Articles about Cfo

Mars Science Laboratory - Curiosity rover on Mars

Seagate moves head moneyman to undefined role, promotes new CFO

Seagate has moved CFO Pat O'Malley to an undefined exec role and promoted Dave Morton to CFO. Morton was Seagate’s SVP, treasurer and principal accounting officer, and now gets an EVP hat. O'Malley, CFO since 2008, keeps his existing EVP status but becomes responsible "for a broad range of strategic and operational issues." …
Chris Mellor, 22 Oct 2015

Time Warner CFO Artie Minson quits to join babble-filled upstart

Time Warner Cable's chief financial officer, Arthur Minson, is stepping down just a few days after after Charter Communications agreed to merge with his employers for $78.7bn in cash and shares. "Artie" Minson will join WeWork, a start-up platform which describes itself as "the platform for creators. We provide everything you …

About that IBM hardware revenues dive: Blame storage, says CFO

IBM's storage hardware revenues declined by 19 per cent year-on-year in its third 2015 quarter, continuing a four-and-a-half year fall. IBM_Storage_HW_revs_to_Q3fy2015 IBM Storage hardware revenues to Q3 2015. IBM CFO Martin Schroeter put IBM's revenue declines in the context of IBM switching from declining businesses to …
Chris Mellor, 20 Oct 2015
Uber launch party by CC2.0 sharelalike attribution

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

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

Former Cisco money chief cash-lands at Red Hat

Cisco’s departed financial chief Frank Calderoni has landed as CFO and operations chief at Linux distro kingpin Red Hat. Calderoni was the network giant’s CFO for seven years and managed the company through growth, acquisitions, layoffs and restructuring. He replaces Red Hat’s CFO Charlie Peters, who is retiring. During his …
Gavin Clarke, 23 Jun 2015

SaaS biz 'made up 99% of sales and defrauded investors of millions'

If you bought internet services from Illinois-based ContinuityX Services, the US Securities and Exchange Commission would like a word, since you may be part of a very, very small group – far smaller than the company itself represented. "We allege that Godwin and Roth cheated investors out of millions of dollars, depicting …
Iain Thomson, 30 Sep 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
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
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 …
Stock market. Pic: Alberto Carrasco Casado

Softcat hires Domino’s Pizza man as NED ahead of IPO

Softcat has hired former Domino’s Pizza beanie Lee Ginsberg as non-exec director ahead of its long awaited flotation on the London Stock Exchange. The Marlow-based biz is tipped to list next month with a valuation estimated to be between £400m to £500m, the first time a local reseller has floated in years. Credit Suisse was …
Paul Kunert, 09 Oct 2015
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

Softcat hires another non-exec director as '£500m' IPO nears

The ranks of non-exec directors at Softcat continue to swell, with former Staples UK president Peter Ventress hired ahead of the reseller’s LSE flotation, slated for next month. The appointment of the 65-year-old was confirmed in a Companies House filing. Ventress is also CEO at industrial laundry service Berendsen UK and non- …
Paul Kunert, 19 Oct 2015
Files in manager's desk drawers: manila folder marked "Redundancies". Image via shutterstock

Mass redundancy marathon nearly over at HP

HP is making what looks to be a final round of UK redundancies before it breaks apart and is seeking volunteers to jump rather than be pushed. The organisation is nearing the end of its mega, three and a half-year redundancy programme that will have included the exit of 58,000 people by 1 November, the start of HP’s fiscal ’16 …
Paul Kunert, 28 Aug 2015

Freshly slurped EMC's financials will be flat with no fizz

At the same time as it was being swallowed by Dell, EMC pre-announced its third quarter results, revealing virtually no growth in revenues from a year ago. The company expects Q3 revenues to be between $6.05bn and $6.08bn. At the mid-point, that is 0.5 per cent higher than a year ago and 1 per cent more than the second quarter …
Chris Mellor, 13 Oct 2015
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
Huawei HQ

Huawei claims 30 per cent growth for H1 2015/16

Huawei's core smartphone and network infrastructure units have driven the Chinese behemoth's revenue past $28bn for the first half of financial year 2015-2016. In a result that will chill the likes of Cisco, Nokia/Alcatel-Lucent and Ericsson, the company's revenues hopped on an elevator to grow 30 per cent year-on-year, and …
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

UK NHS IT supplier CSC coughs up $190m fine, three execs in the dock

Computer Science Corporation has paid its $190m (£122m) fine, levied by US watchdog the Securities and Exchange Commission over charges the Virginia-headquartered biz fudged its financial reports. And now some senior executives have agreed to hand back millions of dollars in pay and bonuses as a result of the SEC's probings. …
Iain Thomson, 05 Jun 2015

Microsoft licensing house Crayon buys into US tech market

European Microsoft licensing solutions partner Crayon Group is setting up shop in the US after subsuming Software Wholesale International. SWI is a volume licensing reseller and carries the Microsoft Gold Partner badge for software asset management and one for cloud services, so operates in the same areas as its new parent. …
Paul Kunert, 17 Jul 2015

New X-IO boss Miller saddles him up a new sales posse

Get a load of this; just days into his job as X-IO’s latest CEO Bill Miller has hired five execs to to shake up its sales operations. We have; Mark Zeller, VP North American Sales, and ex-Regional Vice President, US West for EMC Steve Ashurst, General Manager GM EMEA and ex-Business Development Manager at Sepaton John …
Chris Mellor, 10 Jul 2015

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
Files in manager's desk drawers: manila folder marked "Redundancies". Image via shutterstock

