Latest news
British American Tobacco issued a press release on Thursday announcing the appointment of former company executive Dragos Constantinescu as Chief Financial Officer and Executive Director, effective September 1. Constantinescu will succeed interim CFO Javed Iqbal, who will continue to serve as the company's Digital and Information Director after stepping down. Constantinescu spent 16 years at BAT before moving to Asahi Group as an executive. This appointment comes at a critical time as the company advances its smokeless transformation and faces EU tobacco regulatory assessments.
AI server manufacturer Super Micro Computer announced on Tuesday that it has launched a new investigation led by independent directors into the March indictment involving co-founder Yih-Shyan "Wally" Liaw and two others. The investigation has no set timeline, is led by former Deloitte audit partner Scott Angel and others, and is supported by the law firm Munger, Tolles & Olson and consulting firm AlixPartners. The company reiterated that it has not been named as a defendant, and the three individuals involved have left or terminated their relationships.
The U.S. Securities and Exchange Commission (SEC) announced that David Woodcock, a partner at Gibson Dunn & Crutcher and former SEC official, will return to the agency on May 4 to serve as Director of the Enforcement Division. Woodcock has criticized former Chair Gary Gensler's 'regulation by enforcement' approach, and his views align with current Chair Paul Atkins' enforcement reform direction.
Wholesale retail platform Faire has appointed former Wayfair CFO Michael Fleisher as audit committee chair and its newest board member. CFO Jason Lee stated that this move aims to bring in talent with both industry experience and strategic vision to strengthen the board's culture of debate and accelerate the company's growth.
Levi Strauss & Co. announced Tuesday that Chief Financial and Growth Officer Harmit Singh will retire after a successor is appointed, and will transition to a special advisor role until November 30. The company will pay him $3 million in cash severance.
The latest New York Fed survey shows that US consumers' inflation expectations for the coming year rose to 3.4% in March, with gasoline prices expected to rise by 9.4%. Meanwhile, small business confidence has declined for the second consecutive quarter, with inflation becoming their primary concern. Analysts point out that the oil price shock triggered by the Iran war is bringing stagflation risks.
Financial Accounting Standards Board (FASB) Chairman Rich Jones announced on Monday that it will add a new research project to monitor current accounting trends related to data center infrastructure investments and non-traditional lending, including private credit. This move comes as the accounting treatment of data center financing by large technology companies is under external scrutiny.
Former Wayfair CFO and Gartner CEO Michael Fleisher currently serves on the boards of four companies, including recently being appointed as the audit committee chair of wholesale retail platform Faire. He believes that a board role that merely attends four meetings a year and provides oversight is 'not truly interesting,' and he seeks to practically help business teams improve. This article explores his philosophy of board engagement, experience with growth stages, and advice for CFOs joining a board for the first time.
In middle-market private companies, a phenomenon known as 'cumulative capitalization drift' is quietly suppressing EBITDA. This article analyzes its causes, manifestations, and impacts, and proposes strategies such as interim reviews to help CFOs unlock undervalued enterprise value.
OneStream has become a private company again after completing its $6.4 billion privatization deal with Hg, with its Class A common stock ceasing to trade on Nasdaq and the leadership team unchanged. Founder and CEO Tom Shea stated that with Hg's partnership, the company will accelerate innovation and expand its global scale.