CFO

Which candidate do you believe will best support businesses and the economy they operate in?

However, Gen Z’s expectations are far higher at almost $600K, according Empower’s recent survey that reveals major differences in generational compensation expectations. Gen Z’s compensation expectations are the highest among their older peers. Data suggests younger employees believe $587,797 annually is adequate for success, along with a net worth of $9,469,847. Baby Boomers, the oldest workers in the office, need less than a fifth of that salary to feel successful. They’ve deemed a salary of $99,874 and a net worth of $1,049,172 sufficient for success. https://lnkd.in/eiXepGwQ

Macy's?said the funds were not stolen, vendor payments were unaffected?and the individual responsible is no longer with the company. After an independent investigation and an internal forensic analysis during preparation efforts for their upcoming financial performance update, the company found $132 to $154 million unaccounted for cumulative delivery expenses from the fourth quarter of 2021 through the fiscal quarter ending Nov. 2, 2024. The employee responsible was then subsequently fired. https://lnkd.in/e8gmDsAj

The MIT Sloan CFO Summit event started with a talk on tech and CFO best practices but had its final keynote end abruptly after climate protesters targeted aramco’s finance chief. Roughly fifteen climate?protesters took the stage?during Al-Murshed’s session, abruptly ending the afternoon’s fireside chat.?Event organizers made a statement that they were the ones who made the call to conclude Al-Murshed’s session out of an “abundance of caution.” The Newton Police Department is currently investigating the incident. https://lnkd.in/eAkW3SUE

The U.S. Securities and Exchange Commission’s chair,?and a commissioner, have both announced their departure plans for the upcoming year. Gary Gensler will resign on Inauguration Day. His resignation comes in tandem with?bitcoin hitting unprecedented highs, an asset he is largely critical of. His knowledge of blockchain technology and the inner workings of digital assets is extensive,?as he has?taught courses at MIT?on blockchain technology. This has led to questions about?the origins of his decision-making process?as chair. https://lnkd.in/e8P9wARp

?? Preferred Shares: Climate protest disrupts MIT Sloan CFO Summit; Pentagon fails 7th consecutive audit; How CFOs can be better leaders This week's newsletter features a takeaways piece on the MIT Sloan CFO Summit's recent event, a story on the Pentagon's financial woes, a story on how CFOs can be better leaders, the latest noteable CFO job changes and more. Read this week's edition of Preferred Shares here:

Canva hires Zoom’s former CFO, Labcorp names a new finance chief and Wendy’s names a UPS exec?as chief financial officer. ? Kelly Steckelberg, formerly of Zoom, is named CFO of Canva ? Labcorp announces they will bring on Julia Wang as their new CFO ? Ken Cook is named CFO of The Wendy's Company ? The GIANT Company promotes William Regan to CFO ? Michael Agresta is named CFO of Coupa Software ? Calavo Growers brings back their former corporate controller and chief accounting officer James Snyder, CPA to be CFO Read this week's edition of CFOs On the Move here: https://lnkd.in/euK7-tMW

As the year ends, CFOs should focus on these key areas to ensure a smooth close process and improve operational performance. "Instead of manually matching transactions, auto-match features identify-and-process matches, speeding up the close process and reducing the risk of human error," writes Alanna Abreu of UHY LLP, Certified Public Accountants. "Implementing or enhancing automation in this area can significantly impact efficiency." https://lnkd.in/eSTwqRhJ

The Defense Department said it’s still unable to track its nearly trillion-dollar budget but remains on track to pass an audit by 2028. As President-elect Donald Trump and his administration?push to promote efficiency?within federal jobs while reducing government spending, the DoD’s slow progress toward financial accountability may face increased scrutiny by the chief executive and his team, as well as within future budget allocation decisions by Congress if they begin factoring in financial decision-making and fiscal responsibility to budget approvals. https://lnkd.in/eNzKqYhv

Recent layoffs at Boeing, Marriott Hotels, Stellantis and other big companies may indicate a growing labor trend as the year winds down. After October’s underwhelming jobs report resulted in payroll growth of just 12,000 employees — much less than anticipated and just a fraction of the 223,000 jobs added in September — end-of-year layoffs may continue to grow across all areas of the economy, particularly in manufacturing, media, technology, consulting and the federal government. https://lnkd.in/e6fjrFyf