HP Inc to pink-slip 3,300 workers amid biz-split bloodbath

HP Inc – the bit of HP that makes printers and PC – will shed 3,300 jobs, it was revealed on Tuesday. HP is splitting in two formally on November 1, forming Hewlett Packard Enterprise and HP Inc. HP Inc, which will be based around HP's personal systems and printing groups, will report $6.8bn total debt when it begins operating …
Shaun Nichols, 16 Sep 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
Facebook data centre_Lulea

IPv6 is great, says Facebook. For us. And for you a bit, too

Facebook has wandered down to Speakers' Corner and climbed onto a fruit-crate to spruik the benefits of the decades-old, much-needed and still-relatively-unused IPv6 protocol. With IPv4 addresses just-about-depleted worldwide, Facebook has penned a blog post telling websites to roll out the protocol, if they haven't already. …
Graph of US dollar going up CC 2.0

Hey, CIOs: Tech prices are about to rocket, so get planning – Gartner

As currency changes make tech products more expensive, Gartner says CIOs need to re-examine their budgets. In the last year, the Euro, Japanese Yen and Brazilian Real have all dropped by about 20 per cent against the US Dollar, and according to Roberto Sacco, Gartner’s research director, that is likely to remain the case at …
Jennifer Baker, 12 Aug 2015

Autonomy ex-boss Lynch tells of poisonous life within HP in High Court showdown

Analysis Former Autonomy CEO Mike Lynch has stepped up his rhetoric against HP in his latest lawsuit against the firm, having characterized HP as a snake pit of backbiting and internecine squabbling where execs "generally fought amongst themselves like cats in a sack." In papers [PDF] filed with the UK High Court on Thursday, Lynch …
Neil McAllister, 02 Oct 2015

Like your job at Sprint? Yeah, about that ... $2.5bn in cuts coming

US mobile carrier Sprint plans to tighten its belt to the tune of up to $2.5bn in cost cuts over the next six months, a new report claims. The Wall Street Journal said on Thursday that it has obtained a memo outlining the plan that was sent to Sprint staffers this week by CFO Tarek Robbiati. In it, Robbiati reportedly said he …
Neil McAllister, 02 Oct 2015
Crop of doctor with pen and clipboard

Cambridge University Hospitals rated 'inadequate' due to £200m IT fail

Cambridge University Hospitals has been placed under special measures by the NHS regulator, after a failed £200m IT project plunged its finances into the red and left it unable to deliver key services. Health watchdog Monitor flagged the trust as "inadequate", following concerns about staffing levels, delays in outpatient …
Kat Hall, 22 Sep 2015
Stanley Kubrick's The Shining

Yahoo! reverses! reversal! FLIPS! profit! into! loss!

Yahoo! has reported a $22m loss for its second quarter, as CEO Marissa Mayer tries to buy market share off Google and Facebook. For the same period last year, the ad business booked a $270m profit, so the quarter represents a slump of nearly $300m. The loss, which Reuters briefly described as a “lower-than-expected profit” …
Sunset over the Texan desert. Photo by ArchBob, licensed under cc0 public domain

Careful, don't move. What's that? Yes, it's a glint of growth at EMC

EMC just managed to scratch out a one per cent annual revenue rise in its third calendar 2015 quarter's results, beating its own estimates. The quarter ended on 30 September and revenues of $6.08bn were a tiny amount up on the year-ago's $6.03bn and the second quarter's $6bn. Net income of $528m was down 16 per cent in the …
Chris Mellor, 21 Oct 2015

Senior execs at NTT Com Security quit, but not with immediate effect

Top brass at NTT Com Security are hot footing it out of the organisation at the end of next month, the company confirmed today. CEO Simon Church, formerly COO at reseller Integralis (which NTT acquired in 2009 to form the backbone of its security ops), and chief beanie Heiner Luntz, have quit. Climbing into the chief exec’s …
Paul Kunert, 23 Jun 2015

Citrix: CEO exit plans accelerated, results take a turn.... for the better

Citrix – currently locked in the vice-like grip of activist investor Elliott Management – has confirmed exec chairman Robert Calderoni will move into the care-taking CEO position. Long-serving chief exec Mark Templeton previously confirmed he is to retire at the end of this calendar year, but had planned to man the fort until …
Paul Kunert, 22 Oct 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
A large hand flicks an icon of a little red man. Image via shutterstock (Lasse Kristensen)

QLogic CEO is out, search for successor underway

QLogic's president and CEO Prasad Rampalli has abruptly left the building to "pursue other opportunities" in the time-honoured euphemism used by company boards when axing a senior exec. Rampalli joined QLogic in February 2014, stepping into the CEO's hot spot months after prior CEO Simon Biddiscome had been released. CFO Jean …
Chris Mellor, 22 Aug 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 …

Tech talent scout Braund scouted by troubled Coms Plc

Financially challenged B2B connectivity and voice provider Coms Plc has poached tech recruitment veteran Mark Braund to take control of the ship, following a messy divorce with his predecessor. Braund was a former EMEA director of SME at IBM in the 1980s, but for nearly the last thirty years has worked in senior positions at …
Paul Kunert, 14 Jul 2015
Axe, image via Shutterstock

HP Enterprise will axe 25,000 to 30,000 staff

HP will cut between 25,000 and 30,000 jobs amid its restructuring overhaul. The troubled IT giant told analysts in San Jose, California, on Tuesday it will have to make the redundancies as part of an effort to trim $2.7bn from its books. The axe will fall in Hewlett Packard Enterprise, which is one half of the HP split that …
Shaun Nichols, 15 Sep 2015
Windows 10

Windows 10 now on 75 million devices, says Microsoft

Microsoft's corporate veep Yusuf Mehdi reports that Windows 10 is now on 75 million devices, following its general availability four weeks ago. This suggests that Windows 10 is being installed faster than any previous version. Exact figures are hard to come by, but Microsoft took around four months to sell 90 million Windows 7 …
Tim Anderson, 26 Aug 2015