Financial Reporting
Peloton Interactive announced that Chief Financial Officer Liz Coddington will step down on March 27 to join clean energy company Palmetto as CFO. At the time of her departure, Peloton reported a 7% year-over-year decline in second-quarter subscriptions to 2.6 million, with revenue down 3% year-over-year.
Uber announced on Wednesday alongside its Q4 earnings that Balaji Krishnamurthy, Vice President of Strategic Finance, will take over as CFO on February 16. Current CFO Prashanth Mahendra-Rajah will step down and serve as a senior financial advisor until July 1. Analysts believe that the internal promotion helps stabilize the finance function, and Krishnamurthy's long-term involvement in autonomous driving may align with the company's expansion strategy.
A securities filing by Universal on January 28 shows that the company has withdrawn its CFO position offer to former ADM executive Anubhav Mittal. The decision came about a week after Mittal's appointment was announced and one day after the SEC filed a lawsuit against ADM's former finance chief, Vikram Luthar. Mittal was not named as a defendant in the lawsuit. Universal did not state a reason for the withdrawal but said current CFO Johan Kroner will remain in his role until a successor is identified.
The U.S. Securities and Exchange Commission (SEC) announced on Friday the appointment of retired Ernst & Young partner Demetrios (Jim) Logothetis as Chair of the Public Company Accounting Oversight Board (PCAOB), along with three new board members. Logothetis will succeed George Botic, who has served as Acting Chair since July, with a term extending to October 30, 2030. SEC Chair Paul Atkins expressed confidence that the new board will usher in a new era of "sensible and efficient" audit oversight at the PCAOB.
Royal Caribbean Group, alongside its release of fourth-quarter and full-year 2026 results, announced several long-term expansion commitments, including the construction of two Discovery-class cruise ships (with options for four) at Chantiers de l'Atlantique in France, and plans by its Celebrity River Cruises to expand its fleet from 10 to 20 ships by 2031. In an interview, Chief Financial Officer Naftali Holtz emphasized that capital allocation is a core focus for the coming years, with the company's 2026 capital expenditure expected to be approximately $5 billion, of which about $1.8 billion is related to non-new-ship spending. In 2025, the company generated $6.5 billion in operating cash flow, returned $2 billion to shareholders, and ended the year with $7.2 billion in liquidity. Holtz also noted that since 2019, the number of millennial and younger guests has nearly doubled, with 2025 total revenue reaching $17.3 billion, net income of $4.3 billion, and EBITDA close to $8 billion. The company is leveraging AI technology to optimize personalized booking of onboard experiences to enhance customer satisfaction and revenue.
The Trade Desk announced in a securities filing on Monday that it has fired Chief Financial Officer Alexander Kayyal, effective January 24, but expects him to remain on the board until the 2026 annual shareholder meeting. The company also appointed veteran finance executive Tahnil Davis as interim CFO and began searching for a permanent successor. Following the announcement, the company's shares fell about 12% on Tuesday.
According to the latest Gartner survey, the widespread use of AI in investor research is significantly increasing pressure on CFOs: 43% of surveyed CFOs report more time spent preparing for earnings calls, and 38% report more media and social media interactions. Experts suggest that CFOs should proactively leverage AI tools to address this trend.
Lucid Motors disclosed in a securities filing on January 23 that it has adjusted the compensation agreement for CFO Taoufiq Boussaid, extending his housing allowance from 6 months to 12 months, increasing the annual stipend from $100,000 to $200,000, and adding severance benefits of up to $275,000. The adjustment is based on his French nationality status and new circumstances arising during his employment. The company also reported fourth-quarter production of 8,412 vehicles, up 116% year-over-year, with an earnings call scheduled for February 24.
AMC Networks announced on Thursday that Chief Financial Officer Patrick O'Connell will depart in March to pursue opportunities outside the media industry. O'Connell will remain until the conclusion of the fourth-quarter and full-year 2025 earnings calls, and the company has begun searching for his successor. Meanwhile, AMC announced the relaunch of the Sundance Now streaming platform, focusing on independent films, at a monthly price of $7.99.
Honeywell International announced that Deere & Company CFO Josh Jepsen will join its aerospace spinoff as finance chief on February 23. The new company will become one of the world's largest pure-play aerospace and defense public companies, with the spinoff expected to be completed in the second half of 2025.