Leadership
Commvault's former CFO returns to the top financial position after two years
Commvault announced on Monday that former Chief Financial Officer Gary Merrill has returned to the company's top financial position, effective immediately. Merrill returns to the CFO role after two years as Chief Commercial Officer, following the departure of his predecessor Jennifer DiRico in January to pursue other opportunities. The company also appointed Geoff Haydon as Chief Customer and Field Operations Officer.
CFO: Up to 30% of Cloud Spending Considered Wasteful
Software company Azul released a report stating that 69% of CFOs consider 10% to 30% of their cloud spending to be wasteful, nearly 90% of CFOs say cloud costs are rising, and two-thirds of enterprises have elevated cloud cost oversight to the board level.
xAI CFO Departs, According to The Information
xAI's Chief Financial Officer Anthony Armstrong has departed, becoming one of the latest in a wave of senior management exits at the company. Armstrong assumed the role in October last year, having previously worked at Morgan Stanley. His departure comes about two months after SpaceX acquired xAI, as SpaceX prepares for an IPO.
Incoming Chief Financial Officer of the University of Connecticut Discusses Higher Education Mission and the 'March Madness' Effect
In an exclusive interview, Anthony Rini, the incoming Chief Financial Officer of the University of Connecticut, stated that despite the men's basketball team's loss to the University of Michigan in the NCAA finals, the team's performance will still enhance the university's visibility and potentially boost enrollment. He also shared his views on higher education funding models, the value of sports events, and his priorities upon taking office.
Caterpillar appoints internal veteran Kyle Epley to succeed retiring CFO
Caterpillar has appointed company veteran Kyle Epley as its next chief financial officer, effective May 1, 2026, succeeding Andrew Bonfield, who is retiring. During Bonfield's tenure, the company achieved record performance, and he will serve as an advisor until October 1 after retirement.
Adyen launches intelligent treasury management tool to address corporate treasury fragmentation pain points
Adyen launched an intelligent treasury management tool on Thursday to help businesses integrate fragmented banking and payment systems. Early adopters include Etsy and Expedia Group. Research shows that companies manage an average of 5-6 primary banks and over 40 bank accounts, hindering liquidity flow.
British American Tobacco appoints former executive Dragos Constantinescu as Chief Financial Officer
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.
Super Micro launches new independent investigation into lawsuit involving co-founder
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.
Faire CFO: Board Construction and Evolution Are Key to Growth
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's CFO Announces Retirement, Will Receive $3 Million Severance
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.