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Workhuman has a new CFO

Scott Dussault is the new chief financial officer at Framingham software firm Workhuman.Workhuman


Workhuman has a new CFO

Software firm Workhuman has hired Scott Dussault to be its new chief financial officer. Dussault helped shepherd ecommerce software provider Demandware through an initial public offering as its CFO, before leaving in 2015. (Demandware was later acquired by Salesforce.) Dussault said it’s possible the venture-backed Workhuman might consider going public as well but there are no current plans to do so. The company has dual headquarters in Framingham and Dublin, Ireland. Dussault, who previously worked as CFO of cloud-computing software firm Nasuni, will be based in Framingham, alongside his boss, chief executive Eric Mosley. Workhuman has about 700 employees and specializes in software that helps people recognize their colleagues for their work, with a goal of improving employee retention and engagement. Dussault takes over for Steve Cromwell, who has shifted from CFO to be the firm’s chief accounting officer. — JON CHESTO



Michael Porter stepping down from the Initiative for a Competitive Inner City

Harvard Business School professor Michael Porter is stepping down as chair of the Initiative for a Competitive Inner City, a nonprofit that he launched in 1994 and has chaired since that time. Boston banker Ronald Homer, the board’s vice chair and treasurer, will take over as chairman while Porter will continue to provide advice as chairman emeritus. Porter launched ICIC after civil unrest in Los Angeles placed a spotlight on the economic inequities in cities across the country. The Boston-based organization provides assistance and advice to owners of small businesses in inner cities. Homer is chief strategist of impact investing with RBC Global Asset Management. His long track record in the financial services industry includes helping establish in 1983 and then leading the Boston Bank of Commerce, now known as OneUnited Bank, the largest Black-owned bank in the United States. ICIC’s operations are led by former state treasurer Steve Grossman, who was recruited by Porter to become its chief executive in 2015. — JON CHESTO



Jack’s Abby has a new distributor in Massachusetts

Jack’s Abby has found a new distributor in Massachusetts, the Sheehan Family Companies, after it decided to use the state’s new franchise reform law to break free of its old distributor. The Framingham brewer, which makes Jack’s Abby and Springdale beers, announced the arrangement with the Sheehan companies on Wednesday. However, Jack’s Abby remains involved in a legal dispute with distributor Atlantic Beverage over its decision to end its partnership with Atlantic. — JON CHESTO


Two Boston companies team up

Two publicly traded Boston area biotechs announced on Wednesday that they will join forces on a five-year preclinical research collaboration. Beam Therapeutics, a Cambridge-based genome editing startup, will partner with Waltham-based Apellis Pharmaceuticals on up to six programs aimed at targeting tissues modulated by a part of the immune system, including in the eye, liver, and brain. Beam is pioneering a new approach to CRISPR called “base editing,” which aims to allow scientists to alter individual letters of DNA. Under the terms of the deal, Beam will use its base editing technology to conduct research for Apellis, which will retain the rights to develop the programs into potential therapies. Apellis will pay Beam $50 million upfront for the research, as well as $25 million one year after the collaboration begins, and Beam is eligible for future milestone and royalty payments on the programs it licenses back to Apellis. Beam also has the option to split the development and commercialization effort on one of the six programs. Apellis has 280 employees based in Massachusetts, and Beam has 245. — ANISSA GARDIZY



Companies added nearly 700,000 jobs in June

US companies added more jobs in June than expected, indicating further progress in the nation’s labor market recovery. The 692,000 gain in private payrolls followed a downwardly revised 886,000 increase in May, according to ADP Research Institute data released Wednesday. The advance in hiring suggests robust demand, diminishing economic uncertainty, and a return to many pre-pandemic activities continue to drive additional employment gains, especially within the leisure and hospitality sector. The data also indicate businesses are having some success filling a multitude of open positions. The figures come just before the government’s monthly jobs report on Friday, which is forecast to show private payrolls increased by 610,000, an acceleration from a weaker-than-expected May print. The unemployment rate is expected to fall to 5.6 percent as participation inches higher. ADP’s payroll data represent firms employing nearly 26 million workers in the United States. — BLOOMBERG NEWS


Slack adds new features to appeal to a hybrid workforce

Slack Technologies is releasing new features to help people work with their colleagues whether in the office or at home, a sign of the stepped-up competition around managing a hybrid workforce. Slack Huddles, one of the new tools, will let users have casual audio conversations across channels and direct messages on the workplace communications platform. Other features include the ability to create and play back video and audio recordings with a full transcript as well as an employee directory called Slack Atlas. — BLOOMBERG NEWS


Switzerland buys Lockheed war planes, Raytheon missiles

Switzerland selected Lockheed Martin’s F-35 warplane for a 5 billion Swiss franc ($5.5 billion) defense order, choosing the model over competing jets from Dassault Aviation, Boeing, and Eurofighter. The US aircraft were “by far” the least expensive and also won on technical grounds, thanks to their ease of operation and superior ability to detect aerial threats. In addition to the 36 planes, the Swiss government will spend 2 billion francs on Raytheon Technologies’ Patriot missile-defense network. — BLOOMBERG NEWS



Citigroup says flexible work policies will be a plus post-pandemic

Citigroup joined rivals including UBS in touting its flexible work policies as a tool that will offer a competitive edge in recruiting and retaining top staff. The lender’s employees will have the option of working from home at least part time, investment banking co-head Manolo Falco said at a virtual press briefing on Wednesday. That will set the bank apart from some US rivals that are taking a more hard-line approach to remote work, he said, naming JPMorgan Chase and Goldman Sachs. — BLOOMBERG NEWS


Bumble to open cafe in NYC

On July 24, Bumble, the women-make-the-first-move app, will open its inaugural Bumble Brew in New York. The café and wine bar for daters, networkers, and friends was first announced two years ago as slated to open in fall 2019 in Manhattan’s SoHo. Permitting issues and then the pandemic delayed the launch. Now, the restaurant will be located next to Pasquale Jones on Kenmare Street in the Nolita neighborhood downtown. — BLOOMBERG NEWS