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Long Way to Tipperary

Energy company Tipperary hires author of accounting textbook as CFO. Also: Delco Remy revs up finance department.
Lisa YoonJune 13, 2002

>> Energy companies on special watch by SEC in these post-Enron days for accounting irregularities… For its new finance chief, oil and gas company Tipperary Corp. went to the guy who wrote the book on petroleum accounting: Denver-based company named Joseph Feiten to top finance slot. Feiten co-authored Petroleum Accounting Principles, Procedures, & Issues, the standard textbook and reference manual on the subject…He also spent 25 years at PricewaterhouseCoopers as CPA in oil and gas industry practice…

Feiten replaces Lisa Wilson, who’s leaving to — what else? — pursue other opportunities. Wilson joined Tipperary in 1991 as tax manager, bumped up to CFO in 1998.

>> Delco Remy International Inc. CFO Raj Shah cranking up his finance team with appointment of Carol Mineart as corporate director of financial planning and analysis… Mineart joins Delco Remy from Avis Industrial Corp., where she was CFO. During her ten-year stint at Avis Industrial, she oversaw integration of nine acquisitions and joint ventures… Earlier in career, she was accounting manager and internal auditor for Bridgestone/Firestone Inc.

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Delco Remy expecting acquisition experience to come into play in Mineart’s new job. Management at car-parts maker looking to make some deals of its own as part of growth strategy, according to new boss, VP and operations controller Allen Wilkie… In 2001 Citicorp Venture Capital bought majority stake in Delco Remy and took company private…

>> In hiring its latest CFO, management at Digital Video Systems Inc. just hit “repeat track.” DVD-equipment maker brought back Robert Baker for second stint as finance chief… According to company, Baker specializes in turnaround situations. He helped company downsize in late ’90’s… Baker became company CFO in 1999, then left in April 2000. Has worked as consultant to company since then.

>> Handspring Inc.‘s outgoing CFO Bern Whitney sold 100,000 shares in May after he announced his July resignation… Whitney sold 65,000 shares at $2.15 a share on May 14 — less than two weeks after he announced resignation from handheld-computer company… On May 28 he sold another 35,000 shares for $2.24 each. Whitney made about $218,306 from the sales.

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