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Running Up the Numbers: Two from the Books

Executives at Schlumberger, Allianz use accounting posts as launching pads into CFO roles. Also: Internet company taps finance Pac-Man.
Jennifer CaplanMarch 4, 2002

>>Former controller and chief accounting officer Jean-Marc Perraud is new head of finance at Schlumberger Ltd.… Perraud replaces Jack Liu, who becomes senior adviser in charge of energy services company’s divestiture program… Liu got $245,000 bonus in 2001, better than $180,000 in previous year, according to Dow Jones Newswires… Liu’s salary rose to $450,000 in 2001 from $400,000 in 2000…

Perraud has job cut out for him… Schlumberger reported net income of $185 million, or 32 cents a share, in the fourth quarter—a penny short of analysts’ expectations… Income for year-ago period was $238 million, or 42 cents a share… Sales, though, jumped by 33 percent, reaching $3.6 billion in Q4… For year, company earned $522 million (91 cents a share), down a fair piece from the $735 million ($1.29 a share) earned in 2000… Revenue up 43 percent in the year, reaching $13.7 billion… Company managers cautious about future… “We are still expecting the recovery to happen midyear, but the current world political situation is sufficiently unstable to make any predictions risky,” says company chairman Euan Baird…

>>Also rising through the accounting ranks, Gabrielle Matzdorff ascends to CFO at Allianz Life Insurance Company of North America, part of insurance giant Allianz Group… She succeeds recently named CEO Mark Zesbaugh, who, in turn, replaces Robert MacDonald, who retains chairman post… Matzdorff reports to Zesbaugh…

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New CFO joined Allianz Life’s internal audit department in 1990, later becoming corporate accounting manager… In 1999 Matzdorff named corporate controller… Launched career at KPMG Peat Marwick, where she worked with insurance-industry clients… A CPA, she’s president of the Insurance Accounting and Systems Association…

>>Managers at Pac-West Telecomm Inc. tap Ravi Brar as CFO… Brar joined Pac-West in 1999 as vice president of business development… Appointed vice president of finance, treasurer in August 2001… Prior to joining Pac-West, Brar had held senior business-development and finance posts at Xerox Corp. for eight years…

Stockton, California-based Internet infrastructure company might have needed some help… Pac-West reported fourth-quarter loss of $3.9 million, or 11 cents per share, compared with a profit of $562,000, or 2 cents per share, a year earlier… Fourth-quarter revenues down 8 percent to $36.2 million from $39.2 million a year earlier…

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