CFOs on the Move: Week Ending July 2

W.P. Stewart, FairPoint Communications, Applied Energetics, Outdoor Channel Holdings, Cousins Properties, Inergetics, Power Integrations, Ferro.
Joan UrdangJuly 2, 2010

Asset-management firm W.P. Stewart & Co. has appointed Mark Bergen as managing director-CFO and chief operating officer. He replaces managing director-CFO Susan Leber and managing director-COO Rocco Macri, who will be leaving the company. Most recently, Bergen was CFO and COO of AG Asset Management LLC, the asset-management subsidiary of Angelo, Gordon & Co., posts he had held since 2005.

FairPoint Communications Inc. has named Ajay Sabherwal as its new finance chief, effective July 19. He is a former CFO of Aventine Renewable Energy and of Mendel Biotechnology.

Humberto Astorga has been promoted to lead the finance function at Applied Energetics Inc. Astorga has been controller since 2006, and principal financial officer and principal accounting officer since last year.

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Outdoor Channel Holdings Inc., operator and owner of outdoor TV company Outdoor Channel, has named Tom Allen to head finance, effective July 16. He is the co-founder of ACME Communications Inc., where he has been CFO since the company began in 1997.

James Fleming will retire as CFO of Cousins Properties Inc. on December 31. Fleming, who has been at the firm since 2001, will stay on as a consultant after the new year to ensure a smooth transition. The company plans to begin a search for his replacement immediately.

Nutritional-supplement developer Inergetics Inc. has appointed Michael James its new finance chief. James, who has been a member of the company’s board of directors since September, is a former chief executive officer of Nestor Inc.

Power Integrations Inc., a provider of high-voltage analog integrated circuits, has named Sandeep Nayyar to the top finance spot. Previously, he was vice president of finance at Applied Biosystems Inc.

Thomas Miklich has been named CFO of Ferro Corp., which supplies technology-based performance materials to manufacturers. Miklich, who replaces Sallie Bailey, is a former CFO of The Sherwin Williams Co. and of Titan Technology Partners.