CFO Moves this week include:
|J. C. Penney Company, Inc.||Harris Corporation||Capitol Music Group|
|Principia Biopharma Inc.||Triumph Group, Inc.||Journal Communications|
|Demandware, Inc.||Redfin||Independent Living Systems|
|Arsenal Capital Partners||BlueSnap||National Advisors Trust|
|Lehigh Technologies Inc.||Tria Beauty, Inc.||Perceptron, Inc.|
|Miller Energy Resources||Tealium||Reed’s, Inc.|
|Calix, Inc.||The Timken Company||American Woodmark Corporation|
|DSW Inc.||Ligand Pharmaceuticals Incorporated||Pacific Financial Corporation|
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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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J. C. Penney Company, Inc. (NYSE: JCP) announced that Ed Record has been named executive vice president and chief financial officer, effective March 24, 2014. He will succeed Ken Hannah, who will remain chief financial officer through that date to ensure a smooth transition. Record spent over six years at Stage Stores, most recently serving as chief operating officer and, prior to that, chief financial officer. Before Stage, Record served as senior vice president of finance at Kohl’s and as controller and senior vice president of finance at Belk. Earlier in his career, he held a variety of finance positions of increasing responsibility at Federated stores, leading to his eventual appointment as controller and vice president of finance.
Harris Corporation (NYSE:HRS) named Miguel “Mick” Lopez senior vice president and chief financial officer. He succeeds Gary L. McArthur, who is leaving Harris to pursue other opportunities. Lopez brings more than 30 years of diverse global financial leadership experience to Harris, the majority of which was spent with IBM, including as CFO for IBM Brazil and Latin America Personal Computers. In 2003, Lopez joined Tyco International as CFO for ADT Security Systems North America and was subsequently named vice president of business development for Tyco’s Fire and Security division. He joined Cisco Systems in 2007. Lopez most recently was with Aricent Group, where he served as CFO since 2011 for this global services company owned by investors including affiliates of Kohlberg Kravis Roberts & Co. L.P.
Capitol Music Group (CMG) announced the appointment of Geoff Harris as Chief Financial Officer. Prior to this appointment, Mr. Harris served for the past three years as Chief Financial Officer, UK Labels, for Universal Music in London. Previously, he served for 12 years as Senior Vice President, Financial & Commercial Affairs for Polydor Records.
Principia Biopharma Inc. announced that Christopher Y. Chai has joined the company as Chief Financial Officer. Most recently he served as Senior Vice President and Chief Financial Officer at MAP Pharmaceuticals, Inc. From 1998 to 2006, Mr. Chai was employed by CV Therapeutics, Inc., a biopharmaceutical company, where he held various management positions, including Vice President, Treasury and Investor Relations. Mr. Chai also worked at J.P. Morgan & Co. Incorporated, in various capacities, including as a healthcare investment banker.
Triumph Group, Inc. (NYSE:TGI) announced that Jeffrey L. McRae had been elected Senior Vice President and Chief Financial Officer. He succeeds M. David Kornblatt, who has assumed new duties with the company as Director of Corporate Development. Most recently, Mr. McRae was named President of Triumph Aerostructures – Vought Aircraft Division in October, 2013, having previously served as President of Triumph Aerostructures – Vought Integrated Programs Division and Chief Financial Officer for Triumph Aerostructures – Vought Aircraft Division, a position he had assumed upon the completion of Triumph’s acquisition of Vought Aircraft Industries, Inc. in June 2010. Prior to the acquisition, Mr. McRae had served as Vought’s Vice President of Business Operations. Prior to joining Vought, Mr. McRae spent 20 years with BAE Systems (formerly United Defense) and its legacy companies, most recently as interim President and General Manager for the Armament Systems Division (ASD). During his career, he held a series of financial management positions, including Director of Finance for ASD, Chief Financial Officer for joint ventures in Turkey and Saudi Arabia, Director of a payroll and benefits shared services center, and Plant Controller for a production facility.
Journal Communications (NYSE: JRN) announced that Jason Graham has been named Senior Vice President of Finance and Controller, and Chief Financial Officer, effective upon the filing of Journal’s 2013 Form 10-K. Graham has served as Journal Communications’ Vice President/Controller since June 2012. He was formerly Vice President and Corporate Controller at Brookdale Senior Living, Inc. Prior to that role, Graham held roles as senior manager at KPMG LLP, Assistant Controller with GE Healthcare, and Corporate Accounting Manager at APW, Ltd.
