Today’s CFOs on the Move: (Updated)

Hershey ties the knot with a new CFO, Avid's a fan of Milbury; and more.
Michelle GabrielleDecember 14, 2000

A Kiss Is But A Kiss: U.S. chocolate maker, Hershey Foods Corp., named Frank Cerminara as CFO. Cerminara joined the Hershey, Pa.-based company 28 years ago as a budget analyst. He will now assume the role of treasurer and will remain a VP of the company. Hershey said William Christ had taken the post of COO and VP Frank Cerminara had been selected to succeed Christ as CFO. Hershey also announced the resignation of its COO, Michael Pasquale, who had been a leading contender for the post of CEO. In 1999, Christ earned $331,000 in annual salary, $22,864 in bonus, $529,388 in exercised options and $4,000 in other compensation. In 1998, Pasquale earned $400,000 in annual salary, $27,554 in bonus and $4,000 in other compensation.

Under construction: Watertown, Mass.-based Ionics Inc. announced that Daniel Kuzmak will replace Robert Halliday as the equipment maker’s CFO. Halliday left the company in September to join software developer, Unica Corp. In 1998, Halliday earned $186,600 in annual salary, $40,000 in bonus and $3,774 in all other compensation. Kuzmak was previously CFO of ABB Inc. Ionics also named Gary Groom as VP, project finance and treasurer. Groom was most recently a VP at Lexington, Mass.- based Raytheon Co., a provider of electronic products and services.

Technically Speaking: Tewksbury, Mass.-based Avid Technologies, Inc., a provider of digital media and distribution solutions, named Paul Milbury as its CFO. Milbury joins Avid from, Inc. of Waltham, Mass., where he served as CFO. Milbury replaces Ethan Jacks, who served as acting CFO for the last eight months. Jacks will remain with Avid as SVP of business development and chief legal counsel.

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The Scoop: Fremont, Calif.-based Network Peripherals Inc., a data communications company, named James E. Williams to the position of CFO. Williams has been serving as Interim CFO, replacing Wilson Cheung, since October of this year. In addition, he will hold the positions of SVP of finance and administration, treasurer and corporate secretary. Williams recently retired from E*Trade Group, an online investing services company, where he held the position of VP of finance and technology, operations and business integration. In 1999, Cheung earned $131,669 in salary, $13,200 in bonus and $190,927 in exercised options.

A New Hire: Walnut Creek, Calif.- based, Westaff Inc. announced that CFO Paul Norberg would retire at the end of the year. Norberg will be replaced by Dirk Sodestrom, who has served as the employment services company’s controller for the past ten years. In 1999, Norberg earned $215,002 in annual salary and $5,401 in all other compensation. In 1999, as controller, Sodestrom earned over $150,000 in annual salary and all other compensation.

Berrie Good: Oakland, N.J.-based Russ Berrie and Co. announced that its VP and CFO, Nicholas Truyens, has left the Company by mutual agreement. In the interim, Dona Fisher, the gift manufacturer’s VP and COO, will assume the CFO duties until a successor is hired.

And the Consensus Is…: Salt Lake City, Utah.-based Consonus Inc., an infrastructure provider, named Robert Simmons as CFO. Simmons joins the company from his most recent position as EVP and CFO of Salt Lake City, Utah.-based Campus Pipeline, an Internet technology provider.

Valley Talk: Redding, Calif.-based North Valley Bancorp, a multi-bank holding company, announced that Edward J. Czajka will join the Company as CFO, effective Jan. 2. Mr. Czajka joins North Valley from Santa Barbara, Calif.- based Pacific Capital Bancorp, where he served as controller. The company was not immediately available for comment about Czajka’s predecessor. Sharon Benson was listed in prior company statements as SVP and CFO.

Getting Personal: Brisbane, Calif.- based Personic Inc., a global provider of business to business solutions appointed David Curtis to CFO and SVP of finance and administration. Curtis joins Personic from Petaluma, Calif.-based Tegal Corp., a semiconductor equipment maker, where he served as CFO and VP of finance and administration.

Off the Charts: Orem, Utah-based Corda Technologies Inc., a provider of Internet charting and graphing solutions, named Alan Hansen as its CFO. Hansen joins Corda from Caldera Systems, a provider of Linux-based solutions, where he served as CFO.

FYI: Infrastructures for Information Inc., a supplier of XML content software, named Douglas McIntyre as its new CFO. McIntyre joins the company from Xenos Group Inc. where he served as CFO.

Big Softee: Atlanta, Ga.-based Avienda Technologies, a developer of software and network infrastructure named James K. McCormick as CFO. McCormick joins Avienda from Atlanta, Ga.-based Harbinger Corporation, where he served as CFO until June 2000, when it was sold to Peregrine Systems, a San Diego- based software company.

Picture Perfect: Framingham, Mass.- based software provider, TeleKnowledge, named Richard Seaman as CFO. He joins TeleKnowledge from Rockland Trust Company, a commercial bank, where he served as CFO.

On the Run: Boise, Idaho-based RidgeRun, Inc., an Internet solutions provider, named James A. Knight as its CFO Mr. Knight’s background includes three years at Triarc Companies, Inc., where he focused on acquisitions, divestitures, private equity investments and financings.