CFOs on the Move

JPMorgan Chase; Disney Cruise Line; iCurie Lab Holdings; HeidelbergCement; ACE Risk Management; Powell, Goldstein, Frazer & Murphy;; ...
Lisa YoonSeptember 24, 2004

• JPMorgan Chase & Co.’s Dina Dublon is stepping down as CFO of the financial-services giant. Michael Cavanagh, currently head of middle-market banking, will succeed Dublon as finance chief. Cavanagh’s experience in financial services spans 16 years, including seven years at Citigroup. His assignments there included CFO of Citibank Consumer in Europe, the Middle East, and Africa and chief administrative officer of Salomon Smith Barney, Europe. In 2000, he moved to Bank One to become senior vice president of strategy and planning. In 2001, he was named Bank One treasurer and became chief administrative officer for the commercial bank in 2003. When Bank One merged with JPMorgan Chase, Cavanagh became head of middle-market banking.

• Tom McAlphin, one-time Disney Cruise Line CFO, is now president of the Celebration, Fla.-based cruise operator. Formerly the cruise line’s senior vice president of operations, McAlphin joined the cruise line nine years ago as vice president of finance and CFO. He helped create the budding line’s original business plan, develop its terminal at Port Canaveral, and arrange the purchase of Disney’s private island, Castaway Cay. McAlphin replaces Karl Holz, who was named president and chief operating officer of Euro Disney, outside Paris.

• London-based iCurie Lab Holdings Ltd., parent company of nano-technology company iCurie Labs Inc., named Michael Karpheden CFO. Karpheden’s finance experience includes a stint as finance chief of LM Ericsson, the mobile-systems supplier. His eleven-year career with Ericsson of North and Latin America included serving as acting president responsible for all company activities, including business development and strategies, and sales and marketing. He also served as director of finance and logistics, managing all aspects of finance and accounting for Ericsson of North and Latin America, including that of 10 U.S. subsidiaries and operations in Mexico and South America.

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• HeidelbergCement AG, Germany’s largest cement maker, named Lorenz Naeger CFO, replacing Horst Wolf. Wolf decided to step down Nov. 1 rather than at the end of May as previously planned. Naeger is currently head of accounting and a board member of Phoenix Pharmahandel AG & Co KG, Europe’s second-largest drug wholesaler, based in Mannheim, Germany.

• ACE Risk Management, a unit of ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, promoted Joe Cavolo to the position of executive vice president and CFO. Cavolo joined ACE Risk Management in February 2001. Prior to his tenure with ACE, he spent 18 years with AIG Risk Management, holding a variety of finance posts, including senior vice president and controller and finance director. ACE Risk Management offers companies customized risk management programs and services.

• Powell, Goldstein, Frazer & Murphy LLP hired J. Bruce Murphy as CFO. Most recently, Murphy was finance chief for the law firm of Baker & Daniels in Indianapolis, Ind.

• Inc., an online advertising and services company, tapped Fred Krupica as CFO. Krupica’s more than 25 years of financial experience includes his most recent job as CFO at WJ Communications Inc., a radio-frequency semiconductor company. Before WJ, Krupica was finance chief for Magnetic Data Technologies LLC. He also served as CFO and chief operating officer for a private-equity firm and was founder, president, and CFO of his own professional financial services firm.

• Xplore Technologies Corp. appointed Michael Rapisand as CFO of the Canadian maker of rugged-tablet personal computers. Rapisand succeeds David Belbeck, who chose not to relocate with the company. The Mississauga, Ontario-based company recently moved its operations to Austin, Texas.

• William Rieflin, former executive vice president of administration and CFO, general counsel, and secretary of Tularik Inc. has joined Santa Clara, Calif.-based XenoPort Inc. as president. In this role, he will oversee the corporate development, human resources, legal, and administrative functions.

• Fremont, Calif.-based Asyst Technologies Inc. named Robert Nikl to the slot of senior vice president of finance and CFO. Nikl joins the provider of automation solutions for semiconductor and flat-panel display manufacturing after his most recent role as corporate vice president of finance of global operations for Solectron Corp. in Milpitas, Calif. Before joining Solectron, Nikl worked at a number of senior finance jobs at Xerox Corp., including vice president of finance for Xerox Engineering Services.

• James Ide has joined Schaumberg, Ill.-based Pliant Corp. as executive vice president and CFO. Ide was most recently finance chief and treasurer of Next Level Communications Inc., a telecom-equipment maker acquired by Motorola, Inc. in 2003. Ide takes over the role from Brian Johnson, who in May took on the added job of executive vice president of strategy and business development. Pliant produces film and flexible packaging products.

• Savage, Md.-based MetaMorphix Inc. said Thomas Russo joined the company as its executive vice president and CFO. Russo joins MetaMorphix after serving as finance chief of Chesapeake PERL, a small biotech startup, since early 2004. Before C-PERL, he was a principal with Advisory Associates Inc., a business advisory firm for companies seeking funding, since 2002. From 2000 to 2002, Russo was finance chief of EntreMed Inc. Privately held MetaMorphix is specialist in genetic engineering of food.

• A. M. Castle & Co., a North American metals and plastics distributor, promoted Lawrence Boik to the posts of vice president of finance, chief financial officer, and treasurer. Boik will succeed CFO Edward Culliton, who is retiring from the role he’s held for the past 27 years. Culliton will be retiring in February 2005 and will serve as vice president and special assistant to the CEO until his retirement.

• Vancouver, British Columbia-based Nam Tai Electronics Inc. made two senior finance appointments. Charles Wong was named CFO, and Joseph Edward Silva is now assistant finance chief. The current CFO of Nam Tai, Koo Ming Kown, will become a non-executive director of Nam Tai on Jan. 1. Wong joins Nam Tai from Hong Kong-based Bestway International Holdings Ltd, where he was CEO and executive director.

Before joining Nam Tai, assistant CFO Silva’s roles include CEO positions at investment-management firm Friends, Ivory & Sime Asia and investor-relations company First Investor Relations.

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