The Morning Ledger: When CFOs Are Married to Each Other, Who Does the Taxes?
Good morning. Andrew and Saori Casey helped their son move into a New York City apartment in June as he prepared to start a job after graduating from the University of Chicago. From the perspective of two chief financial officers, the milestone in part represented a cost savings right on target: a person coming off their payroll, reports Mark Maurer .
“We paid for his school. Now we’re looking for the ROI,” Saori says with a smile.
Family finances can be tricky when two chief financial officers share the same household. Some CFO power couples avoid talking about their personal finances and, after long days at the office, prefer to outsource it, akin to chefs who order a pizza when they get home. Others, armed with their finance backgrounds, get more involved.
Saori Casey became the second CFO in her marriage in January when wireless-speaker maker Sonos appointed her to the role after more than a decade as a finance executive at Apple. Her husband, Andrew Casey, already held the title at cloud-security company Lacework, his second CFO job.
But at home, they are far from masters of their finances. The Caseys initially tried to manage their investments themselves until they realized they hadn’t checked their 401(k)s or rebalanced their portfolio in roughly a year. About a decade ago, they hired an investment adviser.
“Because we’re focused on our work, we have concluded we’re terrible at personal finances,” Saori says, referring to investments.
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The Day Ahead
Earnings:
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Economic Indicators:
The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey.
S&P CoreLogic releases its Case-Shiller National Home Price Index for May.
The Conference Board releases its Consumer Confidence Index for July.
CFO Moves
BlackBerry, the Waterloo, Ontario-based cybersecurity company, named Tim Foote as chief financial officer, effective immediately. He succeeds Steve Rai, who has resigned from the role. Foote joined BlackBerry almost a decade ago following the company’s acquisition of Good Technology in 2015, and has served in a number of roles including managing the company’s international finance operations, vice president of investor relations and most recently as CFO of the cybersecurity division. Rai, who is leaving to pursue other opportunities after more than 10 years with the company, will stay on until September to ensure a smooth transition, BlackBerry said.
—Adriano Marchese contributed to today’s Ledger
About Us
The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax accounting, regulation, capital markets, management and strategy.
Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.
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It's interesting to see how finance professionals manage their personal finances, especially when both partners are in the same field. The anecdotes about neglected 401(k)s and delegating bill-paying are quite relatable.
Owner/Broker at Lake Gaston Edge Realty and Lake Gaston Celebrations Rental Homes
5moThe one who accepts delegation does almost everything! 👩🎓