BREAKING NEWS: McDonald’s Names New CFO (Updated)

Plus 12 other CFO updates from throughout the country.
Jennifer Caplan and Ed ZwirnJuly 10, 2001

McDonald’s Corp. today named Matthew H. Paull as executive vice president and CFO, effective immediately, succeeding Michael Conley who announced his retirement in March.

“We have conducted an extensive search for the Chief Financial Officer position, looking at numerous external and internal candidates. In Matt Paull, we have the best qualified and most complete person for the job,” said Jack M. Greenberg, the firm’s chairman and CEO. Paull has been a senior vice president – finance at the company since 1999.

  • Struggling Internet firm CMGI has named as its new CFO George McMillan, who most recently served as president and chief executive of BMG Direct, a unit of Bertelsmann AG. The firm, which has been incurring deep losses in its Internet-advertising- related divisions and a sharp drop in the value of its Internet investments, also announced the promotion of David Andonian, formerly president, corporate development, to the newly created post of president and COO.
  • Grant Prideco, a Woodlands, Tex.-based drill pipe maker, named Louis Raspino as vice president and CFO, replacing Frances Powell, who recently said she was retiring from the company. Raspino last served as vice president of finance for Halliburton Co., a Dallas provider of equipment and services to energy companies.
  • Valley Media, a Woodland, Calif.-based distributor of music and video products, named Jerrold Benjamin its new CFO. Benjamin was most recently CFO at Sun Garden-Gangi Canning Co. LLC, according to the company announcement, which also named John Gennari as executive vice president of sales.
  • Irvine, Calif.-based Endocare, which makes cancer treatments, named John Cracchiolo to the CFO and COO posts. He replaces William Hughes as CFO, effective immediately. Hughes will stay on as a consultant during a transitional period, but the company did not say who Cracchiolo is replacing as COO. Cracchiolo joins Endocare from QuadraMed Corp. a San Rafael, Calif.-based healthcare information technology company, where he served as president.
  • Neon Systems, a Sugar Land, Tex.-based developer of e- business integration software, announced the appointment of Brad Poynter to the CFO post, after estimated financial results fell short of analyst expectations. The company said it expects to report a net loss in a range of approximately $2.3 to $2.5 million, or $0.24 to $0.27 per share, for the quarter ending June 30. Prior to joining Neon, Poynter served as CFO for Scalable Software , a Houston-based company.
  • Novera Optics, a San Jose, Calif.-based developer and manufacturer of photonic subsystems for communications equipment, announced that Thomas Carlson has been appointed CFO, and will have overall financial management and general administrative responsibility for the company. Carlson was previously CFO and VP of Finance and Administration at Silicon Gaming, a Palo Alto, Calif. producer of slot machines and software-based games.
  • Syntel, a Troy, Mich.-based information technology outsourcing firm, announced that CFO John Andary is stepping down to pursue other interests. The Monday announcement came along with word of the firm’s decision to appoint Atul Kunwar as COO. The firm also said that Sanjay Chheda, currently director of Syntel/India, will act as interim CFO until a successor is appointed.
  • Mercator Software, a Connecticut-based firm, has named Kenneth Hall to replace the departing Richard Applegate as CFO. Hall was most recently CFO of OnSite Access, a New York- based communications firm.
  • Silicon Perspective, a Santa Clara, Calif.-based supplier of integrated circuit design tools for silicon virtual prototypes, as named its first CFO: Jim Lindstrom, the former CFO and COO of Lexra, a supplier of network processor and intellectual property for chip designs. The firm also named Eric Filseth as vice president of business and marketing and Christophe Bianchi as director of European business development.
  • Lexar Media, a Fremont, Calif.-based producer of digital film and connectivity products, has hired Michael Perez as its new vice president and CFO. Perez, who has worked for a host of tech firms, including Intel and SyQuest Technology, was most recently vice president of finance at the Monterey Bay Aquarium.
  • Austin, Tex.-based Lane15 Software, a developer of fabric management software, has named Mike Fitzpartick its new CFO. The company said that Fitzpatrick will be responsible for all finance and administrative functions, including budgeting, accounting, auditing, and purchasing.
  • And One More From Texas: Computer Products and Services, a privately held firm based in Dallas, has hired Douglas Marcille as CFO, replacing Jorge Rodriguez, whom it said is staying on “during the transition and then moving on to pursue other opportunities.”
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