CFO Moves this week include:
|Wal-Mart Stores, Inc.||PetSmart, Inc.||General Dynamics|
|CIRCOR International, Inc.||Reply! Inc.||Harris Broadcast|
|Active Power||ArcSoft, Inc||Arctic Cat Inc.|
|Berry Plastics Group, Inc.||TapInfluence||Cannabis Science, Inc.|
|Link Solutions, Inc.||Innovolt Inc.||MVB Financial Corp.|
|Veran Medical Technologies||XO Group Inc.||Alliance One International, Inc.|
|Iveda Solutions||Brown-Forman Corporation||CALIENT Technologies, Inc.|
|Liberty Energy Corp.||Marathon Patent Group, Inc.||MapR Technologies, Inc.|
|Fidus Investment Corporation||Jasper Wireless||Simulations Plus, Inc.|
|ARI Network Services, Inc.||Mistras Group, Inc.||Atlanticus Holdings Corporation|
|Bitzio, Inc.||IDACORP, Inc.||Summit Healthcare REIT, Inc.|
|The ServiceMaster Company||AvalonBay Communities, Inc.||Capital Southwest Corporation|
|Multimedia Games Holding Company, Inc.||Rockville Financial, Inc.||Texas Pacific Land Trust|
|Hemispherx Biopharma, Inc.||Global Power Equipment Group Inc.|
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CFO Moves is published by Samuel Dergel (Executive Search Consultant and CFO & Financial Executive Search Specialist with Stanton Chase International). Samuel can be reached by email at firstname.lastname@example.org or by phone at +1 (415) 738-2070.
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Wal-Mart Stores, Inc. (NYSE: WMT) announced that its board of directors has appointed Pamela Craig, retired chief financial officer of Accenture, as a new member of the company’s board. Craig will also serve as a member of the company’s Audit Committee. She served as the Accenture’s chief financial officer from October 2006 until July 1, 2013. Ms. Craig retired from Accenture on Aug. 31, 2013.
PetSmart, Inc. (NASDAQ: PETM) elected Elizabeth Nickels to fill a newly created vacancy on its Board of Directors. Nickels is currently the Executive Director of the Herman Miller Foundation and has held several executive positions with the organization for the past twelve years including President of Herman Miller Healthcare and Chief Financial Officer. She is also presently a board member of Spartan Stores, Inc. Prior to joining the Herman Miller Foundation, Nickels served as the Vice President and Chief Financial Officer of Universal Forest Products, Inc. for seven years.
General Dynamics (NYSE: GD) elected Jason W. Aiken to be senior vice president and chief financial officer of the corporation, effective Jan. 1, 2014, to succeed L. Hugh Redd II, who has informed the company of his intention to retire. Aiken is the senior vice president and chief financial officer of Gulfstream Aerospace Corp., a wholly owned subsidiary of General Dynamics. Aiken has been senior vice president and CFO of Gulfstream since September 2011. Previously, he was vice president and controller of General Dynamics. He also had been staff vice president of accounting, responsible for financial accounting and reporting functions. Aiken joined General Dynamics in June 2002 as director of consolidation accounting.
CIRCOR International, Inc. (NYSE: CIR) announced that Rajeev Bhalla will join the Company as Executive Vice President and Chief Financial Officer on December 2, 2013. He replaces Fred Burditt, who announced his planned retirement in August 2013. Mr. Bhalla currently is the Vice President and Chief Financial Officer for Sikorsky Aircraft Corporation, a subsidiary of United Technologies Corporation, and has been since May 2012. He joined Sikorsky from United Technologies’ Pratt & Whitney division where he had served as Vice President and Chief Financial Officer since 2005 and was responsible for all financial operations worldwide. Prior to that, Mr. Bhalla served as Vice President and Corporate Controller for Lockheed Martin Corporation and as a partner with Price Waterhouse.
Reply! Inc. announced that it has appointed Tim Morse to the Board of Directors. Tim Morse is the former CFO and interim CEO of Yahoo! Inc. Tim spent the first 15 years of his career with General Electric Company in a variety of finance roles in the US, Europe and Asia. In January 2007 Tim became Chief Financial Officer of Altera Corporation and two and a half years later, he accepted the role of Chief Financial Officer for Yahoo! Inc. During his 3+ year tenure at Yahoo! Tim also led the Corporate Development function, and served from September 2011 to January 2012 as Interim Chief Executive Officer. Departing Yahoo! in the fall of 2012, he joined the fast-growing online advertising technology start-up Adap.tv in January 2013, which was acquired by AOL Inc.
