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Articles about Cfo

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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
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

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
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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
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
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

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 …
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

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
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

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 …
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
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

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

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
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
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

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

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

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 …
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 …

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
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
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
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 …
Joe Tucci EMC

EMC II CEO David Goulden leaves VMware board

David Goulden, chief executive officer of of EMC Information Infrastructure and chief financial officer of EMC, has left VMware's board. Goulden will be replaced by Paul Sagan, a partner executive-in-residence at venture capital outfit General Catalyst Partners. Sagan is also on EMC's board and is a former CEO of Akamai. The …
Simon Sharwood, 08 Apr 2014

HTC mulls swoop for Nokia's MASSIVE Chennai plant

HTC could be in the market for Nokia’s troubled Chennai manufacturing plant in India – as the chances of a smooth transfer of the factory to Microsoft are increasingly remote. The Taiwanese handset maker’s CFO, Chia-Lin Chang, told the Economic Times that if the facility were to go on sale, HTC would consider a purchase in a bid …
Phil Muncaster, 22 Apr 2014

EMC revenues are up. But, hey Joe, I heard you shot your profits down...

EMC sold a record $5.9bn of products and services in its second 2014 quarter, representing a stately five per cent year-on-year increase in sales - and a $400m boost over the first quarter of this year. EMC’s second quarter revenues are generally higher than its first quarter. Net income was $589m, 16 per cent down on profits a …
Chris Mellor, 23 Jul 2014
hand holdin retro telephone

Tech Data dials up operations man for Europe

Tech Data (TD) continues to bulk out the management team post accountancy probe, hauling in former Ingram Micro UK boss Johan Vandenbussche to head up Operations across Europe. Under the newly created position, the industry vet will oversee HR, logistics, IT coordination and the internal consulting team, which is designed to " …
Paul Kunert, 06 Mar 2014

Target finally implements chip and PIN card protections

Embattled US big-box retailer Target, still struggling to handle one of the largest and most expensive card heists in history, is implementing chip and PIN payment card systems for its stores. The company on Tuesday said that it will be working with MasterCard to move all of its REDcard customer cards over to chip and PIN units …
Shaun Nichols, 29 Apr 2014

Acer fairly sure it made a profit in Q1. Assuming it got the office tea-bag account right

Ailing Acer has told us "transformation plans" are on track despite generating a profit after tax of just NT$1m - or £19,600 - in the first calendar quarter of 2014. This titchy cash haul would cover a small bunch of non-golden parachutes for execs that want to bale: or equates to a £2.80 handout for each employee in the company …
Paul Kunert, 08 May 2014

Serco issues shares to plug finance gap after profit warning

Serco is looking to plug the gap in its finances from weaker-than-expected results via a share placement estimated to haul in £100m worth of filthy lucre. This follows yesterday's latest profit warning and confirmation that long-standing CFO Andrew Jenner is to quit after 17 years of counting beans, once a successor is found …
Paul Kunert, 01 May 2014
H. K. Desai

QLogic exec chairman HK Desai dies aged 68

Storage firm QLogic has lost its guiding light. The company's chairman, HK Desai, died after suffering a "sudden cardiac arrest" on 10 June. CEO and president Prasad Rampalli, who became CEO just six months ago, said: "HK dedicated most of his working life to building QLogic into the company it is today. His positive spirit, …
Chris Mellor, 30 Jun 2014

Cost-cutting Barclays bank swings axe on 5,600 IT and ops bods

Barclays will axe about 5,600 IT and operations staffers in 2014 in a massive restructuring effort. The at-risk techies work across the retail and investment arms of the British banking group. The plan is to achieve £1.6bn in savings by scrapping about 14,000 full-time staff over the next 12 months, a move unveiled on Thursday …
Gavin Clarke, 08 May 2014

Google's revenues swell yet again, yet big earnings elude it

Google continued to mint money in the second quarter of its fiscal 2014, with revenues booming compared to the year-ago period, yet its earnings still managed to disappoint eager Wall Street analysts who were expecting even greater returns. This quarter, the online ad-slinger posted revenues of $16.0bn, which soundly beat the …
Neil McAllister, 18 Jul 2014
Dixons Carphone Warehouse

Dixons and Carphone Warehouse confirm £3.7bn MEGA-BORG

Dixons Retail and mobile phone shop Carphone Warehouse have confirmed their £3.7bn merger after months of talks, creating one of the biggest retailers in Blighty. Dixons, which already owns Currys and PC World, will combine with the mobe-purveyor to form Dixons Carphone in a 50:50 merger, rather than an acquisition of one side …

Hey IBM – Lenovo here. Sort your server factory strike out, will you?

Chinese PC maker Lenovo has shrugged its shoulders at a strike in a server factory in China, saying that it's up to IBM to sort out the dispute before its server business transfers to Lenovo later this year. Yet Lenovo has said that it will keep the same salaries and benefits in place for Big Blue employees moving across. More …
Google Fiber

Google promises 10Gps fiber network to blast 4K into living rooms

Google Fiber is the fastest broadband internet provider in the US, but according to the Chocolate Factory's CFO Patrick Pichette, its 1Gbps connection speeds are going to increase ten-fold. Pichette told the Goldman Sachs Technology and Internet conference that the firm is actively developing the equipment to pump 10Gbps of data …
Iain Thomson, 14 Feb 2014

Redstone's chief bean counter resigns as biz slowly dismantles itself

Networks integrator Redstone has revealed that its chief bean counter, Peter Hallett, has resigned in the wake of the demerger with its managed services arm. Back in February, Redstone confirmed plans to spin off its network managed services biz into a newly incorporated firm, Redcentric, a process that completed in April with …
Paul Kunert, 28 Jun 2013
Masayoshi Son

Softbank boss promises 'massive price war' if he can buy T-Mobile US

The billionaire boss of Softbank, which owns US network Sprint, has promised a price and technology war with American mobile market leaders AT&T and Verizon – if he's allowed to merge with T-Mobile US, of course. Masayoshi Son made the promise during an interview with PBS' Charlie Rose, as embedded below. Son said Verizon and AT …
Iain Thomson, 11 Mar 2014
Farmville on the iPhone

Zynga dodges IPO lawsuit thanks to lack of 'basic factual details'

Zynga has seen off a lawsuit that accused the gaming firm of misleading investors about its financial and business prospects ahead of its initial public offering back in 2011. Shareholders who launched the suit had alleged that Zynga had "engaged in a deliberate scheme to mislead investors by portraying the online gaming company …
EE 4G banner

EE owners: Yeah, we're cool with things as they are... IPO? Nah, not really

The owners of Blighty's EE mobile operator have said that they're going to hang onto the company for now, delaying potential plans to float the firm or sell off their stakes. Germany's Deutsche Telekom and France's Orange said they want to maintain the current management structure of the joint venture, which was created in 2010 …