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CFOs on the Move: Week Ending June 15

Royal Ahold, CSK Auto, TJX, Take-Two, LaPolla Industries, Richardson Electronics, Marsh, InfoSearch Media, Tesoro, Georgia Gulf, LookSmart.
Sarah JohnsonJune 14, 2007

• Royal Ahold has appointed Kimberly Ross as deputy CFO, effective July 1. She will report to CFO John Rishton, who will soon take over responsibilities as acting president and CEO in addition to his finance chief duties. The Dutch food conglomerate recently announced that Anders Moberg, who joined the company while it was embroiled in a massive accounting scandal, will leave his job as president and chief executive July 1. Ross has worked at Ahold since 2001 after stints at Ernst & Young and Joseph E Seagram & Sons. Ahold’s American brands include Stop & Shop and Giant Food Stores.

• James Riley has resigned as senior vice president and CFO of CSK Auto Corp. to take the finance chief position at Ormet, an aluminum production company. He will leave at the end the June. The company has not yet announced Riley’s temporary replacement and is searching for a new CFO.

• The TJX Cos. has named Nirmal Tripathy executive vice president and CFO. Tripathy joins the retailer from Macy’s Florida Inc., where he was president and chief operating officer for the past four years. He has also held senior positions at Limited Brands and PepsiCo and was once a consultant with PricewaterhouseCoopers. Tripathy replaces Jeff Naylor, who had been CFO for the past three years and is now TJX’s chief administrative and business development officer. Naylor continues to hold the title of senior executive vice president. He previously was CFO of Big Lots and has also worked at Limited Brands, along with Sears, Roebuck & Co. and Kraft Foods.

• Lainie Goldstein is officially the new CFO of Take-Two Interactive Software. She had been serving as the interim finance chief for the company behind the “Grand Theft Auto” videogame since April. She has been with the company since 2003 and has also held the title of senior vice president of finance. Her appointment was part of a series of moves by new management designed to put the company back on track after a number of restatements. Before joining Take-Two, she served as vice president of finance and business development with Nautica Enterprises. She also held positions in the audit and reorganization departments at Grant Thornton.

• LaPolla Industries has hired Timothy Novak as CFO and corporate treasurer to replace John Campbell, who filled the role for 16 months. Novak joins the manufacturer from Huntsman Corp., where he was director of financial reporting. He also worked at Epoch Well Services and Nabors International as vice president of finance. He started his finance career with Ernst & Young.

• David DeNeve has resigned as senior vice president and CFO of Richardson Electronics to pursue other interests, according to a company press release. When he leaves on June 22, he will have ended a two-year tenure. While the company searches for a permanent replacement, Dan Fujii will be the interim CFO. He has been Richardson’s corporate controller since May 2006. He previously was senior manager of assurance and business advisory services for PricewaterhouseCoopers.

• Marsh Inc. has named Mark C. McGivney its new chief financial officer. McGivney joins the insurance broker from the Hanover Insurance Group, where he was senior vice president of finance, corporate treasurer, and CFO for the company’s property/casualty business. He joined The Hanover in 1997 as vice president of mergers and acquisitions. He has also worked at Merrill Lynch, Salomon Brothers, and PricewaterhouseCoopers.

• Scott Brogi began his new job as CFO of InfoSearch Media on June 11. He has replaced Frank Knuettel, who left the marketing company to relocate to another state to be with his extended family, the company said in a press release. Brogi previously managed finance and business development for Pictage and managed the corporate development function for several entertainment and health care companies, including AccentCare. He began his finance career with Chase Manhattan and Houlihan, Lokey, Howard & Zukin.

• Tesoro Corp. has promoted its vice president of finance and treasurer, Otto Schwethelm, to CFO, replacing Greg Wright, who has held the finance chief role for the past seven years. Schwethelm will report to Wright, who has been named to the new position of executive vice president and chief administrative officer. Wright joined the petroleum refiner in 1995 as vice president of financial resources and treasurer. Three years later, Schwethelm came aboard as manger of economics in the supply and optimization organization and later held various titles before becoming treasurer in March 2006.

• James Matthews has taken a leave of absence from his job as vice president and CFO of Georgia Gulf Corp. The company has not determined how long Matthews will be out of work. Mark Buckis, the company’s corporate controller, will take over finance chief duties on an interim basis. Before joining Gulf in 2003, he spent 10 years in KPMG’s audit practice.

• John Simonelli plans to resign as CFO and chief operating officer of LookSmart Ltd. to spend more time with his family and young children. The online advertising company is looking for his replacement. Simonelli will stay with LookSmart during the transition.