CFOs On the Move: Week Ending July 24

Tapestry, Wells Fargo, BNY Mellon, Plastiq, Biogen, Virgin Hyperloop, Memorial Hermann Health System, Xylem

Joanne Crevoiserat

Tapestry, the parent company of Coach, Kate Spade, and Stuart Weitzman, named CFO Joanne Crevoiserat as interim chief executive officer. Crevoiserat takes over for chairman and CEO Jide Zeitlin, who resigned from the company and its board of directors for personal reasons. Crevoiserat has been the chief financial officer at Tapestry since August 2019. She joined the company from Abercrombie & Fitch, where she was hired as chief financial officer. She held various leadership positions during her tenure at the retailer, including executive vice president, chief operating officer, and interim principal executive officer. Before that, she served in several senior management roles at Kohl’s. She previously held senior finance positions with Walmart Stores and May Department Stores, including chief financial officer at the Filene’s, Foley’s, and Famous-Barr brands. Andrea Shaw Resnick, global head of investor relations and corporate communications, will step in as interim CFO.

Mike Santomassimo

Mike Santomassimo will become CFO at Wells Fargo in the fall. Santomassimo joins the company from BNY Mellon, where he was CFO since 2018. Previously, he served as CFO for the company’s investment services businesses. Before joining BNY Mellon, he spent 11 years at JPMorgan Chase in several key finance leadership roles, including CFO for banking, which included investment banking and treasury services. He also served as CFO of JPMorgan’s Securities Services and U.S. Private Banking businesses. He began his career at Smith Barney. Santomassimo succeeds John Shrewsberry, who has is retiring after 22-years at the company, including the last six years as CFO. Shrewsberry will continue in his role as CFO until Santomassimo joins the company and will assist with the transition.

BNY Mellon named Emily Portney as chief financial officer to replace Mike Santomassimo. Portney most recently led the client management, sales, and service teams for BNY Mellon’s asset servicing business globally. She also oversaw the Americas region of the asset servicing business. Before joining BNY Mellon, she was chief financial officer at Barclays International. She spent 22 years at JPMorgan, where she was the global head of clearing and collateral management, among other roles. She started with JPMorgan in 1993 and performed various roles throughout her career, including the CFO of equities and prime services.

How Startup CFO Grew Food Company 50% YoY

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This case study of JonnyPops’ success highlights the unusual financial and operational strategies that enabled rapid expansion into a crowded and highly competitive frozen treat market. 

Wailun Chan

Wailun Chan is the new finance chief at payment processing company Plastiq. Chan joins the company from LinkedIn, where he was vice president of finance. While at LinkedIn, he helped lead the company through its IPO and built, scaled, and managed multiple finance teams. Before that, Chan was studio finance controller at Electronic Arts, sales finance leader at Nestle, director of sales and marketing finance at General Electric Capital, and FP&A manager at Kraft Specialty Cheese.

Drugmaker Biogen appointed Michael McDonnell as chief financial officer. McDonnell was most recently CFO at life-sciences company IQVIA. McDonnell was previously finance chief at satellite company Intelsat, commercial finance company MCG Capital, and satellite television operator EchoStar Communications. Earlier in his career, he spent 14 years at PricewaterhouseCoopers, including 4 years as a partner. McDonnell succeeds Jeffrey Capello, who has been CFO at the company since 2017. Capello will step down from his current role when McDonnell is appointed on August 15. Capello will remain with the company until September 15 to help with the transition.

Virgin Hyperloop appointed Raja Narayanan as chief financial officer. Raja was most recently senior vice president at Hyundai-Aptiv Autonomous Driving Joint Venture, which was focused on commercializing L4 autonomous driving technology. He was part of a broader executive team at Aptiv that led to the creation of the joint venture valued at $4 billion. Before that, Raja worked on a special assignment at OneWeb to help launch a commercial aviation initiative. He was the vice president of conceptualization and launch of strategic initiative at Panasonic before that.

Alec King

Alec King will become CFO at Memorial Hermann Health System in October. King will oversee financial operations for its 17 hospitals and more than 300 care delivery sites. King joins the company from Children’s National Health System, where he was CFO. Before that, King held multiple financial leadership roles within Texas Children’s Hospital in Houston for over nine years. King is board director of Safe Kids Worldwide and Brainy Camps Medical Education Youth Camps. King succeeds Brian Dean, who has served as CFO since 2018 and recently relocated to California. Cindy DeMoya, senior vice president and chief accounting officer, will serve as interim CFO until King assumes his new role.

Water technology company Xylem named Sandra Rowland as CFO. Since 2015, Rowland has served as chief financial officer at consumer electronics company Harman International Industries, a subsidiary of Samsung. Before Harman, Rowland held several positions at Eastman Kodak Company, including chief financial officer of the commercial segment. She is also a member of the board of directors and audit and human resources committees of industrial manufacturer Oshkosh Corporation. Rowland succeeds Mark Rajkowski, who is retiring at the end of the year.