Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, Fintech, DeFi, Blockchain, Web 3 News

USA | CFO Moves – week ending February 24, 2017

Tracking CFO Movement Across Canada.

Tesla [Palo Alto, California] announced that CFO Jason Wheeler has decided to leave the company in April to pursue opportunities in public policy. Jason will be replaced by Deepak Ahuja, who was Tesla’s first CFO and worked for the company for more than seven years before stepping away in 2015. Deepak will formally take over as CFO in early March, with Jason remaining at Tesla through early April to ensure a smooth transition.

JetBlue [NEW YORK] (NASDAQ: JBLU) announced that it has promoted Steve Priest to executive vice president and chief financial officer. Priest joined JetBlue in 2015 and in his most recent role was responsible for JetBlue’s strategic sourcing efforts and for fleet and engine strategy. Prior to JetBlue, Priest held positions of increasing responsibility at British Airways from 1996 to 2015. Most recently, he served as senior vice president, North Atlantic joint business. He served as regional vice president, controller for Western Europe, Latin America, and Caribbean and as chief financial officer for BA Ground Handling Services. Priest will succeed Jim Leddy, who served as interim chief financial officer since November.

Marathon Oil Corporation [HOUSTON] (NYSE: MRO) announced that Dane Whitehead has been appointed executive vice president and chief financial officer, with an anticipated effective date of March 6. Whitehead most recently served as executive vice president and CFO of both EP Energy Corp. and EP Energy LLC since May 2012. He was senior vice president of Strategy and Enterprise Business Development and a member of El Paso Corporation’s executive committee from 2009 to 2012. He joined El Paso Exploration & Production Company as senior vice president and CFO in 2006. Prior to that, Whitehead was vice president, controller and chief accounting officer of Burlington Resources Inc., and formerly senior vice president and CFO of Burlington Resources Canada. On the effective date of Whitehead’s appointment, Patrick J. Wagner, interim chief financial officer, will return to his leadership role as senior vice president – Corporate Development and Strategy.

Wynn Resorts [LAS VEGAS] announced the appointment of Craig S. Billings to the executive team as Chief Financial Officer. He has held leadership positions at Aristocrat Leisure Limited, including Chief Digital Officer and Managing Director of Strategy and Business Development, and at International Game Technology. Mr. Billings was also an executive in the Investment Banking Division of Goldman Sachs and he began his career in the audit practice of Deloitte & Touche. He will replace Stephen Cootey, who will be departing the company to pursue other interests.

Cigna Corporation [BLOOMFIELD, Conn.] (NYSE: CI) announced that Eric Palmer, who becomes Deputy Chief Financial Officer, will join the ELT as Cigna’s CFO this summer upon the retirement of current CFO Tom McCarthy. Eric currently serves as Chief Financial Officer for Cigna’s global health, Cigna-HealthSpring, employer-based health care, group and supplemental insurance businesses. Previously, he was the Business Financial Officer for U.S. health care and U.S. commercial markets. Eric has been with Cigna for 20 years.

Flowserve Corporation [DALLAS] (NYSE: FLS) announced that John E. (Jay) Roueche III, Flowserve’s vice president, investor relations and treasurer, assumes the role of interim chief financial officer. Mr. Roueche’s appointment follows Karyn Ovelmen’s departure from the company as executive vice president and chief financial officer. Jay Roueche has served as vice president, investor relations and treasurer, since October 2012. He previously served as vice president, investor relations and treasurer, of McDermott International, Inc. from August 2010 until October 2012. From April 2006 to August 2012, he served as vice president, investor relations and corporate communications of McDermott International, Inc. In the preceding years, he served in progressive accounting and finance roles, including with Pennzoil-Quaker State Company, Pennzoil Company and Shell Oil Company.

News Corp [NEW YORK] (NASDAQ: NWS) announced that Bedi A. Singh will be departing as Chief Financial Officer effective March 1st. Susan Panuccio, currently Chief Financial Officer of News Corp Australia, will become the new CFO of the company. Following his departure, Mr. Singh intends to pursue new opportunities; however he has agreed to serve as a senior advisor to News Corp on its digital property interests in India, reporting to Mr. Robert Thomson, Chief Executive, and will also join the advisory board of Move, Inc., which operates®. Susan Panuccio has been CFO for News Corp Australia since September, 2013. She previously served at News International in several positions, including CFO. She began her career as a Senior Accountant at KPMG Australia.

Questionmark [TRUMBULL, Conn.] hired Mike Aspinall as Chief Financial Officer (CFO). Mike is a seasoned executive with extensive experience overseeing finance for growth organizations, most recently serving as Group Finance Director at Parity Group PLC. Mike started his career at Arthur Andersen, and most recently served as Group Finance Director at Parity Group. Mike will also take a seat on the board.

Rubicon Project [LOS ANGELES] (NYSE: RUBI) announced the appointment of David Day as Chief Financial Officer of the company. Day previously served as Rubicon Project’s interim CFO since May 2016 and has been the company’s Chief Accounting Officer since joining the Company in March 2013. Before joining Rubicon Project, Day was most recently Chief Accounting Officer at ReachLocal, and was previously Senior Vice President of Finance at Overture and at Yahoo Search Marketing. Day was also co-founder of SignJammar, and was Vice President of Finance for Spot Runner. Prior to that he had approximately 12 years of public accounting experience with PricewaterhouseCoopers and Arthur Andersen, including three years in PwC’s Frankfurt, Germany office.

BorrowersFirst [AUSTIN, Texas] appointed Gavan Goss as Chief Financial Officer. Before joining BorrowersFirst, Gavan spent 13 years at Dell Financial Services (DFS). Gavan has also held senior leadership positions at Associates First Capital, Consero Global, and Articulate Labs.

