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The U.S. Senate passed the GENIUS Act with a vote of 68 to 30, aiming to provide regulatory certainty for stablecoin issuance. Paul Brody, EY's Global Blockchain Leader, noted that a clear legal framework is key for conservative institutions, such as banks and chief financial officers, to participate in this sector. If the bill ultimately becomes law, it will clarify that stablecoins are not securities and impose reserve and disclosure requirements on issuers.
Yum Brands disclosed in a securities filing on Tuesday that current CFO and Chief Franchise Officer Chris Turner will succeed as CEO on October 1, with an annual salary of $1.1 million. Turner has been with Yum for six years and previously held executive roles at PepsiCo. Current CEO David Gibbs announced his retirement after 37 years with the company and will remain as an advisor until 2026.
From the pandemic in 2020 to the present, CFOs globally have continuously faced the test of a 'permanent crisis.' In 2025, the Trump administration's aggressive shifts on high tariffs, fiscal expansion, and geopolitics have made the frequency and interconnectedness of risks unprecedented. Experts such as Richard Chambers, Senior Advisor at AuditBoard, Michael Perica, CFO of Rimini Street, and Pratap Daruka, CFO of Tredence, propose seven response strategies to help financial leaders find growth and resilience amid uncertainty.
With the rise of agentic artificial intelligence, the procurement industry is entering a golden age. HFS research shows that AI-driven sourcing has achieved 20% cost savings. True agentic systems are goal-oriented, autonomous, adaptive, and interactive, fundamentally distinct from traditional robotic process automation. In procurement, agentic AI can autonomously conduct multiple rounds of negotiation, comprehensively evaluate proposals, and balance multidimensional factors such as price, trends, and scope, achieving optimal outcomes while maintaining control and flexibility.
Against the backdrop of an anticipated rebound in M&A activity, CFOs need to master key strategies in letters of intent and acquisition agreements. Based on a guest article by Tatjana Paterno of the law firm Bass, Berry & Sims, this article distills five strategies: clearly defining cash-free debt-free terms, setting a timeline for working capital adjustments, managing RWI costs, limiting the exclusivity period, and engaging in financial and tax due diligence early, to protect cash flow and optimize transaction outcomes.
At Home Group filed for bankruptcy protection this week due to increased liquidity pressure from tariff policy uncertainty. CFO Jeremy Aguilar stated in court documents that the company relies heavily on overseas suppliers, and the tariff policy has had a 'significant impact' on it.
The SEC announced on Friday the appointment of Kurt Hohl as its new chief accountant, effective July 7. Hohl previously worked at the SEC (1989-1997) and spent 26 years at Ernst & Young. He will succeed Paul Munter, who stepped down in January. SEC Chair Paul Atkins stated that Hohl's experience and integrity will benefit markets and investors.
The New York State Senate passed a bill on Thursday offering an additional pathway to becoming a licensed Certified Public Accountant (CPA), and the bill has been sent to Governor Kathy Hochul for signing. Meanwhile, Florida has temporarily shelved CPA pathway reform after the bill was merged into broader controversial legislation.
Costco Wholesale disclosed in a filing with the U.S. Securities and Exchange Commission on Wednesday that Dan Hines, corporate controller and chief accounting officer, will step down at the end of this month after 35 years of service, remaining until January 2026 for his official retirement. The company has promoted Tiffany Barbre to replace him, effective July 1.