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CFOs on the Move: Week Ending February 9

PepsiCo, Nortel Networks, Acxiom, Iron Mountain, Janus Capital Group, Adams Respiratory Therapeutics, Zumiez, Ecora Software, Sigma Designs, RF Ind...
Sarah JohnsonFebruary 8, 2007

Indra Nooyi, CEO of PepsiCo, will take on the additional title of chairman of the board. In October, Nooyi was promoted from CFO to chief executive. She was elected to the soft drink and snack food company’s board in 2001. She joined the company in 1994 as senior vice president of strategic planning. Before joining PepsiCo, Nooyi spent four years as senior vice president of strategy and strategic marketing for Asea Brown Boveri, and four years as vice president and director of corporate strategy and planning at Motorola.

Peter Currie will leave his job as executive vice president and CFO of Nortel Networks on April 30. The telecom giant did not give a reason for Currie’s departure but did say he will help with the transition before he leaves. Currie left Nortel twice to serve as CFO at North American Life Assurance and RBC Financial Group. He served as Nortel’s finance chief from 1994 to 1997 and took the job again after leaving RBC in 2004. His latest time at the company included improving its governance and dealing with restatements.

• Frank Cotroneo has resigned as CFO of Acxiom after less than a year on the job. According to the software company, Cotroneo’s resignation is unrelated to his performance. Cotroneo previously served as the CFO of H&R Block and MasterCard International. He will be replaced at Acxiom by chief administrative leader Rodger Kline, who will serve as interim CFO while the company searches for a new finance chief. A member of the board of directors, Kline previously served as CFO.

• Iron Mountain has hired Brian McKeon as CFO. McKeon will join the storage company in May from Timberland Co., where he has worked in a similar capacity for the past seven years. His predecessor, John Kenny, has been named executive vice president of corporate development. McKeon also worked at PepsiCo, where he held several executive positions, including vice president of finance of the Pepsi-Cola North America division.

• Janus Capital Group has announced that executive vice president and CFO Dave Martin is leaving the funds manager, effective March 2. Senior vice president and controller Greg Frost, a 10-year veteran of the firm, will take over. Martin joined Janus in 2005 as executive vice president of finance. He previously served as senior vice president of finance at Charles Schwab, where he had also held the titles of treasurer and senior vice president in charge of planning and analysis and retail finance. He also worked at First Interstate Bank of Texas, where he was CFO of the bank’s Texas region and its national retail division.

• David Becker has resigned as chief financial and administrative officer and treasurer for Adams Respiratory Therapeutics. He has accepted a chief executive position at a privately held medical diagnostics company. He will help Adams during the transition until February 28. Rita O’Connor, senior vice
president and corporate controller, will succeed Becker as the new CFO and treasurer, effective immediately.

• Brenda Morris has resigned as CFO of Zumiez, effective in April. She cited personal reasons as the reason she is leaving the retailer. The company is searching for her replacement.

• Ecora Software has appointed Michael Sullivan as CFO. Previously, Sullivan was CFO of Segue Software, where he also held the titles of vice president of finance, corporate controller, and North American controller. He has also held financial jobs at Kortec, Bixby International, and C.R. Bard.

• Sigma Designs has named Mark Kent CFO. He previously was CFO of Transmeta. He also held CFO or CFO-in-residence positions for portfolio companies of Oak Investment Partners, including Talisma Corp., Knowledge Networks, and Securant Technologies. In addition, he served as CFO at CrossWorlds Software, and he worked in finance at LSI Logic, most recently as treasurer. Kit Tsui, Sigma’s CFO since 2001, will assume the new role of vice president of planning and administration and report to Kent.

• RF Industries has appointed James Doss as acting CFO. He was most recently a private consultant to several software companies. He has also worked at HomeRelay Communications as director of finance, CliniComp as controller, and Merrick & Co. as senior staff accountant. Doss succeeds Victor Powers, who converted his position last year into a part-time role as CFO and assistant corporate secretary for the technology company.

• Orthovita has appointed CFO Joseph Paiva as chief business officer, a new position. He has been with the biosurgery company since 1997. Albert Pavucek, who joined Orthovita in September 2006 as vice president of finance and controller, will take over as CFO. He previously served as vice president of finance and operations of PDI, and he held finance positions at Astra Zeneca.

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