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Last Call: Sprint CFO to Retire

Thirty-one years later: Sprint veteran leaving in June, GE exec to take over. Also: IndyMac Bancorp hires finance chief from its auditing firm, and...
Craig SchneiderMarch 26, 2002

>> Sprint announced that Arthur Krause will retire in June… Krause served 14 years as telco’s CFO, and 31 years in all at the company… General Electric finance veteran Robert Dellinger was named to post of executive vice president of finance at Sprint, and is expected to take over finance chief role after Krause calls it quits… Dellinger most recently served as CEO of GE Frankona Re and CEO at GE’s property-and-casualty reinsurance business in Europe and Asia… Previously, Dellinger held CFO title at various GE companies, including GE’s Employers Reinsurance Corp., GE Motors and Industrial Systems, GE Plastics Pacific, and GE Superabrasives…

“The leadership qualities that Bob has developed through CFO and CEO roles in a demanding, high-performance company like GE will suit Sprint well as it looks to the future,” says William Esrey, Sprint CEO… “Sprint achieved a leadership position in the industry by balancing risk with reward and investing judiciously. Art’s counsel and influence during this period in Sprint’s history will be remembered for its professionalism, reliability, honesty, and vision.”

Krause, 60, is ready for the next stage… “This is a good time for me to retire, knowing that the company’s financials are sound and the company is strong,” he explains… Krause’s financials aren’t so bad, either… He leaves Sprint with an estimated $4.68 million in proceeds from the sale of exercised stock options in 2001, according to Yahoo! Finance…

>> IndyMac Bancorp named Scott Keys to the CFO post… Former CFO Carmella Grahn will remain at bank holding company, assuming management of key projects… One such project: an information technology rollout designed to streamline financial accounting and reporting functions of IndyMac… Grahn’s stepping down as CFO “in order to spend more time with her young children,” according to CEO Michael Perry… That sure beats pursuing other opportunities…

Keys most recently served as partner with Ernst & Young in firm’s Columbus, Ohio, office, serving a number of regional banking companies and large mortgage companies… Prior to 1999, Keys held various professional staff positions at E&Y in Ohio and Los Angeles… E&Y has served as Pasadena, Calif.-based IndyMac’s independent auditor since 2001… Keys specialized in the financial-services industry, but IndyMac says that he was not part of company’s year-end audit team… Keys now responsible for company’s accounting, tax, financial planning and analysis, and financial reporting functions…

>> Investment Technology appointed Donald Kampmann to CFO, a role that reportedly was vacant… Kampmann most recently served as president of Freeland Financial Services, where he “utilized his fiscal astuteness to oversee lending operations for commercial clients” in Minnesota, according to the holding company… Investment Technology, whose stock last traded at 2 cents a share, is looking to acquire companies in the online gaming/entertainment space… At 2 cents a share, don’t know if we’d be doing a pooling transaction, however… CEO Thomas Vidmar says Kampmann’s expertise will be a big asset in finalizing acquisition of golf club and acreage in Minnesota… Company plans to use land for gaming operation… Investment Technology also discussed the option of spinning off entertainment interests to existing shareholders via stock dividend from separately traded entity.