July 9 is a seminal moment for Houston-based Stewart & Stevenson Services Inc. On that day, no member of the Stewart and Stevenson families will play a significant management role in the 102-year-old company’s power structure for the first time. In addition, Donald Stevenson will no longer serve as a director after 29 years. As […]
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Deloitte Touche Tohmatsu Names Rohr New CFO
Rohr Global accounting firm Deloitte Touche Tohmatsu recently promoted Jeffrey Rohr to CFO of Deloitte Touche Tohmatsu, which includes its U.S. member firm, Deloitte & Touche. Rohr has served as a regional manager of the U.S. firm’s Midwest practice in Chicago since 1995, and succeeds the retiring Bill Fowler, who has been CFO for nine […]
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$14.5b American Electric Power Names Secretary, GC
Columbus, Ohio-based American Electric Power announced that John Keane would join as SVP, general counsel and secretary, assuming responsibility for all corporate legal affairs and supervision of AEP’s legal department. Keane is the former president of Bainbridge Crossing Advisors, a corporate/financial services company focusing on best practices in governance and SOX compliance, and before that […]
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FASB Issues Draft For Measurement Of Fair Value
The Financial Accounting Standards Board issued a proposal on fair value measurements last week, in response to constituents’ requests for improved guidance on the subject. The 109-page document is intended to establish a framework for measuring fair value that would apply to financial and nonfinancial assets and liabilities, thereby making the measurements more reliable and […]
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KeyCorp Alum Joins LexisNexis As Compliance Officer
Maynard News and business information services company LexisNexis Group recently announced that Angela Maynard would assume the role of vice president and chief regulatory compliance officer in its U.S. division. Maynard, a former senior vice president and chief privacy executive at KeyCorp, will lead the Dayton, Ohio, company’s regulatory compliance organization, and provide regulatory advice […]
Posted inData Privacy
Q&A With Chief Compliance Officer At $1.9b Scotts Co.
This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. So, is it true that you once showed Scotts’ chief executive pictures of other CEOs doing the perp walk for […]
Posted inBoards & Shareholders
Qwest Agrees To Governance Changes In Settlement
Qwest Communications is the latest among a growing number of companies to agree to significantly alter its corporate governance as part of a settlement agreement in a shareholder lawsuit—but the novel pact received scant attention in the national press and contains several unusual provisions. The embattled telecom company agreed to shell out $25 million to […]
Posted inAccounting & Auditing
PCAOB Chair: Big Four Lack Thorough Documentation
In a speech to a House subcommittee, PCAOB Chairman William McDonough said a narrow review of last year’s audits conducted by the Big Four revealed “significant audit and accounting issues.”
Posted inBoards & Shareholders
Board Practices Like Night And Day Since SOX
OIt’s like night and day,” says Bill Ide, a partner at McKenna Long & Aldridge, comparing current board committee procedures with his earlier experience as general counsel and corporate secretary of Monsanto. “We’re in an era of process- and rules-based operation,” notes Ide, who also chairs the governance and nominating committee of restaurant operator AFC […]