CFOs on the Move

Ahold; British Airways; Nestlé; BellSouth; OfficeMax; Applied Micro Circuits; Interactive Data; G-III Apparel Group; Activision; Apac Customer Serv...
Lisa YoonSeptember 30, 2005

• Dutch grocer Ahold appointed John Rishton chief financial officer, effective January 1. He takes over for chief accounting officer Joost Sliepenbeek, who has been serving as interim CFO since September 1, when Hannu Ryopponen left the company.

Rishton joins Ahold from British Airways; he joined BA in 1994 as financial controller in the United States and became finance chief in 2001. At British Airways, Rishton will be succeeded by group treasurer and head of taxation Keith Williams.

• Nestlé S.A. tapped Procter & Gamble veteran Paul Polman as chief financial officer, effective January 1. Polman, a group president at Procter & Gamble Europe, will succeed Wolfgang Reichenberger, who will run a new fund created by Nestlé to help grow new businesses.

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. 

• BellSouth chief financial officer Ron Dykes will retire at the end of the year. Dykes, who has served years at the Atlanta-based telecom, has been CFO since 1995. He will be succeeded by senior vice president of finance Pat Shannon, who joined BellSouth in 1997 as vice president of finance and controller.

• OfficeMax Inc. announced that chief financial officer Ted Crumley will step down in November. Don Civgin will join the company on October 3 as executive vice president of finance and will succeed Crumley upon his departure. Most recently, Civgin served as senior vice president and CFO of General Binding Corp., a manufacturer and distributor of office products; earlier, he was a senior vice president of finance and of merchandise operations for Montgomery Ward.

• San Diego-based Applied Micro Circuits Corp. hired Robert G. Gargus as senior vice president and chief financial officer, effective October 10. Gargus was most recently the finance chief of Open-Silicon Inc.; earlier, he was CFO at Silicon Image and also served a stint as president and chief executive of Telcom Semiconductor. At Applied Micro, Gargus takes over from Jeff Blazevich, who has served as acting CFO since January and will remain vice president and controller.

• Boston-based Interactive Data Corp. announced several executive changes, including the appointment of executive vice president, chief financial officer, and treasurer Steven Crane to president of the company’s subsidiary FT Interactive Data. Crane had served as executive vice president and CFO since 1999.

• G-III Apparel Group Ltd., a manufacturer of licensed labels such as Calvin Klein and Kenneth Cole, promoted Neal Nackman to chief financial officer. Nackman has served as vice president of finance since joining the company in December 2003; previously, he held senior finance positions at Nautica Inc., Perry Ellis Inc., and Martha Stewart Living Omnimedia.

• Video game developer Activision named Thomas Tippl chief financial officer. Tippl joins the Santa Monica, California-based company after 14 years at Procter & Gamble. He succeeds William Chardavoyne, who is leaving at the end of March 2006 after five years as CFO.

• George H. Hepburn III has joined Deerfield, Illinois-based Apac Customer Services Inc. as senior vice president and chief financial officer. Since 1993, Hepburn has been with pharmacy benefit manager Caremark Rx Inc., most recently as senior vice president of finance and development.

• Schmitt Industries Inc. named Michael McAfee chief financial officer and treasurer. Before joining the Portland, Oregon-based manufacturing of balancing and measuring equipment, he was with Oregon Rail Holdings, a cruise and rail-tour company. McAfee was its CFO from 1997 until 2000 and then served as a management consultant a member of its board.

• Lennox International Inc. has appointed Gary Larson as vice president and treasurer. Larson joins the Dallas-based refrigeration specialist from Kodak Polychrome Graphics, where he was treasurer since 2002. Earlier, he was director of finance and business operations for Imation Corp.