Good morning. Similar to the volatility observed in April, market uncertainty increased in October amid renewed concerns over a potential flare-up in the U.S.\u2013China trade war. Lynn Martin, president of the New York Stock Exchange (NYSE) Group, offered some advice for business leaders.<\/p>\n
\u201cStay calm, invest for the long term,\u201d Martin said during our discussion at the\u00a0Fortune Most Powerful Women Summit<\/a>\u00a0in Washington, D.C., this week. \u201cKeep doing the things you\u2019re doing to drive business,\u201d she told the audience. \u201cOur economy is super strong. The fundamentals are good. The banks are doing well. There\u2019s a vibrancy associated with the dealmaking environment.\u201d<\/p>\n JPMorgan Chase<\/a>, Goldman Sachs, Citi, and Wells Fargo<\/a> all reported strong earnings<\/a> this week.<\/p>\n Martin noted that public listings on the NYSE have come roaring back in 2025. \u201cThe IPO market is really, really strong,\u201d she said. \u201cWe\u2019ve had a great year so far across all sectors.\u201d<\/p>\n The digital finance sector, in particular, has performed especially well\u2014from crypto exchanges to stablecoin firms like Circle, which held its IPO on the NYSE, she said. In design and fintech, notable IPOs included Figma and Klarna. She\u2019s hearing from CEOs who are eager for the government to reopen so they can begin the IPO process. <\/p>\n Martin applauded the U.S. Securities and Exchange Commission (SEC) for issuing updated guidance<\/a> last week that allows some IPOs to move forward under a 20-day effectiveness rule due to the recent government shutdown.<\/p>\n She also said she doesn\u2019t necessarily see headwinds for companies pursuing IPOs, but noted that many are choosing to stay private for longer. \u201cSome of that is due to the costs of being a public company,\u201d she said.<\/p>\n \u201cWe were incredibly optimistic about the proposal that SEC Chair Paul Atkins recently issued to give CFOs the option of semiannual reporting,\u201d Martin added. \u201cI don\u2019t know how many CFOs will actually take the SEC up on that.\u201d<\/p>\n Atkins announced last month that the SEC would propose<\/a> a rule change allowing publicly traded companies to opt for semiannual rather than quarterly reporting.<\/p>\n Martin said semiannual reporting could help private companies ease into the public markets. The NYSE has long advocated this approach, she added.<\/p>\n \u201cI think the rigidity around reporting has become onerous, and there\u2019s a cost associated with that,\u201d she said. \u201cThere\u2019s a scaffolding that comes with being a public company\u2014the quarterly earnings calls, the prep work, the roadshows, the disclosures upon disclosures. Simplifying some of those requirements would certainly lessen the cost.\u201d<\/p>\n Resilience and adaptability continue to define the companies that endure.<\/p>\n Have a good weekend. <\/p>\n Sheryl<\/strong>\u00a0Estrada<\/strong> Leaderboard<\/p>\n Fortune 500 Power Moves<\/b><\/p>\n Christopher DelOrefice<\/strong> was appointed CFO of Ulta Beauty<\/a> (No. 375<\/a>), effective Dec. 5. Chris Lialios will continue to serve as interim CFO until then. DelOrefice succeeds former CFO Paula Oyibo, who left the company in June. He joins Ulta Beauty from medical technology company Becton Dickinson & Co., where he has served as EVP and CFO since September 2021. Before that, DelOrefice spent over 20 years with Johnson & Johnson in various financial leadership roles, including VP of investor relations, VP of finance, and CFO of North America consumer.\n<\/p>\n Every Friday morning, the weekly Fortune 500 Power Moves column tracks Fortune 500 company C-suite shifts\u2014see the most recent edition<\/a>.\u00a0<\/p>\n More notable moves this week:<\/strong><\/p>\n Lydia Brown<\/b>\u00a0has been appointed\u00a0CFO of\u00a0Citrin Cooperman<\/a>, a professional services provider for private, middle market businesses and high net-worth individuals, effective Oct. 13. Brown succeeds Larry Diamond, who will retire after three years of dedicated service as the firm’s CFO. Brown brings more than 30 years of experience in the professional services industry, including senior financial leadership roles across both private-equity-backed and publicly traded companies. Most recently, she served as CFO for HKA, a global consultancy.\n<\/p>\n Vitor Roque<\/b>, SVP of finance, business units and corporate financial planning and analysis, has been named interim CFO at BD (Becton, Dickinson and Company)<\/a> (NYSE: BDX), a global medical technology company. Chris DelOrefice, EVP and CFO, will depart the company effective Dec. 5 for the CFO role at Ulta Beauty. BD is conducting a search to identify a permanent successor.\n<\/p>\n Jonathan Mir<\/b> was appointed CFO of\u00a0Bitfarms Ltd.<\/a> (Nasdaq\/TSX: BITF), a North American energy and digital infrastructure company, effective Oct. 27. Bitfarms\u2019 current CFO, Jeff Lucas, is retiring and will remain on as a strategic financial advisor and consultant through Q1 2026.\u00a0 Mir has more than 25 years of capital markets experience in energy infrastructure. He spent most of his career at Lazard Inc., where he served as head of North American power, energy and infrastructure. Most recently, Mir was a managing director in Bank of America\u2019s Natural Resources and Energy Transition group.\n<\/p>\n Craig Chamberlin<\/b> was appointed EVP and CFO of Vertiv Holdings Co.<\/a> (NYSE: VRT), a digital infrastructure company, effective Nov. 10. Chamberlin succeeds David Fallon, who previously announced his intention to retire from Vertiv and serve as a consultant to the company through Dec. 31. Chamberlin joins Vertiv from Wabtec Corporation, where he most recently served as group VP and CFO of the company’s transit segment.\n<\/p>\n Mark Daniel<\/b> was appointed CFO of\u00a0Atossa Therapeutics, Inc.<\/a> (Nasdaq:\u00a0ATOS), a clinical-stage biopharmaceutical company. Daniel is a senior finance leader with more than 25 years of experience. He also brings deep treasury and capital markets expertise relevant to Atossa’s transition from clinical development to commercialization.<\/p>\n Kris Smith<\/b>,\u00a0CFO of\u00a0Suncor Energy<\/a> (NYSE: SU) will retire on Dec. 31, after more than 25 years of service. During his tenure at the company, Smith has held several roles, including EVP, downstream and interim CEO. Troy Little, currently SVP of external affairs, will be appointed CFO. Little has over 25 years of financial experience.\u00a0\n<\/p>\n Big Deal<\/p>\n
sheryl.estrada@fortune.com<\/a><\/p>\n