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The New Finance Chief on Verizon Horizon

Like her predecessor, Doreen Toben arises from ranks. Also Lloyds TSB grabs `Mr. Demerger,' NetRatings replaces departing CFO.
Lisa YoonMay 1, 2002

>>Verizon Communications promptly trotted out Doreen Toben as new CFO, executive veep…Toben succeeding Frederic Salerno, who, as we reported yesterday, is retiring later this year as finance chief…Toben starts new job immediately…

Verizon again promoting from within…Like Salerno, Toben scaled finance ladder at Verizon and former companies…Before replacing Salerno, was CFO, SVP for Verizon Telecom Group, which operates company’s local telephone business…Up until Bell Atlantic-GTE merger that spawned Verizon in 2000, was controller, finance VP for Bell Atlantic …Also served as VP of finance and controller of Bell Atlantic before 1997 Bell Atlantic-NYNEX merger…Started career at AT&T in treasury, later named director of corporate planning…

>>Lloyds TSB yesterday tapped Philip Hampton as finance director, reports Financial Times…Incumbent Kent Atkinson, who remains on the board as non-executive director, retiring at 2003 annual meeting…

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. 

Reportedly known as “Mr. Demerger,” Hampton brings strong cost-control, restructuring rep to UK’s third-largest bank…Got that during high-profile stints as finance director of BT Group and former British Gas, says FT…At BT, Hampton helped oversee record-breaking £5.9 billion rights issue, de-merger of wireless business MMO, sale of big chunk of property portfolio…Played major role in break-up of former British Gas, which first split into BG Group and Centrica…BG then divided into BG International and Lattice, which runs gas pipelines…

>>Internet-research company NetRatings picks Todd Sloan as CFO…Replaces Jack Lazar, who resigned for more family and other-opportunity time…Sloan was finance chief of About.com until 2001…Before that, was CFO, then COO of Sony Entertainment subsidiary Sony Worldwide Networks…

In 2001 Lazar earned $204,000…Exercised $106,000 in options…Milipitas, Calif.-based company reported first-quarter loss of 54 cents per share compared with loss of 10 cents per share year ago…Revenues lower too…

From the Proxies

Footwear company Skechers USA Inc. CFO and EVP David Weinberg earned $250,000 in salary plus $987,895 bonus in 2001…in 2000 he took home $250,00, with a $456,992 bonus…

James Dannhauser, CFO of amusement-park operator Six Flags, earned $516,181 in salary and a $639,400 bonus in 2001… In 2000 earned $459,289 with no bonus, but awarded more than $2 million in stock…

Michael Umana of athletic-wear company Saucony earned $250,971 in salary with no bonus in 2001…In 2000, Umana earned $190,000 plus $100,000 bonus…

Joan Platt of Marketwatch.com Inc. earned $261,949 and $97,500 in bonus in 2001…Year before took home $250,841 and $75,000 bonus…