Latest news with #financialleadership
Travel Daily News
2 days ago
- Business
- Travel Daily News
XCF Global appoints Pamela Abowd as Chief Accounting Officer
XCF Global appoints Pamela Abowd as Chief Accounting Officer and strengthens financial leadership as it advances growth and prepares for Nasdaq listing. NEW YORK CITY, NY – XCF Global Capital, Inc., a key player in decarbonizing the aviation industry through Synthetic Aviation Fuel ('SAF'), announce the appointment of Pamela Abowd as XCF's Chief Accounting Officer. With over two decades of leadership in corporate accounting, tax, and financial operations across the energy industry, Ms. Abowd will play a key role in XCF's next phase of growth as a public company. Ms. Abowd most recently served as Vice President, Corporate and Accounting Operations at Tellurian Inc., where she led all aspects of accounting operations, financial reporting, and tax provisions across state, federal, and international compliance jurisdictions. She also led the accounting and tax due diligence process for Tellurian's merger with Woodside Energy and the post-merger accounting integration. Prior to Tellurian Inc., Ms. Abowd held senior tax leadership roles at Cheniere Energy Inc., where she led tax strategy initiatives and implemented advanced compliance systems. 'We are thrilled to welcome Pamela to XCF as our new Chief Accounting Officer,' said Mihir Dange, Chief Executive Officer of XCF Global. 'Pamela's extensive expertise in tax compliance, tax incentive programs, merger accounting integration, and financial reporting will be critical as we scale our business. We're confident that her leadership will play a key role in supporting our growth and the future success of XCF.' In addition, Jonathan Seeley has joined XCF Global and serves as Vice President, Treasurer. Mr. Seeley has over 15 years of experience in corporate finance and treasury, with a focus on debt and equity transactions, project finance, and mergers and acquisitions. He has held senior leadership roles at Tellurian Inc. and other public and growth-stage companies, where he led initiatives across corporate treasury and risk management. The appointments further strengthen XCF's finance organization as the company scales operations and prepares for its planned Nasdaq listing. XCF and Focus Impact BH3 Newco, Inc. entered into an equity line of credit purchase agreement (the 'ELOC Agreement') with Helena Global Investment Opportunities I Ltd., an affiliate of Helena Partners Inc., subject to the completion of XCF's previously announced business combination with BH3 Acquisition Company. The ELOC Agreement is intended to serve as a supplementary source of liquidity, offering XCF and Focus Impact BH3 Newco, Inc. the optionality to pursue accretive growth opportunities as they emerge.
Yahoo
5 days ago
- Business
- Yahoo
AVI Calls for Changes at Gerresheimer
LONDON, June 06, 2025--(BUSINESS WIRE)--Asset Value Investors ("AVI") has sent an open letter to the Supervisory Board of Gerresheimer AG ("Gerresheimer") calling for it to make changes to its financial leadership. You can find the published letter here. AVI invested in Gerresheimer in 2024 and manages a 3.5% stake on behalf of institutional clients. Gerresheimer holds a valuable position in the Containment Solutions & Delivery Systems industry, with high barriers to entry and attractive long-term growth prospects. These have been reaffirmed in 2025 with reports of private equity interest in Gerresheimer. This value is not currently reflected in its shares, which trade at a substantial discount to their sum-of-the-parts. The shares now sit some -56% below their 52-week high. Shareholder value is at risk. AVI believes that: New financial leadership is required to repair the relationship with the market and restore credibility. Gerresheimer should establish a capital allocation committee to oversee and review the Company's capital allocation and capital structure. Gerresheimer should look to exit Moulded Glass. Time is of the essence and a new and improved plan for Gerresheimer should be presented at a capital markets day later this year. Joe Bauernfreund, CEO and CIO of AVI, commented: "Gerresheimer is a leading player in the Containment Solutions and Delivery Systems industry, which offers attractive growth. We believe that Gerresheimer should benefit from this. "We understand the market's scepticism surrounding Gerresheimer and we believe that these steps are the key to unlocking value and repairing its relationship with the market." Wilfrid Craigie, Senior Investment Analyst at AVI, added: "Despite the strategic transformation to move Gerresheimer higher up the value chain, we believe that the market is assigning Gerresheimer a large discount, leading to its current valuation. "We believe that Gerresheimer's current valuation is being dragged down by Moulded Glass, and the best way to improve its financial profile and valuation is to perform a swift strategic review to exit it." About Asset Value Investors: AVI is an investment management company established in London, United Kingdom, in 1985. AVI has invested in Global and Japanese equities for nearly 40 years. AVI manages AVI Global Trust plc ("AGT"), AVI Japan Opportunity Trust plc ("AJOT"), and MIGO Opportunities Trust ("MIGO"). AGT, AJOT, MIGO are public companies whose shares are listed and traded on the main market of the London Stock Exchange. View source version on Contacts Quill PR - AVI@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
02-06-2025
- Business
- Associated Press
KORE Announces Chief Financial Officer Transition
