Today’s CFOs on the Move

Robert Cavanaugh gets a Penney for his thoughts; iVillage's Levine goes temp-to-perm.
Lisa YoonJanuary 4, 2001
  • Penney Pincher: Plano, Tex.-based retailer J.C. Penney Inc. named Robert Cavanaugh as its new CFO. Cavanaugh, who was CFO of the company’s Eckerd drugstore chain, succeeds Donald McKay, who retired.
  • iVillage People: Online women’s network iVillage Inc. named Scott Levine to the CFO post on a permament basis. Levine had been serving as interim CFO since Craig Monaghan left last year. Before that, he was the New York-based firm’s SVP of finance and chief accounting officer.
  • Globe Trotter: New York-based online community Inc. named Stephanie Hauge as its new CFO. Hauge joins from AT&T Corp., where she was financial VP of the company’s corporate and shared services functions. She replaces Frank Joyce, who resigned. Joyce made $250,000 in salary and bonus in FY99.
  • David Moffatt picked up Telstra Corp.‘s call. He’s the Australian telecommunications giant’s new CFO, replacing Paul Rizzo, who left in November. Moffatt was the head of General Electric Australia & New Zealand.
  • Lee Steele has engineered a career move for himself. The CFO of Billerica, Mass.- based American Science and Engineering Inc. will leave the developer of X-ray inspection products at the end of January to become CFO, treasurer, and SVP of Ariad Pharmaceuticals Inc. in Cambridge, Mass. At Ariad, Steele succeeds Jay LaMarche, one of the company’s founders, who retired for health reasons but will remain on the board.
  • The former CFO of Alexandria, Va.-based Digitalnation Inc. settled an insider trading charge. Colleen Millsap did not admit or deny the charges filed by the Securities and Exchange Commission but agreed to pay about $54,000 in a settlement over charges that she bought shares of Verio Inc. based on confidential information that Web site operator Verio was in talks to buy Digitalnation, a dedicated server hosting company. Millsap’s parents and sister also bought the Verio shares based on that information, and the family allegedly made about $25,000 in profits. The settlement amount of $54,000 include the profits, penalties, and interest.