Macy’s  (M) – Get Report named Boston Consulting’s Adrian V. Mitchell, who has extensive experience with retailers, as chief financial officer as the department-store chain recovers from the coronavirus-pandemic shutdown.

Mitchell on Nov. 2 will join the Cincinnati company, reporting to report to Chairman and Chief Executive Jeff Gennette.

He succeeds Felicia Williams, who is joining CEO Action for Racial Equity, an initiative aimed at advancing diversity and inclusion within the workplace, as Macy’s fellow.

Williams had been interim CFO since Paula Price left at the end of May.

Mitchell will be responsible for all finance functions including accounting, treasury, investor relations, internal audit, financial/capital planning and analysis, and procurement. 

“In a retail environment where change is accelerating beyond what we could have imagined a year ago, Adrian’s depth of financial and operational experience, coupled with his leadership in strategy, innovation, and transformation, will help us on our

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The current economic turmoil may be a short-term business issue for the life insurance segment, but is extremely positive in terms of creating awareness and opportunity, believes Satyan Jambunathan, CFO, ICICI Prudential Life Insurance Company. In an interview with BusinessLine, he said the private sector insurer continues to focus on doubling the value of new business over a four-year period and that the organic opportunity for insurance is still huge in India. Excerpts:

How is the life insurance industry doing amid the slowdown? What are the expectations for recovery?

April was the toughest month for the industry, but every passing month has seen an improvement. We are getting far closer to what we were in the same period last year. Also, whenever there are periods where life or health is at risk, awareness of consumers towards insurance as a category goes up dramatically. It was always the situation where

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Mary Rozenman initially set out to be a doctor, after watching her sister deal with uncontrolled epilepsy throughout her childhood.

But she realized in college, that blood made her cringe. Instead, Rozenman got her doctorate in organic chemistry and chemical biology from Harvard University. 

Then as a 26-year-old working under David Liu, a gene-editing pioneer, something about drug development didn’t sit right with the young chemist. Among the thousands of new discoveries each year, just a small handful of them make it through the “funnel,” she said.

“I envisioned a funnel, where you have at the top of the funnel all of these amazing discoveries and innovations that sort of move through the system,” Rozenman told Business Insider. 

“And somehow only a small handful of them get filtered into medicines that actually make it out into the real world’s drug supply,” she said.

Rozenman needed to understand how that funnel

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Toronto, Ontario–(Newsfile Corp.September 1, 2020) – FenixOro Gold Corp. (CSE: FENX) (OTC Pink: FDVXF) (FSE: FD8) is pleased to announce the appointment of Mr. Jing Peng, CPA to the position of Chief Financial Officer of the Company.

Mr. Peng is a Canadian Chartered Professional Accountant. He has worked in public accounting for the past 10 years providing financial services primarily to junior exploration companies. Mr. Peng has been the CFO of Austin Resources Ltd., a TSXV-listed company, since September 2015 and the CFO of Captor Capital Inc., a CSE-listed company, since March 2014. In addition, since December 2010, Mr. Peng has been the senior financial analyst at Marrelli Support Services, a well-respected supplier of accounting and reporting services. Mr. Peng was a senior accountant at MSCM LLP and KPMG LLP. Mr. Peng hold a Master’s degree in Management

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Unisys Corp.’s

finance chief is weighing a bond sale in the coming months to reduce the company’s substantial pension deficit.

The technology-services company’s unfunded pension obligations stood at 236%—or $1.75 billion—of its market capitalization of $740 million at the end of 2019. That’s the highest ratio among the 100 largest defined-benefit pension plans owned by U.S. companies, according to actuarial consulting firm Milliman Inc.

Under defined-benefit plans, companies promise to pay out fixed sums to retirees, sometimes over decades. Low interest rates have made it difficult for some companies in recent years to achieve the investment returns needed to match their obligations to retirees.

Unisys’s investors are increasingly pushing the company to resolve its pensions deficit, Chief Financial Officer Mike Thomson said. “We’ve been getting more external pressure,” Mr. Thomson said. “We probably spend 70% of our dialogue with analysts and investors answering questions about the pension and 30% talking

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  • Citigroup’s CFO, Mark Mason, said the erroneous $900 million wire the firm recently sent was a chance to speed up plans to update the bank’s risk technology. 
  • Speaking on Monday at Barclays Global Financial Services Conference, Mark Mason, the firm’s chief financial officer, said that the bank is putting $1 billion towards risk and controls this year.
  • Mason also highlighted ways the bank plans to recognize savings during the overhaul, including cutting real estate and moving workers out of pricey locations. 
  • Visit Business Insider’s homepage for more stories.

A Citigroup executive highlighted the erroneous $900 million wire the bank recently sent as a chance to speed up plans to update the bank’s risk technology. 

Speaking on Monday at Barclays Global Financial Services Conference, Mark Mason, the firm’s chief financial officer, said that the bank views the incident as a chance to make changes.

“We recognize that errors like this are

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Lemonade Inc.’s

finance chief faces a peculiar challenge: explaining to new investors why a company that is not yet profitable is giving away money to charity.

Customers signing up for one of Lemonade’s products—homeowners, renters or pet insurance—select a charity of their choice. The company then contributes a portion of unclaimed insurance premiums—$1.1 million in the year ended June 30—to those organizations.

Lemonade reported a $21 million net loss during the second quarter, roughly in line with a year earlier, and analysts expect that it will take several years for the company to turn a profit. It listed on the public markets in July.

Prospective shareholders pressed the company for more information on its strategy and its legal status in the lead-up to the company’s listing, said Chief Financial Officer Tim Bixby.

Lemonade is a public-benefit corporation, a type of company with a dual mandate to serve society and maximize

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Casper Sleep’s incoming chief financial officer, Michael “Mike” Monahan, begins his new job on Monday.

This start comes as observers wonder about other starts: When will the six-year-old bed-in-a-box company start to turn a profit? When will Casper start to gain efficiencies on marketing spend and customer acquisition?

News of Monahan’s new role was reported by the Wall Street Journal yesterday, after Casper (CSPR) disclosed the appointment in a Securities & Exchange Commission filing that morning. Monahan succeeds Stuart Brown, who was serving in an interim capacity since May. Brown has resigned and will continue in a consulting role during a transition period, according to Casper.

The online bedding category has become a crowded field, with rivals like Purple Innovation (PRPL), Boll and Branch, Tuft & Needle, Saatva, Leesa Sleep and Nectar leading the

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Business is advancing. We already saw a shift in the CFO’s responsibilities prior to the outbreak of the Coronavirus.

Senior financial decision-makers were beginning to see the value of modern financial management solutions at a time when everything seemed to be changing: the nature of business, end-users, employees, customer expectations, and digital tools.

And then the pandemic hit, accelerating digital transformation and amplifying the associated challenges – especially those around governance, remote working, and cybersecurity.

CFOs are now getting to grips with new complexities, such as managing a remote workforce, as well as expanding security and compliance directives.

Consequently, we are now observing the third significant evolution in the role of the CFO and other senior financial decision-makers.

The CFO of old, or CFO 1.0, was the historian. Then came CFO 2.0 – the real-time analyst who picked up on issues with real-time dashboards. However, now is the time to

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