Human Capital & Careers

CFOs on the Move: Week Ending Nov. 29

Blackberry, CBS Outdoor, Wal-Mart Stores, Needham, Brown-Forman, Penn National Gaming, Aurora Spine, Simulations Plus, Jasper Wireless
David McCannNovember 27, 2013

Troubled mobile technology company Blackberry has replaced its CFO, along with its chief operating officer and chief marketing officer, under new CEO John Chen. Outgoing finance chief Brian Bidulka will stay on through the end of Blackberry’s current fiscal year an adviser to his replacement, James Yersh, who was promoted from his post as controller.

At CBS Outdoor, a division of the broadcasting company that is preparing for conversion to a real estate investment trust, has brought in Donald Shassian as finance chief. He replaces Ray Nowak, who will stay with CBS as its finance leader for its U.S.-based businesses. Shassian most recently ran finance at Frontier Communications.

Wal-Mart Stores has named Pamela Craig, who retired as CFO of Accenture in July of this year, to its board of directors. She will serve on the audit committee.

A Better Way to Do Ecommerce

A Better Way to Do Ecommerce

Learn how Precision Medical leveraged OneWorld to cut the cost of billing in half and added $2.5M in annual revenue.

Glen Albanese, the former CFO of New York brokerage firm Needham & Co., has pleaded guilty in a federal court to a charge of conspiring to steal $1 million from the company. Prosecutors said he induced vendors to submit fraudulent invoices, the Associated Press reported.

Alcoholic beverage maker Brown-Forman has promoted Jane Morneau from chief production officer to the top finance job, effective Feb. 1. She will replace Don Berg, who will retire on April 30, the end of the company’s fiscal year.

Saul Reibstein will take the finance reins at Penn National Gaming on Dec. 4, subject to regulatory approvals. Reibstein, who has been on the company’s board and headed its audit committee since June 2011, replaces William Clifford. The latter assumed the role of CFO at Gaming and Leisure Properties upon its Nov. 1 spinoff from Penn.

Spinal-surgery center Aurora Spine announced that Eric Fronk is its new CFO, with incumbent Ken Gross becoming chief operating officer. Before joining Aurora Spine, Fronk was finance chief at Digital Interactive Systems and was part of the team that prepared Alphatec Spine for its initial public offering in 2006.

A provider of simulation and modeling software for pharmaceutical development, Simulations Plus, has appointed John Kneisel as finance chief. He replaces Momoko Beren, who plans to retire in January after more than 20 years with the company. Kneisel has held prior posts as CFO and controller for several companies.

Jasper Wireless, a platform that powers the mobile “Internet of Things,” has brought in Rafat Bahri to lead finance. He has more than 20 years of experience in financial leadership with public companies. In addition to accounting and finance, Bahri will head legal operations.