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CFOs on the Move: Week Ending April 22

Nasdaq OMX Group, Bank of America, Pegasus Solutions, Sonoco, Versar, Mindspeed Technologies, Titan Machinery, ICF International, Pacific Sunwear o...
Joan UrdangApril 22, 2011

Lee Shavel has been named to lead the finance function at Nasdaq OMX Group, effective May 23. He replaces principal accounting officer and controller Ronald Hassen, who has been serving as interim CFO. Most recently, Shavel was Americas head of financial institutions investment banking at Bank of America Merrill Lynch.

CFO Chuck Noski has been promoted to vice chairman at Bank of America Corp. He will be succeeded by Bruce Thompson, who has been promoted from chief risk officer. Thompson, who will take over from Noski by the end of the second quarter, will remain chief risk officer until a replacement has been found.

Pegasus Solutions has promoted Marcie Hyder to the top finance spot. Previously, she was controller at Pegasus, a provider of services and technology to the hotel and travel industries.

Packaging company Sonoco has promoted Barry Saunders to lead the finance function, effective May 1. Now corporate controller and chief accounting officer, Saunders will succeed Charles Hupfer, who is retiring.

Versar Inc. has named Cynthia Downes CFO and treasurer. She joins the project-management firm from Environmental Design International, where she also served as CFO.

Bret Johnsen has resigned as head of finance at semiconductor company Mindspeed Technologies, effective May 6. Kristen Schmidt, executive director, finance, will become interim CFO on that date.

Titan Machinery Inc. has promoted chief accounting officer Mark Kalvoda to the top finance spot. He replaces Peter Christianson, who will remain in his post as president/chief operating officer.

Ron Vargo, finance chief at consultancy ICF International,will leave the company on May 11 for personal reasons. Sandra Murray, senior vice president of administration and contracts, will be interim CFO until a permanent replacement for Vargo is found.

Pacific Sunwear of California has named Michael Kaplan as its new head of finance, effective May 2. He takes over from Mike Henry, who has held that post since January 2008. Kaplan joins the company from Harbor Freight Tools, where he was also finance chief; he previously served as vice president of financial planning and control at Disneyland.

Ray Verlinich has been promoted to the posts of CFO and vice president of finance at ESCO Corp., a designer and manufacturer of products for the mining and aerospace industries, among others. Verlinich, formerly corporate controller, succeeds Gene Huey, who will retire at year-end and will stay on as treasurer until then.