Demandware, Inc. (NYSE: DWRE) announced that Scott Dussault, Executive Vice President, Chief Financial Officer of Demandware, plans to transition from the company to pursue other career opportunities. To help ensure a smooth transition, Mr. Dussault plans to continue to serve as Chief Financial Officer of Demandware through June 6, 2014. Mr. Dussault will also be available to serve as an advisor to the company through early June 2015.
Redfin announced that its board of directors has appointed Robert J. (Bob) Mylod, Jr. to the board. Mylod will serve as chair of the board’s audit committee. Mylod is the founder and managing partner of Annox Capital. Previously, he held executive roles at Priceline.com including vice chairman and chief financial officer. Earlier in his career, he was a principal at Stonington Partners, a private equity investment firm, and an associate with Merrill Lynch Capital Partners. Mylod is a member of the board of directors of Everbank Financial Corp.
Independent Living Systems appointed Evan Willette as their new CFO. Prior to joining ILS, Mr. Willette spent 14 years with Health Net as CFO of their Medi-Cal program, and VP of Finance for their Government Business Division.
Arsenal Capital Partners announced the appointment of Frank Scrudato as Chief Financial Officer and Chief Compliance Officer. Mr. Scrudato was formerly Chief Financial Officer and Principal of Bruckmann, Rosser, Sherrill & Co. (“BRS”). Prior to BRS, he was a Director in the Transaction Services practices of KPMG and Arthur Andersen. Mr. Scrudato also worked as the Director of Corporate Development for Asbury Automotive Group. Pilar Lorente, Arsenal’s Chief Financial Officer since 2006, will continue to assist the firm on an ongoing basis with finance and compliance projects.
BlueSnap announced the appointment of Bill Sobo as Chief Financial Officer. Sobo began his executive career at Parexel, a clinical research organization where he served as CFO from 1987 and 2000. He next served as COO/CFO of P&H Solutions Inc. He returned to Parexel as VP Operations Finance in 2007 and left the company last month to join BlueSnap.
National Advisors Trust announced that John Sullivan has been appointed Chief Financial Officer. Prior to joining National Advisors Trust, he served as Chief Financial Officer for a number of business units within JPMorgan Chase.
Lehigh Technologies Inc. announced that Lamar Chambers, former senior vice president and chief financial officer at Ashland Inc. has been elected to Lehigh’s board of directors. He joined Ashland in 1976, rising through multiple finance and business roles before becoming CFO in 2008.
Tria Beauty, Inc. announced two key additions to its leadership team. Derek Yung has been hired as Chief Financial Officer and Charles Bracher joins the Board of Directors as Independent Director and Audit Committee Chair. Mr. Yung joins Tria Beauty from Wize Commerce/Nextag, where he was recently CFO. Previously, he held financial and strategy positions at LeapFrog, and began his business career in management consulting. Mr. Bracher is currently the CFO at Grocery Outlet in Berkeley, CA and prior to that, he held various financial executive roles including CFO at Bare Escentuals.
Perceptron, Inc. (NASDAQ: PRCP) announced that company has appointed Keith R. Marchiando to serve as Vice President and Chief Financial Officer of the Company. Mr. Marchiando will succeed Sylvia M. Smith, the Company’s acting Chief Financial Officer, who will return to her duties as Vice President, Controller and Chief Accounting Officer. Mr. Marchiando served as Executive Vice President and Chief Financial Officer of Carbon Motors Corporation from January 2008 to February 2013. From April 2007 to December 2007, he served as an independent strategy and financial consultant to multiple manufacturing clients. From March 2005 to December 2006, he was the Senior Vice President and Chief Financial Officer of Dura Automotive Systems, Inc. From February 2003 to February 2005, he served as Vice President and Corporate Controller at Dura. Prior to joining Dura, Mr. Marchiando served in various financial management roles of increasing responsibility at Dow Chemical Company from 1997 to 2003 and Ford Motor Company from 1990 to 1997.
