CFOs on the Move: Week Ending February 22

Pitney Bowes, AirTran, Tween Brands, Pacific Office Properties, Radio One, IEC Electronics, KANA, Handleman, Frontier Airlines, Bayern LB, ABB, Bal...
Kate Plourd and Laura CameronFebruary 21, 2008

Bruce Nolop, who served eight years as CFO of Pitney Bowes, has left his position as the company reorganizes it senior management. Nolop will be replaced by Michael Monahan, who recently served as executive vice president and president of PB’s Mailstream Solutions and Services Americas. Nolop said he will pursue an executive opportunity at another company.

• The CFO for AirTran Airways will step down from his post at the end of April. The company gave no reason for the departure of Stan Gadek, who also serves as senior vice president and has been with AirTran for eight years.

• Paul Carbone, finance chief of clothing retailer Tween Brands Inc., has resigned. The New Albany, Ohio-based company stated in a press release that Carbone’s departure is not connected with any inaccuracies or omissions in its financial reporting and accounting systems, or disagreements with the company.

• Real estate investment trust Pacific Office Properties has appointed James Kasim as its CFO. Kasim was formerly the CFO and executive vice president of private real estate firm BentleyForbes.

• Peter Thompson has been appointed to oversee the finances at radio broadcaster Radio One Inc. Thompson is a familiar face to Radio One, having served as a consultant for a number of strategic initiatives since 2006 and most recently as the company’s executive vice president of business development. For five years, Thompson served as CFO at Universal Music in the United Kingdom.

• IEC Electronics Corp. has announced that Michael Schlehr will be its CFO and corporate vice president. Schlehr, who was most recently vice president of finance and administration for Robbins & Myers Inc., replaces Brian Davis.

• Customer services software company KANA has appointed Mike Shannahan as its CFO to replace retiring finance chief John Thompson. Shannahan is currently a board member at the Menlo Park, Calif.-based company. He has held the CFO title previously at Medsphere Systems Corp., Chordiant Software, NetObjects, and Broderbund Software.

• Music and software distributor Handleman Co. has announced the resignation of its executive vice president and finance chief, Thomas Braum, who has been with the company for 23 years. Braum will be replaced by senior vice president and chief information officer Khaled Haram, who has been with the Troy, Mich.-based company since 2006.

• Paul Tate, CFO and executive vice president of Frontier Airlines, will step down on March 21. Tate, who took on the role of overseeing the finances in 2001, is resigning to take a job outside of the airline industry. The company has begun a search for his successor.

• The new management team at U.K. bank Northern Rock will include Ann Godbehere as chief financial officer. The government announced it would take the troubled bank into temporary public ownership on Tuesday.

• Michael Kemmer, CFO of the state bank of Bavaria BayernLB has been promoted to CEO. He will replace Werner Schmidt, who resigned following write-downs on investments related to U.S. subprime mortgages.

• After the surprise departure of CEO Fred Kindle, Swiss engineering company ABB announced that CFO Michel Demare will assume the chief executive’s responsibilities pending a successor.

• U.K. engineering and construction company Balfour Beatty PLC promoted finance director Anthony Rabin to the new post of deputy CEO. Deputy finance director Duncan Magrath will move up to the FD post.

• Bjorn Wigstrom has been named CFO of Norwegian Electronics manufacturer Kitron. He will replace Erling Svela.