Microsoft CFO Resigns to Join Start-Up

Popular Microsoft CFO, John Maffei, has resigned his postion to join a Vancouver, B.C. start-up called Worldwide Fiber, Inc., a company that manages fiber optic networks for its clients.

Maffei will be replaced by John Connors, who has been with Microsoft for 11 years.

Maffei leaves behind a legacy, known best to the media and shareholders, as a very conservative view of Microsoft revenues. Although he has no direct experience in fiber optic concerns to qualify him for his next job, Maffei did allign partnerships and investments between Microsoft and telecommunications giants like AT&T Corp., Nextel, Global Crossing and Telewest Communications.

Maffei also is the latest executive in a line of others to leave the company in favor of start-ups, and have left Microsoft with large amounts of equity due to their tenure and holdings.

You may like these other stories...

Planning has begun to determine the content, design, and structure of the next version of the Uniform CPA Examination – and the American Institute of CPAs (AICPA) is asking the accounting profession for its feedback on...
Read more from Larry Perry here and in the Today's World of Audits archive.As RMM (the combination of inherent and control risk) increases, more and better evidence is needed to evaluate financial statement assertions....
Treasury Secretary Lew to speak on tax reform, inversionsDamian Paletta of the Wall Street Journal wrote on Friday that Treasury Secretary Jacob Lew is planning a September 8 speech about a controversial corporate strategy...

Already a member? log in here.

Upcoming CPE Webinars

Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 10
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
Sep 18
In this course, Amber Setter will shine the light on different types of leadership behavior- an integral part of everyone's career.