Massage Envy [SCOTTSDALE, Ariz.] named Paul Malek chief financial officer. Malek comes to Massage Envy after eight years as chief financial officer for Cadence Education. Before that, he was vice president, finance with Troon Golf. Malek spent nine years in public accounting.

Community Health Systems, Inc. [FRANKLIN, Tenn.] (NYSE: CYH) announced that W. Larry Cash, President of Financial Services and Chief Financial Officer, will retire from his executive management position and the Company’s Board of Directors on May 16, 2017. Cash has served as the Company’s Chief Financial Officer since joining the organization in September 1997 and was elected to the Board in 2001. Thomas J. Aaron, who currently serves as Senior Vice President–Finance at Community Health Systems, will be appointed Chief Financial Officer immediately following Cash’s retirement. Aaron joined Community Health Systems in November 2016 after a 32-year career at Deloitte & Touche LLP. Aaron retired from Deloitte in October 2016 after serving as Tennessee Managing Partner and leading teams for many of the firm’s largest national healthcare provider and payer clients, including Community Health Systems, Inc., most recently in 2013.

meQuilibrium [BOSTON] announced the appointment of Tom Brennan as chief financial officer. Brennan held C-level positions at GOSHIDO and OPENAIR. He most recently served as chief financial officer of behavioral health care provider AbleTo.

QTS Realty Trust [OVERLAND PARK, Kan.] (NYSE: QTS) announced that it has named Jeffrey Berson as Chief Financial Officer and Bill Schafer as EVP – Finance and Accounting, effective April 3, 2017. Berson has served as QTS’ Chief Investment Officer since 2013. Berson will succeed Schafer as QTS’ Chief Financial Officer. As part of the succession planning process, Schafer will transition to the new role of Executive Vice President – Finance.

RAIT Financial Trust [PHILADELPHIA] (NYSE: RAS) announced that Paul W. Kopsky, Jr. will become RAIT’s new Chief Financial Officer (“CFO”) and Treasurer, succeeding James J. Sebra. Prior to joining RAIT, Mr. Kopsky was Executive Vice President and Chief Operating Officer for Hunt Companies, Inc. since 2013. He was Managing Director for Jefferies & Company, LLC in the investment banking project finance group from 2011 to 2013. Prior to that, Mr. Kopsky has served in various executive finance/accounting leadership roles for companies including Capmark Financial Group, RGA, Nationwide Insurance Group, Lincoln Financial Group and Conning/Swiss Re. Mr. Kopsky began his career with KPMG where he spent over 10 years.

Genesys [SAN FRANCISCO] appointed Larry Katz as its new chief financial officer. Prior to joining Genesys, Katz held a variety of senior executive leadership positions at JP Morgan Chase, including chief administrative officer for the Chase Merchant Services division and CFO for the JP Morgan Treasury Services division.

Manitowoc Foodservice, Inc. [NEW PORT RICHEY, Fla.] (NYSE: MFS) which is changing its name to Welbilt, Inc. effective March 6th, announced John O. Stewart, Senior Vice President and Chief Financial Officer will retire by the end of April 2017. Stewart joined MFS/Welbilt in 2015 when it was a subsidiary of the Manitowoc Company to oversee the spin-off from the former parent.

PebblePost [NEW YORK] announced the appointment of Marita Scarfi as Chief Financial Officer. Most recently, Scarfi served as CFO at 72andSunny. For 16 years, she also served in a variety of roles at creative digital agency Organic, including CFO, COO to CEO.

Community West Bancshares [GOLETA, Calif.] (NASDAQ: CWBC), parent company of Community West Bank (Bank), announced that Charles (Chick) G. Baltuskonis plans to retire in July 2017. Prior to his retirement, he will step down as Executive Vice President and Chief Financial Officer.

Navient [WILMINGTON, Del.] (NASDAQ: NAVI) announced that Christian Lown will join the company as executive vice president and chief financial officer, effective March 27, 2017. Somsak Chivavibul, current CFO, will spearhead the launch of a new enterprise-wide decision management center. Most recently, Lown was an investment banker at Morgan Stanley for over 10 years, where he was a managing director in the financial institutions group, serving as co-head of the banks, diversified finance and financial technology practices in North America. Before moving to Morgan Stanley, Lown was an investment banker at UBS and Credit Suisse, and was an equity analyst in Asia for Credit Lyonnais Securities Asia.

Global Eagle Entertainment Inc. [LOS ANGELES] (NASDAQ: ENT) announced that Tom Severson, Executive Vice President & Chief Financial Officer, resigned, effective February 20, 2017. The Board has initiated a CFO search to consider candidates for the position. In the interim, Jeff Leddy, CEO, will serve as the Company’s principal financial officer.

Endocyte, Inc. [WEST LAFAYETTE, Ind.] (NASDAQ: ECYT) announced that Michael T. Andriole has been appointed as chief financial officer. Mr. Andriole has more than 20 years of experience in a range of financial, strategic and corporate development roles, including 16 years at Eli Lilly and Company, most recently as Vice President, Corporate Business Development.

LifeVantage Corporation [SALT LAKE CITY] (NASDAQ: LFVN) announced the appointment of Gary Koos as Interim Chief Financial Officer, replacing Mark Jaggi. Most recently, Mr. Koos served as Head of Finance of the PCT division of Comet Technology Inc. Previously Mr. Koos served as President, CEO and CFO for Worldwide Energy and Manufacturing USA Inc., from 2011 to 2013. Mr. Koos also previously served in several senior financial and operation executive roles including both public and private company experience.

Appirio [Indianapolis, IN], a Wipro company announced that Krishnan Subramanian, Vice President of Finance at Wipro, is now the Chief Financial Officer.

Samuel Dergel - The CFO Expert.
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