CFOs on the Move

Refco; TiVo; Rambus; Movie Gallery; Rackspace; Kimpton Hotels; Stanley Associates; Avanex; Integra Bank; River Rock Entertainment.
Marie LeoneApril 13, 2006

• Collapsed commodities and futures broker Refco announced that it has fired chief financial officer Gerald Sherer. Last October, Refco filed for Chapter 11 bankruptcy protection after alleging that former chief executive officer Phillip Bennett hid $430 million of bad debt; Bennett has pleaded innocent to criminal charges of conspiracy and fraud. Earlier this month, Refco asked a U.S. bankruptcy judge for permission to terminate Sherer, reportedly arguing that his services were no longer needed because the firm was selling off its assets.

• Stuart West has been named acting chief financial officer for television services company TiVo. He succeeds Dave Courtney, who announced late in 2005 that he would leave the top finance job after a transition period. West, who has been with TiVo for more than five years, will retain the title of vice president, finance; he is the only internal candidate for the permanent CFO position. Prior to joining TiVo, Stuart was a business development executive in Silicon Valley; earlier in his career, he was a vice president at J.P. Morgan, where he managed mergers and initial public offerings.

• Rambus, a high-speed computer-chip interface designer, has appointed Satish Rishi senior vice president, finance and chief financial officer. He succeeds Robert Eulau, who resigned after being named CFO of Alien Technology in February. Previously, Rishi was the finance chief of Toppan Photomasks; he has also served as assistant treasurer at Dell and Intel.

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• Mark Moreland, senior vice president and treasurer of Movie Gallery, will assume the additional title of interim chief financial officer. The appointment follows the resignation of Timothy Price, who left the movie rental company for personal reasons. Moreland is the former treasurer of Hollywood Entertainment, a subsidiary of Movie Gallery.

• Rackspace Managed Hosting tapped Major Horton as senior vice president and chief financial officer. Horton joined Rackspace after nine years with Dell, most recently as general manager of Dell Financial Services; he has also held senior management positions at Deloitte and Touche and at General Motors.

• Greg Wolkom has joined Kimpton Hotels and Restaurants as chief financial officer. Most recently, Wolkom was managing director of corporate finance and global head of the lodging and leisure group for Banc of America. Kimpton is a group of boutique hotels and high-end restaurants.

• Stanley Associates, a systems integration services company, has named Brian Clark chief financial officer. Clark succeeds Mike Zaramba, who was appointed chief strategy officer. Prior to joining Stanley, Clark was the corporate controller and chief accounting officer of Titan; earlier, he was a senior manager at Arthur Andersen.

• Cal Hoagland has joined fiber-optic technology company Avanex as chief financial officer. He succeeds Tony Riley, who served as the finance chief since September and will retain the title of vice president of finance. Previously, Hoagland was a principal at Financial Leadership Group, which provides CFO consulting service. Earlier in his career, he served as chief financial officer for InterWave Communications, Phasecom, and Accom; he is also the former treasurer of Persistence Software.

• Integra Bank has promoted Martin Zorn to chief financial officer and executive vice president of finance. Zorn joined the Illinois-based bank in 2001 and served as executive vice president for commercial banking and metro markets until his appointment as chief risk officer in 2002. He remains secretary of the company.

• Hans Winkler, chief financial officer of the Dry Creek Rancheria Band of Pomo Indians, has taken on the additional role of interim CFO of The River Rock Entertainment Authority, the owner and operator of California’s River Rock Casino. Winkler will fill the position vacated by Yvonne Mao, who was terminated, until a permanent replacement is named.