Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

USA: CFO Moves – week ending November 9, 2012

Tracking CFO movement across the USA. CFO Moves this week include:


Orbitz Worldwide, Inc. (NYSE: OWW) announced the appointment of Mitch Marcus as the company’s chief financial officer (CFO). David Belmont, who has served as interim CFO since June 2012, will return to his position as group vice president, financial planning and analysis. Mitch most recently served as Senior Vice President Treasurer and Senior Vice President Corporate Development at Sara Lee. Prior to Sara Lee, Mitch had a successful investment banking career spending time at Merrill Lynch, Goldman Sachs and William Blair. He started his career as a staff accountant at Arthur Andersen, and after obtaining a law degree, was a corporate attorney at Dewey Ballantine.

Insmed Incorporated (NASDAQ: INSM) announced the appointment of Andrew Drechsler to the position of Chief Financial Officer. He joins Insmed from VaxInnate Corporation, where he was Chief Financial Officer. Previously, Mr. Drechsler was Chief Financial Officer of Valera Pharmaceuticals. Mr. Drechsler’s also served as Controller for a variety of companies, including Abbott Laboratories’ Point of Care Division, and Biomatrix, Inc.

Techne Corporation (NASDAQ: TECH) announced that, effective the close of business on November 30, 2012, Gregory J. Melsen, the Company’s Vice President of Finance and Chief Financial Officer, will also assume the duties of Chief Executive Officer on an interim basis, replacing the current CEO, Thomas E. Oland. Mr. Melsen has held the positions of the Company’s Vice President of Finance and Chief Financial Officer for the last eight years, and prior to that time held various executive management positions at several publicly traded companies and was employed by a public accounting firm for 19 years, including nine years as an audit partner.

Fallbrook Technologies Inc. announced that it appointed John K. Penver as the Company’s Chief Financial Officer. Mr. Penver replaces Nicole T. Nicks, who has served as Fallbrook’s CFO from 2004. Prior to joining Fallbrook, he was the CFO, VP Finance and Secretary for Active Power, Inc. in Austin, TX. Mr. Penver began his career in 1985 with Deloitte & Touche, LLP first in Melbourne, Australia and subsequently in San Jose, CA. He then worked for Silicon Gaming, Inc. in Palo Alto, CA as Vice President, Finance followed by CFO positions at three Austin companies before joining Active Power in 2005.Scott Donovan

HealthMarkets, Inc. announced that R. Scott Donovan has joined the Company and will serve as its Executive Vice President and Chief Financial Officer. Prior to joining HealthMarkets, Donovan served as Executive Vice President of Odyssey Reinsurance Corporation and Executive Vice President and Chief Financial Officer of Odyssey Re Holdings Corp. Earlier in his career, Donovan was President and Chief Operating Officer of TIG Insurance Group after serving as their Chief Financial Officer for three years. Before joining TIG, Donovan served as Senior Vice President and Chief Financial Officer for Coregis Insurance Group, a wholly owned subsidiary of GE Capital. Prior to that, Donovan served in various leadership positions, including Vice President and Treasurer, at Crum & Forster Insurance Company.

Cvent announced the appointment of Pete Childs as Chief Financial Officer. Pete joins Cvent from Towers Watson, an international human capital and financial management consulting firm, where he was most recently Chief Accounting Officer and held the number two financial role in the company. Prior to his career at Towers Watson, Pete served as Vice President of Finance and Treasurer at HCR Manor Care. Before HCR Manor Care, he served as Manager of Treasury Operations for Primark Corporation.

Bulova Technologies Group, Inc. (OTCQB: BLVT) announced the appointment of C.W. (Bill) Colburn as the Company’s new Chief Financial Officer. Since 2002 Mr. Colburn has consulted for several boutique private equity firms providing balance sheet restructuring strategies and executive level management for client companies. In 2009 Mr. Colburn started GovFunding LLC, established to provide structured finance products in support of federal government contracts.