Harris Broadcast appointed Skip Sorenson as Chief Financial Officer. Prior to Harris Broadcast, he was Executive Vice President and Chief Financial Officer for CompuCom. Before CompuCom, Mr. Sorenson was the CFO of Lineage Power, which was acquired by General Electric; and prior to Lineage, he served as the Senior Vice President and Chief Accounting Officer at AECOM Technology. He joined AECOM after serving as Executive Vice President and CFO at Vought Aircraft. Mr. Sorenson also worked for Dell Inc., holding several leadership positions in finance and internal audit, and spent 15 years in the aerospace and defense industry with AlliedSignal, McDonnell Douglas and Newport News Shipbuilding.
Active Power (NASDAQ: ACPW) announced it has named Jay Powers as CFO and vice president of Finance effective Dec. 4, 2013. Steve Fife, current CFO and vice president of Finance, will remain with the company through the end of the year. Powers most recently served as senior vice president of Finance of the U.S. Windows and Doors division of PlyGem Industries. From 2006-2013, Powers was at Xerium Technologies as vice president and global controller. Prior to Xerium, Powers held a number of executive finance roles including vice president of Internal Audit at Invensys PLC.
ArcSoft, Inc. appointed Ralph Harms as Chief Financial Officer. Harms’ background includes senior management roles leading, managing and directing finance and administration for U.S., European and Asian technology companies. He has demonstrated strong ability in startup and high-growth operations and has taken four companies public and completed several acquisitions.
Arctic Cat Inc. (NASDAQ: ACAT) announced that Chief Financial Officer Tim Delmore has announced his intention to retire from Arctic Cat effective May 31, 2014. Delmore will continue to oversee his current responsibilities until his retirement.
Berry Plastics Group, Inc. (NYSE: BERY), announced that Jim Kratochvil, Chief Financial Officer, has decided to retire effective January 2, 2014. The Company has elected Mark Miles, who currently serves as Executive Vice President, Controller and Treasurer, to replace Kratochvil as Chief Financial Officer. Miles joined Berry Plastics more than 15 years ago as Corporate Controller. Prior to joining the Company, Miles was an Audit Manager for Ernst & Young and a Controller at USA Group.
TapInfluence announced it has hired Pat Benner as CFO. Benner began his career as a CPA with Ernst & Young. During his tenure at NexGen Storage, Benner managed its sale to Fusion-io. He has spent over 10 years as CFO in venture-backed and mid-market private companies, as well as division CFO at a Fortune 50 company.
Cannabis Science, Inc. (OTC: CBIS) announced the appointment of Robert Kane as its new Chief Financial Officer, also joining the Company’s Board of Directors. Cannabis Science President, Dr. Robert Melamede, previously held the role of interim CFO.
Link Solutions, Inc. announced that it has appointed David Thornton as Chief Financial Officer. Dave is the former EVP/CFO of Catapult Technologies. Prior to joining Catapult, he held senior and executive level positions in companies’ as diverse in size as CACI, Alpha Insight, and IMC.
Innovolt Inc. announced Jun Ho Son has been appointed the company’s Chief Financial Officer. Son joins Innovolt after eight years at IBM Corporation where he led strategic planning and business development for IBM Global Technology Services. Son’s career has also included director positions with LTX Corporation, where he held corporate development, finance and treasury responsibilities, as well as an investment banker at Morgan Stanley.
MVB Financial Corp. (OTC: MVBF) announced that banking executive Bret S. Price has joined the financial holding company as Senior Vice President and Chief Financial Officer (CFO). Price succeeds long-time CFO Eric Tichenor who will remain at MVB Bank as Senior Vice President of Bank Internal Operations, Chief Financial Officer and Treasurer to oversee the bank’s growing internal operations. Most recently, Price was vice president for Founders Investment Banking in Birmingham, Alabama. Previously, he held leadership positions with financial institutions throughout the country including BBVA Compass Bank, Associated Banc-Corp and Regions Financial Corporation (formerly AmSouth Bancorporation).
