CFOs on the Move

Tyson Foods; Cardinal Health; Ikon Office Solutions; Brix Networks; Sonoran Energy.
Ed ZwirnJuly 30, 2004
  • Tyson Foods Inc. chief financial officer Steve Hankins has resigned, effective immediately, saying he wanted time to “pursue personal and family interests,” according to published reports. Hankins, who joined the company in 1983 and was named CFO in 1998, had also served as head of the company’s information technology department, reported the Associated Press. Treasurer Dennis Leatherby will serve as interim CFO while the company searches for a permanent replacement, reported CBS MarketWatch.

In recent months, the Arkansas-based company has been the subject of federal securities and tax investigations, but Tyson spokesman Ed Nicholson said Hankins’ departure was not related to any probes, according to wire service reports.

  • Richard Miller, chief financial officer of Cardinal Health Inc., has resigned, and the provider of health-care services and supplies will delay the release of its annual financial results, reported the AP.

Miller’s resignation follows the company’s June disclosure that its audit committee, the Securities and Exchange Commission, and the U.S. Attorney’s office for the Southern District of New York are investigating how the company classifies revenue from its pharmaceutical distribution business. Previously, reported the AP, the company had announced an SEC investigation of Cardinal’s handling of $22 million it received from vitamin manufacturers that overcharged the company.

  • Ikon Office Solutions Inc., a provider of document management systems and services, announced that senior vice president and chief financial officer William Urkiel plans to retire in 2005. He will remain in the position through a transition period during which he will be available to support the new CFO. Urkiel joined IKON as senior vice president and CFO in 1999 from AMP Inc., where he was vice president and CFO.
  • Applied Micro Circuits Corp. announced that chief financial officer and senior vice president Steve Smith intends to retire at the end of the calendar year and has agreed to stay on part-time, as needed, through June 2005. Smith joined AMCC in 1999 as vice president of business development and also held the position of vice president, controller, before being promoted to his current position in 2003.
  • Brix Networks Inc., a provider of voice over Internet protocol (VoIP) products, announced that it has appointed Ciena Corp.’s Joseph R. Chinnici to its board of directors. Chinnici, who joined the Ciena as controller in 1994, has served as the company’s senior vice president, finance, and chief financial officer since 1997.
  • Rasheed M. Rafidi has been appointed chief financial officer of Sonoran Energy Inc., a Los Angeles-based oil and gas company. Rafidi will also join the company’s board of directors.

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