Today’s CFOs on the Move:

Duke energizes the executive suite, Movado makes a timely announcement and Seagram exec walks off with millions.
Michelle GabrielleDecember 12, 2000

Energize This: Charlotte, N.C.- based Duke Energy Corp. named Robert P. Brace EVP and CFO. Brace, 50, joins Duke from British Telecommunications Plc (BT) in London, where he served as group finance director. He replaces Richard Osborne, who was named the multinational energy supplier’s chief risk officer. Last year, Osborne earned more than $630,000 in salary, bonus and other compensation.

Time for a Change: Lyndhurst, N.J.- based watch-maker Movado Group, Inc. announced that current CFO Ken Adams would be replaced by Kennith Johnson, as CFO and VP of Finance. Johnson, 47, joins Movado from Precise International, a producer of watches, jewelry and cosmetics, where he served as VP and Chief Financial and Administrative Officer. Movado said that Adams “has made the decision to pursue other opportunities.” In fiscal (January) 2000, Adams earned nearly $248,000, most of it from salary.

Knight in Shining Armor: Hopkins, Minn.- based Alliant Techsystems Inc. named Eric Rangen to succeed Scott Meyers as its CFO, effective Jan. 29. Rangen, 43, will be joining the aerospace and defense company from Deloitte & Touche LLP, where he presently serves as a partner. Alliant promoted Meyers to president. In fiscal (March) 2000, Meyers took home more than $753,000, including $272,504 from salary, a $302,000 bonus and another $149,600 stemming from a 1996 performance bonus program.

How Startup CFO Grew Food Company 50% YoY

How Startup CFO Grew Food Company 50% YoY

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. 

Man Overboard: Brian C. Mulligan has resigned as EVP and CFO of Montreal-based, Seagram Co. Ltd. since the entertainment and spirits and wine company merged with Paris, France- based, Vivendi, a communications and utility company and Canal+, a television company. The companies merged on December 8 to create New York City- based Vivendi Universal, a global media and communications company. Guillaume Hannezo will serve as Vivendi Universal’s CFO, joining the company from Vivendi, where he also served as CFO. In the June 2000 fiscal year, Mulligan took home more than $3.6 million, mostly from salary and bonus.

Fill er’ Up: Radnor, Pa-based, Penn Virginia Corp. said that Steven W. Tholen has resigned as VP and CFO. Tholen will be replaced by James O. Idiaquez, who served as the natural gas producer’s VP of corporate development. Last year, Idiaquez earned $155,000 in salary, a $60,000 bonus and $2,848 in other compensation. Tholen earned more than $243,000.