September 26, 2014

With the retail CFO’s role evolving so quickly in the last few years, what changes will the future bring? Look for CFOs to be hired from outside the company, oversee more divisions and spend significant time overseas in an increasingly global retail world.

The finance function, of course, will continue to be critical, especially for public companies.

September 26, 2014

As the traditional CFO role expands beyond accounting and compliance to a more strategic role and partner to the CEO, the capabilities that future CFOs will need to bring to the table are also evolving. Today, according to recruiters, successful CFOs need strategic thinking, leadership and communications skills worthy of a national politician, along with experience in running a business.

September 26, 2014

Strategist, adviser, communicator, futurist: Retail chief financial officers have seen their role broaden so much in recent years that, in some cases, they have become virtual partners with the CEO. Once responsible primarily for financial stewardship, the CFO is embracing a growing number of additional roles encompassing strategic planning, technology and perhaps even a bit of crystal ball gazing. Some are even taking on COO functions.

One thing is certain: CFOs are not just number crunchers any more.

September 26, 2014

Strategist, adviser, communicator, futurist: Retail chief financial officers have seen their role broaden so much in recent years that, in some cases, they have become virtual partners with the CEO. Once responsible primarily for financial stewardship, the CFO is embracing a growing number of additional roles encompassing strategic planning, technology and perhaps even a bit of crystal ball gazing. Some are even taking on COO functions.

One thing is certain: CFOs are not just number crunchers any more.

September 26, 2014

Defining the scope of a CFO’s oversight is challenging because it’s still evolving. Besides the overarching responsibility of overseeing and reporting finances, the role now often includes strategic planning, technology and investor relations.

New areas of reporting, including corporate social responsibility and environmental performance, are also being added. And in some companies, the CFO is even charged with overseeing the push into global markets.

September 26, 2014

Broadening responsibilities at a business brings with it an exponential increase in worries. And retail is no exception. As CFOs have become more forward-looking and strategic, their concerns have grown beyond retail basics to also encompass such issues as growing competition, data security, regulatory affairs, global economic health and globalization.

September 16, 2014

Build-A-Bear Workshop announced the appointment of Voin Todorovic as the company’s new CFO, effective Sept. 15.

August 4, 2014

Panera Bread Company announced that Roger Matthews, executive VP and CFO, has resigned his position to pursue other opportunities.

August 1, 2014

Christopher & Banks Corporation announced that Peter G. Michielutti has been promoted to executive VP, COO and CFO, effective immediately.

July 24, 2014

Rite Aid Corporation announced that Darren Karst is joining Rite Aid as executive VP and CFO, effective Aug. 20.

July 21, 2014

Dirk Montgomery, executive VP and CFO of Ascena Retail Group Inc. since January 2013, has accepted a position with a healthcare-related company based in Florida.

July 1, 2014

Chain Store Age recently spoke with Alison Paul, vice chairman, Deloitte LLP and retail and distribution leader, about the expanding role of the CFO in retail organizations:

July 1, 2014

Chain Store Age recently spoke with Alison Paul, vice chairman, Deloitte LLP and retail and distribution leader, about the expanding role of the CFO in retail organizations:

June 30, 2014

Tile Shop Holdings announced the appointment of Kirk Geadelmann as its new CFO.

June 27, 2014

Chico's FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

June 24, 2014

More strategic. That’s how Greg Esgar, CFO of Massage Envy Spa, the nation’s largest therapeutic massage chain, sums up the evolving role of today’s CFO. Esgar joined the Scottsdale, Arizona-based business as financial chief in 2004, two years after it was founded. As part of the executive team, he helped spur the company’s growth from 17 locations to its present total of nearly 1,000 sites in 49 states. With its membership-based, monthly-fee business model, Massage Envy Spa eschews the luxury amenities and high prices of traditional day spas.

June 24, 2014

Simon Property Group has announced that Andrew Juster, a 25-year Simon veteran, will move up to the post of CFO in early 2015, succeeding retiring CFO Stephen E. Sterrett.

June 24, 2014

As the key cog in the wheel of a retail chain’s financial structure, today’s retail CFOs find themselves caught in the crosshairs of senior management and stakeholders demanding maximum profit and measurable growth amid increased consolidation and tightened revenues.

But that’s nothing new. Financial chiefs have always had to balance profit and loss with expansion strategies. What has changed is that a whole host of added responsibilities has now entered the mix.

June 9, 2014

Mattress Firm Holding Corp. announced the promotion of Alex Weiss to executive VP and CFO of the company, effective July 30, 2014, the beginning of the retailer’s third fiscal quarter. He succeeds Jim Black who transitions into the role of senior corporate advisor to Mattress Firm through the end of the current fiscal year.

June 9, 2014

Vanessa Wittman, senior VP and CFO of Motorola Mobility, a subsidiary of Google, has been appointed the Ulta Beauty board of directors and as a member of its audit committee, effective June 5, 2014, following her election at the company’s annual shareholder meeting. Wittman joins the Ulta Beauty board with more than 25 years of experience in finance and technology.

June 2, 2014

99 Cents Only Stores named Christopher Laurence as the company's interim CFO, treasurer and secretary.

May 29, 2014

Teen retailer Delia’s announced that its CFO, David Dick, has resigned.

April 28, 2014

Petco has named Larry Rutkowski as executive VP and CFO.

March 31, 2014

Kevin Davidson has joined merchandising intelligence solutions provider Quantum Retail Technology Inc. as its CFO. Davidson brings more than 20 years of financial management and corporate development experience to Quantum and will report to CEO Steve Buege.