People

CFOs on the Move

Siemens, Lufthansa, La-Z-Boy, Freddie Mac, Royal Caribbean Cruises, URS, Under Armour, EGL.
Lisa YoonMarch 23, 2006

• Heinz-Joachim Neubürger is stepping down as chief financial officer of industrial conglomerate Siemens AG, more than a year before the September 2007 expiration of his contract. Neubürger, who has been with Siemens since 1989 and took over as CFO in 1998, will be succeeded by chief strategy officer Joe Kaeser, effective May 1. Kaeser, joined the company in 1980 in business administration; he became chief strategy officer in 2004.

• Deutsche Lufthansa AG appointed Stephan Gemkow chief financial officer for three years, effective June 1. He will succeed Karl-Ludwig Kley, who is stepping down to become deputy chief executive of Merck KgaA. Gemkow has been a member of the executive board of Lufthansa Cargo AG since February 2004, with responsibility for finance and human resources; since he joined the airline in 1990, he’s held positions including head of investor relations and senior vice president of corporate finance. Gemkow will be succeeded by Roland Busch, senior vice president of corporate finance at Deutsche Lufthansa since 2004. Busch, who joined the company in 1991, has served in roles including head of corporate audit.

• David M. Risley will retire as senior vice president and chief financial officer of La-Z-Boy Inc. this summer, after the company completes its year-end reporting. Risley joined the Monroe, Michigan-based furniture maker in 2001. He will be succeeded by Louis M. Riccio Jr., who joined the company in early 2000 when it acquired Ladd Furniture Inc., where he had been corporate controller. He currently holds the same position at La-Z-Boy.

• Martin F. Baumann resigned as executive vice president of finance and chief financial officer of McLean, Virginia-based Freddie Mac. Baumann joined the mortgage-finance company in 2003 after 30 years at PricewaterhouseCoopers. At Freddie Mac, president and chief operating officer Eugene McQuade will assume Baumann’s responsibilities while the company searches for his successor.

• Miami-based Royal Caribbean Cruises Ltd. named Thomas Martin senior vice president and treasurer, reporting to executive vice president and CFO Luis E. Leon. Since 2001, Martin was vice president and treasurer of Allied Waste Industries Inc.; earlier, he was vice president of treasury, tax, and procurement at E-Trade Financial Corp.

• URS Corp., a San Francisco-based engineering services provider, announced that vice president of finance H. Thomas Hicks has succeeded Kent P. Ainsworth as chief financial officer, a succession plan announced when Hicks joined the company last fall. Ainsworth will stay on as a senior advisor.

• Athletic apparel maker Under Armour Inc. promoted senior vice president and chief financial officer Wayne Marino to executive vice president. Marino joined the Baltimore-based company in 2004.

• Houston-based logistics company EGL Inc. named Charles H. Leonard chief financial officer. Previously, Leonard was senior vice president and CFO of pipeline company Teppco Partners LP, which he joined in 1988.