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CFOs on the Move: Week Ending Nov. 17

PetSmart, General Motors, Murphy Oil, Adobe, Wendy's, BabyUniverse, Petroleum Development, TVA, Muzak, GameTech International, PSS Systems, Hub Int...
Sarah JohnsonNovember 16, 2006

• General Motors has appointed Nick Cyprus controller and chief accounting officer, effective December 1. Cyprus previously served as the controller and CAO at The Interpublic Group of Cos.; vice president, controller, and CAO at AT&T Corp.; senior financial analyst for Amerada Hess Corp.; senior corporate internal auditor for Suburban Propane; and staff auditor for PricewaterhouseCoopers. Cyprus replaces controller Paul Schmidt, who will retire effective Feb. 1, and Peter Bible, former chief accounting officer, who resigned in June. GM announced in May that it planned to restructure the corporate controller’s office and combine the two positions. Cyprus will report to CFO Fritz Henderson.

• Tim Kullman, PetSmart’s senior vice president and chief financial officer, will resign sometime in fiscal 2007. He has agreed to remain with the company to help identify a successor and assist with the transition. The retailer quoted Kullman in a press release as saying he hopes to relocate to an area closer to his extended family.

• Murphy Oil Corp. has promoted treasurer Kevin Fitzgerald to senior vice president and chief financial officer.

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• Muzak Holdings has hired Dodd Haynes as chief financial officer, effective November 20. He was most recently vice president of internal audit and loss prevention at Family Dollar Stores, and he has held various executive and managerial positions at Goodrich Corp. and PricewaterhouseCoopers.

• Randy Furr has resigned as executive vice president and chief financial officer of Adobe Systems. The company best known for its Acrobat Reader software said Furr will remain an employee through the end of the year to assist with the transition. Furr joined the company in May, a few months after he had resigned as president and chief operating officer of Sanmina-SCI Corp. Adobe is searching for a new finance chief.

• Wendy’s International
has promoted
former chief financial officer Kerrii Anderson to chief executive officer and president, a post she has held on an interim basis since April 2006. Anderson joined Wendy’s in September 2000 as executive vice president and CFO, and was appointed to the board in November 2000. The company said it will begin a search for a new CFO.

• Robert Brown, citing personal reasons, has resigned from his role as chief financial officer of BabyUniverse Inc. and will continue to provide consulting services to the new media company. Stuart Goffman has taken on the role of interim chief financial officer. A member of the company’s board of directors, Goffman has relinquished his positions as president and chief operating officer.

• Petroleum Development Corp. has hired Richard McCullough as chief financial officer and treasurer. Darwin Stump, who became CFO and treasurer in 2003, will serve as chief accounting officer, a newly created position. McCullough previously held the positions of president and CEO of Gasource, and he has held senior positions with JP Morgan Securities, Progress Energy, Deloitte & Touche, and the Municipal Gas Authority of Georgia.

• Michael Rescoe, chief financial officer and executive vice president of financial services of the Tennessee Valley Authority has resigned from the utility to become CFO at Travelport. TVA will begin to search for a successor, and Rescoe has agreed to serve as a consultant in the transition. John Hoskins, TVA’s senior vice president and treasurer, will serve as interim CFO. Before joining the public power provider in 2003, Rescoe served as CFO and senior vice president of finance and planning at 3Com Corp., and he also held CFO positions at PG&E Corp. and Ensearch Corp.

• GameTech International has named Tracy Pearson chief financial officer. Most recently, Pearson served as senior vice president of sales and integration for Cardinal Health. She has also served as president and CFO for The F. Dohmen Co., as a senior manager for Arthur Andersen, and as a director of auditing and consulting for Mueller and Sebena. She began her career with PricewaterhouseCoopers working as an audit manager, staff auditor, and senior auditor. GameTech is an electronic bingo equipment supplier.

• PSS Systems has appointed Eric Saltzman as chief financial officer. Before joining the software company, Saltzman was CFO at Vendavo, and he held the same position at TimesTen, Cygent, and Electronics for Imaging.

• Hub International has appointed of John Graham vice president and chief financial officer. Graham will replace Dennis Pauls, who has been named president and chief executive officer of Hub Ontario. Most recently, Graham served as senior vice president of finance, treasurer, and assistant secretary at Career Education Corp. Earlier in his career, Graham served as a senior consultant at The Johnson Group, vice president of investor relations and financial reporting at Newell Rubbermaid, manager of financial planning and analysis at Kraft General Foods, and audit supervisor at Deloitte Haskins and Sells (now Deloitte & Touche). Pauls had been the CFO of Hub since 1998.

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