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Shop Till You Drop

Grocery-store chain Albertson's loses CFO Olson after 29 years.
Michelle GabrielleMay 23, 2001
  • Heading for the Checkout: Supermarket chain Albertsons Inc. announced that its EVP and CFO A. Craig Olson resigned to pursue opportunities after 29 years with the company. SVP and controller Richard J. Navarro was named acting CFO. Olson is the second corporate executive to resign since the company’s $12 billion acquisition of American Stores two years ago. Former Albertson’s president Dick King resigned the day the merger was announced. In 2000, Olson received $364,943 in salary, $98,112 in bonus, and $85,574 in other compensation. He was also awarded $1,095,219 in restricted stock.
  • All Aboard: ABC-NACO Inc., a Lombard, Ill.-based supplier of railroad industry equipment, named Wayne Rockenbach VP and CFO, succeeding James Singsank, who held the position since the merger of ABC Rail Products and NACO Inc. in 1999. Rockenbach previously served as VP, CFO and director of NACO Inc. for 10 years. In 2000, Singsank received $188,855 in salary and $6,917 in other compensation.
  • Renovating the Finance Department: Ronan, Mont.-based tool maker, Jore Corp., announced that it consolidated the CFO and controller functions as part of a management restructuring. Former controller Mick Quinlivan will assume the CFO responsibilities and former CFO Monte Giese will help transition the company through funding, reorganization, and strategic options process, as the company has recently filed for bankruptcy. In 2000, Giese received $98,462 in salary and $5,474 in other compensation.
  • The Appro-priate Decision: Appro Systems Inc., a Baton Rouge, La.-based provider of automated credit risk management and financial technologies, appointed Paul McCown CFO. McCown was previously CFO at Vention, an E-business consulting and development firm.
  • On The High Beam: Sunnyvale, Calif.-based BeamReach Networks Inc., a developer of broadband wireless access systems, named Kari J. Minton senior director of finance. Minton most recently served as corporate controller at Terayon Communication Systems Inc., a Santa Clara, Calif.-based supplier of carrier-class voice, data and video broadband networking products.
  • A Healthy Atmosphere: Harvest Technologies, a Plymouth, Mass., biotech firm, announced the appointment of Andrew McGillicuddy to the position of CFO. McGillicuddy was formerly CFO of the Yankee Group, a telecommunications market research firm.
  • Feeling Even Better: Digital Insight Corp., a maker of online finance products for financial services firms, announced the appointment of Michael Dunn as VP of finance. Dunn began with the Calabras, Calif.-based company in a consulting role earlier this year. Previously, Dunn was COO and CFO at Feeling Fine Co. LLC, an equity venture company founded to develop and distribute nutritional supplements.