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Heir Apparel: Tarrant Promotes Treasurer to CFO

Also, former Open Market finance chief moves to Netegrity, while PSS World Medical gets new management team.
Jennifer CaplanJanuary 7, 2002
  • Patrick Chow is the new finance chief at casual apparel maker Tarrant Apparel Group. Chow previously served as Tarrant’s treasurer, a position he held since 1998.

    He succeeds Scott Briskie, who is leaving the company to pursue other opportunities, although Briskie will remain with Tarrant on a consulting basis to assist with the transition. Prior to joining Tarrant, Chow served as general manager at Fortune Chart Consultants Ltd. in Hong Kong, where he provided financial consulting services primarily to local clients. Before that, he was executive vice president and general manager of Bonaventure Textiles Group, which has offices and factories in Hong Kong, the United States, China, Sri Lanka, and Ireland.

    Chow will face some stiff challenges in his new position. Tarrant incurred a $4.2 million (27 cents per share) net loss in Q3, compared with a net income of $1.7 million (11 cents per share) in both the second quarter of 2001 and the third quarter of 2000. What’s more, the company’s net sales declined to $78 million in Q3, compared with $96 million in turnover in the second quarter of 2001.

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  • Managers at Jacksonville, Florida-based medical products distributor PSS World Medical Inc. hired David Bronson as chief financial officer. A new CEO, David Smith, was also brought on board at PSS.

    Prior to joining PSS, Bronson was CFO at VWR Scientific Products, which was acquired in 1999 by Merck KgaA. Before that, Bronson served in a variety of senior finance roles at Baxter Healthcare Inc., where he helped strengthen the company’s scientific products distribution business. He holds an M.A. in management from the Kellogg School of Business and a B.S. in accounting from California State University. The share price of PSS World closed at $8.15 on the Nasdaq on Friday.

    Bronson appears to be taking over the finance reins of a solid company. In the second quarter, PSS’s net sales increased slightly to $448 million, up from $446 million for the same period last year. Net income for the quarter increased to $3.4 million (5 cents per share), versus a loss of $1.0 million (1 cent per share) in the prior-year period.

  • Regina Sommer has been named CFO at Netegrity Inc. Netegrity is a Waltham, Massachusetts-based provider of security technology for B2B transactions.

    Sommer brings more than 20 years of technology and professional services experience to her new post. Most recently, she was vice president and CFO for Revenio Inc., a privately held customer relationship management software company. Prior to joining Revenio, Sommer was finance chief at Open Market Inc., a provider of Internet infrastructure software. In that position, she helped negotiate and manage major financial transactions, including the company’s initial public offering and three acquisitions. Sommer also spent nine years with PricewaterhouseCoopers, providing tax and accounting services to multinational clients. She earned a B.A. in economics and accounting from the College of Holy Cross in Worcester, Massachusetts. She is also a licensed C.P.A.

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