Companies with CFOs on the Move this week include: BIOREM Inc., Xtreme Coil Drilling Corp., Emera Inc., Columbus Gold Corporation, Canada Gas Corp., ArcelorMittal Mines Canada, Cangene Corporation, Jomar Capital Corp., DirectCash Payments Inc.
BIOREM Inc. (TSX-V: BRM) announced that Robert Wood has been appointed as Chief Financial Officer of the Company. Before joining Biorem, Mr. Wood served as the CFO of Trojan Technologies, a leading global water treatment technology company. Mr. Wood also held positions of progressive responsibility in the field of financial management as a management consultant in France and at Weston Bakeries Ltd. in Toronto, Ontario.
Xtreme Coil Drilling Corp. (TSX: XDC) announced the appointment of Dale W. Wilhelm as chief financial officer, replacing Elizabeth T. Wilkinson. Most recently, Mr. Wilhelm provided senior management consulting services to two large independent North American drilling contractors. From 2002 until 2007 he held increasingly senior roles with TODCO in Houston, Texas and fulfilled the role of vice president and chief financial officer from 2005 forward.
Emera Inc. (TSX: EMA) announced that effective May 1, 2011, Nancy Tower, presently the Executive Vice President and Chief Financial Officer of Emera and Nova Scotia Power Inc., will assume the role of Executive Vice President, Business Development for Emera Inc. In addition to overall responsibility for business development, Ms. Tower will also oversee the Emera partnership with Nalcor Energy including the execution of the Lower Churchill Project as the CEO, Emera Newfoundland and Labrador. Ms. Tower, a Fellow Chartered Accountant, joined Nova Scotia Power in 1997 and has held senior positions in the company in Corporate Finance and Operations, including Controller and Vice President of Customer Operations. Ms. Tower serves on the Boards of a number of Emera investments including Bangor Hydro Electric Company, ICD Utilities, Brunswick Pipeline and Atlantic Hydrogen. Prior to joining Emera, Ms. Tower worked with Grant Thornton, A.I. Tower and Ernst and Young. Ms. Tower is currently serving on the Board of Directors of Nova Scotia Business Inc., as well as, the Advisory Council of the Dalhousie University Corporate Residency MBA Program. She is a past member of the Board of Trustees of the QEII Foundation, and the Board of Directors of CAA Atlantic. She is the former Chair of the Nova Scotia Institute of Chartered Accountants and a graduate of Dalhousie University. Emera will begin an immediate search for a new CFO.
Columbus Gold Corporation (TSX-V: CGT) announced the appointment of Akbar Hassanally as its Chief Financial Officer, replacing Sean McGrath. Early in his career, Mr. Hassanally audited junior mining companies at KPMG in Vancouver. Since 1995, he has been engaged as a mergers and acquisitions advisor, including on Wall Street with Credit Suisse First Boston and JP Morgan Chase, where he was responsible for conducting financial analysis and executing merger transactions in a variety of industries, including metals and mining.
Canada Gas Corp. (TSX-V: CJC; OTC-BB: CJCFF; FSE: YXEN) appointed Kelsey Chin as Chief Financial Officer of the Company. Ms. Chin has over 7 years experience in audit, finance and accounting within the mining and exploration industry. As an Executive Officer of TintinaGold Resources Inc. and AsiaBaseMetals Inc., Ms. Chin was involved with numerous financings and spin out transactions and was responsible for all aspects of financial services, financial reporting, and corporate governance. She holds a Bachelor of Commerce degree and is currently completing her CGA designation.
K+S Canada Holdings Inc. announced that as part of its acquisition of the majority of othe common shares of Potash One Inc. all of the existing directors and senior officers of Potash One resigned in accordance with the Support Agreement. Luis E. Mendoza, Vice President of K+S North America will serve as Chief Financial Officer of Potash One.
