CFOs on the Move (Europe): Week Ending April 10

Schneider Electric, Pernod Ricard, EADS, Fastweb, Invensys, Zurich Financial Services, Ten Cate, Xing, IBS
Jason KaraianApril 9, 2009

In July, Emmanuel Babeau will take over as CFO of French electrical equipment maker Schneider Electric. He replaces Pierre Bouchut, who is on his way to retailer Carrefour in May (see previous article). Babeau will join Schneider from drinks group Pernod Ricard. At Pernod Ricard, Gilles Bogaert will be promoted from deputy CFO to finance chief.

German auto giant Daimler said that it will propose its CFO, Bodo Uebber, as the new supervisory board chairman at aerospace group EADS, in which Daimler holds a 15% stake. Uebber will replace Rüdiger Grube, Daimler’s former head of corporate development. Grube was named CEO of transport company Deutsche Bahn earlier this month.

Italian telco Fastweb named Peter Burmeister as its new finance chief. He will take over the post in July from Mario Rossi, who joined Fastweb after its takeover by Swisscom in 2007. Rossi will return to Switzerland to work at the parent company.

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Wayne Edmunds will relocate from the US to the UK to take over as CFO of Invensys, a British industrial group. He will succeed Steve Hare, who is leaving the company at the end of May. Edmunds joins from Invensys’s US-based process systems unit. He previously spent time at Reuters and Lucent.

Patrick O’Sullivan will retire at the end of this month from Zurich Financial Services, after 11 years with the group. After serving as CFO for five years, he took up the role of chief growth officer in 2007.

Jan Wegstapel stepped down from the CFO post at Ten Cate, a Dutch materials group. His positions will be taken up by Jaap Lock, a former Ten Cate finance chief, until a permanent replacement is found.

Eoghan Jennings steps down at the end of this month as CFO of Xing, a German online business network. He will pursue “new business endeavors in the fields of venture capital and corporate finance,” the company said. A successor has not yet been named.

Swedish business software firm IBS welcomes Mark Williams as its new CFO. He replaces Lennart Bernard, who joined the company only two years ago. Williams joins from software-as-a-service provider Hubwoo.

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