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The role of the modern chief financial officer is evolving from a control-focused function to a value-driven leadership position. Traditional CFOs prioritize cost control, reporting, and compliance, often limiting their strategic influence. In contrast, value-focused CFOs actively partner with business units, leverage data for strategic decisions, and help drive growth. The “PRO” framework—Performance, Risk, Opportunity—illustrates how CFOs can add value by managing outcomes, mitigating risks, and identifying growth opportunities. To fully empower these CFOs, boards and CEOs must broaden their mandates, support cross-functional collaboration, and invest in data and skills.

 

Forbes

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Citigroup has elected chief executive Jane Fraser as chair of the US bank’s board of directors and is paying her a one-off $25m bonus, underscoring her leadership position atop the lender as it pursues a radical overhaul. Citigroup joins other large U.S. banks, including Bank of America, JPMorgan Chase, Morgan Stanley and Wells Fargo, whose chief executives also lead the board of directors. “Citi is in a fundamentally different place than it was when these roles were separated,” said outgoing chair John Dugan, who will now be Citi’s lead independent director. “Jane’s very deliberate plan to make Citi a simpler and more focused bank has created meaningful shareholder value.”

 

American Banker

Financial Times

Wall Street Journal

During Tesla's third-quarter earnings call, chief executive Elon Musk referred to shareholder advisory firms Glass Lewis and Institutional Shareholder Services as "corporate terrorists" for opposing his proposed $1tn pay package. Musk criticized their recommendations, calling them "asinine" and claimed they have made poor suggestions in the past that could harm Tesla's future. Despite securing $28.09bn in revenue, Tesla's earnings per share fell short of expectations. Musk's previous $56bn pay package was blocked by a judge, and shareholders have been urged to vote against his latest proposal, which is contingent on future company performance.

 

Forbes

Amazon has unveiled a prototype of artificial intelligence (AI)-powered smart glasses designed to be used by its delivery drivers. The spectacles, dubbed "Amelia", include a camera, a built-in display that gives turn-by-turn directions, scans package codes and takes photos for proof of delivery. The glasses rely on a paired controller placed in a driver’s vest and Amazon solved the challenge of battery life by having swappable battery packs. Beryl Tomay, Amazon transportation vice president, said it would be optional for drivers and their contracted companies to use the smartglasses and that they planned to distribute them for free to those that do. The glasses are experimental, she added, noting that Amazon's plans for them were still in flux.

 

BBC News

Reuters

Conservative activist Robby Starbuck has filed a defamation lawsuit against Google, alleging that its artificial intelligence (AI) tools falsely connected him to sexual-assault claims and to a white nationalist. The lawsuit seeks more than $15m in damages. Many of the claims related to inaccurate information in Bard that Google addressed in 2023, said José Castañeda, a spokesman for Alphabet unit Google. Inaccurate information is a “well-known issue for all LLMs, which we disclose and work hard to minimize,” he added. “If you’re creative enough, you can prompt a chatbot to say something misleading.” 

 

Reuters

Wall Street Journal

An investor group led by Jana Partners and NFL player Travis Kelce has acquired a 9% stake in Six Flags Entertainment. The group aims to engage with the amusement park operator's management to enhance shareholder value and improve visitor experiences. Following the announcement, Six Flags' shares rose by 17.7%, although they remain down 47% for the year. The company reported a loss of $319.4m in the first half of the year, with attendance dropping 9% due to adverse weather and a challenging consumer environment.

 

NBC News

Reuters

Wall Street Journal

Reuters reports that Apollo Global Management is working with UBS on the sale of Hispanic grocery chain Heritage Grocers Group, which owns chains such as El Rancho Supermercado, Cardenas Markets, and Tony's Fresh Market. The company generates around $150m in EBITDA and over $2n in revenue. However, its sales have been pressured this year by factors including softer consumer spending trends, and a sense of caution among its core customer base due to Imigration and Customs Enforcement raids.

 

Reuters

Starbucks Workers United members will begin voting on Friday regarding a strike authorization measure, with a wave of rallies and pickets planned across the country. If approved, the strike itself—the third to take place across the U.S. since December—would be open-ended, with specifics to be determined. The union, which held a national wave of pickets in 35 cities in September and October, claims it would cost the company less than one average days’ sales to settle the contract. Starbucks spokesperson Jaci Anderson said in a statement that “Workers United only represents around 4% of our partners but chose to walk away from the bargaining table. If they’re ready to come back, we’re ready to talk.”

 

CNBC

President Donald Trump's mass firings of federal workers during a prolonged government shutdown may hinder the implementation of key tax incentives established in his tax-cut legislation. Over 1,400 Treasury Department employees were dismissed, with a focus on the Community Development Financial Institutions Fund, which oversees the New Markets Tax Credits and Opportunity Zones programs. Pravina Raghavan, former head of the fund, expressed concern, stating: “It blows your mind. You made something permanent, but you're not going to run it, so why make it permanent?” The programs have attracted over $100bn in investments, but without adequate staffing, their effectiveness is at risk. Sen. Mark Warner (D-VA) criticized the cuts, highlighting the importance of these tax credits as a bright spot in the legislation.

 

US News and World Report

The California Film Commission announced that a new Jumanji movie is among 52 film projects awarded production incentives, totaling approximately $334m in tax credits. These projects are projected to create around 8,900 jobs for cast and crew, alongside over 46,000 background actors, generating an estimated $1.4bn in economic activity. Gov. Gavin Newsom emphasized the importance of the film industry, stating, “These investments reaffirm that California isn't just where stories are told, it's where the future of storytelling is built.” Notable projects include Michael Mann's Heat 2 and Netflix's The Fifth Wheel. The incentives come after a coalition of Hollywood studios and unions lobbied for increased funding due to challenges like runaway production and recent strikes.

 

Los Angeles Times

PwC has found, in a survey of over 4,000 U.S. adults, that more than 70% of Generation X and Millennials are using or interested in artificial intelligence (AI)-assisted healthcare tools, compared with 56% of the overall population, driven by caregiving pressures and time constraints. Cost concerns remain widespread, with 60% of Gen X and Millennials fearing healthcare affordability if they lose insurance, and nearly 30% of respondents overall delaying care due to cost. “They just have a lack of time,” said Thom Bales, principal and health services advisory leader at PwC. “And so I think that when you see their openness, it is a call to simplifying their life.”

 

Healthcare Dive

Neiman Marcus has released its 2025 Fantasy Gifts, continuing a tradition of extravagant offerings. This year's catalogue includes a $135,000 Bugatti Baby II, a custom saddle by Christian Louboutin for $47,000, and a $490,000 luxury expedition in the American West. The retailer's Christmas Book began in the 1950s, featuring unique gifts like matching Beechcraft airplanes. "These often outrageous and one-of-a-kind gifts are part fantasy, part indulgence," said a spokesperson. A portion of proceeds will support charities, maintaining the spirit of giving during the festive season.

 

Forbes