Business
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A wave of CFO retirements is reshaping the Fortune 500—AT&T’s Pascal Desroches is the latest
Good morning. CFO turnover continues across the Fortune 500, and AT&T’s latest leadership transition is another sign of a changing generation of finance chiefs. AT&T (No. 35 on the Fortune 500) announced this week that Pascal Desroches, senior executive vice president and CFO, will retire effective Dec. 31. Jennifer Biry, a former longtime AT&T finance…
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Kevin Warsh’s hawkish tone: What CEOs need to know about rates today
In today’s CEO Daily: Questions about the Fed loom large. The big leadership story: Introducing Europe’s Most Innovative Companies The markets: Mixed globally with the KOSPI and Nikkei hitting fresh highs. Plus: All the news and watercooler chat from Fortune. Good morning from Detroit, where we hosted a reception yesterday at Gilly’s Clubhouse to bring…
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Brinker’s CIO spent years rebuilding restaurant tech. Now, the Chili’s operator is ready to explore more AI
When Chris Caldwell, the chief information officer at Brinker International, is asked about his artificial intelligence strategy, he first gently guides the conversation to a less glamorous, but crucial IT topic: reliable Wi-Fi. “Before we jump into AI use cases, we have to make sure a lot of the core technology is working well,” says…
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CFO pay surged 8% last year—and long-term incentives now account for 63% of the average package
Good morning. CFO pay is rising but not in the way you might expect. New data from Compensation Advisory Partners (CAP), exclusively shared with CFO Daily, examines 140 large companies with at least $5 billion in revenue and a median revenue of $15.6 billion. While CFOs continue to gain influence, their compensation remains closely tied…
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TIAA CEO Thasunda Brown Duckett is undertaking a retirement revolution—with $1.5 trillion to back it up
In today’s CEO Daily: A sit-down with TIAA CEO Thasunda Brown Duckett The big leadership story: Robinhood slashes jobs to avoid being a ‘heavily-layered’ organization. The markets: Mostly up as investors await the Federal Reserve’s rate decision. Plus: All the news and watercooler chat from Fortune. Good morning. Fortune Editor-in-Chief Alyson Shontell writing from New…
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Trump’s OBBBA will cap federal loans on July 1. Republicans are going over Trump’s head to save student loans for nurses
On July 4 last year, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law, a sweeping legislation that touched on almost every aspect of American life from immigration to taxes to education. One such provision was caps on federal student loan borrowing, touching on one of Trump’s campaign promises to lower…
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CEO David Cordani built Cigna into a $275B juggernaut but now wants to be ‘somewhat forgotten’
In today’s CEO Daily: Diane Brady interviews Cigna CEO David Cordani. The big leadership story: Inside Vietnam’s fast-growing economy. The markets: Mixed globally as the Nikkei 225 touches a new intraday high. Plus: All the news and watercooler chat from Fortune. Good morning. The hardest decision for a CEO isn’t just knowing what to build.…
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This tech CEO fired 80% of his workforce over AI resistance. Here’s what he’s learned since then
Good morning! Most companies think they have an AI adoption problem. They don’t. They have an unlearning problem, according to Deloitte vice chair China Widener. “If I said to you, ‘Everything you know about making spaghetti, I need you to let go of,’ you would look at me like I was stupid,” she said. “We…
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The management lesson behind FedEx Freight’s break from FedEx
At what point does a business need a different operating model? FedEx Freight CEO John Smith believes his company has reached that point. The newly independent company, which spun off from FedEx earlier this month, generates roughly $9 billion in annual revenue and operates one of the largest less-than-truckload networks in North America. Until recently,…
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Trump says U.S.-Iran peace deal is done, but hard questions still loom
In today’s CEO Daily: The pros and cons of the U.S.-Iran peace deal. The big leadership story: A warning from Amazon’s CEO triggered the Mythos shutdown. The markets: Stocks rally globally on news of the truce. Plus: All the news and watercooler chat from Fortune. Good morning. The U.S.-Iran peace deal is “now complete,” President…