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CFOs on the Move: Week Ending April 20

Saks, Orbitz, The Pantry, Jewett-Cameron Trading, Nutraceutical International, Quiksilver, SVB Financial, Alpharma, AgFirst Farm Credit Bank, Crede...
Sarah JohnsonApril 19, 2007

• Saks Inc. has promoted Kevin Wills to executive vice president and CFO, effective May 4, the same day Michael Archbold had been slated to take on the role. Archbold resigned last week as executive vice president and chief financial and administrative officer of Saks Fifth Avenue to take on the CFO and chief operating officer titles at The Vitamin Shoppe. Last year, Saks said both Wills and his predecessor, Douglas Coltharp, were unwilling to relocate from Alabama to New York after Saks decided to consolidate its executive offices to the Northeast after selling its Parisian business. Wills joined the company in 1997. He has held various executive titles, including chief operating and administrative officer of Parisian and, since 2005, executive vice president of finance and chief accounting officer of Saks Inc. Before joining Saks, Wills was vice president and controller of the Tennessee Valley Authority and an audit manager with Coopers & Lybrand. Coltharp will become a partner at Arlington Capital Advisors, a private equity firm.

• Orbitz Worldwide CFO Steve Barnhart has been promoted to CEO and president of the travel agency. Barnhart joined Orbitz LLC in 2003 and helped take the company public. He was named president and CFO last September. He previously worked at the Pepsi Bottling Group as director of finance. Orbitz, a division of Travelport, is searching for a new CFO.

• Daniel Kelly has resigned as vice president of finance, CFO, and secretary of The Pantry Inc. “For personal and health reasons and a desire to spend more time with my family, I decided to reduce my professional commitments,” he said in a company press release. The convenience store chain is searching for Kelly’s replacement. He told the company he will be available until November to help with the transition.

• Jewett-Cameron Trading Co. has appointed Terry Schumacher to CFO. He replaces Dan McDonell, who left the company to pursue other interests, according to a company press release. Schumacher previously served as vice president and senior research analyst at Wells Fargo Securities, and he has held a variety of financial and analytical positions for Forest City Trading Group, International Paper, Merrill Lynch, and Puget Sound Plywood.

• Leslie Brown will resign as senior vice president of finance and CFO of Nutraceutical International on April 27. He will remain an employee of the nutritional-supplement manufacturer during its transition to a new finance executive. He is leaving “to pursue a new career opportunity,” according to a company press release. Brown’s successor, Cory McQueen, has been promoted from vice president and controller to vice president and CFO. McQueen joined the company in 1995.

• Quiksilver has appointed Joe Scirocco as CFO. He replaces Steve Brink, who has resigned to pursue other interests and is staying with the outdoor sports company during its transition period. Brink worked at Quiksilver for 11 years. Scirocco previously served in various executive capacities for Tommy Hilfiger Corp., including CFO. He also worked as an audit partner for PricewaterhouseCoopers.

• Jack Jenkins-Stark has resigned as CFO of SVB Financial Group to take on the same role at BrightSource Energy. Michael Descheneaux, SVB’s managing director of accounting and financial reporting, will replace Jenkins-Stark on April 30. Before joining SVB in 2004, Jenkins-Stark was vice president of business operations and technology at Itron and senior vice president and CFO at Silicon Energy Corp. He also served as senior vice president and CFO of GATX Capital, and he held senior management roles at PG&E Corp. for more than 20 years. He serves on TC Pipelines’ board of directors. Descheneaux previously was a managing director with Navigant Consulting and head of an Arthur Andersen division.

• Alpharma has appointed Jeffrey Campbell as executive vice president and CFO. He had been serving as the interim finance chief of the pharmaceutical company since September. He joined Alpharma in 2002 as vice president and controller and was named vice president of finance in 2005. He previously worked at Ingersoll-Rand Co. as assistant corporate controller and PricewaterhouseCoopers as an audit manager. His predecessor, Matthew Farrell, left Alpharma to take on the vice president of finance and CFO role at Church & Dwight Co.

• AgFirst Farm Credit Bank has named Charl Butler chief financial officer. Butler is a former CFO of The National Bank of South Carolina and Citizens & Southern National Bank of South Carolina. He began his career at Ernst & Young.

• Credence Systems has appointed Joy Leo as senior vice president of finance and chief financial officer. She will begin her new role when the company files its quarterly report in June. John Batty, the company’s CFO for more than two years, is staying with the company during the transition. Before joining Credence, Leo was vice president of finance and administration, chief financial officer, and secretary for Artisan Components. She also served as vice president of finance and administration, and CFO for IMP Inc.; vice president of finance, operations, and administration at Innomedia; and vice president and CFO for Philips Components. Credence provides services to the semiconductor industry.

• Cygnus Business Media has appointed James Ogle as CFO. He was most recently vice president of finance at Penton Media, where he had worked since 2001.
He was also a controller at Sharemax and assistant controller at Federal Business Products.

• Aircastle has appointed Michael Inglese as chief financial officer. He replaces Mark Zeidman, who has resigned to pursue other opportunities, according to a company press release. Inglese previously was executive vice president and CFO of PanAmSat Holding Corp., which was sold in July 2006. Aircastle leases aircraft.