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Permanent Vacation

Finance chief and other execs leave Travelocity. Also, changes at NetByTel, Cardinal Logistics, and Playmates Toys in today's private-company edition.
Lisa YoonMay 9, 2002

>> Fast on heels of Travelocity acquisition by Sabre Holdings, CFO Ramesh Punwani leaving travel Web site, according to CNet News… Departures of Punwani, other top execs announced in staff meeting at Travelocity’s Forth Worth home base less than day after CEO Terry Jones said he would retire… Also joining exodus are general counsel Andy Steinberg, EVP Jim Marsicano, vice chairman Jim Hornthal…

A month ago, Sabre, a Southlake, Tex.-based travel-industry tech provider, and Travelocity ended bitter negotiations… Sabre agreed to take over Travelocity for $28 per outstanding share… Company now owns 96 percent of Travelocity… CNet says no management changes planned at Sabre, but job descriptions changing since Travelocity now a private company…

Punwani, a travel-industry vet, joined Travelocity in February 2000… Served prior stints as VP of business development at American Express’s cruise, tour-relations business… Other CFO gigs at Tower Air, Pan American World Airways… Before that, did tour with TWA…Punwani, other departing execs expected to stay on another three months…

How Startup CFO Grew Food Company 50% YoY

How Startup CFO Grew Food Company 50% YoY

This case study of JonnyPops’ success highlights the unusual financial and operational strategies that enabled rapid expansion into a crowded and highly competitive frozen treat market. 

>> Mark Charles pressed “#” for more options when searching for latest job… Just joined NetByTel, maker of voice-enabled customer-self-service prompts, as CFO, SVP… Before joining Boca Raton, Fla.-based company, Charles held same titles at Telemetry Technologies, specialist in wireless bidirectional remote monitoring… Charles also was Gulf Coast regional president of Verizon Wireless… Held finance roles at predecessor entities Bell Atlantic Mobile and PrimeCo Personal Communications…

Charles probably will have hand in managing company’s fast growth… NetByTel raised more than $21 million from AOL Time Warner, Accenture Technology Ventures, Deutsche Telekom, Lazard, and others in past year alone…

>>Textile-industry vetCarl Texter joins trucker Cardinal Logistics Management as CFO, SVP… Was most recently finance chief of Crown Crafts, where he engineered restructuring… Prior to that, Texter held financial posts with BP Amoco, including CFO of fabrics business…

>>New hero on half shell Don Sutherland joins Playmates Toys as CFO, SVP… Company makes character-based toys like Teenage Mutant Ninja Turtles, The Simpsons… Sutherland arrives after CFO, general manager sojourn at bed maker Wesley Allen Inc.… Before that, spent 12 years with consulting firm Chartered Management… CPA Sutherland also holds MBA, tax-law degree…

>>Radiological-imaging provider Center for Diagnostic Imaging taps Percy C. Tomlinson Jr. as CFO… Tomlinson most recently with Department 56 Inc. for three years as CFO, EVP… Before that, president of Harmon Solutions Group at Apogee Enterprises… Also held post at Northwest Airlines, Credit Lyonnais…

CFO Insider

Is Information Architects getting desperate?… Maker of information-integration software announced Wednesday morning that CFO J. Wayne Thomas and CEO Robert Gruder bought about 10,000 shares between them… “Wayne and I believe that the company is well positioned for success and that its shares are currently undervalued,” stated Gruder…Investors don’t, um, buy it: stock down 4 cents Wednesday afternoon, to 95 cents…

Timothy Page, CFO of Perry Ellis International, earned $117,692 and a $24,000 bonus in 2002…

Tofutti Brands finance chief Steven Kass earned $250,000 in 2001 at hippie-food maker… Up only slightly from previous year, when he earned $248,557…