Still reeling from accusations of bookkeeping irregularities, California Amplifier, a Camarillo, Calif.-based firm, has named Richard Vitelle as CFO, replacing Michael Ferron, who resigned last month, shortly after the firm resumed trading on the Nasdaq Stock Market after a nine-week hold.
On March 30, the firm’s controller resigned after revealing that he had overstated fiscal 2000 earnings by as much as $2.2 million. The disclosure came as the result of an audit finding that expenses had been reduced through improper adjusments and irregularities involving the consolidation of its Hong Kong procurement subsidiary.
Vitelle previously served as vice president, corporate secretary and CFO of Thousand Oaks, Calif.-based SMTEK International
Raney, a tech sector veteran, was CFO at Novell from March 1998 until earlier this month, when he was replaced by Ron Foster. Before that, he spent 24 years at Hewlett Packard. Treinen will continue as managing director of the company, which includes First Data Corp., General Atlantic Partners, and The Goldman Sachs Group among its owners.