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CFOs on the Move: Week Ending May 16

MGM, Continental, Heelys, SonoSite, Occam, WesBanco, Walgreen, Integrated Silicon Solution, ABA, BearingPoint, Société Générale, UK Dept.Business, ...
Kate Plourd and Eila RanaMay 15, 2008

• MGM Studios has hired the former CFO of Gemstar-TV Guide International, Bedi Singh, as its finance chief. Singh also takes on the newly created position of president of finance and administration. In that role he is responsible for all financial activities, including the studio’s relationship with the banking and finance community and its strategic financial planning, as well as oversight of the human resources and information systems departments.

• Continental Airlines CFO and executive vice president Jeff Misner announced he will retire at the end of August. Replacing Misner, who has been in charge of the airline’s finances since 2001, is Zane Rowe. Rowe, a 15-year Continental veteran, currently is senior vice president for network strategy.

• Wheeled-shoe maker Heelys Inc. announced the resignation of CFO Mike Hessong to pursue other interests. Hessong had served as finance chief at the Carrollton, Texas-based company since December 2000. The company’s CEO resigned in February.

• Hand-held Ultra Sound maker SonoSite has appointed Bernard Pitz as to head finance. Mike Schuh, who held the position for eight years, was promoted to a newly created position overseeing business processes. Pitz was most recently vice president of finance, CFO, and treasurer for Sybron Dental Specialties.

• Jeanne Seeley will join Occam Networks, a broadband access network, as senior vice president and CFO. She started her career at Apple Computer, where she spent 16 years in roles that included vice president, corporate controller, and chief accounting officer. She then moved on to four different CFO positions, most recently at Access Co., Ltd.

• On May 21 Edward Sloane will take over the positions of CFO and treasurer of the financial services company Peoples Bancorp. Sloane was most recently senior vice president of strategic planning and analysis for WesBanco. He will replace Carol Schneeberger, the interim CFO since April 2007.

• Tyson Foods CFO Wade Miquelon has resigned to oversee finance at retail pharmacy Walgreen Co. Miquelon’s exit comes two years after he joined the meat company from Procter & Gamble. Tyson’s senior vice president and treasurer, Dennis Leatherby, will take over the CFO duties until a replacement is found. At Walgreen, where Miquelon will begin on June 16, CFO WIlliam Rudolphsen will become senior vice president and chief risk officer.

• John Cobb has been appointed CFO and vice president of finance and administration for Integrated Silicon Solution. He previously served as vice president of finance and administration for Power Integrations in San Jose, Calif.

• The American Bar Association has named Kenneth Widelka as its CFO starting June 2. His experience includes serving as CFO of the Polish National Alliance.

• Eileen Kamerick, former CFO of executive search firm Heidrick & Struggles, has accepted a position as CFO at the management and technology consulting firm BearingPoint. Kamerick also previously headed finance for BCOM3 Group. She replaces Judy Ethell, who will stay with the company through July.

• French financial services firm Société Générale, currently recovering from a rogue trader scandal, has named Didier Valet as its new CFO. Valet, who was formerly head of strategic performance management in the group’s finance and development division, replaces Frédéric Oudea, who was recently promoted to CEO.

• John Edwards, group finance director of British Nuclear Fuels (BNFL), will join the U.K. government’s Department for Business as director general, finance. Edwards, who has been finance chief of BNFL since 2000, will replace Mark Clarke, who leaves the department in June 2008 for a career break.

• Diethelm Sack, acting CFO of German state-owned railway Deutsche Bahn, has been appointed to head finance for DB Mobility Logistics, a new subsidiary comprising freight and passenger services that was set up as part of Deutsche Bahn’s proposed partial privatization. The German government has agreed to sell 29.4% of DB Mobility Logistics to private investors. Sack will retain his position at Deutsche Bahn alongside his new role.

• Delta Air Lines has appointed Graham Farhall has its regional finance director for the Atlantic and Pacific (Apac) regions. Based in Delta’s London office, Farhall is responsible for accounting, reporting, budgeting, forecasting, and capital across the 28 Apac countries Delta currently operates in. Farhall has 10 years’ airline industry experience with British Airways.

• Frans Eelkman Rooda, former CFO of OPG Group, the Dutch healthcare company, has been appointed finance chief of Wessanen, the Netherlands-based food group. Eelkman Rooda replaces Han Wagter, who is leaving to “pursue other interests,” the company said.

• Joakim Tilly has been promoted to CFO and senior vice president of Swedish Match, the Swedish tobacco company. Tilly, who had been senior vice president of group finance, replaces Lars Dahlgren, who moved up to CEO.

• Constantia Flexibles, part of Austrian packaging group Constantia Packaging, has named Marcus Pechlaner CFO. He moved over from the Austrian operations of Swiss industrial group Georg Fischer, where he had been CFO since 2001. Pechlaner replaces Hannes Hoellinger, who steps down in June at his own request.

• Dmitry Ivanov has been named CFO of Russia’s Wimm-Bill-Dann Foods. He was previously CFO of Sitronics, a Russian telecoms company. Sitronics has appointed deputy finance chief Maxim Zhukov as acting CFO while the company finds a replacement for Ivanov.

• TeliaSonera, the Nordic telecoms operator, has appointed Per-Arne Blomquist executive vice president and CFO. Blomquist, previously CFO at SEB, the northern European bank, joins the Telia Group for the second time. Between 1997 and 2000, he held various roles within the company, including managing director of Telia Företag. Blomquist replaces Kim Ignatius, who joins Finnish media company SanomaWSOY as CFO.