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CEO “successes” at global brands happen as often as unicorn sightings. In fact, the term may be as much of an oxymoron as “jumbo shrimp” or “military intelligence.”Just ask Nike.The past two CEO appointments (both external hires) have successfully steered the sports giant down a path that would be difficult for even the most technologically advanced sneakers to gain traction. Nike has a new CEO and the internet is buzzing with optimism. This is good news for the company, which has been in an alarming decline. Naturally, having studied and coached successors for over 16 years, I am equally optimistic.I…

“There is no difference between you and me,” Daymond John told a standing-room-only crowd at the opening ceremony of the inaugural Finance and Accounting Technology Expo held this week at the Javits Convention Center in New York. Ta. “I call you shark friends.”John was referring to the fact that the CFOs and their teams assembled are all focused on “how do we improve our people, our investments, and a variety of other things…” You are the people who help me with all the crappy things I shop for. shark tank”But John, whose penniless-to-riches story filled with hip-hop legends captivated audiences,…

Every CEO change is a high-stakes gamble for the board and the company. Effective succession planning can reduce disruption and ensure progress, but if poorly executed, it risks cascading failures throughout the organization. At a recent Board Summit, Verisk CEO Lee Shavel and DDI SVP of Leadership Insights Matt Paese revealed what it takes to make succession planning a lasting success. Mr. Shavel, a CEO with diverse experience in the financial and data analytics industries, shared his journey through Verisk's succession process and highlighted three key lessons that directors can apply to their own processes.1. Please avoid nominating candidates. One…

For large public companies, the December 1, 2023 deadline to comply with the SEC's final clawback rules was not unusual from a corporate governance perspective. Prior to the effectiveness of this requirement, many companies voluntarily adopted provisions that substantially meet, or in some cases exceed, the financial restatement clawback policies required by the Dodd-Frank Act. In fact, a recent study by F.W. Cook reported that 80% of large-cap companies have clawback provisions that exceed those set by the SEC.The SEC's clawback rules are prescriptive and narrow in scope, requiring companies to maintain a policy of recovering excess incentive payments from…

To understand how artificial intelligence is dramatically reshaping the cybersecurity risk landscape, consider the sources of fraud that most of us are most familiar with: from family, friends, and colleagues. However, in reality, just checking such emails is sufficient. A ruse to defraud a company or gain access to its systems. Timothy Howard, a partner at Freshfields, said such scams have become steadily more sophisticated over the years, and that using AI to create more convincing communications and scammers will make them less likely to occur at all. It's reaching a new level, he told directors gathered at a recent…

Alexandra BeteshChief Customer Officer, Visual Lease, a maker of accounting and lease management software based in Woodbridge, New Jersey.So why are you here today? What’d you come looking for?I came to learn to see what the finance persona that we interact with so much is really learning for their next year, what their focuses are, what their challenges could be, to make sure that I can better understand them and better speak to them with our product, our services, things like that.When you talk to people in finance and accounting, what are they asking for, what’s the vibe out there…

Thirty years ago, if you told a CFO that being the steward of their organization's data was a strategic responsibility, they might have found it difficult to imagine. Not so today. A single source of truth, enabled by robust data management and governance, remains a goal that most organizations strive for. But getting there is essential to building the foundation for forming and guiding smart business strategies.To discuss how CFOs are progressing beyond financial gatekeepers to data stewards, our Katie Kuehner-Hebert joins Aaron Levine, CFO of Toronto-based FP&A platform company Prophix. I spoke to him. As a finance executive at…

While Sho-Joung Kim-Wechsler was finding success in her finance career, with roles at Deloitte, PwC and more, she knew her true passion was in the art world. Now, as the founder of XVERSO.IO, a premium digital art marketplace, Kim-Wechsler lives in the intersection of art, technology and business. Transitioning to entrepreneurship comes with its own challenges. In this episode, Jack McCullough sits down with Kim-Wechsler to discuss how her finance background informs her decisions as a small business leader, the tricky balancing act of risk and how XVERSO.IO is revolutionizing the art marketplace.Listen by clicking below. The Q&A, lightly trimmed…

We recently taught and spoke to over 100 future leaders from around the world. Based on our interactions, we believe two major societal trends are creating challenges for both them as young professionals and for you, their leaders. · Success culture. The amount of recognition and recognition given to highly successful people in many fields varies dramatically compared to an “average” or “highly successful” person. For example, elite athletes, entertainers, influencers, founders, investors, and CEOs are making many times more than in the past at very young ages. · Comparative culture. The rise of instant global communication has created an…

Our Board of Directors is made up of experienced and talented people who know how to ask the tough questions, are capable of constructive discussions, and are passionate about steering the company in the right direction. That should ultimately lead to timely and wise decisions…right? Not always. As experienced directors know, even boards with top talent and the best intentions can fall prey to biases, entrenched thinking, and internal dynamics that prevent effective decision-making. . “Problematic group dynamics affect all kinds of teams,” Paul DeNicola, principal at PwC's Governance Insights Center, told the assembled audience. CBM's recent Board of Directors…