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Ph.D Hired as CFO at Gilead Sciences

Plus, Scripps finance veteran retires after 31 years. Also: AHL gets new CFO.
Craig SchneiderApril 2, 2002

>> Daniel Castellini, CFO at E. W. Scripps, retired after 31 years at diversified media company. Successor “will be named shortly,” according to Scripps… Castellini successfully guided Scripps through initial stock offering in 1988. Since 1993, he helped create and financially manage the company’s portfolio of cable television networks… Castellini began at Scripps way back in 1971 as assistant treasurer — was promoted to CFO post in 1986. Castellini started his career at Deloitte & Touche….

Scripps, which owns 21 newspapers, 10 broadcast television stations and three national TV networks, raised expectations for its first-quarter earnings on firming ad sales for its television network operations… Company management now sees earnings in a range of 50 cents to 56 cents a share, compared with previously expected 40-cent to 50-cent range.

>> Gilead Sciences, Inc. promoted John Milligan, Ph.D to the post of CFO. Milligan replaces Sharon Surey-Barbari — she’s resigning after two years as finance chief. Biopharmaceutical company did not specify a reason for her departure… What company did say: as part of Gilead’s restructuring in its organizational structure and senior management team, company has combined responsibility for corporate development, finance, corporate communications and information technology into one broadened CFO role…

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Milligan, who joined Gilead in 1990, served most recently as vice president of corporate development at company. Milligan already has been leading company’s annual portfolio review and strategic planning, as well as supervising IR function… Surey-Barbari sold shares of exercised options on February 28 for approximately $695,000 in profit, according to Yahoo! Finance. She took home an additional $300,000 in a planned sale last May.

>> AHL Services, Inc. named Heinz Stubblefield as CFO. Stubblefield most recently served as finance chief at XM Satellite Radio… He succeeds Ron Domanico, who resigned as CFO in November… Stubblefield isn’t wasting any time: “My primary focus over the coming months will be to complete the divestiture of the company’s German staffing business, improve its cash flow management functions and raise growth capital.” In two years at XM, Stubblefield raised over $1.6 billion through ten offerings.

Prior to XM, Stubblefield spent couple of years as CFO of WorldSpace International, where he worked to close more than $1 billion in private funding. That funding including an investment in XM Radio… AHL, provider of marketing services in U.S. and staffing services in Europe, announced last week the sale of its UK staffing business. The sale will result in loss from discontinued operations. That, coupled with charges relating to sale of company’s German unit, means AHL will revise its Q4 net loss to $2.76 per share. Company previously announced net loss of 77 cents per share.