CFOs on the Move

Boeing; Delphi; RadioShack; Phillips-Van Heusen; Dunkin' Brands; Dreyer's Grand Ice Cream Holdings; Candie's; Bank of America; Lincoln Financial Di...
Lisa YoonMarch 11, 2005

• Boeing Co. appointed chief financial officer James A. Bell interim president and chief executive officer, replacing president and CEO Harry Stonecipher, who was ousted after discovery of an affair with another Boeing executive. The board determined that Stonecipher’s actions were inconsistent with Boeing’s code of conduct and “would impair his ability to lead the company.” Boeing is considering both internal and external candidates for the permanent CEO post; Bell, who is not a candidate, will serve until the search is completed.

• Delphi Corp. announced that vice chairman and chief financial officer Alan S. Dawes is leaving the company and has resigned from its board. Dawes “agreed to resign after the audit committee expressed a loss of confidence in him,” said Robert H. Brust, executive vice president and CFO of Eastman Kodak Co. and the outside director who chairs Delphi’s audit committee. John D. Sheehan, chief accounting officer and controller, was named acting CFO. Sheehan joined Delphi from KPMG in July 2002, where he had been a partner.

The Troy, Michigan-based company’s former chief accountant and controller also has left the company, and the vice president of treasury, mergers and acquisitions, and new markets has been reassigned to a non-officer position.

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• David Barnes was named senior vice president and chief financial officer of Fort Worth, Texas-based RadioShack Corp. effective April 18. Since 1999 Barnes has been with Coors Brewing Co., most recently as CFO. From 1994 to 1999, he held financial management positions with Yum Brands, the parent company of Pizza Hut, KFC, and Taco Bell, where he worked extensively in international financial markets. He began his career as a consultant with Bain and Co.

• Bruce Klatsky is stepping down as chief executive officer of apparel company Phillips-Van Heusen Corp. As called for in the company’s succession plan, president and chief operating officer Mark Weber will succeed Klatsky as CEO; executive vice president and chief financial officer Emanuel Chirico will succeed Weber as president and COO. Chirico, who left Ernst & Young in 1993 to join the company as controller and who became CFO in 1998, will also be nominated for a seat on the board of directors.

• Dunkin’ Brands Inc., the Canton, Massachusetts-based parent company of fast-food chains including Dunkin’ Donuts, appointed Kate Smith Lavelle chief financial officer. Since 1998, Lavelle has held a number of senior finance positions at LSG Sky Chefs, a wholly-owned subsidiary of Lufthansa Airlines, most recently global senior vice president of finance and chief accounting officer. She began her career at Arthur Andersen, where she was senior audit manager.

• Dreyer’s Grand Ice Cream Holdings Inc. named Doug Holdt executive vice president and chief financial officer. Holdt joins the Oakland-based company — formed by the 2003 combination of Dreyer’s Grand Ice Cream Inc. with Nestlé’s U.S. frozen dessert business, Nestlé Ice Cream Co. — from Nestle Canada. There, Holdt was a 19-year veteran, serving most recently as senior vice president and CFO. Previously, he was senior vice president of finance for the beverage division of Nestle USA, and before that, he was vice president and corporate controller for Nestle USA. He replaces Alberto Romaneschi, who is headed back to Nestle after two years as CFO of Dreyer’s.

• Apparel and accessories manufacturer Candie’s Inc. appointed Warren Clamen chief financial officer. Clamen joins the New York-based company from entertainment retailer Columbia House, where he was vice president of finance for the past four years. Before that, he was vice president of finance at Marvel Entertainment Inc.

• Bank of America named enterprise market and operational risk executive J. Chandler Martin as treasurer, reporting to chief financial officer Marc Oken. Martin, who joined the bank in 1981, previously was risk management executive of global corporate and investment banking. He replaces Joseph Dewhirst, who is leaving the Charlotte, North Carolina-based company.

• Lincoln Financial Distributors Inc., the wholesaling distribution organization of Lincoln Financial Group, promoted director of financial reporting Diane M. McCarthy to chief financial officer and chief administrative officer. Before joining Lincoln in January 2004, she served as CFO for Storecast Merchandising Corp. McCarthy succeeds Michael S. Smith, who was appointed CFO and chief risk officer of The Lincoln National Life Insurance Co.

• Bertrand de La Noue was appointed president and chief executive officer of Total Holdings USA Inc. — a subsidiary of Total S.A. — and chief financial officer of Total Petrochemicals USA Inc. Previously de La Noue was CFO for Total France, the refining and marketing subsidiary of Total S.A.

• Stamford, Connecticut-based Crane Co., a diversified manufacturer of engineered industrial products, appointed J. Robert Vipond vice president of finance and chief financial officer. Vipond was with General Electric Co. from 1973 to 1994; his last position was CFO of the corporate finance group for GE Capital Corp. From1994 to 2000, he was vice president and controller for Praxair Inc. Most recently he was a consultant with Impala Partners and an independent contractor providing financial advisory services focused on restructuring.