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CFOs on the Move: Week Ending April 4

VeriFone, Westmoreland, Scripps Company, ImClone, Limco-Piedmont, Adaptec, Rackspace, Neurobiological Technologies, GTX, GAIN Capital, Autoliv, Wim...
Kate Plourd and Laura CameronApril 3, 2008

• Barry Zwarenstein, the CFO of VeriFone Holdings, resigned after an audit committee investigation into inventory accounting errors forced the company to restate results for prior periods. The company said it is searching for a new CFO.

• A finance team shake-up at Westmoreland Coal Co. has brought in Kevin Paprzycki as the company’s finance chief to replace current CFO David Blair. The company is amid a Securities and Exchange Commission investigation into accounting errors, though it has not stated if any there is any connection with the recent management change. Paprzycki was most recently acting CFO at Ondeo Nalco Co.

• Media conglomerate E.W. Scripps Company has named two company veterans to lead the finances when the company splits in two this summer. Timothy Stautberg has been named CFO and a senior vice president of E.W. Scripps, succeeding Joseph NeCastro, who was named CFO and executive vice president of the split-off company, Scripps Networks Interactive.

• Kenneth Zuerblis started his job as senior vice president and CFO for ImClone Systems Incorporated on March 31. Zuerblis held the position of CFO at Enzon Pharmaceuticals for 11 years. At Enzon, Zuerblis played a key role in the company’s transition to a fully integrated biopharmaceutical company.

• Limco-Piedmont Inc. has appointed Carla Covey as its new executive vice president and CFO, replacing Shabtai Moshiashvili. The company did not state what Moshiashvili’s new role will be, but he will report to Covey. In her most previous role, Covey was a M&A consultant for the private venture capital firm TI Capital.

• Global storage solutions company Adaptec Inc. announced that Mary Dotz will oversee finance, replacing former CFO Christ O’Meara. Dotz, who was most recently CFO of Beceem Communications, will be responsible for managing finance, accounting, legal, investor relations, and information technology.

• Bruce Knooihuizen has joined IT provider Rackspace as its CFO. He leaves an 11-year career with the rural and suburban wireless company Dobson Communications Corporations, where he served as executive vice president and CFO. His new duties will include overseeing the financial and accounting functions, including investor relations.

• Matthew Loar is leaving his position as CFO for Osteologix to take the CFO role at Neurobiological Technologies Inc. Loar has been CFO at Osteologix since 2006. Before that he was CFO, vice president of finance and controller at Genelabs Technologies, where he worked for 11 years.

• One of the founding members of Buy.com will oversee the finances at GTX Corp as its CFO. Since he left Buy.com Murray Williams has been investing and creating new companies. He saw five companies through IPOs over the past seven years.

• Henry Lyons will take on the newly created role of CFO at GAIN Capital Holdings Inc. and will also become a standing member of the retail foreign exchange trader’s executive management team. Most recently, Lyons was senior vice president and CFO at ACI Worldwide. His responsibilities in his new role will be for financial reporting, strategic business planning and forecasting, corporate development, and investor relations.

• Marika Fredriksson has been appointed CFO and vice president of finance at Swedish automotive safety systems producer Autoliv. She has been senior vice president of finance and strategy at Volvo Construction Equipment in Belgium. Fredriksson replaces Magnus Lindquist, who is taking a position at a private-equity company.

• Dmitri Anismov has left Russian health food group Wimm-Bill-Dann Foods, where he was CFO for three years. The company says a replacement will be announced shortly.

• Nestle Espana, the Spanish subsidiary of the Swiss food giant, has promoted Juan Aranols to CFO. He will be replacing Enrique Grabulosa, who retired at the end of last year. Aranols previously held a senior finance role at Nestle in the Dominican Republic.

• The Swedish kitchen company Nobia has appointed Gun Nilsson to replace Jan Johansson as CFO. Nilsson is currently the president of Gambro Holding. Johansson is leaving Nobia after 12 years to fill the new position of CFO at Swedish renewable energy firm Morphic Technologies.

• Jonathan Turnbull will take on the new position of group CFO at U.K.-based insurance and reinsurance broker RFIB. Previously, Turnbull was CFO and COO of Bermuda-based reinsurance broker RK Carvill.

• Ole Heggheim, executive vice president of Norwegian shipbuilder Aker Yards, is to take on the additional role of CFO. He will replace CFO of six years Leif Borge.

• Ken Lever has been named CFO of the new Swiss semiconductor company Numonyx, a joint venture between Intel Corporation, STMicroelectronics and Francisco Partners. Lever was most recently the FD of UK-based engineering group Tomkins where he was replaced by John Zimmerman, the company’s vice president of corporate development.

• Jesus Perez de Uriguen, FD of Telefonica Centroamerica, will take up the finance director’s post at Telefonica O2 in the Czech Republic. De Uriguen replaces Ramon Ros who is moving to the company’s British unit to take over from Ronan Dunne who was promoted to CEO in February.

• Raffi Asadorian is replacing Ivan Mijatovic as CFO of Croatian pharmaceutical company Pliva. Asadorian joined Pliva as senior vice president in November. Mijatovic has been promoted to the new position of senior vice president of corporate development for parent company Barr Pharmaceuticals.

• CFO Rick McHattie has decided to leave U.K. financial market data provider Dealogic. The company has begun looking for a replacement.

• U.K. bingo and casino operator Rank Group has appointed Paddy Gallagher to replace FD Peter Gill. Gallagher is currently CFO of UK hotel entertainment provider Quadriga Worldwide.