ArcelorMittal Mines Canada announced that Benoit Alain, formerly Vice-President, Commercial and Business Development, and also in charge of Sales and Marketing for the ArcelorMittal Group’s entire mining sector, has been appointed Vice-President and Chief Financial Officer. Mr. Alain occupied similar functions at ArcelorMittal Montreal Inc. from 2002 to 2008 before joining ArcelorMittal Mines Canada.
Cangene Corporation (TSX: CNJ) announced that Dr. John Langstaff, President and CEO of Cangene Corporation, has advised the Board of Directors ("Board") of the Company of his intention to step down from his current role after serving in this position for more than 20 years. Effective immediately, Dr. Langstaff resigns from his position as President and CEO, and from the Board of Directors, but will continue as a special advisor to the Company. The Board has initiated a search for a successor to Dr. Langstaff, and in the meantime, has appointed Michael Graham, the current CFO of the Company, as acting President and CEO.
Jomar Capital Corp. (TSX-V:: JOE.P) announced that as part of the completion of its previously announced business combination with Online Energy Inc., Thomas Love has been named as Chief Financial Officer.
DirectCash Payments Inc. (TSX: DCI) announced that it has promoted Claudette M. Dick as CFO for DirectCash Payments Inc. as well as the various other limited partnerships, partnerships, corporations, and subsidiaries that are part of the DirectCash group (collectively referred to as "DirectCash"). DirectCash's current CFO, Hendrik J. Lombard has accepted a position with another company. Ms. Dick recently returned from maternity leave and brings with her experience as Vice President of Finance (from September 2010 to January 2011) and prior thereto as Controller (from May 2004 to July 2009) at DirectCash.
If you have news about CFOs on the move, or any comments on this feature, please email us.
Sunday, January 30, 2011
Thursday, January 27, 2011
Don’t leave your job without it.
There are many things we leave behind when going to our next career opportunity – our colleagues and team, our comfortable chair, and if we’ve been lucky enough to have it to begin with, perhaps even the company car.
I was fortunate enough to interview a CFO candidate recently that told me a great story about how he got his next CFO role. In leaving a previous CFO role, he cancelled his cell phone contract, and took a well deserved vacation for a few weeks. When he was ready to get back to his job search, he went to get a new cell phone. Luckily for him, the cell phone provider gave him options to choose his new number, and one of the choices was his old phone number, which he took without giving it much thought.
A week later his phone rang, and it was someone he once networked with a year ago that called him with a potential career opportunity that led to his next successful role.
Thankfully for this CFO, he was able to get his old cell phone number back.
What lessons can you learn from this story?
1. When starting a new role, have your company pay for your cell phone plan, but you should own and keep the number.
2. Make sure that when you leave your employer, if you don’t own the phone number, make sure you negotiate to take it with you.
3. Put your cell phone number on your business card. You never know who may want to reach you when you are no longer at the company.
Is there anything else you should not leave your job without?
I was fortunate enough to interview a CFO candidate recently that told me a great story about how he got his next CFO role. In leaving a previous CFO role, he cancelled his cell phone contract, and took a well deserved vacation for a few weeks. When he was ready to get back to his job search, he went to get a new cell phone. Luckily for him, the cell phone provider gave him options to choose his new number, and one of the choices was his old phone number, which he took without giving it much thought.
A week later his phone rang, and it was someone he once networked with a year ago that called him with a potential career opportunity that led to his next successful role.
Thankfully for this CFO, he was able to get his old cell phone number back.
What lessons can you learn from this story?
1. When starting a new role, have your company pay for your cell phone plan, but you should own and keep the number.
2. Make sure that when you leave your employer, if you don’t own the phone number, make sure you negotiate to take it with you.
3. Put your cell phone number on your business card. You never know who may want to reach you when you are no longer at the company.
Is there anything else you should not leave your job without?
Tuesday, January 25, 2011
You’ve been a CFO for a long time. What’s next?
