CFOs on the Move: Week Ending November 2

RR Donnelley, Hertz, Alcatel-Lucent, LiveOps, AirTran, PCAOB, Reliant Energy, ELM Resources, Nomis Solutions, Atmel.
Sarah JohnsonNovember 1, 2007

• RR Donnelley & Sons Co. has appointed four-year veteran Miles McHugh as executive vice president and CFO. The print services company made the announcement more than seven months after promoting McHugh’s predecessor, Thomas Quinlan, to CEO and president. McHugh has been RR Donnelley’s senior vice president and corporate controller for the past year. He also served the company as CFO of RR Donnelley Logistics and assistant controller. In addition, he has worked at DPL as a controller, and he held a variety of senior accounting roles for Mirant Corp. He began his career with PricewaterhouseCoopers.

• The CFO of Hertz Global Holdings is no longer in limbo. The car rental company has removed the “interim” qualifier from Elyse Douglas’ CFO title, 14 months after she began to fill in for Paul Siracusa, who had retired. Douglas, who joined Hertz as staff vice president and treasurer in July 2006, has nearly 25 years of corporate finance, treasury, and financial management experience. She previously served for seven years as senior vice president and treasurer of COTY Inc., the $3 billion cosmetic company.

• In the midst of continued losses and impending layoffs, Alcatel-Lucent has replaced CFO Jean-Pascal Beaufret with Hubert de Pesquidoux, who leads the global company’s enterprise group. Beaufret was the CFO of Alcatel when it merged with Lucent Technologies last year. His counterpart, Frank D’Amelio, had been the CFO of Lucent for five years before taking the title of chief administrative officer of the merged company. He recently took the CFO job at Pfizer.

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• AirTran Holdings has promoted one of its former CFOs to chief executive. Robert Fornaro has taken over the CEO position of the company. He most recently was president and chief operating officer. He joined AirTran Airways in 1999 as president and CFO. He has also held executive roles at TWA, Braniff, Northwest, and US Airways.

Murray LiveOpsMurray Demo leaves Postini to pick up the CFO reigns at LiveOps.

• A former CFO of Adobe, Murray Demo has taken on the finance chief role at LiveOps, which provides distributed call center solutions. In addition to heading the finances at Adobe, he most recently held the CFO role at security vendor Postini, where he helped finalize the sale of the company to Google. He has also held various leadership roles at United Business Media, Visionary Corporate Technologies, First Image Management, and GM Hughes Electronics.

• Tom Hohman, the Public Company Accounting Oversight Board’s CFO, has resigned to take on a similar job at a private company. Before joining the PCAOB, Hohman was the CFO of technology companies, including a start-up worth $60 million in revenue and a venture capital firm with $200 million in invested capital. He began his career as an auditor with Ernst & Young.

• Rick Dobson recently began his job as Reliant Energy’s new CFO. He fills the spot left open when Mark Jacobs was promoted from CFO to CEO earlier this year. Most recently, Dobson served as CFO of Novelis Inc., where he instituted a risk management discipline and systems for aluminum, energy, and foreign currency risks. He also once served as CFO of Aquila Inc.

• ELM Resources has appointed Chet Bieganski as senior vice president and CFO. Before joining the service provider for the financial aid industry, Bieganski was vice president of financial planning and analysis for Computer Associates. He has held executive-level finance positions at Kaiser-Permanente, WellPoint Health Networks, and Columbia Information Services. He began his career at General Electric, where he held several financial and audit roles.

• Nomis Solutions has appointed Todd Spartz as vice president and CFO. He joins the software company from Openwave Systems, where he was vice president of finance and corporate controller. He has also served as vice president of finance with Metareward, and he has worked at Oblix (acquired by Oracle), Extreme Networks, Aspect Telecommunications, and Applied Materials.

• Robert Avery, vice president of finance and CFO for Atmel Corp., will retire during the first quarter of 2008. He will stay with the manufacturer until his successor is appointed. He has worked for Atmel for 18 years.