The Trial Balance is CFO.com’s weekly preview of stories, stats and events to help you prepare.
Part 1 — Kyndryl, an IT infrastructure services spin-off of IBM, says its CFO has departed, “effective immediately.”
David Wyshner, the finance chief of IBM spin-off Kyndryl, is leaving his position as the company undertakes a review of its cash management practices, according to a pair of SEC documents filed Monday.
In one filing, Kyndryl announced that Harsh Chugh has been appointed interim chief financial officer while Wyshner and General Counsel Edward Sebold have departed “effective immediately.” That filing didn’t state the reason for the departures of Wyshner and Sebold.
In a separate filing on Monday, Kyndryl announced that it has begun a review of “its cash management practices, related disclosures (including regarding the drivers of the Company’s adjusted free cash flow metric), the efficacy of the Company’s internal control over financial reporting, and certain other metrics.” That review came after Kyndryl received “voluntary document requests … relating to such matters” from the Division of Enforcement in the SEC.
Kyndryl said it doesn’t anticipate any impacts on the company’s balance sheets or statements of income, though it has delayed filing its 10-Q quarterly report with the SEC as a result of the review. In the latter filing, Kyndryl said it won’t be able to file its quarterly 10-Q report for the quarter ended Dec. 31, 2025, “within the prescribed time period and without unreasonable effort and expense.”
When that report comes out, Kyndryl also noted that it expects to report “material weaknesses in the Company’s internal control over financial reporting for the period covered.” Those are likely to include “the effectiveness and strength of certain functions at the Company, including with respect to controls related to information and communication and tone at the top,” according to the filing.
In an email to CFO.com, a spokesperson for Kyndryl noted that the company is “proactively addressing this matter” and “developing a remediation plan that will be described in our 10-Q once it’s filed.” The spokesperson reiterated the personnel moves outlined in the SEC filing but did not say why the two executives are departing.
Kyndryl, which provides services for IT infrastructure, spun out from IBM in November 2021. On his LinkedIn profile, Wyshner is listed as CFO for Kyndryl since September 2021. The company formally announced his appointment as CFO in July of the same year.
In a late 2024 interview with CFO.com, Wyshner emphasized the importance of cash in internal financial controls. “They say cash is king, but I like to say cash never lies either,” he said at the time.
Meanwhile, the SEC didn’t immediately respond to a request for comment on the “voluntary document requests” it submitted to Kyndryl. As the name of the request suggests, companies aren’t required to respond, according to an October 2025 blog post by CM Law Partner Jonathan Scott.
“Recipients of voluntary requests do not have to respond, but it is almost always wise to do so, particularly because it is quite easy for SEC staff to obtain subpoena authority to force a response if needed,” Scott wrote. “If the SEC does issue a subpoena, responding is no longer voluntary. If a party refuses to respond to a subpoena, the SEC can file a civil action in U.S. District Court to enforce compliance (which makes an otherwise private matter, public) and courts will generally rule in the SEC’s favor.”
Part 2 — This week
Here’s a list of important market events slated for the week ahead.
Monday, Feb. 9 — None scheduled.
Tuesday, Feb. 10
- NFIB optimism index, Jan.
- U.S. retail sales, Dec.
- Employment Cost Index, Q4
- Import prices, Dec.
- Business inventories, Nov.
Wednesday, Feb. 11
- U.S. employment report, Jan.
- U.S. unemployment rate, Jan.
- Treasury budget, Jan.
Thursday, Feb. 12
Friday, Feb. 13
- Consumer price index, Jan.
- Core CPI, Jan.
Part 3 — Weekly listen: Uber’s incoming CFO talks to The Information
Last week, Uber’s incoming CFO, Balaji Krishnamurthy, joined The Information to discuss the company’s strategic priorities. The company’s long-term vision includes expanding its Total Addressable Market, competing effectively against Tesla and driving innovation in urban mobility, while maintaining disciplined capital allocation and prioritizing driver satisfaction.
“Uber is very, very bullish about autonomy. We think this is a technological disruption that is absolutely playing out… Uber’s TAM then becomes a trillion-dollar-plus if we can have autonomy unlock in the right way,” said Krishnamurthy.