Veran Medical Technologies announced that Curt Hartman, former Chief Financial Officer at Stryker Corporation, was appointed to the company’s Board of Directors. Mr. Hartman is currently a member of the Board of Directors of Devicor Medical Products. Previously, Mr. Hartman held a number of positions of increasing responsibility during a 22-year career with Stryker Corporation. During his tenure he spent four years as the chief financial officer at Stryker Corporation, preceded by nine years as President of the Stryker Instruments Division.
XO Group Inc. (NYSE: XOXO) announced that Gillian Munson will join the Company as its Chief Financial Officer. Ms. Munson will replace John Mueller. Ms. Munson will join XO Group from Allen & Company LLC, where she is a Managing Director. Prior to Allen & Company LLC, Gillian was Vice President of Corporate Business Development for Symbol Technologies. Before Symbol, Ms. Munson was an Executive Director and Senior Equity Analyst at Morgan Stanley. Ms. Munson started her career at Hambrecht & Quist as a Research Associate.
Alliance One International, Inc. (NYSE: AOI) announced that Robert A. Sheets, Executive Vice President – Chief Financial Officer and Chief Administrative Officer, will be retiring from the Company after more than 15 years of service. Mr. Sheets is relinquishing his role as Chief Financial Officer effective December 31, 2013, but will remain as Executive Vice President – Chief Administrative Officer for a transition period. Joel L. Thomas, currently Vice President – Treasurer, is being promoted to the role of Executive Vice President – Chief Financial Officer, effective January 1, 2014. Mr. Thomas joined Alliance One in December 2005 as Vice President – Treasurer. Prior to joining the Company, Mr. Thomas worked for Wachovia Securities for 10 years in their investment banking group.
Iveda Solutions (OTC: IVDA) announced that Bob Brilon will join the Company’s management team as chief financial officer (CFO) and executive vice president (EVP) of business development. Brilon will also serve as the Company’s treasurer. From December 2008 until August 2010, he served as the Company’s part-time CFO. Due to other commitments, Brilon left when the Company needed to hire a full time CFO. In May 2011, the Company was again in need of a CFO, and Brilon came back as a consultant until the Company hired a replacement. Brilon currently serves as CFO and EVP of business development for Brain State Technologies. Brilon also served as the CEO and CFO for InPlay Technologies, from 1998 to 2007. Other positions held include CFO at Gietz Master Builders, corporate controller at Rental Service Corp. and CFO and vice president of operations at DataHand Systems, Inc. Brilon was also CFO at Go-Video.
Brown-Forman Corporation (NYSE: BFB) announced that Chief Financial Officer Don Berg is retiring from the company at the end of the current fiscal year, April 30, 2014. He will hand off his duties as CFO to his successor on January 31, 2014 and will assist in the orderly transition of the CFO responsibilities through his retirement date. As part of this transition, Brown-Forman also announced that Jane Morreau has been named to succeed Berg as executive vice president and chief financial officer, effective February 1, 2014. Morreau has been with Brown-Forman for over 22 years, most recently in a leadership developmental assignment as senior vice president and chief production officer. Prior to becoming chief production officer early this year, she was SVP, chief accounting officer and director of finance, accounting and technology. Before joining Brown-Forman, Morreau spent over 11 years at Kentucky Fried Chicken Corporation (now known as YUM! Brands).
CALIENT Technologies, Inc. announced that in addition to his current role as CFO, Jag Setlur will assume the title of Chief Operating Officer (COO), which is a new position for the company. Setlur was named CFO of CALIENT earlier this year. Setlur is accustomed to serving as both CFO and COO. Prior to joining CALIENT, he served as COO and CFO at July Systems.
Liberty Energy Corp. (OTC: LBYE) announced the appointment of Armando Buchanan as CFO of Liberty. Mr. Buchanan is currently the Chief Financial Officer for Eagle Ford Oil Co., Inc. Mr. Buchanan has served in the office of Vice President of Investments with JP Morgan Chase and as a Wealth Manager at UBS. Mr. Buchanan held several consulting executive positions as a project manager for Buchanan Ventures, Inc. He also served as VP of Fortune Exploration.
Marathon Patent Group, Inc. (OTC: MARA) announced the addition of Richard Raisig as the Company’s Chief Financial Officer. Most recently, Mr. Raisig was the CFO of Petrosonic Energy, Inc. Previously, Mr. Raisig was CFO with Connexed Technologies, Inc. and Aurora Systems, Inc. Mr. Raisig was also the first CFO at Microvision, Inc. Mr. Raisig’s career also includes work as an investment banker with Dean Witter Reynolds and in public accounting with Price Waterhouse. John Stetson, the Company’s current Chief Financial Officer, will take the position of Executive Vice President at Marathon.
