brian Owen has, in one way of looking at it, sidelined his incumbent CFO and HR head. CFO Ed Welch still holds his position, …
Chris Mellor, 27 May 2014
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
Larry Ellison, photo by Oracle Corporate Communications

Oracle's Larry Ellison quits as CEO – new bosses are Hurd'n'Catz

Oracle has, in the past few minutes, announced that company founder Larry Ellison has stepped down as chief executive, effective immediately. Outspoken Ellison will remain with the company in the capacity of chief technology officer, and he will continue to oversee all software and hardware engineering functions, Oracle said in …
Neil McAllister, 18 Sep 2014
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
Lock security

Cyber-punch-drunk eBay slashes revenue forecasts

eBay continues to bear the scars from a cyber attack that led to the leakage of 145 million users data, as the footfall in its third party online tat bazaar came in below management expectations during calendar Q3. President and CEO John Donahoe said the e-commerce platform has a runway to grow, “however, without a doubt, eBay …
Paul Kunert, 16 Oct 2014
Lufthansa plane

Lufthansa tosses IT biz to Big Blue, inks outsource deal with IBM

Lufthansa has announced that it’s about to sell off its IT infrastructure division to IBM and rent IT services from Big Blue in an outsourcing partnership. The German airline has been restructuring itself in an effort to cut costs and said earlier this year that it was looking for a buyer for its IT biz so it could better …
Larry Page's new yacht, 'Senses'

Hey, HP shareholders! Mike Lynch is set to buy a 180-foot superyacht with his Autonomy loot

Mike Lynch, the man whose sale of software biz Autonomy to HP resulted in an $8.8bn writedown at the US titan and ongoing probes by the Serious Fraud Office, the US Justice Department and the SEC, is set to splash out some of his gains on an enormous yacht. Sources tell The Register that Lynch is engaged in purchasing a …
Paul Kunert, 12 Sep 2014

EMC feels burn of declining demand for enterprise storage

EMC's share price dipped today after it revealed that fiscal Q1 profits crashed by close to a third on the back of rising operational costs and falling sales of enterprise kit. The world's largest maker of storage equipment reported sales of $5.48bn for the three months ended 31 March, with products down 3.3 per cent to $3.08bn …
Paul Kunert, 23 Apr 2014
cable

Intel to extend data centre tyranny into mobile, says CFO

Intel's CFO has rubbished ARM's prospects of making a serious dent in the data centre, arguing that whatever the chip IP developer is aiming at, Intel will be well ahead. At the same time, Stacy Smith insists that Intel will soon be eating into ARM's position in the mobile arena, despite the recent flight of its anchor partner …
Joe Fay, 26 May 2011
Microsoft CEO Satya Nadella

Microsoft's axeman Nadella fills baskets with 2,100 fresh heads

Microsoft CEO Satya Nadella has brought down his axe again, sending off the next batch of the 18,000 employees he has promised will lose their jobs by the end of the year. The Redmond supremo issued about 2,100 pink slips on Thursday, the Seattle Times reports, bringing the total number of layoffs to approximately 15,100 and …
Neil McAllister, 18 Sep 2014
Red Hat 100 Dollar

Red Hat to Wall Street: I came here to chew FeedHenry and kick some ass. And I'm all out of FeedHenry

Red Hat surprised analysts with very strong earnings for the second quarter of its fiscal 2015 on Thursday, even as the Linux vendor looked to enter the enterprise mobile apps market with a €63.5m ($82m) acquisition. The Wall Street wizards were expecting Red Hat to report revenues of $437.13m but it beat that figure handily, …
Neil McAllister, 19 Sep 2014
The Register breaking news

Office 365 supremo seizes control of Microsoft's purse strings

Top Microsoft exec Amy Hood, who masterminded the multi-billion-dollar Skype and Yammer deals, is Redmond's new CFO. Hood was named today as the new custodian of the corporate purse. She replaces numbers-man Peter Klein, who announced his exit in April but will stay on until June. She is the first woman to occupy the chief …
Gavin Clarke, 09 May 2013

eBay takes a small bite out of execs' bonuses

eBay chief exec John Donahoe's take-home pay has shrunk by half compared to last year, partly because the online tat-bazaar's financial performance didn't live up to expectations. Donahoe was paid $13.8m in wages and bonuses for 2013, down 53 per cent from the whopping $29.7m he trousered for the previous year. "The Committee …

Icahn and I DID: eBay volte-faces, spins PayPal into separate biz

eBay has spun off its PayPal subsidiary after months of telling “noisy” activist investor Carl Icahn to shut up about it because it would never happen. With absolutely no sense of irony or tip of the hat to Icahn whatsoever, the online tat bazaar’s chief John Donahoe said in a statement today that a strategic review of the board …

HP's axe swings AGAIN: 5,000 more staffers for the chop

Shape-shifting HP is to throw thousands more workers on the employment bonfire to free up cash for R&D and sales investments, the company confirmed as it provided more background on the pending corporate dissection. The Palo Alto titan yesterday went public over plans to divide the business in two, with the PC and printer …
Paul Kunert, 07 Oct 2014
channel_teaser_exit

Westcon bidding farewell to chief bean counter

Westcon has waved goodbye to long serving chief abacus stroker John O'Malley who resigned after nearly 14 years service The industry veteran was made CFO in 1999 and added exec veep to his title in 2006. He leaves on 3 June to "pursue other business opportunities", parent company Datatec has confirmed. Group president and CEO …
Paul Kunert, 24 May 2013

Investor lobs sueball at BlackBerry, says it 'misled' shareholders

A BlackBerry shareholder has filed a lawsuit accusing the company and its chief exec and CFO of inflating its share price with unrealistic promises about BB10, leading to thousands of investors getting burnt. The suit was filed in federal court in Manhattan, New York, by one Marvin Pearlstein, in the names of "thousands" of …
Bill Ray, 07 Oct 2013

