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2022 CFO Departures and Arrivals

From BNY Mellon to Bed Bath & Beyond, McDonald’s to Tyson Foods, many companies saw changes in the CFO position last year.
Lauren MuskettDecember 30, 2022
2022 CFO Departures and Arrivals
Photo: Getty Images

Many finance chiefs left their posts over the last 12 months. Some joined new companies, others pursued new opportunities. Their places were taken, in some cases, by executives promoted to the top finance spot. Here are some of the more notable CFO departures (and arrivals) of the past 12 months.

Stephen Scherr | Hertz

Stephen Scherr, who was finance chief of Goldman Sachs until the end of 2021, took over as CEO of rental-car company Hertz in February. Scherr spent nearly three decades at Goldman, leading the Wall Street giant into consumer banking by building its Marcus division and launching AppleCard. 

Lorraine Burgess | BBC Studios

BBC Studios promoted Lorraine Burgess to finance chief in February. Burgess joined the British content company in July 2021 as interim chief financial officer. Before joining BBC Studios, she worked at the film, TV, and digital production company Green Door Pictures.

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Chris Suh | Electronic Arts

Video game maker Electronic Arts named former Microsoft executive Chris Suh as its new chief financial officer in March. Suh had been corporate vice president and CFO of Microsoft’s Cloud + AI group, a position he held since 2018.

  Sinead Gorman

Sinead Gorman | Shell

Shell promoted Sinead Gorman to chief financial officer in April. Gorman had been executive vice president of finance in the oil and gas company’s global Upstream business. She started her career as a civil engineer before beginning a finance career when she joined Shell in 1999.

Nelson Urdaneta | Kimberly-Clark

Nelson Urdaneta took over as CFO of Kimberly-Clark in April. Urdaneta joined the consumer products maker after nearly 17 years at Mondelēz International, where he was most recently senior vice president and treasurer. 

Travis Leonard | Hostess Brands

Travis Leonard became finance chief of snack company Hostess Brands in May. Leonard was previously CFO of the medical segment at Cardinal Health, where he led a global finance organization supporting its $16.7 billion medical products, distribution, and services business.

  Jennifer Biry

Jennifer Biry | McAfee

McAfee appointed Jennifer Biry as finance chief in June. Biry joined the security software company from media company WarnerMedia, where she took over the CFO chair in December 2020. Biry succeeded Venkat Bhamidipati. 

Dermot McDonogh | BNY Mellon

In July, Dermot McDonogh was named chief financial officer of BNY Mellon, effective February 1, 2023. McDonogh joins the bank from Goldman Sachs, where he was most recently chief operating officer for EMEA and CEO of Goldman Sachs International Bank. 

  Ian Borden

Ian Borden | McDonald’s

Ian Borden was promoted to chief financial officer of McDonald’s in September. Borden, who was most recently president of international, joined the fast-food chain in 1994. Borden succeeded Kevin Ozan.

Laura Crossen | Bed Bath & Beyond

Bed Bath & Beyond, in the aftermath of the death of CFO Gustavo Arnal, named Laura Crossen as interim CFO in September. Crossen has worked at the retailer for more than 20 years, most recently as chief accounting officer. 

Mike Maguire | Truist

Mike Maguire was promoted to finance chief of Truist in September. Maguire was most recently chief consumer finance and payments officer of the financial services company formed from the merger of SunTrust Bank and BB&T in 2019.

John R. Tyson | Tyson Foods

Tyson Foods promoted John R. Tyson, son of Tyson Foods chairman John H. Tyson, to chief financial officer in October. Tyson joined the company in 2019 and had been executive vice president of strategy and chief sustainability officer since October 2021. On Nov. 6, he was arrested in Arkansas after becoming intoxicated and waking in a home belonging to a woman he did not know. 

  Kim Jones

Kim Jones | Spanx 

Womenswear brand Spanx promoted its president and CFO, Kim Jones, to chief executive officer in October. Jones has a 15-year tenure with the company and was named CFO in 2016. Martin Elliott was named CFO to replace Jones. He joined the company in April from toy manufacturer MGA Entertainment, where he was CFO. 

Susan Li | Meta

Meta, Facebook and Instagram’s parent company, promoted Susan Li to CFO in November. Li was most recently vice president of finance of the social media company. Li replaced David Wehner, who took on a new role as the company’s first chief strategy officer.

Deborah Thomas | Hasbro

Hasbro finance chief Deborah Thomas announced her retirement in November after 24 years at the company. Before taking over as CFO in 2009, she was the company’s corporate comptroller and head of corporate finance. 

Jim Caltabiano | Del Monte

Food production and distribution company Del Monte hired Jim Caltabiano as its new CFO in December. He joins from Tokyo-based frozen food supplier Ajinomoto Foods North America, where he served as CFO as well.

Roland A. Caputo | The New York Times

Media conglomerate The New York Times announced the imminent departure of its CFO, Roland A. Caputo, in December. The executive vice president and CFO plans on retiring in 2023.