CFOs on the Move: Week Ending Nov. 15

IBM, Amtrak, Motorola Solutions, Humana, Western Union, Wynn Resorts, Magellan Midstream Parters, Core Molding Technologies, Approach Resources, Bemis
Joan UrdangNovember 15, 2013

IBM’s CFO, Mark Loughridge, will retire at the end of the year. Loughridge, who has headed finance for Big Blue since 2004, will be replaced on Jan. 1 by Martin Schroeter, now general manager, IBM global financing.

Amtrak has appointed Gerald Sokol Jr. to lead the finance function. He comes to the railroad from Vertis, where he was president and CEO.

Gino Bonanotte has been promoted to the top finance spot at Motorola Solutions. Bonanotte, who has been at the company since 1988, has been acting CFO since August.

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The board of directors at Humana has elected Steven McCulley interim CFO, effective Jan. 1. McCulley, principal accounting officer and controller, will take over from James Bloem, who is retiring as CFO and treasurer at year-end.

Western Union announced that finance chief Scott Scheirman will step down from his post at the end of the year and become a senior adviser before he leaves the company in February. Raj Agrawal, president of Western Union Business Solutions, will become interim CFO in January until a permanent replacement for Scheirman is found.

Matt Maddox, CFO and treasurer of Wynn Resorts, will add to his responsibilities by becoming president. Maddox, who has been at the company since 2002, formerly headed finance at Wynn Resorts, Macau.

Michael Osborne will join Magellan Midstream Partners later this month and will become finance chief in March. He will succeed CFO John Chandler, who had said he would be leaving the company, which stores, transports and distributes crude oil and refined petroleum products. Osborne has spent his career at Ernst & Young and has been an audit partner there for the past 11 years.

Core Molding Technologies has named John Zimmer CFO, secretary and treasurer. Previously, he led the finance function at Parex Group USA.

Sergei Krylov has been appointed to the top finance spot at independent oil and gas company Approach Resources. He takes over from Steven Smart, who had announced he would retire on Dec. 31. Krylov is currently a managing director at J.P. Morgan Securities.

Packaging supplier Bemis has announced that finance chief Scott Ullem has resigned. A search is under way for his successor; in the meantime, controller Jerry Krempa will become principal financial officer.