Analyze This: Brio CFO Resigns

Announcement made on same day data-analysis software company reports big jump in losses. Also: new finance chiefs at Randstad, Digital Lightwave.
DeAnn ChristinatJanuary 16, 2002

Brio Software Inc. announced that CFO Tamara MacDuff resigned from the company Wednesday.

It’s been tough times of late at the Santa Clara, Calif.-based manufacturer of data-analysis software. Brio posted a third-quarter loss of $968,000, compared to a $260,000 loss reported during the same period the previous year. Revenues also took a severe drop in the third quarter, down to $28 million, compared to nearly $39 million in Q3 2000. Brio, which is looking for additional sources of funding, moved Craig Collins into the CFO spot.

— The former CFO at OneSource, Ben Elliott, was recently appointed managing director and CFO at Randstad NA. The Atlanta-based company is a wholly owned subsidiary of staffing organization Randstad Holding NV. In his new role, Elliott will have responsibility for accounting, financial planning and analysis, and budgeting and treasury functions. He will also oversee the company’s shared service center. Prior to OneSource, Elliott held senior management positions at Allied Automotive Group and DSC Logistics.

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— Management at Vancouver, B.C.-based North Pacific GeoPower Corp. has appointed Paul Mann as head of finance. Mann most recently served as vice president, comptroller, at Crew Development Corp., North Pacific’s majority shareholder. Prior to Crew, Mann worked at Dayton Mining and De Beers Canada. He hails from the University of British Columbia, where he received a B.A. in engineering. Mann is also a chartered accountant.

Peter Minihane is leaving the corporate office at communications products maker Visual Networks Inc. Minihane will stay on as a member of the company’s board of directors, however. John Saunders, the vice president of finance at the Rockville, Md.-based company, will take over as CFO.

— On Wednesday, management at Digital Lightwave Inc., a maker of optical networking products, announced it hired Mark Scott as CFO. Scott, who had been working as CFO at Network Access Solutions Corp., replaces Steve Grant as the finance chief at Digital Lightwave, located in Clearwater, Florida.

IFR Systems has accepted the resignation of CFO Dennis Coley. Coley left IFR to pursue other opportunities.

He will be replaced by Steve Todd, who has been named interim CFO at the Wichita, Kan.-based IFR. Todd holds a law degree from Suffolk Law School and a B.S. in accountancy from Bentley College. He is a certified accountant, and has served as a management consultant for the past six years. Prior to 1996, Todd served as senior financial manager for a life-science equipment company. Before that, he spent five years at Arthur Andersen. Todd is a member of both the Boston Bar Association and the Massachusetts Society of Public Accountants.

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