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CFOs on the Move

Caesars Entertainment; Ohio Casualty Insurance; First Federal Capital; St. Jude Medical; Dollar General; SanDisk; PalmOne; AaiPharma; Investment De...
Stephen TaubMay 14, 2004
  • Caesars Entertainment Inc. said executive vice president and chief financial officer Harry Hagerty submitted his resignation, effective May 12. The company named senior vice president and controller Wesley Allison as interim CFO.

Hagerty said he decided to resign as he entered the final year of his three-year contract to allow president and chief executive officer Wallace Barr to name his own CFO; Hagerty was appointed to his position by Barr’s predecessor. Barr, incidentally, had joined the company as corporate controller and treasurer when it was called Bally’s Park Place.

  • The Ohio Casualty Insurance Co., a subsidiary of Ohio Casualty Corp., announced a reorganization of its top management staff that included the naming of Michael Winner as executive vice president and chief financial officer. He replaces Donald McKee, who is leaving to pursue other business opportunities. McKee has agreed to provide consulting services through December 31, 2004.

Winner joined Ohio Casualty in February 2004 from Nationwide Insurance, where he was vice president of finance.

  • First Federal Capital Corp., parent company of First Federal Capital Bank, promoted David Reinke to senior vice president and acting chief financial officer. He has been with the company since 1989, most recently serving as vice president-internal audit.

Reinke fills the position which was vacated when First Federal CFO, treasurer, and senior vice president Mike Dosland was called to active duty as a lieutenant colonel in the Army National Guard. Reinke will hold the position of acting CFO until Dosland returns or until the proposed acquisition of First Federal Capital Corp. by Associated Banc-Corp is consummated later in 2004.

  • St. Jude Medical Inc. promoted John Heinmiller to executive vice president and chief financial officer. He will report to chief executive officer Daniel Starks, who took over from Terry Shepherd at the company’s annual meeting earlier this week. All corporate staff will report to Heinmiller, the medical device maker announced in a press release.
  • Dollar General named David Tehle as executive vice president and chief financial officer, effective June 7. He succeeds James Hagan, who announced his departure in March. Tehle is currently executive vice president and CFO of Haggar Corp.
  • Judy Bruner has joined SanDisk as chief financial officer, effective June 21. Bruner, who had held a similar position with PalmOne Inc., has served on SanDisk’s board of directors since July 2002, but will step down from that role. She will be taking over for Michael Gray, who will pursue other interests.

PalmOne vice president Philippe Morali will serve as acting chief financial officer while the company conducts a search for Bruner’s replacement.

  • William L. Ginna Jr. has resigned as executive vice president and chief financial officer of AaiPharma Inc. Gina Gutzeit has been appointed to the position of interim CFO while the company searches for a permanent replacement.

In late April, a committee investigating “unusual sales” at AaiPharma found a number of instances where sales were booked incorrectly. The pharmaceutical company plans to restate its financials for the first three quarters of 2003, according to published reports.

  • The Ontario District Council of the Investment Dealers Association of Canada has fined Edward Ing, the former chief financial officer of St. James Securities Inc., for failing to adequately supervise a broker, according to Investment Executive. The Canadian newspaper, which covers financial advisors, reported that the District Council determined that Ing did not adequately supervise the trading of John Illidge, and that Ing failed to discharge his duties as CFO of St. James Securities Inc. in a prudent and reasonable manner.