CFOs on the Move

Credit Suisse; Gucci; Interpool; NeoMagic; Palmer and Cay; Crane Co.; VitalWorks.
Stephen TaubMarch 5, 2004
  • Philip Ryan has resigned as chief financial officer of Credit Suisse Group, effective sometime this summer. He has held the position for 5 of his nearly 20 years with the financial services giant, which credited Ryan for completing its three-year transition to U.S. GAAP as its primary accounting standard.

Renato Fassbind, currently chief executive officer of Diethelm Keller Group, a privately held diversified company based in Switzerland, will replace Ryan beginning June 1. Fassbind, a U.S.-trained accountant, is also a former finance chief of engineering group ABB, which he left in March 2002.

  • Gucci Group NV named Alexis Babeau as its new chief financial officer, effective May 1. He replaces CFO and executive vice president Robert Singer, who will leave the company at the end of April. Previously Babeau was with credit and financial services firm Finaref, a former unit of Gucci’s majority shareholder Pinault Printemps Redoute SA.

The appointment is part of a major management shake-up at the luxury goods company, which also announced that chief executive Domenico De Sole and top designer Tom Ford will leave the company on April 30.

  • Interpool Inc., which leases cargo containers, and whose accounting is being probed by the Securities and Exchange Commission, named James Walsh chief financial officer.
  • NeoMagic Corp. named Scott Sullinger as chief financial officer and vice president of finance. Previously he served as director of finance at ON Semiconductor, following seven years in investment banking, most recently as vice president of technology investment banking at Morgan Stanley.
  • Christopher R. Sachs has joined Palmer & Cay Inc., a privately held insurance brokerage and benefits consulting firm, as chief financial officer. He will be responsible for overseeing all finance and accounting functions for Palmer & Cay and its subsidiaries. Previously he served as treasurer at Outboard Marine Corp. and M.A. Hanna Co.
  • Crane Co. announced that George S. Scimone, vice president-finance and chief financial officer, will take a temporary medical leave of absence so he can be treated for lymphoma. Eric C. Fast, president and chief executive officer, will assume the position of acting chief financial officer during Scimone’s absence.
  • VitalWorks Inc. appointed Lisa W. Zappala to its board of directors. She is currently a senior vice president of Aspen Technology Inc., performing a part-time role as senior advisor since leaving her job as chief financial officer last summer. She served as treasurer and then CFO of Aspen Technology for more than eight years.

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