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CFOs on the Move

HealthSouth; Charter Communications; Marriott Vacation Club International; McAfee; Red Hat; Mosaic; Good Technology; StereoVision Entertainment; In...
Lisa YoonSeptember 10, 2004

• Birmingham, Alabama-based HealthSouth Corp. appointed John Workman to the position of executive vice president and chief financial officer effective September 20. Most recently, Workman served as CEO and CFO of U.S. Can Co., an $837 million (in revenues) manufacturer of aerosol and general-line cans. He also spent more than 14 years with Montgomery Ward & Co. Inc., a $7 billion retailer with more than 400 stores, serving in many capacities in the finance department including CFO and chief restructuring officer.

Workman will replace Guy Sansone, a managing director with the turnaround firm Alvarez & Marsal. Sansone has served as acting CFO since March 2003 and will transition out of the position over the next couple of months.

• Charter Communications Inc. announced that Derek Chang and Paul Martin would step in as interim co-chief financial officers until the broadband-communications company names a permanent finance chief. Michael Huseby, former executive vice president and CFO, resigned effective August 20 for a similar role at Cablevision Systems Corp. Chang is Charter’s executive vice president of finance and strategy; Martin is a senior vice president and the company’s principal accounting officer.

• Victoria Dolan is joining Marriott Vacation Club International as senior vice president and chief financial officer. Dolan moves to the timeshare division of Marriott International Inc. from the company’s international lodging division, where she was senior vice president of finance for the past four years. Before joining Marriott, Dolan spent nine years at The Coca-Cola Co., where her positions included CFO and executive vice president of the Japan division and division finance director for the Central America and Caribbean division.

• Santa Clara, California-based computer-security specialist McAfee Inc. announced that Stephen Richards, the company’s chief financial officer and chief operating officer, intends to retire at the end of 2004. Richards, previously the finance chief of E-Trade, joined McAfee as CFO in April 2001 and was named COO in November of that year.

• Linux vendor Red Hat named Charles Peters, formerly chief financial officer of Burlington Industries, as its new CFO, 10 weeks after the resignation of CFO Kevin Thompson. That sudden departure, three days before Red Hat’s earnings announcement, was followed in July with the announcement that Raleigh, North Carolina-based company would restate results for its 2002, 2003, and 2004 fiscal years to correct how it recognizes subscription revenue.

• One-time Honeywell finance chief Lawrence W. Stranghoener has been named executive vice president and chief financial officer of The Mosaic Co., the recently named Minneapolis-based company to be formed upon the closing of the combination of Cargill Crop Nutrition and IMC Global Inc. He joins the new crop-nutrition company from Thrivent Financial, where he was executive vice president and CFO, following 17 years in senior management at Honeywell. Mosaic marks Stranghoener’s second go-round as CFO of a startup; before Thrivent, he was the finance chief of Techies.com, an online recruiting service for tech professionals.

• Good Technology Inc. tapped Sonita Ahmed as chief financial officer. Ahmed joins the Santa Clara, California-based provider of wireless messaging and corporate-data access from Intuit, where she held a number of finance positions including corporate controller, vice president of financial planning and analysis, and vice president of internal audit. Previously Ahmed was a divisional controller at Apple.

• StereoVision Entertainment Inc. hired Theodore P. Botts as chief financial officer. Botts has managed his own financial-advisory firm, Kensington Gate Capital, since 2000, following 12 years as a managing director at UBS and 14 years at Goldman Sachs.

• Los Angeles-based Innovo Group Inc. promoted chief financial officer Marc B. Crossman to president of the apparel group. Crossman has been CFO of the company, which makes Joe’s Jeans, since March 2003, and a director since 1999. He will replace founder Pat Anderson, who resigned as president and a director. Anderson was also head of Innovo Group’s money-losing accessory subsidiary, Innovo Inc., which the parent is eliminating.

• Party City Corp., a Rockaway, New Jersey-based party-goods chain, named Gregg A. Melnick to the position of senior vice president and chief financial officer. Melnick, was previously vice president of business-unit finance and treasury at Dow Jones & Co. Inc. Before joining Dow Jones, he spent a year as CFO of Susan Dell Inc., a privately held women’s luxury retailer. Melnick succeeds Linda M. Siluk, who will leave Party City to pursue other opportunities.

• Superclick Inc., a Laguna Hills, California-based provider of Internet-access solutions to the school dormitories market, appointed Claude Smith as chief financial officer. Smith has held executive and finance roles at companies ranging from start-ups to divisions of multibillion-dollar firms in manufacturing and distribution, according to a company statement.

• Strategic Hotel Capital Inc. announced that Jim Lyman resigned from his chief financial officer post to pursue other interests. Lyman will stay with the real estate investment trust through the end of September. Vice president and controller Monte Huber and his team will be working with president and chief executive officer Laurence Geller until the company finds a replacement.

• Jane W. Burks, former chief financial officer and vice president of organizational services of Washington-based Volunteers of America, was named president of The Center for Women and Families Inc., based in Louisville, Kentucky. Before her work in nonprofits, Burks was an executive with PNC Bank for 21 years, including a stint as vice president of corporate banking.