As a CFO with many years of experience, you certainly have seen a lot in your career. If you are a CFO and have been working for over 30 years, the thought of ‘What’s next’ certainly enters into your thoughts, not to mention the thoughts of your family members. You’ve worked hard all your life and would like to slow down the pace a notch, but you don’t want to give up the challenges you need to feel the personal satisfaction that has driven you throughout your career.
Here are some options to consider:
While you may like these ideas as options, your next Question is: “So how do I find these opportunities?” The same way you find other opportunities – network and build your personal brand while adding value to those around you. Consider which option would suit you best and let people know what you are looking for.
Here are some options to consider:
Taking a CEO position: I can hear you say ‘I thought you said this would help me slow down the pace a notch? Becoming CEO would be more stressful, not less.’ What I am advocating for is for you to consider only those roles where being CEO would call on your talents and abilities, but have you manage a team of people to get the details done – your role would be the Quarterback. Think about it – Have you ever thought that the CEO you worked for had a less stressful job than you? Of course you have. Now it’s your turn. (Read from CFOZone: Prepping to become CEO: How CFOs can become CEO)
Become a Board Member: There is a high demand for people with your talent on Boards of Directors. According to Deloitte’s Corporate Governance Webcast: CFOs on Boards, a CFO can expect to spend 250 hours a year in time commitment to a Board of Directors. While this Webcast was more for a currently employed CFO sitting on the Board of Directors of another company, a lot of the advice still applies in this situation. Experienced CFOs with a few Board positions have the flexibility they want with the challenges they need, and the compensation is good too.
Those that can, work. Those that can’t, Consult? If you are getting ready to slow down a bit, it might be a good time to hang up a shingle and call yourself a Consultant. The word Consultant has been used by many professionals in between jobs as a euphemism for their lack of employment. But this does not have to be the case. We have seen (and helped) many Senior Finance Executives in between opportunities find contractual roles that allow them to keep busy, earn good pay, and have a level of flexibility they have never had. Making a career move to Consulting has been a good move for many experienced CFOs.
Help build a Start up: With all the experience you have, wouldn’t it be great to be involved with creating a real business out of an idea? There are many entrepreneurs, young and not so young, that have a great idea, are fabulous at the technical, the marketing, or both, but have little understanding as to what the mechanics of finance and administration are. They need help with financing the company, managing cash flow and all the other good things necessary to make a great idea or great product into a great company. Combining your strengths with amazing ideas and talent could be the best thing that ever happened to you in your career. Isn’t it time to have some fun?
While you may like these ideas as options, your next Question is: “So how do I find these opportunities?” The same way you find other opportunities – network and build your personal brand while adding value to those around you. Consider which option would suit you best and let people know what you are looking for.
Sunday, January 23, 2011
Canadian CFOs on the Move - week ending January 21, 2011
Companies with CFOs on the Move this week: OSI Geospatial Inc., Pason Systems Inc., Sirios Resources Inc., Look Communications Inc., AbitibiBowater, Mercator Minerals Ltd., Meadow Bay Capital Corporation, Southern Arc Minerals, Rare Earth Metals Inc., Portfolio Entertainment, Norsat International Inc., Vecta Energy Corporation, High River Gold Mines Ltd., Ontario Lottery and Gaming Corporation, Entrée Gold Inc., Canada Gold Corporation, Nesscap Energy Inc., Redline Communications Group Inc.
OSI Geospatial Inc. (TSX: OSI) announced the appointment of Jim Girard as Vice President Finance and Secretary of the Company. Mr. Girard joined OSI Geospatial in 2008 as Director of Finance, and, in 2010, he was promoted to Vice President Corporate Development. Mr. Girard takes over from John Sentjens who has decided to pursue new opportunities and will continue working with the Company through a transition period.
Pason Systems Inc. (TSX: PSI) announced the appointment of David Elliott to the position of Chief Financial Officer (CFO). For the past 4 years, Mr. Elliott has been at Pason in the role of Corporate Treasurer. Prior to joining Pason, David was the Treasurer for United Farmers of Alberta, which is the largest retail co-operative in Canada. He has also held senior finance positions with Canada Safeway and Turbo Resources.
