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CFOs on the Move: Week Ending December 1

Comcast, Time Warner Cable, Affiliated Computer Services, Quest Software, Enterasys Networks, Xterprise, CharterMac, American Reprographics, PhotoW...
Sarah JohnsonNovember 30, 2006

• Comcast Corp. has named Michael Angelakis co-chief financial officer. Angelakis is currently a managing director of Providence Equity Partners, a private equity firm. Last year, Comcast co-CFOs Lawrence Smith and John Alchin announced they would step down in 2007. Smith will leave his role at the end of the first quarter, and Alchin will finish his position at the end of next year. Both of them will be advisers to the company, which expects Angelakis to become CFO in 2008. Before joining Providence Equity Partners in 1999, Angelakis was president and CEO of State Cable TV Corp. and Aurora Telecommunications. He also was a vice president at Manufacturers Hanover Trust Co.

• Sharon Lindenbaum, vice president and chief financial officer of The Kansas City Star, is leaving on December 31 to become vice president of finance for Time Warner Cable in Kansas City. She joined the newspaper as vice president of finance in early 1995 after serving as controller of for a weekly publisher.

• Affiliated Computer Services has announced that executive vice president and chief financial officer Warren Edwards, along with the company’s CEO, has resigned, effective November 26. ACS made the announcement after revealing that its internal investigation of its stock options grant process uncovered intentional misdating. John Rexford, executive vice president of corporate development, will take over as executive vice president, CFO, and director. He has worked for the company for more than 10 years. Edwards will stay with the company during a transition period until June 30, 2007.

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• M. Brinkley Morse, a former chief financial officer of Quest Software, has resigned as senior vice president of corporate development because he declined to be interviewed by a special committee investigating the company’s past stock option grant practices and related accounting, according to a company regulatory filing. He served as Quest’s CFO from January 2001 to April 2005. Before joining Quest, he practiced corporate finance and securities law at Vinson & Elkins and held the titles of senior vice president, general counsel, and secretary while at BMC Software.

• Enterasys Networks has appointed Terry Schmid as chief financial officer. Most recently, he was the CFO at Airflow Networks. He has held financial positions at Turnstone Systems, ONI Systems, The 3DO Co., and Electronic Arts. He also was a consultant with Sun Microsystems and Andersen Consulting.

• Xterprise Inc. has named Richard Dupont as vice president of finance and chief financial officer. He has more than 25 years financial management experience from his tenures at Ericsson and Murata Business Systems. Prior to joining Xterprise, an RFID (radio frequency identification) technology provider, Dupont was the CFO for Adea Solutions and, previously, Kforce. He also served as vice president of finance and administration for Source Services.

• CharterMac has named Robert Levy chief financial officer. He has served as the director of capital markets since joining CharterMac in 2001. Alan Hirmes will step down as chief financial officer and continue to serve as chief operating officer. Matthew Stern will assume Levy’s role as capital markets director. Levy, who signed a five-year contract with CharterMac, previously was a vice president in the real estate equity research and investment banking departments at Robertson Stephens, and he was once employed by Prudential Securities and Prudential Realty Group.

• American Reprographics has announced that Jonathan Mather will replace Mark Legg as chief financial officer. Mather, who served as Netgear’s CFO for five years, left that company in October. He previously held the CFO position at Applause, where he also held the titles of president, CEO, and chief operating officer. He once worked in public accounting with Coopers & Lybrand and Ernst & Young.

• PhotoWorks has appointed Bruce Fischer as vice president of finance and acting chief financial officer. He previously held the controller position for the Internet photo publishing company. Fischer has served as CFO of Harrison Lithographing and as controller of SCS Refrigerated Services, American Package Express, and Satisfaction Guaranteed Eateries. At PhotoWorks, Fischer is replacing Wade Pfeiffer, who was CFO and chief operating officer for only a few months. In May, PhotoWorks announced Pfeiffer’s appointment to replace Werner Reisacher, who had announced his resignation the previous month. Pfeiffer’s last day was in mid-August.

• Bioenvision has appointed James Scibetta chief financial officer. Scibetta was most recently executive vice president and CFO of Merrimack Pharmaceuticals, and he formerly served as a senior investment banker at Shattuck Hammond Partners. David Luci, formerly Bioenvision’s CFO, has retained his titles of general counsel and corporate secretary, and has been promoted to executive vice president. Bioenvision deals with compounds and technologies for cancer treatments.

• Planet Blue, a clothing retailer, has hired Mitch Allen as chief operating officer and chief financial officer. He was formerly the CFO of Robbins Bros., which sells engagement rings.