MapR Technologies, Inc. announced the appointment of Dan Atler as Chief Financial Officer. Atler most recently served as CFO for Meraki, acquired by Cisco. Previously he was CFO at Ikanos and Silicon Image. Additionally, he served as CFO to LitePoint, acquired by Teradyne, and Wireless Access, acquired by Glenayre, and as Controller for Global Village Communication.
Fidus Investment Corporation (NASDAQ: FDUS) announced that Cary L. Schaefer, the Company’s chief financial officer and chief compliance officer, will transition from chief financial officer to a full-time senior investment professional role for the Company’s investment adviser, Fidus Investment Advisors, LLC. Until the Company names a replacement, Ms. Schaefer will continue to perform the duties of the CFO. Ms. Schaefer will remain the Company’s chief compliance officer.
Jasper Wireless announced that it has appointed Rajat Bahri as its Chief Financial Officer. Rajat was CFO of Trimble Navigation from 2005 to 2013, and 15 years in a number of roles within the financial organization at Kraft Foods, Inc.
Simulations Plus, Inc. (NASDAQ: SLP) announced that Momoko Beran has notified the board of directors of her plan to retire effective as of January 15, 2014. The board of directors has appointed John R. Kneisel as new Chief Financial Officer.
ARI Network Services, Inc. (OTC: ARIS) announced that it has appointed William A. Nurthen as the Company’s Chief Financial Officer. Mr. Nurthen has served as Chief Financial Officer of Cabrera Capital Markets, LLC since January 2011. From July 2008 to January 2011, Mr. Nurthen was Chief Financial Officer of BioLytical Laboratories Inc. From 1999 to December 2007, he served in positions of increasing responsibility, including Chief Financial Officer, of Inforte Corp. Mr. Nurthen currently serves as an advisory board member of Sakonent Partners LLC. Nurthen replaces Darin R. Janecek.
Mistras Group, Inc. (NYSE: MG) announced that Jonathan H. Wolk became the Executive Vice President, Chief Financial Officer and Treasurer of the Company. Mr. Wolk was the senior vice president, chief financial officer and secretary of American Woodmark Corporation from 2004 until August 2013. Prior to American Woodmark, Mr. Wolk served as chief financial officer and treasurer of TradeCard, Inc. from 2000 to 2004, and was the global controller of GE Capital Real Estate from 1998 to 2000. Mr. Wolk started his career in public accounting at KPMG.
Atlanticus Holdings Corporation (NASDAQ: ATLC) reported that J. Paul Whitehead, III announced his resignation as Chief Financial Officer of the Company, effective December 31, 2013. Mr. Whitehead has served as the Company’s Chief Financial Officer since 2002. The Company also announced the appointment of William R. McCamey as Chief Financial Officer. These appointments will become effective on January 1, 2014. Mr. McCamey, age 44, has served as the Company’s Treasurer since 2004.
Bitzio, Inc. (OTC: BTZO) announced that Hubert Blanchette resigned from his position as Chief Executive Officer and Chief Financial Officer. Mr. Blanchette will remain a member of the Board of Directors. The board of directors appointed Marilu Brassington to serve as its Chief Financial Officer. Ms. Brassington was also appointed to the board of directors. Since 2010 Ms. Brassington has been employed as co-chief executive and financial officer of E-motion Apparel, Inc. From 2005 to 2007 Ms. Brassington was employed as chief financial officer of Givefun.com, then from 2007 to 2008 was engaged by Gifts.com/IAC as a consultant. From 2002 to 2005 Ms. Brassington was employed as a Controller by Societe Generale, Investment banking Division. From 1998 to 2001 Ms. Brassington was employed as an auditor by Deloitte & Touche.
IDACORP, Inc. (NYSE: IDA) announced the appointment of Darrel Anderson, IDACORP Executive Vice President – Administrative Services and Chief Financial Officer and Idaho Power President and Chief Financial Officer, to succeed J. LaMont Keen as President and CEO of IDACORP effective May 1, 2014, and as President and CEO of Idaho Power effective Jan. 1, 2014. Additionally on Nov. 21 the boards of directors promoted Steven R. Keen to Senior Vice President, Chief Financial Officer, and Treasurer of Idaho Power effective January 1, 2014 and of IDACORP effective May 1, 2014, from his current roles as Vice President – Finance and Treasurer of IDACORP and Senior Vice President – Finance and Treasurer of Idaho Power.
