CFOs on the Move (Europe): Week Ending March 27

Deutsche Börse, JJB Sports, Funcom, Enea
Jason KaraianMarch 27, 2009

Thomas Eichelmann unexpectedly quit the CFO post at Deutsche Börse, the stock exchange operator, after only two years. The company explained his departure as due to “partial differences concerning individual business aspects.” CEO Reto Francioni will take over Eichelmann’s financial duties until a successor is found. The outgoing CFO was credited with a successful cost-cutting drive that led to record-setting annual net income of more than €1 billion last year.

Beleaguered British sports retailer JJB announced the resignation of finance director David Madeley and detailed the termination of chief executive Chris Ronnie in January as related to reasons of “gross misconduct.” Ronnie’s large stake in the company was seized by administrators of collapsed Icelandic bank Kaupthing. The company is now in negotiations with landlords on rent payments and recently sold its health chain business to former chairman Dave Whelan, who will rebrand the gyms and adjoining shops DW Sports. Executive director Peter Williams will take on finance duties at JJB until a replacement for Madeley is found.

Norwegian video game maker Funcom will welcome Bjørn Toften as CFO in May. A tax and restructuring specialist, Toften served as an associate judge on accounting and tax matters at a district court after working at BDO for ten years. Olav Sadnes, Funcom’s previous finance chief, will take over as CFO of publishing house Hjemmet Mortensen in August.

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Swedish software firm Enea named Lars Kevsjö as its new CFO, filling a post left vacant since May. Currently finance chief at network equipment maker Net Insight, he will join Enea “no later than the beginning of September,” the company said.

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