It’s February, and that means it’s safe to say that most public company CFOs have made it through the first earnings call of the year. Although, we have a feeling earnings season pressure will remain high this calendar year.
Visa is bidding farewell to its CFO of the past eight years. Vasant Prabhu is retiring at the end of September, and will stay on until a replacement is found. The announcement came at a time where Visa is in flux, adding a new CEO this month; it’s also rumored to be prioritizing M&A.
Salary: $1,104,239 base 2022
If you’re a few years into the CFO role and realize you would like to move on to new pastures, why not consider the COO role? Apparently, it’s possible! Prabir Adarkar, CFO at DoorDash, is making the switch to be operating chief at the food delivery company. It’s not a one-for-one swap though; Ravi Inukonda, current VP of finance and strategy, will take over as CFO.
Salary: $350,000 base (no change upon COO appointment)
If becoming COO isn’t your cup of tea, it doesn’t look like other roles are necessarily out of reach either. Twilio Inc., a cloud communication platform, has shifted its current CFO and COO, Khozema Shipchandler, into the role of president of one of its new spin-offs, Twilio Communications. The shift is a part of its reorganization efforts, which has also included laying off 17% of staff. Aidan Viggiano, an SVP, will take on the finance chief position.
Salary: $850,000 base (Viggiano, new CFO)
Airbus, the European aerospace company, has appointed Dr. Thomas Toepfer to the CFO role, which he will assume in September. The manufacturer faced a unique challenge being a multinational firm while choosing its CFO. It seems the Oktoberfest faction won, but the firm isn’t giving up on its Mediterranean summer dreams, appointing Xavier Tardy as temporary CFO until the fall.
Salary: TBA
Being an interim CFO can pay off and it did for (at least) two finance leaders this month—Joanne Knight, who is taking on the CFO role officially at agribusiness Cargill, and Michael McMullen at Yeti, a travel gear company.
Salary: $450,000 base for McMullen.
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