Technology
Xerox Holdings said Wednesday that Chuck Butler, its chief business services officer, will become CFO, succeeding Mirlanda Gecaj, who is leaving after less than a year in the role. The transition is effective Dec. 3 and occurs amid a company reorganization and recent job cuts tied to the Lexmark acquisition.
Coursera announced on Monday the appointment of former Alphabet executive Michael Foley as interim CFO and Treasurer, effective immediately. This follows former CFO Ken Hahn's transition to an advisory role on October 29 for a 12-month term. Foley's appointment comes at a critical time as the company accelerates its AI initiatives, with a monthly salary of $166,667 and the opportunity to earn a cash bonus of up to $200,000.
Amid a persistent shortage of accounting talent and the continuous evolution of automation technology, finance leaders are rethinking their hiring strategies. In an interview with CFO Dive, Campfire CEO John Glasgow stated that CFOs are now placing high importance on 'systems-first' accountants in recruitment, aiming to accomplish more forward-looking work with leaner teams. He also introduced Campfire's AI-native ERP platform, its recent $65 million Series B funding, and product development vision.
Over the past decade, CFOs have proudly advanced financial digitization, yet global payroll still depends on legacy infrastructure designed for employees in a single country, with a single bank and a single identity. As employees move across countries, currencies, and clients, payment failures, opaque fees, and FX risk have become the norm. This article argues that the payment experience should be elevated to a financial responsibility rather than an HR sub-function; the root cause lies in the architectural assumptions of the 1980s. The author proposes building a global payment infrastructure that starts from employee realities, with embedded compliance, real-time data, and transparent fees, and introduces its related practices at Papaya Global.
Waymo announced on Monday that Google executive Steve Fieler will become its Chief Financial Officer, succeeding Elisa de Martel starting December 1. Waymo co-CEO Tekedra Mawakana said on LinkedIn that Fieler's extensive experience will help the company scale its autonomous ride-hailing operations and expand into global markets.
As companies shift from generative AI investments to building and delivering practical solutions, collaboration between finance and IT executives becomes crucial. Brian Zander, Vice President of Marketing at Bloomfire, emphasized in an interview with CFO Dive that CFOs and CIOs need to find a balance in AI maturity, risk tolerance, and value measurement, avoiding projects falling into a "pilot purgatory" due to overly high expectations or neglect of user adoption.
The latest survey by AIResumeBuilder.com reveals that 30% of U.S. companies plan to replace employees with AI next year, with IT and accounting industries most affected. 59% of surveyed leaders expect AI to replace at least 10% of the current workforce, and 10% expect it to replace more than 50%. Meanwhile, a Challenger report states that AI-related layoffs reached 31,039 in October, and Egon Zehnder research shows CFOs remain cautious about AI adoption.
As CFOs formulate their plans for 2026, AI remains high on the priority list. Myles Corson, EY's global financial accounting advisory leader, says the pace of technological disruption and the actual capabilities of AI will become clearer, and finance executives need to maintain a sustained focus on AI data governance. Data quality, understanding of sources, and governance frameworks are crucial for navigating economic uncertainty and regulatory changes.
The latest report from Challenger, Gray & Christmas shows that U.S. employers announced 153,074 layoffs in October, a 175% increase year-over-year and an 183% rise month-over-month. Cost cutting and AI adoption are the two main causes of private-sector layoffs, with the tech sector under continued pressure. Federal Reserve Chair Powell stated he is closely monitoring AI's impact on employment.
According to CFO Dive's analysis of the financial reports of four tech giants, Microsoft, Alphabet, Amazon, and Meta's combined capital expenditures last quarter reached $112.5 billion, a 77% increase year-over-year. Microsoft led with $34.9 billion, followed closely by Amazon at $34.2 billion. Gene Munster, a partner at investment firm Deepwater Asset Management, called this figure 'staggering' and expects it to continue rising. Meanwhile, a survey shows that 97% of CFOs say their boards require regular updates on AI investment progress, but the market is divided on whether the massive investments by some companies will yield corresponding returns.