CFOs on the Move: Week Ending March 28

Electronic Arts, Tribune,, Metabolix, Obgai, Diatect, Phazar, Movado, The Purple Beverage, Dycom Industries, XOJET, Société Générale, CDC...
Laura Cameron and Kate PlourdMarch 27, 2008

• Electronic Arts’ CFO Warren Jenson has announced he will resign from the video game publisher as it continues its hostile takeover bid for competitor Take Two Interactive Software, which makes the popular Grand Theft Auto series. Jenson, who has been with the company since 2002, said his resignation was a mutual agreement with EA’s chief executive John Riccitiello. EA said a replacement will be named shortly.

Tribune Co. CFO Don Grenesko is retiring after a 28-year career at the media company, 17 of which were spent overseeing the finances. In 1980, Grenesko began his career as treasury manager. He was named executive vice president of business operations for the Cubs in 1985 and served as the team’s president and CEO from 1988 to 1991. His successor, the current vice president and treasurer Chandler Bigelow, has been with Tribune since 1998.

• Chinese Internet search engine appointed Jennifer Li to replace previous CFO Shawn Wang, who died in an accident last December. Li comes to Baidu from General Motors Acceptance Corp.’s North American operations, where she served as controller.

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. 

• Joseph Hill has been named CFO for Metabolix, a Cambridge, Mass.-based bioscience company. His most recent role as senior vice president and chief financial officer at Amicas Inc. tops a 15-year career in executive roles. He will start April 8.

• Skin health systems provider Obagi announced that its CFO, Stephen Garcia, will resign July 15. Garcia, who led the company through its 2006 IPO, said it was a difficult decision to leave the Long Beach, Calif.-based company. A nationwide search for his replacement is in the works.

• Robert Rudman became CFO for eco-friendly pesticide company Diatect International on March 24. Rudman was previously a managing partner at Aspen Capital Partners.

• The former controller of Shared Technologies firm, Deborah Inzer, was named CFO at Phazar Corp. She also previously served as vice president of accounting and controller at Dave & and Buster’s from 1999 to 2005 and senior vice president of accounting at AmBrit Energy Corp. from 1989 to 1999.

• Sallie DeMarsilis will oversee the finances at watch maker Movado Group. DeMarsilis, who also acquires the role of principal accounting officer, is replacing Eugene Karpovich, who will remain as an officer and senior member of the management team. In her most previous role, DeMarsilis was senior vice president of clothing wholesaler and retailer Wamaco Group Inc.

• The Purple Beverage Co.’s newly named CFO Michael Wallace will bring a diverse background in leadership and financial expertise to the Fort Lauderdale, Fla.-based company. Most recently, Wallace served as CFO and senior vice president for the Radiology Corp. of America. He also investigated possible securities laws violations and financial fraud when he was assistant chief accountant for the Securities and Exchange Commission’s enforcement division.

• Contracting services company Dycom Industries has appointed H. Andrew DeFerrari as its CFO, starting April 8. DeFerrari replaces Richard Dunn, who is leaving to pursue other interests. DeFerrari is currently vice president and chief accounting officer.

• The former CFO of Eos Airlines Inc., Eilif Serck-Hanssen, has been named CFO of private aviation company XOJET. Serck-Hanssen, who was senior vice president and treasurer of US Airways before he worked at Eos, will also serve as its president of international operations. He has also held senior finance positions at Northwest Airlines and PepsiCo’s international business units in Asia.

• Société Générale, the French bank that revealed a rogue trader had run up losses of 4.9 billion Euros, has promoted CFO Frederic Oudea to the post of deputy chief executive. Oudea will continue in his role as CFO.

• French state-owned bank Caisse des Depots et Consignations has appointed Alain Quinet, its financial inspector, to serve as director of finance and strategy. He replaces Dominique Marcel, who will be offered another role within the group.

• Dutch financial services group ING Investment Management Europe has promoted its head of group investor relations, Jonathan Atack, to the new role of chief financial and risk officer. Dorothy Hillenius, who was previously senior manager of the IR team, will replace him.

• U.K. insurer Prudential has appointed Peter O’Donnell to the new post of group director of finance. O’Donnell is leaving his post as U.K. FD of rival insurer Royal & Sun Alliance, where he is being replaced by Caroline Ramsay, the group’s financial planning and analysis director.

• U.K. engineering and project management group AMEC has announced the resignation of finance director Stuart Siddall. The company has begun looking for a successor.