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Transported: Enterprise CFO Moves to Centric

Company's long-time CFO eager to get into operations; switches to sister company. Plus: It's a wrap for AET finance chief, and M&A specialist signs...
Lisa YoonApril 22, 2002

>> Enterprise Rent-A-Car announced company EVP and CFO John T. O’Connell is to become EVP of sister company Centric Group effective August 1… Both Enterprise and Centric majority owned by the Jack Taylor family of St. Louis… O’Connell graduated from University of Virginia’s McIntire School of Commerce in 1979 with BS in commerce… O’Connell familiar with Centric: joined Enterprise in 1980 as financial analyst after one-year stint with subsidiaries… Those subs eventually became Centric Group… Series of subsequent promotions led him to CFO post in 1992… Elected to the company’s board of directors in October 2000…

Enterprise and Centric executives said O’Connell requested the move to explore interest in operations… “For many years John has wanted to be active in the operations of a business, which led to his request to rejoin the Centric businesses,…” says Enterprise CEO Andrew Taylor… Adds Centric CEO Douglas Albrecht: “[O’Connell] is a charter member of Centric’s board of directors, and he has had an equity interest in the business since it was formed as a freestanding company on August 1, 2000. His equity stake in the company will also increase with this move.” Before the change, businesses in Centric Group were operated as wholly owned subsidiaries of Enterprise…

Rental-car company Enterprise generated $6.3 billion in revenues in FY 2001… Centric Group, a collection of six distinct businesses, including Riddell Footwear and mylar balloon—maker Betallic, reported sales of more than $350 million in fiscal 2001…

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O’Connell will remain as member of Enterprise’s board of directors—and will continue to manage variety of financial matters for Taylor family… Enterprise will likely hire O’Connell’s replacement from within, says Taylor … In case you were wondering, company founder Taylor served on U.S.S. Enterprise during World War II—hence, company name…

>> Applied Extrusion Technologies Inc. announced CFO Anthony Allott is resigning to join Silgan Holdings Inc. as EVP and CFO… Management at maker of plastic films and packing material says Allott leaving company in solid financial shape… “AET has more than doubled in size, is now the leader of the OPP films industry in North America, and currently has a strong liquidity position and minimal debt maturities over the next nine years,” says CEO Thomas Williams… “The company and its board of directors express their appreciation to Mr. Allott and wish him the best.” In FY 2001, Allott, 37, earned $673,000…

Before AET, Allott worked at Ground Round Restaurants, where he was corporate controller and director of financial reporting… Prior to that, he spent six years as CPA with Deloitte & Touche…

At Stamford, Conn.-based Silgan, Allott succeeds Harley Rankin Jr., who plans to retire… Rankin credited with helping consumer-goods packaging manufacturer grow from private company with $400 million in sales in 1988 to public company with almost $2 billion in sales… As CFO, helped arrange more than $4 billion in financings and engineered company’s 1997 IPO… According to Silgan’s last proxy, Rankin earned $494,000 for FY 2000…

>> Langer Inc. appointed Anthony Puglisi to posts of VP and CFO… Puglisi most recently was SVP and CFO of Netrex Corp., Melville, N.Y.-based venture-capital company with operations in insurance and automotive industries… Before that, Puglisi was EVP and CFO of Olsten Corp., which provides temporary help and home-care services…

Langer CEO Andrew Meyers keen on Puglisi’s M&A experience… At Olsten, Puglisi worked on more than 30 acquisitions, with company growing from $1 billion in domestic revenue to more than $5 billion in international revenue… “[Puglisi] brings substantial experience in accounting and finance and in mergers and acquisitions, which is a significant component of Langer’s growth strategy,” says Meyers…

At Langer, Puglisi replaces Thomas Archbold… In FY 2001, Archbold earned $145,500 at Deer Park, N.Y.-based maker of orthotics and gait-related products for treatment of musculoskeletal disorders…

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Petco Animal Supplies Inc. said former Jack-in-the-Box Inc. finance chief Charles Duddles has been appointed to Petco’s board… Duddles started at Jack-in-the-Box. in 1979 as controller, and eventually became EVP and CFO… Also served on fast-food company’s board of directors from 1988 until his retirement in August 2001… Before fast food, Duddles spent 11 years at Price Waterhouse and held several financial positions at Ralston Purina in St. Louis…