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CFOs on the Move

Cott; Cox Enterprises; PNM Resources; American International Group; Coca-Cola Enterprises; Sallie Mae; Allied Defense Group; Global Secure; Clean H...
Lisa YoonJuly 29, 2005

• Toronto-based soft drink giant Cott Corp. appointed Clyde Preslar executive vice president and chief financial officer, effective August 29. Preslar, who had been the CFO of U.S. snack-food maker Lance Inc. for the past nine years, previously worked at Black & Decker, where he held roles including director of finance and director of investor relations.

• Media giant Cox Enterprises Inc. promoted executive vice president and chief financial officer Jimmy W. Hayes to president and chief operating officer, effective at the end of 2005. He will succeed Dennis Berry, who will become vice chairman; David Easterly will retire from that position while remaining a member of the board. Hayes, who joined the company in 1980, served as controller until 1989, when he joined the Cox Communications division as vice president of finance. He was named senior vice president and CFO of Cox Enterprises in 1995 and executive vice president in 1999.

• Albuquerque-based energy holding company PNM Resources named two new officers who will report to senior vice president and chief financial officer John R. Loyack. Wendy A. Carlson was named vice president of treasury and taxation, succeeding Terry Horn, a 20-year PNM veteran who was named vice president and corporate secretary in June. Carlson most recently served as directory and group head of corporate finance for El Paso Corp. in Houston. And Thomas J. Olesen will step into the new position of vice president of supply chain, effective August 8. He most recently served as vice president of supply chain for NiSource Corporate Services Co. in Columbus, Ohio.

How Startup CFO Grew Food Company 50% YoY

How Startup CFO Grew Food Company 50% YoY

This case study of JonnyPops’ success highlights the unusual financial and operational strategies that enabled rapid expansion into a crowded and highly competitive frozen treat market. 

• American International Group Inc. named Christopher J. Swift vice president and chief financial officer for its Life Insurance & Retirement Services operations. He succeeds David L. Herzog, who was recently named AIG senior vice president and comptroller. Previously, Swift was executive vice president and CFO for the AIG American General Life Companies. He joined AIG in 2003 as AIG American General’s CFO and head of its annuity operations.

• Atlanta-based Coca-Cola Enterprises named Cyril J. Turner vice president of capital planning and value management. In 2000, Turner came over from The Coca-Cola Co. to join Coca-Cola Enterprises as vice president of finance and chief financial officer of the Eastern North America Group. In 2002, he was named vice president and general manager of The Atlanta Coca-Cola Bottling Co. Inc.

• SLM Corp., better-known as educational funding provider Sallie Mae, has fired the chief financial officer of one of its debt-collection subsidiaries and demoted another manager, according to a filing with the Securities and Exchange Commission. The two managers, whom the company did not identify, inflated revenue at their division to achieve business-performance goals and thus earn higher bonuses, Sallie Mae stated in its filing.

• Charles A. Hasper resigned as chief financial officer of Vienna, Virginia-based Allied Defense Group Inc., effective August 2, to take the same position at Washington, D.C.-based homeland-security company Global Secure Corp. Larry Fischer, finance chief of Allied Defense’s NS Microwave subsidiary, will serve as acting CFO until the parent company names a permanent replacement for Hasper.

• Braintree, Massachusetts-based Clean Harbors Inc., a provider of environmental and hazardous-waste management services, named James M. Rutledge executive vice president and chief financial officer. Rutledge most recently served as CFO of Rogers Corp., a developer and manufacturer of specialty polymer and electronic materials. Previously, he was the finance chief of Baldwin Technology Co. Inc., a printing-equipment manufacturer. He also served in various capacities, including vice president and treasurer, during 20 years at chemicals company Witco Corp.

• Investment firm W. P. Carey & Co. LLC named Robert C. Kehoe treasurer. He joined the New York firm in 1987 as a senior accountant.

• AlertSite, a Web performance technology company, named Joel Richardson chief financial officer. Richardson joins the Coconut Creek, Florida-based company from CyLex Systems Inc., where he was vice president and CFO.

• Jim Timmer joined Dallas-based broadband provider AirBand Communications Inc. as chief financial officer. Most recently, held that same position at Kansas City, Missouri-based Birch Telecom.