Good morning. Much like the volatility noticed in April, market uncertainty elevated in October amid renewed issues over a possible flare-up within the U.S.–China commerce battle. Lynn Martin, president of the New York Inventory Change (NYSE) Group, provided some recommendation for enterprise leaders.
“Stay calm, invest for the long term,” Martin mentioned throughout our dialogue on the Fortune Most Highly effective Girls Summit in Washington, D.C., this week. “Keep doing the things you’re doing to drive business,” she informed the viewers. “Our economy is super strong. The fundamentals are good. The banks are doing well. There’s a vibrancy associated with the dealmaking environment.” Massive banks reported robust earnings this week.
Martin famous that public listings on the NYSE have come roaring again in 2025. “The IPO market is really, really strong,” she mentioned. “We’ve had a great year so far across all sectors.”
The digital finance sector, specifically, has carried out particularly nicely—from crypto exchanges to stablecoin corporations like Circle, which held its IPO on the NYSE, she mentioned. In design and fintech, notable IPOs included Figma and Klarna. She’s listening to from CEOs who’re looking forward to the federal government to reopen, which signifies additional exercise.
Martin applauded the U.S. Securities and Change Fee (SEC) for issuing up to date steering final week that enables some IPOs to maneuver ahead beneath a 20-day effectiveness rule because of the current authorities shutdown.
She additionally mentioned she doesn’t essentially see headwinds for corporations pursuing IPOs, however famous that many are selecting to remain personal for longer. “Some of that is due to the costs of being a public company,” she mentioned.
“We were incredibly optimistic about the proposal that SEC Chair Paul Atkins recently issued to give CFOs the option of semiannual reporting,” Martin added. “I don’t know how many CFOs will actually take the SEC up on that.”
Atkins introduced final month that the SEC would suggest a rule change permitting publicly traded corporations to go for semiannual somewhat than quarterly reporting.
Martin mentioned semiannual reporting may assist personal corporations ease into the general public markets. The NYSE has lengthy advocated this strategy, she added.
“I think the rigidity around reporting has become onerous, and there’s a cost associated with that,” she mentioned. “There’s a scaffolding that comes with being a public company—the quarterly earnings calls, the prep work, the roadshows, the disclosures upon disclosures. Simplifying some of those requirements would certainly lessen the cost.”
Resilience and adaptableness proceed to outline the businesses that endure.
Leaderboard
Fortune 500 Energy Strikes
Christopher DelOrefice was appointed CFO of Ulta Magnificence (No. 375), efficient Dec. 5. Chris Lialios will proceed to function interim CFO till then. DelOrefice succeeds former CFO Paula Oyibo, who left the corporate in June. He joins Ulta Magnificence from medical expertise firm Becton Dickinson & Co., the place he has served as EVP and CFO since September 2021. Earlier than that, DelOrefice spent over 20 years with Johnson & Johnson in varied monetary management roles, together with VP of investor relations, VP of finance, and CFO of North America client.
Each Friday morning, the weekly Fortune 500 Energy Strikes column tracks Fortune 500 firm C-suite shifts—see the latest version.
Extra notable strikes this week:
Lydia Brown has been appointed CFO of Citrin Cooperman, an expert companies supplier for personal, center market companies and excessive net-worth people, efficient Oct. 13. Brown succeeds Larry Diamond, who will retire after three years of devoted service because the agency’s CFO. Brown brings greater than 30 years of expertise within the skilled companies business, together with senior monetary management roles throughout each private-equity-backed and publicly traded corporations. Most not too long ago, she served as CFO for HKA, a worldwide consultancy.
Vitor Roque, SVP of finance, enterprise models and company monetary planning and evaluation, has been named interim CFO at BD (Becton, Dickinson and Firm) (NYSE: BDX), a worldwide medical expertise firm. Chris DelOrefice, EVP and CFO, will depart the corporate efficient Dec. 5 for the CFO function at Ulta Magnificence. BD is conducting a search to establish a everlasting successor.
Jonathan Mir was appointed CFO of Bitfarms Ltd. (Nasdaq/TSX: BITF), a North American vitality and digital infrastructure firm, efficient Oct. 27. Bitfarms’ present CFO, Jeff Lucas, is retiring and can stay on as a strategic monetary advisor and advisor via Q1 2026. Mir has greater than 25 years of capital markets expertise in vitality infrastructure. He spent most of his profession at Lazard Inc., the place he served as head of North American energy, vitality and infrastructure. Most not too long ago, Mir was a managing director in Financial institution of America’s Pure Assets and Vitality Transition group.
Craig Chamberlin was appointed EVP and CFO of Vertiv Holdings Co. (NYSE: VRT), a digital infrastructure firm, efficient Nov. 10. Chamberlin succeeds David Fallon, who beforehand introduced his intention to retire from Vertiv and function a advisor to the corporate via Dec. 31. Chamberlin joins Vertiv from Wabtec Company, the place he most not too long ago served as group VP and CFO of the corporate’s transit section.
Mark Daniel was appointed CFO of Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical-stage biopharmaceutical firm. Daniel is a senior finance chief with greater than 25 years of expertise. He additionally brings deep treasury and capital markets experience related to Atossa’s transition from medical improvement to commercialization.
Kris Smith, CFO of Suncor Vitality (NYSE: SU) will retire on Dec. 31, after greater than 25 years of service. Throughout his tenure on the firm, Smith has held a number of roles, together with EVP, downstream and interim CEO. Troy Little, at present SVP of exterior affairs, will likely be appointed CFO. Little has over 25 years of monetary expertise.
Massive Deal
The AuditBoard’s Danger Intelligence Report combines proprietary platform information—together with main U.S. corporations—with survey insights from greater than 400 international danger leaders, protecting how enterprises are managing AI dangers.
A key discovering is that enterprises are desirous to put money into AI; nevertheless, inconsistent execution—not finances—is the barrier conserving most organizations caught in a “middle maturity trap.” Whereas AI is creating new dangers, enterprises with a mature strategy to danger administration are utilizing the expertise to strengthen governance, embed steady monitoring, and rework oversight into foresight, in accordance with the report.
Fifty-three % of enterprises report implementing AI-specific instruments, and 39% plan to develop AI/ML expertise. Nonetheless, fewer than 30% really feel ready for upcoming AI governance necessities.
Going deeper
Overheard
“Smart, early career, and motivated employees can be an organization’s greatest asset, especially at a time when AI early adopters are in high demand—but it’s critical to understand and mitigate the risks each generation brings with them.”
—Nick Kathmann, chief data safety officer at LogicGate, writes in a Fortune opinion piece titled, “Gen Z’s digital native status is a double-edged sword. They have cyber blind spots.”