Anthony Bellomo Appointed Executive Vice President and Chief Financial Officer ATLANTA, June 2, 2025 /PRNewswire/ -- KORE Group Holdings, Inc. ('KORE' or the 'Company'), a global leader in Internet of Things ('IoT') Solutions and IoT Connectivity provider, today announced the appointment of Anthony Bellomo as Executive Vice President, Chief Financial Officer and Treasurer, effective June 2, 2025. 'We are excited to welcome Anthony to KORE,' said Ron Totton, KORE President and Chief Executive Officer. 'He brings a great deal of financial leadership experience and expertise in the communications space. His track record in senior financial roles will make him a valued member of the KORE executive team as the Company continues to focus on profitable growth.' Bellomo comes to KORE from Mitel Networks Corporation where he has spent the last 15 years in financial roles of increasing responsibility, including as Group Vice President, Finance M&A and Chief Accounting Officer since 2018. Previously, he served in a senior financial role at Onex Corporation and as Audit Manager at Deloitte & Touche LLP. He is a Chartered Accountant in Ontario, Canada, Certified Public Accountant in the State of Illinois and CFA charterholder. Bellomo has a Bachelor of Mathematics and Master of Accounting from the University of Waterloo in Waterloo, Ontario, Canada. Bellomo will succeed Paul Holtz, who departed as Executive Vice President, Chief Financial Officer and Treasurer of the Company effective May 30, 2025. Holtz is expected to remain with the Company as a non-executive advisor through June 30, 2025 to effect an orderly transition of duties. 'We thank Paul for his contributions and commitment to KORE and wish him the best in his future endeavors,' added Totton. About KORE KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers' business outcomes. For more information, visit Cautionary Note on Forward-Looking Statements This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as 'believe,' 'guidance,' 'project,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'plan,' 'predict,' 'potential,' 'seem,' 'seek,' 'future,' 'outlook,' and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future revenue growth and profitability and other financial and performance metrics. These statements are based on various assumptions and on the current expectations of KORE's management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including those Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE's expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. KORE Investor Contact Vik Vijayvergiya Vice President, IR, Corporate Development and Strategy [email protected] (770) 280-0324 View original content to download multimedia: SOURCE KORE Group Holdings, Inc.
Forbes
29-05-2025
- Business
- Forbes
Controller Or CFO: How To Know When You're Ready For Either
Kyle Hollenbeck, Cofounder of Blt Kitchens and Family of Brands. Deciding to hire a controller or CFO isn't easy—and it certainly isn't cheap. But for many growing businesses, it might be the most impactful investment you can make. Not having the right financial leadership in place can cost far more in the long run through missed opportunities, inaccurate reporting and poor strategic planning. I know this from experience: We waited too long. For a while, we leaned on what we thought were enough—a solid accountant, a diligent in-house bookkeeper. Our P&L looked fine on the surface. But underneath, there were cracks. No one was guiding the financial strategy. No one was questioning assumptions, modeling cash flow accurately or making sure we were optimizing for profitability and growth. Here's the truth: Your accountant might keep you compliant. Your bookkeeper might keep you organized. But neither is responsible for thinking like an owner. That's where a controller or CFO comes in—and they're not the same. A controller focuses on accurate financial reporting, internal controls and ensuring the books are tight and clean. They're tactical, ensuring compliance and reliable data. A CFO (chief financial officer) is strategic. They turn numbers into insight, help you forecast the future and often sit at the leadership table to steer the company's financial direction. They think big-picture—margins, fundraising, expansion, debt strategy, tax posture—and they ask the hard questions. Industry standards suggest that when your company hits $10 to $20 million in annual revenue, it's time to bring on a controller. For us, we didn't even start having serious conversations about it until we were doing over $11 million across the board—and not with the best profit margins. That delay cost us. At our shared kitchen and commissary business, the need was clear. We were essentially operating as a real estate and property management company, and with that came complex financials and significant tax opportunities tied to owning buildings. Getting someone in place who could help us navigate that was a no-brainer. But with my other business, it was a different challenge. We needed to understand what kind of marketing spend we could really afford. Did it make sense to launch into a new market? Could we support a seasonal push or innovation? Without clean data and strong financial forecasting, those decisions felt like guesswork. It was all about knowing the numbers—and having someone who knew how to interpret them. The good news? You don't have to go all-in immediately. Fractional CFOs and controllers are more common—and more powerful—than ever. They bring high-level experience without the full-time salary. Sometimes, a few hours a week of the right person's time can dramatically shift your business trajectory. Looking back, one of our biggest financial mistakes wasn't bad budgeting—it was waiting too long to put someone in place who could see around corners and help us move with confidence. If you're unsure whether it's time, it probably is. Take a step back and audit your current financial setup. Are your reports accurate? Are your decisions backed by clear data and forecasting? Who's truly responsible for financial strategy? Explore fractional options, even if it's just for a diagnostic or cleanup. The earlier you invest in clarity, the better prepared you'll be for growth, risk and opportunity. Because the numbers matter—but only if you know what they're really telling you. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Finextra
