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CFOs on the Move: Week Ending May 23

Dell, PerkinElmer, Towerstream, Tween Brands, Rusoro Mining, Global Industries, Sepracor, Washington Post Co., Flextronics, Epicor, Home Federal Ba...
Kate Plourd and Eila RanaMay 22, 2008

• Longtime General Electric executive Brian Gladden will replace Don Carty as finance chief for computer maker Dell Inc. Carty will resign June 13 after just a after a year and a half on the job. Gladden most recently was president and CEO of SABIC Innovative Plastics Holding BV, formerly GE Plastics. He held various financial management positions at GE over 20 years including vice president and general manager of GE Plastics’ resin business, CFO of GE Plastics, and vice president and CFO of GE Medical Systems Healthcare IT.

• Jeffrey Capello, the finance chief for health sciences company PerkinElmer Inc., resigned to pursue another opportunity. The Waltham, Mass.-based company’s vice president and controller Michael Battles will take over as interim CFO on June 6. Capello had been CFO since January 2006.

• Wireless service provider Towerstream Corp. has named Joseph Hernon CFO as of May 30. He had been CFO of the public biotechnology company Aqua Bounty Technologies. Before that he served as CFO of Alseres Pharmaceuticals and as a senior business assurance manager at PricewaterhouseCoopers.

• The young-girl clothing company Tween Brands Inc. has named Rolando de Aguiar as its finance chief, taking over for Paul Carbone, who resigned this February. De Aguiar, who was most recently managing director of management consulting firm Abacus Advisors LLC, will take over on June 2.

• At Rusoro Mining, Matias Herrero was appointed vice president of finance and Gary Warnecke interim CFO, effective immediately. Herrero most recently was corporate controller for Pacific Rubiales Energy Corp. Warnecke has been serving as Rusoro’s internal audit chief.

• Offshore marine construction services company Global Industries Ltd. has promoted its vice president of finance and chief accounting officer, Jeffrey Levos, to CFO and senior vice president, effective May 27.

• After serving as CFO for the drug maker Sepracor Inc. for 14 years, David Southwell resigned to pursue other interests. His replacement is Robert Scumaci, the company’s executive vice president of corporate finance, administration, and technical operations. Southwell will remain as a consultant until year-end.

• John Morse Jr., finance chief and principal accounting officer of the Washington Post Co., said he will retire by year-end after 19 years at the company. A successor will be named shortly.

• Paul Read will take over as finance chief at Singapore-based electronics maker Flextronics International, replacing Thomas Smach, who will resign June 30. Read comes from the position of executive vice president of finance for Flextronics International.

• Michael Piraino, CFO at Irvine-Calif.-based Epicor Software Corp., has resigned. While a search for a replacement CFO has begun, the company also promoted Russell Clark from vice president of finance and corporate controller to senior vice president and principal accounting officer.

• Home Federal Bancorp, the holding company for Home Federal Bank, appointed Eric Nadeau executive vice president, treasurer, corporate secretary and CFO, starting June 5. Nadeau is currently CFO, senior vice president and treasurer for Advantage Bank, positions he’s held since 2006.

• Teresa Polley is the new president and chief operating officer of the Financial Accounting Foundation. She been serving those roles on an interim basis for a few months. She joined the Financial Accounting Standards Board in 1987.

• SEB, the northern European bank, has appointed Jan Erik Back as CFO and executive vice president. Back, previously CFO of Swedish electricity company Vattenfall, replaces Per-Arne Blomquist, who has joined TeliaSonera as finance chief.

• David Mellors, deputy CFO of U.K. technology company Logica, has been appointed CFO of Qinetiq, the U.K. defence and security technology firm. Mellors, who will take up his post at the end of August 2008, replaces Doug Webb, who is to become CFO of the London Stock Exchange.

• John Rogers, director of group finance at U.K. food retailer Sainbury’s, has been appointed property director. He replaces Peter Baguley, who has been named managing director of Sainsbury’s Property Investment, a new division set up to manage the company’s property assets. Baguley will report to CFO Darren Shapland.

• U.K. drinks company Nichols’ six-month search for a new group finance director has finally ended with the appointment of Taylor Purkis. Purkis, who was finance director of U.S. consumer goods firm Energizer’s European operations, replaces Brendan Hynes, who was promoted from FD to CEO last November.

• Stephen Cooke has been appointed finance director of Bestinvest, the U.K. financial services firm that manages funds in excess of £2 billion (US$4 billion). Until Cooke’s appointment, the finance function was run on an interim basis by Paul Truman, who remains with the firm. Cooke joins from Mapeley, the U.K. property investment and outsourcing company.

• Mark Donnelly, finance director of the O2, the London concert venue owned by AEG Europe, has been promoted to managing director and replaced by Alex Hill.

• Tech Data Italia — the Italian division of US IT distributor Tech Data Corporation — has named Barbara Biolcati as its new finance director. Biolcati, who joined Tech Data Italia five years ago, has been accounting and controlling manager at the company.