CFOs on the Move: Week Ending August 22

Biovali Corp., VeriFone Holdings Inc., Allstate Corp., Golden Star Resources, The Corporate Executive Board, NexCen Brands, YRC Worldwide, EMCORE, ...
Kate PlourdAugust 21, 2008

• Canadian drugmaker Biovail Corp., charged this year by the Securities and Exchange Commission with revenue reporting violations, announced the appointment of a permanent CFO, effective Sept. 3. She’s Peggy Mulligan, named to succeed interim finance chief Adrian De Saldanha, who has served in the role since March.

• VeriFone Holdings Inc. appointed Clinton Knowles as its interim chief financial officer, the same day it filed its long-awaited restatements to correct accounting errors.

• Allstate Corp. has snagged Office Max CFO Don Civgin to serve as its nce chief. Civgin will take over for acting CFO Sam Pilch, who is also the company’s controller and group vice president, on September 8. Before his three years at Office Max, Civgin was CFO during General Binding Corporation’s turnaround.

• John Labate has been named senior vice president and CFO of Denver-based mining company Golden Star Resources Ltd. The mining industry is not new to Labate, who previously ws CFO for Constellation Copper Corporation and Crown Resources Corporation.

• The Corporate Executive Board’s CFO, Timothy Yost, announced he is leaving the research company to take the same title at Clark Construction Group. Yost will start his new position, based in Bethesda, Maryland, on September 5. Until CEB finds a replacement, its managing director of financial planning and analysis, Joyce Liu, will handle Yost’s responsibilities.

• Troubled NexCen Brands Inc. said its executive vice president, treasurer, and CFO, Kenneth Hall, will move up to replace CEO Robert D’Loren, who resigned. The news sent the company’s stock surging by 40 percent to $0.49 on Monday, the first day shares traded after the personnel moves were announced.

• YRC Worldwide has appointed Paul Liljegren interim CFO, replacing Stephen Bruffett, who quit to join another company. Liljegren will continue as the company’s vice president, controller, and chief accounting officer.

• John Markovich has been named CFO of the semi-conductor component company Emcore Corporation. He replaces interim CFO Adam Gushard, who will remain with the company as vice president of finance. Markovich’s most previous role was executive vice president and CFO of Energy Innovations, a solar energy company.

• Seattle-based Jones Soda Co. has hired Michael O’Brien as its CFO, effective September 2. In a 20-year career O’Brien has gathered financial experience at both private and public companies, including Pyramid Breweries, where he served as CFO and vice president of finance. He also held CFO positions at Medisystems Corp., Flow International, Alistar Manufacturing, and Tempress Inc. O’Brien replaces Hassan Natha, who is moving on to pursue other opportunities.

• JetBlue Airways has elected the CFO of German carrier Lufthansa to its board of directors. Stephan Gemkow has been with Lufthansa since 1990. The German company owns a 19 percent stake in JetBlue.

• Jake Brace, CFO of United Airlines’ parent UAL Corp., announced plans to retire on Nov. 1. Replacing him will be Kathryn Mikells, currently the company’s vice president of investor relations. Brace joined UAL in 1988 and has been CFO since 2001. Mikells started as a financial analyst in 1994.

• Digital marketing agency AKQA has named Lester Feintuck as its CFO. Most recently Feintuck was CFO and executive vice president of Grey Group’s advertising division. He joined Grey in 1983.