CFOs on the Move: Week Ending June 6

Marsh & McLennan, Monotype Imaging, Speedway Motors, Calpine, Silvermet, CapSource, Intelstat, LegalZoom, Etrials, Nisource, Unilever, SGL Carbon, ...
Kate Plourd and Eila RanaJune 5, 2008

• After serving two years as CFO for March & McLennan Companies, Matthew Bartley resigned. He took on the role in 2006, after serving as vice president and treasurer since 2001. The company did not say why Bartley is leaving or what he plans to do next. He will stay with the company until it finds his replacement.

• Text imaging solutions company Monotype Imaging Holdings has hired Scott Landers as its senior vice president and CFO. Landers, most recently vice president of global finance at Pitney Bowes, will start on July 1.

• Speedway Motors’ longtime CFO and treasurer, Bill Brooks, has been promoted to vice president of the Concord, N.C.-based company that markets and promotes motor sports entertainment. Brooks joined Speedway in 1994 as vice president, CFO, and treasurer. In 2004, he was promoted to executive vice president.

• Zamir Rauf was appointed interim CFO for Calpine Corporation, taking over for another interim finance chief, Lisa Donahue, who has held the position since November 2006. Rauf was formerly senior vice president of finance and treasurer for the energy company. He’s worked at Calpine since 2000.

• Exploration and development company Silvermet Inc. announced that Rein Lehari will take on the CFO position. Lehari replaces Douglas Scharf, who resigned as CFO but will act as a consultant on a project in Turkey. Lehari is a former director of the Canadian Institute of Chartered Business Valuators.

• John Ramos has been appointed CFO of CapSource Financial. He had been a management consultant with Centennial Business Solutions. He has more than 15 years of domestic and international finance experience, including an advisory role for Qwest Communications in its expansion into Asia and a stint as CFO for a Hong Kong-based media business.

• Fixed satellite services provider Intelstat Ltd. announced that CFO Jeffrey Freimark is stepping down from his position on June 5 to pursue other opportunities. CEO David McGlade will oversee finances until a permanent replacement is found.

•, the online legal document and filing service, named Fred Krupica as its CFO, responsible for leading finance and corporate development. Krupica previously helped Altra Inc. through its start-up and development phase. He was also CFO for Fastclick Inc.

• Etrials Worldwide’s James Clark Jr. resigned as CFO, treasurer, and secretary on May 31. While the company searches for a replacement, corporate controller and finance vice president Joseph (Jay) Trepanier III has taken over Clark’s CFO and secretary duties.

• NiSource Inc. has appointed Stephen Smith as CFO, starting in early August. Smith, who came to the company on June 1 as executive vice president, will take over for Michael O’Donnell, who announced his plan to step down from the CFO chair this year. Most recently Smith served as senior vice president for Shared Services for American Electrical Power Co.

• Unilever, the Anglo-Dutch consumer goods group, has named Philip de Klerk vice president of finance for its Benelux operations. De Klerk replaces Stephanie Schmitz, who was originally chosen for the job but turned it down for “personal reasons,” industry press quoted a Unilever spokesman as saying. De Klerk, who has been with Unilever for 16 years, moves from a similar position in the group’s Swiss unit.

• Jürgen Muth has been appointed CFO of SGL Carbon, a German manufacturer of carbon-based products. He replaces Sten Daugaard, who is leaving to “fulfill family commitments,” according to a company statement. Muth joined SGL Group in 2005 and was most recently responsible for controlling and business administration in the company’s Graphite Materials and Systems division.

• Stefan Ermisch, former chief operating officer of the global investment banking division of UniCredit, the Italian bank, has been tapped as CFO and COO of BayernLB, the German state bank. CEO Michael Kemmer has doubled up as finance chief since he joined the bank in March 2008.

• Brussels Airlines has promoted CFO Michel Meyfroidt to joint managing director following the departure of CEO Philippe Vander Putten, who stepped down over disagreements with the board about a management restructure. Meyfroidt, who will retain responsibility for finance, will be joint MD with Bernard Gustin, who joins the airline from consulting firm Arthur D. Little.

• Ronald Latenstein van Voorst, CFO of Dutch banking and insurance company SNS Reaal, has been promoted to chairman. He will succeed Sjoerd van Keulen in April 2009 at the latest, by which point the company hopes to have appointed a new finance chief.