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GE Disbands Corporate Audit Program

General Electric Co.

is disbanding its Corporate Audit Staff program, a rigorous multiyear rotation through various divisions that the conglomerate has long used to groom future leaders.

The CAS program, a proving ground for young GE finance executives, dates back to the early 20th century. Employees worked long hours and traveled the world analyzing various business units, looking for waste or reviewing internal controls.

The end of the program is part of Chief Executive Larry Culp’s effort to simplify operations. GE has sold off assets, cut costs and shrunk the headquarters staff that oversee divisions such as GE Energy and GE Aviation. Last month, GE reported costs for its corporate operation dropped 9% in the third quarter to $275 million.

The change also was influenced by the company’s new finance chief, Carolina Dybeck Happe, who formally joined earlier this year.

The CAS program traditionally reported to the CFO. The full

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Quaker Chemical Corp (KWR) Q3 2020 Earnings Call Transcript

Logo of jester cap with thought bubble.

Image source: The Motley Fool.

Quaker Chemical Corp (NYSE:KWR)
Q3 2020 Earnings Call
Nov 6, 2020, 8:30 a.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Greetings. Welcome to Quaker Houghton Third Quarter 2020 Investor Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to Michael Barry, Chairman, CEO, and President. Thank you. You may begin.

Michael BarryChairman of the Board, Chief Executive Officer and President

Good morning, everyone. Joining me today are Mary Hall, our CFO; Robert Traub; our General Counsel; and Shane Hostetter, our Head of Finance and Chief Accounting Officer. We have slides for our conference call. You can find them in the Investor Relations section of our website at www.quakerhoughton.com.

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