20-05-2025
- Business
- Finextra
The CFO's Role Has Never Been More Vital: By Laurent Descout
In a year defined by economic shocks and geopolitical instability, from proposed tariffs to inflationary pressures, one executive stands increasingly at the centre of strategic decision-making: the Chief Financial Officer (CFO). No longer just a financial gatekeeper, today's CFO is a central architect of business resilience, growth, and operational agility. They are expected to navigate macroeconomic uncertainty, lead real-time treasury operations, manage currency volatility and trade disruption, all while ensuring the business stays on course and compliant. This expanded remit is why the CFO has become one of the most essential and future-facing roles in the organisation and why more are stepping into the top job. New data shows that 34% of outgoing CFOs became president or CEO in 2024, up from 20% the prior year. Their elevation reflects a shift in expectations, it's no longer just about managing the books, but leading the business through structural volatility. CFOs now contribute across the enterprise, helping to address shareholder activism, geopolitical turbulence, cybersecurity threats, and environmental instability. They are expected to chart a steady course in a world defined by disruption from AI acceleration and shifting workforce dynamics to climate change and capital market transformation. To do this effectively, CFOs need more than just financial acumen. They need foresight, speed, and the right tech stack. A Role Transformed by Data and Speed In the past, CFOs focused on what had already happened from auditing, reporting and ensuring compliance. But today, the CFO must look forward to leveraging data-driven insights to chart future courses. This transformation has brought with it a broader portfolio. CFOs now oversee procurement, investor relations, M&A activity, post-merger integration, enterprise transformation, IT, and even cybersecurity. A recent McKinsey survey highlights how CFOs are increasingly tasked with enterprise-wide performance management and collaborating across the C-suite. Another survey found that 95% of finance leaders are working well beyond traditional finance functions, including AI (60%), customer acquisition (46%) and marketing (41%). More than half (55%) say they have significant control over their company's investment priorities. What's enabling this shift? Data. CFOs have more information at their fingertips than ever before, but also more responsibility to turn that data into actionable insight. However, this is both a blessing and a curse. With a plethora of tools on the market, the modern CFO's tech stack can often be fragmented and inefficient. The Simplicity Imperative Many CFOs are still reliant on a patchwork of tools and platforms, each solving a narrow problem, whether it be spend management or FX hedging, but none built for the interconnected reality of modern finance. This fragmented tech stack leads to siloed data, manual processes, and time-consuming reconciliation, the very things that slow down decision-making when speed is paramount. Almost all (91%) finance leaders say they are expected to make decisions faster than ever before, according to research by Confluent. With the number and urgency of decisions rising, there's no room for brittle, inefficient systems. Therefore, CFOs need integrated, simplified solutions to empower smarter, faster decisions. The rise of fintech has introduced solutions that can help CFOs by automating financial processes, integrating disparate functions and providing real-time insights. Treasurers benefit from centralised platforms that unify services like cross-border payments, FX operations and treasury management. This holistic approach does more than reduce errors and equips CFOs with the clarity and agility to make impactful decisions. Today's CFO must be risk-ready and future-focused As businesses face accelerating change, from AI advancements to geopolitical headwinds, the CFO remains at the intersection of every critical decision. Their ability to embrace technology, simplify complexity, and lead with a risk-balanced perspective will determine the organisation's resilience and growth. The exponential CFO is not only equipped to measure enterprise value but also to drive it. Their role will only grow in importance as they continue to bridge the gap between strategy and execution, purpose and profit, and present and future. Whether it's responding to policy shocks like Trump's tariffs or meeting the baseline expectations of instant payments and real-time reconciliation, today's CFO must combine clarity with speed. They need the tools and the mandate to act fast, lead boldly and drive the business forward through complexity.