Autonomy's ex-chief beancounter tries to kill HP investor settlement

Autonomy's former chief financial officer has sought to block HP from settling three shareholder lawsuits over its botched acquisition of the British software company. The former exec claims HP will use the settlements to "forever bury" its supposed culpability in the calamitous buy. Sushovan Hussain, who served as Autonomy's …
Jack Clark, 21 Jul 2014
channel

Former Isilon CFO charged over secret customer deals

Isilon's former chief financial officer, Stuart Fuhlendorf, is being charged by the US SEC with cutting secret customer deals and reporting false and inflated sales results. According to a report the SEC has settled its dispute with Isilon over a resulting restatement of accounts for 2006 and 2007 which revealed $4.8m in …
Chris Mellor, 15 Sep 2009
Dot Hill Assured_SAN_Ultra48

Storage array supplier Dot Hill: Revenues are down, but so are losses

Storage array supplier to OEMs has less to be dismal about with declining revenues but much less of a loss in its second quarter. The business isn't growing, but at least it is not shrinking. Revenues for the second calendar 2014 quarter were $48.2m, the same as the previous quarter but 8.4 per cent down on the year-ago quarter …
Chris Mellor, 12 Aug 2014
The Register breaking news

Did NBN Co’s recruiters miss CFO's accident prone past?

The sudden exit of NBN Co’s CFO, Jean-Pascal Beaufret, raises doubts over the original selection process by which the French executive was given charge over the purse strings of the Australian government’s most ambitious infrastructure project. Recent Department of Broadband, Communications and Digital Economy documents …
Yahoo! CEO Marissa Mayer and CFO Ken Goldman

What! is! the! point! of! Yahoo?! To! sell! more! and! more! ads! says! CEO! Mayer!

Yahoo! execs are disappointed but optimistic as the web biz was once again unable to turn around declining revenues in its most recent quarter. The Purple Palace reported revenues of $1.08bn, down four per cent from the previous year's quarter and below analyst estimates. Earnings per share were up five per cent to $0.37, but …
Shaun Nichols, 16 Jul 2014

Flash daddy SanDisk: Revenues up, but Wall St unimpressed

SanDisk's third 2013 quarter showed a healthy annual and quarterly increase but subdued profits, while Fusion-io integration costs and mis-met Wall Street expectations sent the shares down a tad. Revenues were $1.75bn – a record. They were $1.63bn a year ago, meaning a seven per cent increase, and the same in the second 2014 …
Chris Mellor, 17 Oct 2014

Huawei's turnover rockets upwards. Suck on that, US government

Execs at Chinese hardware maker Huawei are laughing all the way to the bank after reporting a healthy bounce in revenues and margins, despite being effectively blockaded by some governments in the West. The maker of telco kit, smartphones and enterprise networking gear today said that turnover for the first half of calendar '14 …
Paul Kunert, 21 Jul 2014

Target topples CEO in latest data breach domino

The CEO of Target is the latest casualty of the big-box retailer's disastrous holiday data breach. The company said that chief exec Gregg Steinhafel would be leaving the company after 35 years,vacating both the CEO and president roles as well as his seat as chairman of the company's board of directors. Steinhafel had overseen …
Shaun Nichols, 05 May 2014
The Register breaking news

Apple raids Xerox YET AGAIN - for its chief beancounter

Xerox has announced that Apple has snaffled its chief financial officer Luca Maestri to be the new Cupertino corporate controller from the end of February. The firm synonymous with photocopying said Maestri was a "stellar finance executive" and that it had started a search to replace him. Maestri will take over from ex-Appler …

eBay cops $3 BILLION tax bill after moving its profits back onshore

Online tat bazaar eBay has copped a $3bn tax bill after bringing $9bn of cash held overseas back to the US. The firm hopes to use the remaining money to fund potential acquisitions at home. The firm announced as part of its first quarter earnings that it had paid a discrete tax charge of around $3bn to bring the cash pile back …

SHOCK and AWS: The fall of Amazon's deflationary cloud

It's tough being a victim of your own business strategy, especially if you're Amazon founder and CEO Jeff Bezos. After spending twenty years applying a combination of price cuts, smart logistics, and ruthless efficiency to the publishing and music industries, Bezos' Amazon has grown into a vast company. But now the company's …
Jack Clark, 26 Jul 2014

Former Insight boss Fenton slurps Microsoft ERP channel biz

Former Insight EMEA president Stuart Fenton has picked up the UK arm of global Microsoft ERP integrator Tectura - the first in a planned mid-market roll up. The acquisition of London-based Tectura UK, a subsidiary of US firm Tectura Corporation, was completed by Fenton and his investment biz QuantiQ. After a decade running …
Paul Kunert, 03 Jun 2014
Netflix

Netflix speaks out against Comcast–Time Warner megadeal

Video service Netflix has officially come out in opposition of a potential merger between Comcast and Time Warner. The company said in its latest earnings report that the potential for a combined Comcast and Time Warner network would result in the extraction of "unprecedented fees" from Netflix and other streaming services. "If …
Shaun Nichols, 21 Apr 2014
X-IO ISE Station X

It's musical chairs at ISE bricks house as X-IO looks to 'post-nerd' future

X-IO, the perennially not-quite-making-it supplier of fantastically reliable HyperISE storage enclosures, has promoted its CEO to chairman, and appointed its vice chairman as the new CEO, in a move away from being a "nerdy storage supplier" towards a more profitable future. CEO John Beletic came on the scene in late 2011 and has …
Chris Mellor, 20 May 2014