CFOs on the Move: Week Ending October 26

Dollar Tree, NutriSystem, LendingTree, Align Technology, Luminent Mortgage, Isilon Systems, Argo Group, BigBand Networks, Ryerson, Symyx.
Sarah JohnsonOctober 25, 2007

• Kent Kleeberger has resigned as CFO of Dollar Tree Stores after three years to join another retailer, Chico’s. Controller Kathleen Mallas will take his place as principal financial and accounting officer until Dollar Tree finds a permanent CFO. She has been with the company for 10 years. Kleeberger joined the company from Too Inc., an apparel retailer where he was CFO. Chico’s current CFO, Charles Kleman, will leave his post on November 5. Kleman also held the titles of executive vice president, treasurer, and board member.

• NutriSystem has appointed David Clark as CFO, effective November 26. He replaces James D. Brown, who had announced he was leaving the company in August. The two will work together during the transition. Clark previously was CFO of Claymont Steel Holdings since last November. He also served as CFO of SunCom Wireless and Triton Cellular Partners. He has worked at Furman Selz LLC as a managing director and Citibank NA as a lending officer.

• Matt Packey has been named senior vice president and CFO of LendingTree LLC. He has been with the company for eight years, most recently serving as chief accounting officer. He previously worked at Broadway & Seymour Inc. as a controller, another title he has held at Lending Tree. In addition, he has worked at Deloitte & Touche as a manager.

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. 

• Vice president and CFO Eldon Bullington plans to retire from Align Technology, which manufactures Invisalign for fixing teeth positioning. Bullington has been with the company since 2002. During his tenure he has “transformed” the company’ start-up finance department into a global organization, Align said this week. He previously served as CFO or in other executive financial positions at Verplex Systems, Cardiac Pathways, Verifone, and IBM. Vice president of finance and corporate controller Kenneth Arola will take on the CFO role when Bullington retires. Arola has been with the company since 2005. He previously served for 14 years as Adaptec Inc.’s vice president of finance.

• Christopher Zyda will resign as senior vice president, CFO, and corporate secretary of Luminent Mortgage Capital by December 31. He is leaving because the company is closing Zyda’s current office in California to consolidate its business operations to Pennsylvania. Karen Chang, Luminent’s controller, will take Zyda’s place on January 1. She has been with the company since 2003. She previously worked at Deloitte & Touche.

• Isilon Systems’ CFO has left the company for undisclosed reasons. The departure of Stu Fuhlendorf came at the same time as that of the software company’s CEO, Steve Goldman. Controller Bill Richter will take Fuhlendorf’s place until a permanent replacement is named, and company founder Sujal Patel has taken over the CEO role.

• Mark Haushill has decided to forego serving as interim CFO of Argo Group International Holdings to take on the chief executive position at Deep South Group Inc., which is in the process of being acquired by North American Insurance Leaders Inc. Haushill had been scheduled to temporarily fill in for Argo’s departing CFO, Robert Myron, by the end of this month. The company expects to complete its search for a permanent finance chief in the fourth quarter.

• Fred Ball has resigned as CFO of BigBand Networks Inc. to pursue personal interests, the company announced this week. BigBand is using an executive search firm to fill Ball’s position. Ball joined the provider of broadband multimedia infrastructure three years ago. He previously was CFO and executive vice president of corporate development and mergers and acquisitions for Borland Software. He also served as vice president of finance and vice president of mergers and acquisitions for KLA-Tencor; corporate controller for Tencor Instruments; and audit senior manager for PricewaterhouseCoopers.

• Recently required by buyout firm Platinum Equity, Ryerson Inc. has reorganized its executive ranks. CFO Jay Gratz has left the metals distributor, and Terence Rogers has taken his place. Rogers was previously vice president of finance.

• Symyx Technologies has given its interim CFO the permanent position. Rex Jackson had been filling in the finance chief role since June. He joined the company nearly a year ago from Avago Technologies, where he was senior vice president and general counsel. He also held the CFO role at Synopsys Inc.