Miller Energy Resources announced that its Board of Directors has appointed John M. Brawley as the company’s Chief Financial Officer. John M. Brawley has served as a senior advisor to Miller since November of 2013. From 2010 to 2013 Mr. Brawley was with Guggenheim Partners. Prior to Guggenheim Partners, Mr. Brawley worked directly for the CFO of a public E&P Company, and was at Lehman Brothers in their energy investment banking practice.
Tealium announced it has appointed Doug Lindroth, formerly of Limelight Networks and Memec, was appointed as CFO. Lindroth served on the board of directors of WebSideStory and as CFO of Limelight Networks. From 2003 to 2006, Lindroth was CFO and a board member of Memec Group. Lindroth started his career at KPMG.
Reed’s, Inc. (NYSE MKT: REED) announced that David Williams has been engaged to assume the role of interim CFO for Reed’s, Inc. Mr. Williams has extensive public accounting experience including acquisitions and SEC reporting. His prior work included being CFO and In-House Counsel for Fluid Media/Mood Media.
Calix, Inc. (NYSE: CALX) announced that the company has appointed William Atkins as executive vice president and chief financial officer. Atkins succeeds Michael Ashby, who has agreed to serve in an advisory capacity for six months and has stepped down from the company’s board of directors. Atkins joins Calix from Fairfax Media Partners, LLC where he was a senior partner. Prior to Fairfax, William was CFO of Rivada Networks International, LLC. He also served as EVP and CFO of Intelsat, Ltd. Before joining Intelsat, Atkins held various positions at Morgan Stanley, including head of European telecommunications corporate finance. Prior to Morgan Stanley, he co-founded the telecommunications investment banking practice at S.G. Warburg.
The Timken Company (NYSE: TKR) announced the appointment of Philip D. Fracassa as chief financial officer. Fracassa replaces Glenn A. Eisenberg, executive vice president, finance and administration, who will leave the company at the end of the first quarter after 12 years of service. Fracassa most recently served as senior vice president of planning and development. He joined Timken in 2005 and has since held a variety of senior financial leadership positions including vice president of tax, senior vice president of tax and treasury, and senior vice president and group controller of the bearings and power transmission business.
American Woodmark Corporation (NASDAQ: AMWD) announced that M. Scott Culbreth will assume the role of Chief Financial Officer. Prior to joining American Woodmark, Culbreth was Chief Financial Officer of Piedmont Hardware Brands. Prior to assuming his role with Piedmont, Culbreth held a variety of financial roles with increasing responsibility with Newell Rubbermaid, Robert Bosch Corporation, and Shell Oil Company.
Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announced it has named Nishan de Silva, M.D. Chief Financial Officer, Vice President of Finance and Strategy, to succeed John Sharp, who is leaving at the end of this month for a position with a private company. Dr. de Silva has served as Ligand’s Vice President of Corporate Development since February 2012. Prior to joining Ligand, Dr. de Silva served as Principal at the private equity firm Warburg Pincus, and previously worked at Sprout Group, a venture capital firm, and was a healthcare consultant at McKinsey & Company. He has also served on the Boards of Directors of several public life science companies.
Pacific Financial Corporation (OTC: PFLC), the holding company for Bank of the Pacific, announced that Douglas N. Biddle was named Executive Vice President and Chief Financial Officer of Bank of the Pacific. Biddle will also serve as Treasurer of the holding company succeeding Denise Portmann, who was recently promoted to President and CEO of the Bank. Formerly with PremierWest Bancorp as their Executive Vice President and CFO, Biddle also served as President and CEO of Plumas Bancorp, a California community Bank from 2005 through 2010. During his twenty year career at Plumas Bancorp, Biddle has served in various executive positions including Chief Administrative Officer, Chief Financial Officer and Chief Operating Officer.
Apache Corporation (NYSE: APA) announced that Alfonso Leon, senior vice president and chief of staff, has been appointed executive vice president and chief financial officer. Leon joined Apache in 2009 and has led the evolution of the company’s planning, strategy and investor relations functions. Prior to joining Apache, he was a director and head of energy investment banking at Perella Weinberg Partners in London. He also served in various corporate strategy, planning and business development roles at Royal Dutch Shell in London and The Hague. Leon started his career in investment banking with Salomon Smith Barney in New York and Merrill Lynch in London.