People

Gadzoox and Zambeel

Finance chiefs join two weirdly named California companies. Also, Online Resources picks M&A whiz as CFO.
David KatzMarch 20, 2002

>>San Jose, Calif.-based Gadzoox Networks Inc., supplier of high-speed storage area network products, named Barbara Velline as CFO and vice president of finance… Velline said to be expert in helping emerging companies achieve profitability… Egad, Gadzoox could use it… Stock has been falling since high last May of $3.74, now at 44 cents… For nine months ended December 31, 2001, net revenues fell 38 percent to $16.7 million…

Fairly quick exit for former CFO David Eichler, who joined company in June 2001 after serving as CFO at Alliance Semiconductor… No word from Gadzoox on reason for Eichler’s departure… Velline most recently was senior finance consultant for David Powell Inc., Silicon Valley—based financial services company… Earlier in year, she aided Gadzoox in fund-raising and restructuring efforts… Velline has also held senior posts with Creditland Inc., Syncronys SoftCorp., and Pioneer Electronics…

>>In another CFO move at an exotically named California company, Fremont-based Zambeel Inc., a network storage vendor, picked R. Douglas Norby… Previously served as CFO at Novalux and LSI Logic… Also orchestrated financing, distribution of Indiana Jones and the Last Crusade as president, COO of Lucasfilm Ltd… . Darren Thomas, president and CEO of Zambeel, says company sought “seasoned executive”… Norby has more than 30 years of experience as finance chief… Zambeel has raised more than $65 million in venture financing…

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>>McLean, Va.-based Online Resources Corp., outsourcer of E-financial services, tapped Catherine Graham as executive vice president and CFO… She replaces Carl Blandino, who left earlier this year to work for a private firm, Dow Jones reported… Graham to pay close attention to broadening the investor base and exploring strategic business opportunities, company said…

Graham was previously CFO of Via Net.Works Inc., where she managed company’s IPO… While there, she negotiated acquisition of 26 companies in 14 countries in a 24-month period… Whew!… Previously, was vice president of finance and investor relations officer for Yurie Systems, heading company’s transition team after it was sold to Lucent Technologies… Also held finance executive positions with Smith Barney, First National Bank of Maryland, and Maryland National Bank…