Corporate Finance

CFOs on the Move: Week Ending July 1

SunEdison, McCormick, Apttus, Louis Dreyfus, TMX, Alion Science and Technology, Imaging Sensing Systems
David McCannJune 30, 2016
CFOs on the Move: Week Ending July 1

Things aren’t getting any easier for SunEdison, a bankrupt solar energy company. On Tuesday, a week after CEO Ahmad Chatila resigned, Ilan Daskal, who had been designated in March as the company’s next CFO, resigned before assuming the post. He was to have replaced Brian Wuebbels, who was slated to become chief executive of two of SunEdison’s yieldcos. However, on March 30 Wuebbels too resigned from those jobs before starting them. At the time the company said Wuebbels would temporarily remain in the CFO slot until Daskal, previously finance chief at Ariecent, was to have been deemed ready to take over. Still, on May 12, with Daskal still waiting in the wings, the company announced Wuebbels’ termination.

SunEdison logoThis week SunEdison appointed yet another new leader of finance: Philip Gund, a senior managing director of Ankura Consulting Group and a former chief restructuring officer for prepaid phone-card company Vivaro Corp.

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Toronto-based financial conglomerate TMX Group has appointed John McKenzie to replace CFO Michael Ptasznik, who resigned earlier this month. McKenzie has been with TMX for 16 years and most recently was president of subsidiary Canadian Depository for Securities Limited.

Michael Smith, currently senior vice president of corporate finance at spice maker McCormick & Co., will ascend to the CFO chair on Sept. 1. He will replace Gordon Stetz, who will retire.

Louis Dreyfus Co., a Netherlands-based agricultural commodities trader, announced that its longtime finance chief, Sandrine Teran, has resigned. She will remain as an adviser to the company for the next several months as it conducts a search for her successor.

Sales management software vendor Apttus, which is planning an initial public offering, hired Sydney Carey to head finance. Before joining Apptus, which has a valuation of more than $1.5 billion, Carey was CFO at Zscaler and three other technology firms.

At Alion Science and Technology,as of July 5 the new finance chief will be Kevin Cook. The 30-year finance veteran arrives from consulting firm Booz Allen Hamilton, where he’s been CFO and treasurer since 2014.

Dale Parker, CFO and interim CEO at Image Sensing Systems, has resigned. His interim replacement in the top finance spot is Richard Ehrich, the company’s controller. Chad Stelzig, vice president of engineering, was tapped as interim chief executive.

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