CFOs on the Move: Week Ending October 30

Motorola, Nissan Motor, The Andersons, Aviva, Nokia, United Rentals.
David McCannOctober 29, 2009

Ed Fitzpatrick, a senior vice president at Motorola Inc., has been appointed chief financial officer after having served as acting CFO since February and corporate controller since January. The company credits him with driving significant cost reductions and focusing the company on working capital and cash-flow improvements. Previously, he served as corporate vice president of finance for Motorola’s Home & Networks Mobility business. He had been assistant corporate controller at General Instrument Corp. before Motorola acquired that company in 2000.

Nissan Motor Co. has hired General Motors veteran Joseph Peter to replace Alain Dassas as CFO. Peter was with GM for 25 years, most recently as finance chief for international operations. Dassas, who was sent to Nissan from its French partner Renault SA in 2007, will return to France and keep working on special projects for the alliance, Nissan officials said.

Agribusiness and retailing firm The Andersons Inc. has appointed Nicholas Conrad as vice president, finance, and treasurer, effective November 1. He will replace Gary Smith, who is retiring after 29 years with the company. An employee of The Andersons since 1984, Conrad has served as assistant treasurer since 1995.

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London-based insurance company Aviva plc has named Patrick Regan as CFO, replacing Philip Scott, who will step down at year-end after 36 years with the company. Regan, who will take up his post in February, is moving from Willis Group Holdings, where he is group chief operating officer and CFO.

Mobile-phones powerhouse Nokia announced the replacement of its CFO, a day after reporting its first quarterly loss in a decade. The new finance chief starting November 1 will be Timo Ihamuotila, who has been with the company since 1993 in various roles, including corporate treasurer and portfolio manager of global sales and services. Outgoing CFO Rick Simonson will stay with the company as head of the mobile-phones division.

John Milne, former president and CFO of United Rentals, has pleaded guilty to falsifying the company’s books and records. Sentencing is scheduled for February, but under a plea deal he is expected to get a 27-month prison term and a $250,000 fine. He already had agreed to pay $6.25 million to the Securities and Exchange Commission.


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