Here's a Wall Street Journal story about Rolls-Royce's future CFO, Stephen Daintith.
He's joining the company in 2017 from Daily Mail & General Trust PLC, the publisher, so you might be wondering, "Why does a manufacturer want some dude who's been working at a publisher?" Good question! Especially considering that the company's accounting is a little unusual:
In July, Rolls-Royce announced a new reporting structure, which it plans to explain in more detail later this year. The underlying reason for the changes is the introduction of a new accounting standard called IFRS 15 in 2018.
The accounting practice at Rolls-Royce confused analysts and market observers for more than a decade. “Rolls-Royce’s accounting structure was opaque and hard to understand,” [Jefferies analyst Sandy] Morris said. “The impact of stopping this practice was negative for Rolls-Royce’s results.”
This might sound like a job for someone with robust technical knowledge making Daintith's selection even more strange, however, analysts say that this is all part of the plan:
Mr. Daintith has been appointed CFO not because of his industry background but because of his spirit, the analysts say. “The one thing CEO [Warren] East repeats is that he wants to inject pace into the organization. That includes the CFO position,” said Mr. Morris.
Spirit? Pace? Sure, why not. I think you could've got someone cheaper by grabbing the most over-caffeinated person in the finance department, though.
[WSJ]
BNP Paribas is looking for someone to join their accounting team that will be responsible for the day to day maintenance and control of the assigned sections of the general ledger.