Today’s CFOs on the Move:

GM taps Ford's Devine as CFO.
Michelle GabrielleDecember 13, 2000

A Devine Choice: General Motors Corp. will name former Ford Motor Co. CFO John Devine as its new CFO. Devine, 56, will succeed J. Michael Losh, who retired effective Sept. 1.

Devine left Ford in September 1999 following a management shake-up, saying he wanted “wider responsibilities” elsewhere. Some industry sources said Devine, a 31-year Ford veteran who is a favorite of Wall Street analysts, clashed with Ford Chief Executive Jacques Nasser, including over the automaker’s losses in Brazil.

Last year, Devine earned more than $3 million in salary, bonus and other compensation.

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. 

In 1999, Losh took home more than $6.2 million, including $835,000 from salary, a $1.6 million bonus, over $40,000 in other compensation and approximately $3.7 million in exercised stock options.

All in the Family: Farmington, Conn.- based Familymeds Group, Inc., a provider of healthcare products, named Dale J. Ribaudo as Senior VP and CFO. Ribaudo, 43, joins Familymeds from Windsor Locks, Conn.- based Dextor Corp., where he served as VP and Controller.

Hot Stuff: Dallas- based Radiologix, Inc. named Sami S. Abbasi as its CFO and EVP. Abbasi joins the radiology services company from Adminiquest, Inc. where he served as CFO and COO. Prior to Adminiquest, however, Abassi served as CFO and SVP of Radiologix form August 1996 until his departure in December 1999.

Bright e-deas: Walldorf, Germany- based, SAP AG announced that Werner Brandt will serve as the e-business solutions provider’s CFO, effective Feb. 1. Brandt joins SAP from Bad Homburg, Germany-based Fresenius Medical Care, a healthcare provider, where he served as CFO. Brandt will succeed Dieter Matheis, who is presently CFO and member of the Extended Management Board of SAP AG. Matheis is scheduled to retire at the end of 2001.

Moving On: Jericho, N.Y.- based, Getty Realty Corp. announced that John Fitteron, Senior VP, treasurer and CFO, has decided to leave the company, effective Jan. 31. Fitteron joined the company in 1986. “I have been looking forward to having more time to spend with my family and my other interests,” Fitteron said.