CFOs on the Move: Week Ending December 28

Siemens, Infineon, Close Brothers, Copenhagen Airports, GE Money, Saxo Bank, ING Wholesale Banking Russia, Yandex, Devgen, Hogg Robinson Group, Ful...
Eila RanaDecember 28, 2007

• Siemens, the German engineering giant currently under investigation by authorities for numerous bribery scandals, has appointed Ralf Thomas CFO of its Industry sector. Thomas is second choice for the role, which was originally offered to Hannes Apitzsch but later revoked after it emerged that Apitzsch—a longtime Siemens’ employee—was connected to one of the bribery probes. Joe Kaeser, Siemens’ group CFO, said Thomas was “one of the company’s most capable and most highly respected managers in the area of finance, an individual who enjoys my complete trust.” Thomas, who will take up his appointment in the New Year, is currently head of Siemens’ Corporate Finance Reporting and Taxes unit.

• Marco Schröter has been appointed CFO and labour director of German semiconductor maker Infineon. The former CFO of Schenker, the German logistics group, is expected to take up his role in April 2008 when Peter Fischl, Infineon’s current CFO, retires. However, this is the second time Fischl will step down from the post. Infineon persuaded him out of retirement in August 2007 after it sacked then CFO Ruediger Guenther after only months into the job, due to “irreconcilable differences.”

• Close Brothers, the UK-based specialist merchant banking group, has appointed Jonathan Howell as finance director. Howell, who is due to take up his post on February 4th 2008, joins from the London Stock Exchange where he has been finance director since 1999.

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• Per Madsen, CFO of Coca-Cola for the Nordic region, takes up a new post as CFO of Copenhagen Airports on February 1st 2008.

• GE Money in the Czech Republic and Slovakia has appointed CFO Christoph Glaser as acting CEO following the departure of CEO Pieter van Groos. The company said it had started a search for a new CEO.

• Saxo Bank, the Copenhagen-based online investment bank, has appointed Howard Prince-Wright as its new CFO. Prince-Wright, who takes up his post in March 2008, joins from Titan Cement Company, the Athens-listed group where he has worked for the past six years.

• Katerina Sapozhnikova has been named finance director of ING Wholesale Banking Russia. She was previously finance director of Russia’s Trust Investment Bank.

• Elsewhere in Russia, search engine Yandex has appointed Nilesh Lakhani as its new CFO. Lakhani was formerly CFO of CTC Media, a Russian independent TV broadcaster listed on Nasdaq.

• Belgian biotechnology company Devgen has appointed Wim Goemaere as its new CFO. Goemaere, formerly CFO of the Flanders Institute for Biotechnology, replaces Hilde Windels, who becomes head of Devgen’s pharma business unit.

• Julian Steadman, former group finance director of UK logistics company Christian Salvesen, has taken up the same post with Hogg Robinson Group—the UK-based corporate services company. Steadman, who replaces John Kennerley, left Christian Salvesen following its sale to French logistics company Norbert Dentressangle.

• James Douglas has been formally appointed finance director of Fuller, Smith & Turner—the UK-based independent brewer. Douglas, a former finance director of telecoms operator Fibernet, joined the board of Fuller in September 2007 as FD designate. He replaces Paul Clarke, who will remain on the board of Fuller as estates director until April 2008, when he retires.