CFOs on the Move: Week Ending August 17

Lockheed Martin, Chrysler, Ann Taylor, Express Scripts, Juniper Networks, Dataupia, Calamos Asset Management, InnoPath, Range Fuels, Insituform Tec...
Kate PlourdAugust 16, 2007

• Lockheed Martin has named Bruce Tanner chief financial officer, replacing former CFO and executive vice president Christopher Kubasik, who will now head one of the defense contractor’s four businesses. Tanner was previously vice president of finance and business operations for the company’s $12.2 billion aeronautics business. He will oversee the corporation’s financial strategies, processes, and operations.

• The new privately held Chrysler has appointed Ronald Kolka senior vice president and chief financial officer. Kolka, formerly vice president of corporate finance, will take on expanded responsibilities, including oversight of the treasury and tax and audit departments. He will report to chairman and chief executive officer Robert Nardelli, a former Home Depot CEO who was recently named to Chrysler’s top post.

• James Smith, finance chief for the women’s clothing company Ann Taylor, resigned this week to pursue other interests. The company said Smith will stay in the position through September while it searches for a replacement.

How Startup CFO Grew Food Company 50% YoY

How Startup CFO Grew Food Company 50% YoY

This case study of JonnyPops’ success highlights the unusual financial and operational strategies that enabled rapid expansion into a crowded and highly competitive frozen treat market. 

• Express Scripts Inc.’s said its chief financial officer and senior vice president, Edward Stiften, will retire from his position May 31, 2008, in order to spend more time with his family and find ways to “place greater emphasis on wellness objectives.” Stiften joined the pharmacy benefit manager in 2004.

• Juniper Networks has named Robyn Denholm as its new finance chief, five months after her predecessor left. She fills the spot left vacant by former CFO and executive vice president Robert Dykes, who stepped down in March when the company caught up with its financial filings and took a $900 million charge related to erroneously dated option grants.

• Dataupia Corp. has announced that Scott Dussault will oversee the finances at the data management systems company. Dussault was most recently treasurer and CFO at Archivas Inc.

• Patrick Dudasik, CFO and chief operating officer of investment firm Calamos Asset Management Inc., will retire from his post in 2008. Dudasik has been with the company since 2001.

• Greg Walker will become the chief financial officer of InnoPath. He will lead the company’s finance, legal, human resources, and IT departments. Before joining InnoPath, which offers mobile-device management services, Walker was CFO and vice president of finance at Magma, a provider of semiconductor design software.

• Range Fuels Inc. announced that Dan Hannon will serve as the ethanol company’s finance chief. Hannon most recently served as senior vice president of finance and corporate development at Reliant Energy Inc., where he led the company’s $1.8 billion public offering.

• After nearly two years without a finance chief, Insituform Technologies Inc announced that David Martin, the company’s vice president and controller, will become CFO. In January 2006, the company embarked on a national search to replace former CFO Christian Farman, who had resigned. Nineteen months later, company officials say they’re “quite confident” that Martin, a 14-year veteran of the company, will be right for the role.

• Molecular Insight Pharmaceuticals Inc. has appointed Donald Wallroth as CFO. Wallroth comes from the executive financial firm Tatum. He held CFO positions at Transition Systems and Project Software and Development Inc.

• Volterra Semiconductor Corp. has announced that Intel finance executive Mike Burns will take over the position of vice president and CFO beginning August 20. The current VP and CFO, Greg Hildebrand, will resign after 11 years with the company.

• Craig Hardy will join the recycling company ECO2 Plastics Inc. as its finance chief. The company said Hardy’s financial and operational management experience and Six Sigma qualifications are valuable to ECO2’s expansion efforts. He held previous positions as senior finance director at the business unit of E&J Gallo Winery and finance manager of General Specialty Chemicals.