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Calif. Firm Names New CFO After Bookkeeping Scandal

Also, web firm grabs former Novell CFO, more.
Ed ZwirnJuly 25, 2001

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

  • eOne Global, a Napa, Calif-based payment technology firm, has named Dennis Raney as its new CFO, taking the place of David Treinen, who has held the job on an interim basis since the company’s founding in October.

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.

  • Netopia, a broadband gateway and software provider, announced the appointment of William Baker as senior vice president and CFO. Baker comes to the Alameda, Calif.-based firm after being vice president and CFO of JPM Company, a startup tech manufacturer, from 1996 to 2000.
  • Michael C. Brower had better start learning to Think Outside the box, as they say in tech land. The firm by that name, a Carlsbad, Calif.-based manufacturer of mobile hand-held devices, as named Brower as CFO. Most recently, Brower served as CFO of Keylime Software, a web site traffic analysis concern.