Asure Software, Inc. (NASDAQM: ASUR) announced that Jennifer Crow has been named Chief Financial Officer. Crow most recently was director of finance at Active Power, Inc. Prior to Active Power, Crow spent three years as an independent finance and accounting consultant providing litigation support and financial consulting services to a diverse client base. Crow also spent five years as director of financial analysis at telecommunications company Broadwing Communications. Her background also includes numerous senior finance roles with major regional telecom companies such as BellSouth and Southwestern Bell, and a Big Six public accounting firm.

Schrader announced that Ronald J. Klump will join the company as Chief Financial Officer. Klump. Since 1986, Klump has held increasingly senior level financial roles with companies such as Vermont American, Total Petroleum, Katy Industries, Leprino Foods Company and Impact Confections.

Bari Furniture announced the hiring of Bryan Semmens as CFO. From 2011 to 2012, Mr. Semmens was Chief Financial Officer of Archetype, LLC. The previous 15 years were spent building one of the most successful accounting firms in Southern California.

Apricus Biosciences, Inc. (NASDAQ: APRI) announced that Bassam Damaj, Ph.D., has resigned as a Director, President, and Chief Executive Officer of the Company and that Steve Martin, Senior Vice President and Chief Financial Officer, has been appointed interim Chief Executive Officer. Mr. Martin has served as Senior Vice President and Chief Financial Officer of Apricus Bio since June 2011. Prior to joining Apricus Bio, Mr. Martin was Senior Vice President and Chief Financial Officer of BakBone Software, where he also served as interim CEO for a ten month period. Mr. Martin has also served in senior positions at Stratagene Corporation, Gen-Probe Incorporated and Deloitte & Touche.

First PacTrust Bancorp, Inc. (NASDAQ: BANC), the holding company for Pacific Trust Bank (“PacTrust Bank”) and Beach Business Bank, announced the addition of Ronald J. Nicolas, Jr. as Executive Vice President and Chief Financial Officer of First PacTrust and Lonny D. Robinson, Executive Vice President and Chief Financial Officer of Pacific Trust Bank, following the resignation of Marangal “Marito” Domingo as Executive Vice President and Chief Financial Officer of First PacTrust and PacTrust Bank. Mr. Nicolas served as a consultant to First PacTrust since October 18, 2012, became Executive Vice President of First PacTrust effective as of November 5 and will assume the duties of Chief Financial Officer of First PacTrust upon Mr. Domingo’s resignation. Before joining First PacTrust, Mr. Nicolas served as Executive Vice President and Chief Financial Officer at each of: Carrington Holding Company, LLC (2009-2012); Residential Credit Holdings, LLC (2008-2009); Fremont Investment and Loan, a $14-billion financial institution (2005-2008); and Aames Investment/Financial Corp. (2001-2005). He earlier served in various capacities with KeyCorp, including Executive Vice President Group Finance of KeyCorp (1998-2001), Executive Vice President, Treasurer and Chief Financial Officer of KeyBank USA (1994-1998), and Vice President Corporate Treasury (1993-1994). Mr. Robinson will join PacTrust Bank as Executive Vice President on November 14, 2012 and will assume the duties of Chief Financial Officer following Mr. Domingo’s resignation. Immediately before joining PacTrust Bank, Mr. Robinson was Executive Vice President and Chief Financial Officer of Hamni Financial Corp., and its subsidiary Hamni Bank. Prior to joining Hamni in October 2011, Mr. Robinson served as Executive Vice President and Chief Financial Officer at each of: Opportunity Bancshares and Opportunity Bank (2010-2011); Western Community Bancshares and Frontier Bank (2010); and Center Financial Corp.(2007-2010).

Connex Credit Union announced the appointment of Frank Mancini as the credit union’s new president and chief executive officer, effective immediately. Mancini has been a part of Connex Credit Union’s executive team since 2003, serving as the chief financial officer. Mancini replaces John Edwards, who is retiring after leading Connex for 34 years.

Cornerstone Therapeutics Inc. (NASDAQ: CRTX) announced the appointment of Alastair McEwan as Chief Financial Officer (CFO). He has served in many senior management positions and on executive boards and Boards of Directors including those of Averion International and Inveresk Research. He is a previous chairman of the Cornerstone Board of Directors.

