Articles about Cfo

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
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
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'

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
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
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 …

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

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

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
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

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 management4

HP reveals which execs have a chair once the splitting music stops

HP has revealed who'll be sitting where once the splitting song stops and the company has broken into HP Inc. and HP Enterprise. As previously flagged, current leader Meg Whitman will stay atop HP Enterprise as chair and CEO, backed by the following team: Cathie Lesjak will be the Chief Financial Officer John Schultz will be …
Simon Sharwood, 27 Jan 2015
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

Big Blue weeps as another 8% slips off its storage scales

Comment When is Big Blue's storage slide going to end? IBM's latest quarterly and full year fiscal 2014 results show an unabated fall in storage hardware revenues, with an eight per cent annual decline to $864m in the fourth quarter of 2014. It's a huge number, but back in fiscal 2011 the same quarter recorded $1.2bn in storage hardware …
Chris Mellor, 22 Jan 2015
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
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 …
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
Man wrinkles his eyes in an expression of pain, annoyance or dsicomfort

ULLtraDIMM dam plus inventory oops smacks SanDisk’s Q4 growth

+Comment The expansion of SanDisk’s business nearly stopped in its latest quarter, with revenue growth stalled and profits down as it lost a major customer, experienced troubles in its supply chain and the ULLtraDIMM injunction took hold. Just a temporary setback guys, nothing to see here, move along folks. The consumer and enterprise …
Chris Mellor, 22 Jan 2015
axe_channel_teaser

Citrix: Hmmm, profit down 30%? Right. 900 HEADS WILL ROLL

Hundreds of workers at Citrix Systems are to be shown the door to counter nose-diving profit and boost the R&D pot. The purveyor of virtualisation, networking and cloud infrastructure stuff last night rolled out results for the three months ended 31 December and sales were up six per cent to $851m – analysts had forecast $844.3m …
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
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
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 …
channel_teaser_exit

Hauling DRaaS: Unitrends CEO off to consulting job

+Comment Virtual server backup and Disaster Recovery as a Service (DRaaS) startup Unitrends has lost one CEO and hired a new one. Mike Coney, CEO since November 2009, has been thanked for his valued service and Unitrends wishes him well in his next endeavour. Coney now describes himself as a CEO consultant. This CEO change follows on …
Chris Mellor, 09 Jan 2015
Facebook WhatsApp

Facebook shares flutter as firm reports user growth slowing

Facebook's shares dropped 10 percent on the news that it is planning to spend more on roughly the same number of users next year. However, after hours trading pulled the social media monster's price back up to around $80 per share following the third-quarter results announcements. CFO Dave Wehner said the company was planning …
Kieren McCarthy, 28 Oct 2014
Shuffling cards

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

Analysis 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
big droplets falling from rain cloud

VMware cracks US$6bn for the year, says SaaS will slow growth

VMware today used its Q4 2014 earnings call to warn its revenue growth will slow because it's doing so well in the cloud. The overall picture is rosy for VMware, which announced a US$1,703 million quarter and $6.03 billion dollar year, up 15 per cent and 16 per cent respectively on the corresponding periods from 2013. Other …
Simon Sharwood, 28 Jan 2015
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
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
Red pen

Big Blue bleeds more red in Q4, promises better days to come

The fourth quarter of IBM's fiscal 2014 was a disappointing cap on a year that saw Big Blue's revenues and income both decline significantly since 2013. Total revenues for the quarter were $24.1bn, which was 12 per cent lower than the same period a year ago and missed analysts' expectations. Revenues for the full year didn't …
Neil McAllister, 20 Jan 2015

Google's latest letdown: Simply not enough billions since October

Google's coffers swelled once again in the fourth quarter of its fiscal 2014, with revenues hitting $18.10bn, a 15.3 per cent year-on-year increase. The figures for the full year to December 31 were similarly encouraging. Revenues for all of fiscal 2014 amounted to $66bn, which was 18.9 per cent higher than 2013's sales. Net …
Neil McAllister, 30 Jan 2015
Amazon CEO Jeff Bezos

Amazon, flush with cash, says it will let you peek inside AWS' pants

Amazon left smiles on investors' faces on Thursday following a fourth-quarter earnings report that trounced analysts' estimates. While Wall Street was expecting to see earnings of $0.17 per diluted share, the actual figure came in at $0.45 per share – which, while not as good as the $0.51 per share that Amazon earned in the …
Neil McAllister, 30 Jan 2015

Win Server 2003 custom support: That's NOT going to be fun

Microsoft could make a mint from charging businesses for custom support once Windows Server 2003 goes end of life next summer - but it may not make financial sense or be that easy to do so. There are millions of servers globally still running the 13 year-old OS with one in five customers forecast to miss the 14 July deadline …
Paul Kunert, 15 Dec 2014
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

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
Larry Page's new yacht, 'Senses'

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

Exclusive 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
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 …
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
management social5

Pure Storage confirms EMEA veep Rose has left the building

It is a strange world when the EMEA* organisation of a business boasts about meteoric growth and then parts with the boss of that region – but this is exactly what Pure Storage has done. The flash storage business has waved bye-bye to industry vet Steven Rose, who less than a year ago joined as veep and is now looking for his …
Paul Kunert, 21 Jan 2015
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
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
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

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 …

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 …