Sirios Resources Inc. (TSX-V: SOI) appointed Frederic Sahyouni as Chief Financial Officer and secretary of the company. For nearly three years, Sahyouni has acted as assistant to the president of Sirios, handling, among other things, the company's finances and investor communications.
Look Communications Inc. (TSX-V: LOK, LOK.A) announced that C. Fraser Elliott has been appointed as the Chief Financial Officer of the Company to replace interim Chief Financial Officer, Mr. McCutcheon. Since 1987, Mr. Elliott has been the president of CFE Financial Inc., a private investment banking company. In addition, from Jan. 1, 2005, Mr. Elliott was chief financial officer of Tangarine Payment Solutions Corp. Mr. Elliott was involved in both the listing on the TSX Venture Exchange in 2005, and the subsequent successful sale of the business in 2009. Mr. Elliott is also the executive chairman of the board of directors of Gowest Amalgamated Resources Ltd. and a director of Sylogist Inc., which companies are both listed on the TSX Venture Exchange.
AbitibiBowater (TSX: ABH, NYSE: ABH) announced the selection of a new Executive Team, including William G. Harvey, Senior Vice President and Chief Financial Officer. Mr. Harvey served most recently as Executive Vice President and Chief Financial Officer for AbitibiBowater Inc. He previously was Senior Vice President and Chief Financial Officer of the Company from October 2007 to July 2009. Mr. Harvey served as Executive Vice President and Chief Financial Officer of Bowater Incorporated from August 2006 to October 2007, and as Senior Vice President and Chief Financial Officer and Treasurer of Bowater from 2005 to 2006.
Mercator Minerals Ltd. (TSX: ML) announced the appointment of Mark W. Distler as Chief Financial Officer of the Company. Mr. Distler possesses senior-level financial executive experience, including positions with publicly listed mining companies, Frontera Copper Corporation and Freeport-McMoRan (Phelps Dodge Corporation). Mr. Distler holds both a Bachelor of Science in Accounting and has been a Certified Public Accountant since 1989. Mr. Distler takes over from Raymond R. Lee, who has been with Mercator since 2000 serving as a Director since 2000 and as its CFO from 2002 to present, and was one of the founders of the Company. Mr. Lee is retiring from the position of CFO but will continue as an advisor to the company and remains on the Board of Directors.
Meadow Bay Capital Corporation (TSX-V:MAY) announced the appointment of Robert Dinning as Chairman and interim CEO. Mr. Dinning has over 40 years of experience specializing in the junior mining industry. Mr. Dinning is currently Chairman of Paramount Gold and Silver Corp (NYSE/TSX:PZG) operating in Mexico (San Miguel) and Nevada (Sleeper Gold Mine) and also serves as Chief Financial Officer of ATAC Resources Ltd. (TSX-V:ATC).
Southern Arc Minerals (TSX-V: SA) announced the addition of Brian Richardson as Chief Financial Officer, replacing Cyrus Driver who was interim CFO. Mr. Richardson, has over 20 years experience as a CFO and has held senior financial positions for a number of public and private companies. Brian previously worked for Ernst & Young in Toronto and in Hong Kong.
Rare Earth Metals Inc. (TSX-V: RA) announced that Evan Asselstine has been appointed Chief Financial Officer for the Company. Mr. Asselstine is the CFO for Benton Resources Corp and the Controller for Metals Creek Resources Corp.
Portfolio Entertainment appointed Lorraine Rotz to the newly created position of VP Finance. Rotz has held senior financial management positions in Canada and abroad. As Director of Finance at MDS Capital Corp., a leading venture capital company with $1 billion under management, her responsibilities included all aspects of management and shareholder reporting. Most recently, she was Vice President Finance for a leading automotive solutions group, and has held senior positions at Consumers Gas (now Enbridge Inc.) and Ernst & Young in both Toronto and London, England.