PURE Bioscience, Inc. (NASDAQ: PURE) named Peter C. Wulff as Chief Financial Officer. Most recently Mr. Wulff served as Chief Financial Officer, Vice President, Treasurer and Senior Vice President, Strategic Initiatives for Alphatec Holdings, Inc. (NASDAQ: ATEC) and its subsidiary, Alphatec Spine, Inc. Earlier in his career Mr. Wulff served as Executive Vice President and Chief Financial Officer for Artes Medical, Inc. He also was Chief Financial Officer for CryoCor, Inc. and Chief Financial Officer and Treasurer of Natural Alternatives International, Inc.

Westwood Holdings Group, Inc. (NYSE: WHG) announced the appointment of Mark A. Wallace as Chief Financial Officer. Westwood’s former CFO, Bill Hardcastle, will focus on the growth of Westwood’s domestic and international fund business and will provide leadership in other corporate development and strategic initiatives. Prior to joining Westwood, Mark served as Chief Financial Officer and held other financial leadership positions for an S&P 500 real estate investment trust, NYSE-listed international manufacturing corporations, and diversified industrial holding companies. Mark began his career with eleven years at Arthur Andersen LLP.

Unwired Planet (NASDAQ: UPIP) announced that Eric Vetter has been appointed Chief Financial Officer and Chief Administrative Officer of Unwired Planet. Most recently, Mr. Vetter was a consultant to Aristocrat Technologies. From 2000 to 2011 he was with International Game Technology, serving in a variety of roles including Senior Vice President of Finance and Accounting for the Gaming Group Division. Mr. Vetter replaces Anne Brennan, who resigned.

DG (NASDAQ: DGIT) announced that it has named Craig Holmes as Chief Financial Officer. Omar Choucair, who has served as DG’s CFO for the past 13 years, will remain with the Company as Executive Vice President until the end of 2012 and thereafter as a consultant for an additional 18 months, and will continue to support the strategic alternatives process. Prior to joining DG, Craig Holmes was most recently CFO of privately-held Quickoffice, Inc. which he helped position for a successful sale to Google, Inc. in June 2012. Over his career, Craig provided advisory and consulting services at Enfora Inc.; served as CFO for Intervoice, Inc.; was CFO at EXCEL Communications; and served as CFO at two start-ups in the software development and internet services space, EpicRealm and Masergy Communications. Mr. Holmes began his career at Arthur Andersen, where he rose to Partner.

Sun Bancorp, Inc. (NASDAQ: SNBC) announced that its wholly-owned banking subsidiary, Sun National Bank (the “Bank”), has appointed Thomas R. Brugger as Executive Vice President and Chief Financial Officer of the Bank. Mr. Brugger is expected to be appointed as Executive Vice President and Chief Financial Officer of Sun Bancorp, Inc. following regulatory approval. Before joining Sun, Mr. Brugger was Executive Vice President and Chief Financial Officer of Customers Bancorp, Inc., a bank holding company based in Wyomissing, Pa., and its subsidiary, Customers Bank. Prior to that, Mr. Brugger was Corporate Treasurer, Chief Investment Officer and Portfolio Manager for Sovereign Bank. The Female Health Company

The Female Health Company (NASDAQ: FHCO) announced that Donna Felch will retire from her position as Vice President and Chief Financial Officer effective December 31, 2012. The Company also announced that Ms. Felch was appointed to the Company’s Board of Directors on November 7, 2012. In connection with Ms. Felch’s retirement, the Company announced that Michele Greco will become Vice President and Chief Financial Officer effective January 1, 2013. Ms. Greco has nearly 30 years of experience in public accounting with Ernst & Young LLP, where she was named partner in 1994 — a position she held until March 2009. From January 2011 to February 2012, Ms. Greco provided consulting services to Systems Research Incorporated as a recruiter of finance professionals. From March 2009 to January 2011, she was involved in a series of personal business ventures.

Pegasystems Inc. (NASDAQ: PEGA) announced that Craig Dynes, Pegasystems’ CFO, has decided to leave the Company in 2013 following the filing of the Form 10K.


Lundi 19 Novembre 2012




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