Future of finance event; Kate Farms CFO on health; IBM CFO study; New CFOs at Norfolk Southern and Eli Lilly
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Editor's takeaways from CFO Live: The Future of Finance
Lauren Muskett , senior editor of CFO .com, provides her takeaways from the publication's recent virtual event. The event featured finance leaders from an array of industries and included Dr. Tim Naddy of the Savannah Bananas , Amy Butte of Navan , Eric Mason of the City of Quincy , Glenn Hopper of Eventus and John Cappadona of EverSmith Brands .
"If you’re looking for people right now to come and fill some roles for you, take a chance and go talk to the math departments. These kids are brilliant,” Naddy said. “The last two people I’ve had in my finance department who have been absolutely stellar individuals didn’t have a finance or an accounting degree. They had a math and stats background."
Kate Farm's CFO role is more than personal
Daniel Welch , CFO of Kate Farms , shares how the near-death of his father not only changed his outlook on health but inspired him to take his current CFO role.
"My father nearly passed away from a heart attack at a fairly early age, and his father died at an early age. It was a rude health awakening for me, and coming out of that experience I adopted a plant-based diet and then watched that improve my biomarkers. Now I’m out of the high-risk category and much healthier. I’ve personally seen the power a plant-based diet has on overall well-being."
BLS jobs report data indicates a continuing economic shift
In this week's edition of the Trial Balance series, the Bureau of Labor Statistics ' jobs report data for August had some troubling findings.
Here are the key figures that stood out:
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CFOs are under pressure to accelerate ROI from tech investments
According to new data from IBM ,CFOs and their fellow leaders are feeling pressure to start getting ROI on their technology investments. While the adoption is slow, surveyors report a variety of benefits to finance leaders who are incorporating AI, regardless of the cost, into their functions.
Norfolk Southern’s CFO Mark George replaces ousted CEO
Norfolk Southern has named CFO Mark George as its president and CEO, effective immediately. In conjunction, the company has also appointed Jason Zampi, previously senior vice president of finance and treasurer, as acting CFO.
The leadership shift follows the termination of the company’s previous CEO, Alan Shaw ,?after an internal investigation revealed an inappropriate relationship with Nabanita Chaterjee Nag , the company’s executive vice president of corporate affairs, chief legal officer and corporate secretary. Nag was also terminated as a result of the investigation.
Eli Lilly promotes Lucas Montarce to CFO
Pharmaceutical manufacturer 礼来 promoted Lucas Montarce to CFO, effective immediately, according to a company announcement.?Montarce takes over after the company’s former finance chief Anat A. left for the CFO job at Alphabet?in June.
In its push to corner the market on GLP-1 drugs, Eli Lilly’s leadership could be interested in Montarce’s extensive global internal leadership experience, combined with his recent financial leadership role in an area that has been a rapidly growing expenditure for the company over recent years.
Want more? Here's what we're reading:
This edition of Preferred Shares was created by reporter Adam Zaki .
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