Summit Healthcare REIT, Inc. announced that Timothy Collins, the Interim Chief Financial Officer since August 1, 2012, resigned from that position. Dominic J. Petrucci will serve as the Company’s Interim Chief Financial Officer. In 2013, Mr. Petrucci founded Kairos Partners as an investment and advisory firm. From 2008 through 2012, Mr. Petrucci served as chief financial officer and chief operating officer for real estate investment management firm Buchanan Street Partners. Prior to his tenure at Buchanan Street Mr. Petrucci spent six years at Cornerstone Real Estate Funds, an affiliate of the Company, initially serving as senior vice president for real estate investments and later as chief operating officer. In addition Mr. Petrucci previously held executive positions with The Koll Companies and Kitchell Corporation, including a position as President of Koll’s Intermountain Region. He has served as chief financial officer of Koll Construction and Kitchell Corporation, and held accounting and finance positions earlier in his career.
The ServiceMaster Company (NYSE: SVM) announced that it has appointed David W. Martin as Senior Vice President and Chief Financial Officer of its TruGreen business.
AvalonBay Communities, Inc. (NYSE: AVB) reported that Thomas J. Sargeant, the Company’s Chief Financial Officer, announced his plans to retire from the Company effective May 31, 2014. Mr. Sargeant has been with the Company, including its predecessors, for 28 years and has served as Chief Financial Officer for the past 19 years. The Company also announced today that its Board has appointed Kevin P. O’Shea, the Company’s Executive Vice President of Capital Markets, to succeed Mr. Sargeant as Chief Financial Officer, effective upon Mr. Sargeant’s retirement. Mr. O’Shea joined AvalonBay in 2003.
Capital Southwest Corporation (NASDAQ: CSWC) announced the appointment of Kelly Tacke as Senior Vice President, Chief Financial Officer, and Treasurer. Ms. Tacke is replacing Tracy Morris, who is leaving the company to pursue other opportunities. Ms. Tacke has previously served as Executive Vice President and Chief Financial Officer of Palm Harbor Homes, Inc., and as Chief Financial Officer of AMC REIT, Inc. Ms. Tacke began her career with PricewaterhouseCoopers where she was a senior audit manager.
Rockville Financial, Inc. (NASDAQ:RCKB) appointed Eric R. Newell as Executive Vice President, Chief Financial Officer of the Registrant and Rockville Bank. Mr. Newell replaces former Chief Financial Officer, John T. Lund. Mr. Newell was formerly Executive Vice President, Head of Treasury and Corporate Strategy with the company since May 6, 2013. He came to the company in May 2011 as Vice President, Treasury Officer. He previously served as Assistant Vice President and Special Situations Research Analyst for Alliance Bernstein, L.P. from May 2010 to May, 2011. Prior to that he worked for Fitch Ratings from October 2006 to May 2010. Mr. Newell’s position at Fitch Ratings was Financial Institutions Analyst. Prior to working for Fitch Ratings, he worked for the Federal Deposit Insurance Corporation.
Texas Pacific Land Trust (NYSE: TPL) announced that Roy Thomas, General Agent and Chief Executive Officer of the Trust, informed the Trust that he intends to retire from those positions effective December 31, 2013. David M. Peterson, was appointed General Agent and Chief Executive Officer of the Trust, effective January 1, 2014. Mr. Peterson will continue to serve as Chief Financial Officer of the Trust until a successor is appointed to that position.
Global Power Equipment Group Inc. (NASDAQ: GLPW) announced that it has named Raymond (“Randy”) K. Guba as Senior Vice President and Chief Financial Officer. He will be replacing David L. Willis, who will remain with the Company for a period of time to ensure a smooth transition. Most recently, Mr. Guba was Executive Vice President, Chief Financial Officer of FTS International. Previously, he was Executive Vice President and Chief Financial and Administrative Officer with Integrated Electrical Services. Mr. Guba began his career as a public accountant, and then joined General Electric Company in 1986. He spent 19 years at GE in progressively advancing roles to include CFO of Auto Financials Services in Tokyo and Manager of Finance (CFO) for GE Energy’s Installations and Field Services.