Leadership
WM pays former CFO $1 million departure bonus
Waste Management paid former Chief Financial Officer Devina Rankin a $1 million cash bonus on March 13 as she was about to step down from her role as executive advisor, in recognition of her contributions to the CFO transition and the integration of the healthcare solutions business.
Louis Dreyfus Promotes Freight Chief to Chief Financial Officer
Louis Dreyfus Company announced that global freight chief Sebastien Landerreiche will assume the role of Chief Financial Officer starting Wednesday. Following the unexpected passing of former CFO Patrick Trull at the end of December, the company had appointed an interim CFO. With rich experience in both freight and finance, Landerreiche will align the company's financial strategy with its growth plans.
Rhode Island and Louisiana Join National Wave of CPA Licensure Reform
Rhode Island and Louisiana have become the latest states to join the national movement for Certified Public Accountant (CPA) licensure reform, with legislators in both states introducing bills in late February to eliminate the 150-credit education requirement and establish three alternative pathways. This continues a nationwide trend that began with Ohio's pioneering reform last year, aimed at alleviating the accounting talent shortage. Currently, only Maine, Wyoming, and North Dakota have not actively pursued similar legislation.
From Lightweight ChatGPT Trials to Cautious AI Adoption: A CFO's Transformation Journey
In an article, Josh Schauer, CFO of insightsoftware, points out that the finance industry is at an inflection point of AI transformation, yet only 39% of finance teams are confident in actually using AI. Drawing on his own shift from lightly experimenting with ChatGPT in 2022 to using it as a thought partner, he illustrates AI's value in boosting efficiency and freeing up human capacity, while stressing that human judgment, ethics, and accountability remain irreplaceable. The article also shares the challenges he faces as a CFO in quantifying ROI and governance considerations when evaluating AI investments.
Tariff turmoil persists, companies plan to increase supply chain agility investment
The latest KPMG survey reveals that about 40% of U.S. companies plan to increase supply chain agility investment over the next year to cope with persistent trade and tariff policy uncertainty. Nearly half of companies are actively modeling and deploying tariff mitigation strategies, and 41% have deployed artificial intelligence to optimize trade compliance.
Costco faces customer lawsuit demanding refund of tariff surcharges
Illinois customer Matthew Stockov sued Costco in federal court on Wednesday, alleging that after tariffs imposed by the Trump administration under the International Emergency Economic Powers Act were ruled illegal by the Supreme Court, Costco still passed on tariff costs to consumers through price increases, constituting unjust enrichment. The lawsuit demands that Costco refund the overcharged tariff surcharges or share the tariff refunds it received.
Peloton appoints Chief Accounting Officer Saqib Baig as interim CFO
Peloton Interactive announced in a securities filing that Chief Accounting Officer Saqib Baig will serve as interim Chief Financial Officer starting March 27, succeeding Liz Coddington, who departed due to "external opportunities." Baig has served as CAO since November 2022 and has also held the role of CFO for the commercial division since August of last year. Previously, he worked at Meta, Colgate-Palmolive, GE Capital, and Big Four accounting firms. The company is facing declining subscription numbers and continues to advance its restructuring plan to cut costs.
Navan Faces Shareholder Class Action: Allegations of Materially Misleading IPO Documents
Travel platform Navan faces a proposed class action lawsuit, with plaintiffs alleging that its IPO registration documents contained material misstatements and omissions, failing to adequately warn of negative trends such as a surge in sales and marketing expenses and the departure of the CFO. Since its IPO last fall, the company's stock price has fallen nearly 60%.
Phoenix Copper dismisses chairman and CFO following misconduct investigation
Phoenix Copper Limited announced on Monday that it has dismissed Executive Chairman Marcus Edwards-Jones and Chief Financial Officer Richard Wilkins after an internal investigation confirmed misconduct involving financial transactions. The investigation found that between 2016 and 2025, approximately $1.8 million was paid to companies owned by Edwards-Jones without the board's knowledge or approval. The company also disclosed other unauthorized payments and has appointed Catherine Evans as interim non-executive chair.