Norsat International Inc. (TSX: NII, OTCBB: NSATF), announced that it has appointed Arthur Chin as its new Chief Financial Officer. Mr. Chin succeeds Trevor Greene, who has left the Company to pursue other opportunities. Mr. Chin will take office on February 1, 2011. Mr. Chin was previously with Norsat between 2002 and 2005 and was the Company’s Corporate Controller. Prior to rejoining Norsat, he held senior financial positions mostly in the high technology industry with DDS Wireless International Inc., a TSX listed company that provides wireless mobile data solutions and Ascalade Communications Inc.
Vecta Energy Corporation (TSX-V: VER) announced the appointment of Diane M. Zuber as Vice President Finance and Chief Financial Officer. Ms. Zuber brings a broad range of experience to her new role. She was Senior Financial Analyst at Kinnear Financial Limited; and prior thereto was Manager, Investor Relations at AltaGas Income Trust; Senior Analyst, Business Development at Pengrowth Management Limited; Investor Relations Analyst PrimeWest Energy Trust; Account Manager, Energy Banking, Syndications at ATB Financial; and Financial Analyst, Energy Banking at the Royal Bank of Canada.
High River Gold Mines Ltd. (TSX: HRG) announced the appointment of Yury Lopukhin as Chief Financial Officer and Director of the Company. Mr. Lopukhin currently holds the position of Senior Financial Manager at Severstal Gold LLC, a subsidiary of OAO Severstal. OAO Severstal is one of the world's leading integrated steel and mining companies with listings in Russia and on the London Stock Exchange. Mr. Lopukhin has previously held the position of Chief Financial Officer at OJSC Buryatzoloto. Prior to that, he held the positions of Senior Manager of Strategy at Severstal Resources and Consultant at Russian Investors.
Ontario Lottery and Gaming Corporation appointed Preet Dhindsa as Executive Vice President, Chief Administrative Officer and Chief Financial Officer.
Entrée Gold Inc. (TSX: ETG; NYSE AMEX: EGI; Frankfurt: EKA) announced that it has appointed Bruce Colwill as its Chief Financial Officer effective February 1, 2011. Most recently, Mr. Colwill served as Chief Financial Officer of Transeuro Energy Corp., a public oil and gas company. Between 2001 and 2009, Mr. Colwill served as Chief Financial Officer of Neuromed Pharmaceuticals Ltd. Hamish Malkin will step down from the position of CFO effective January 31, 2011, although he will continue to provide consulting services during a transition period.
Canada Gold Corporation (TSX-V: CI, Frankfurt: T9N, OTC-BB: CNGZF) announced that it has appointed Kelsey Chin as Chief Financial Officer of the Company. Ms. Chin has over 7 years experience in audit, finance and accounting within the mining and exploration industry. As an Executive Officer of TintinaGold Resources Inc. and AsiaBaseMetals Inc., Ms. Chin was involved with numerous financings and spin out transactions and was responsible for all aspects of financial services, financial reporting, and corporate governance.
Nesscap Energy Inc. (TSX-V: NCE), formerly Asian Resource Global Strategies Inc. ("Asian Resource"), is pleased to announce that it has completed its previously announced qualifying transaction (the "Qualifying Transaction") with Nesscap, Inc. ("Nesscap"). Following the completion of the Qualifying Transaction, Paul Haber will be the Interim Chief Financial Officer. Mr. Haber is the Managing Director of Haber & Co. Ltd. which provides corporate finance and capital market advisory services to small and medium-sized businesses. From 2004 through March 2007, Mr. Haber was Vice President, Chief Financial Officer and Corporate Secretary of QuStream Corporation. From 2001 to 2004, Mr. Haber held various positions including Senior Vice President and Chief Financial Officer of Protana Inc.
Redline Communications Group Inc. (TSX: RDL), announced that Bruce MacInnis, Redline's CFO, will be leaving the Company. His departure date is anticipated to be April 30th, 2011. Bruce joined Redline in May 2010 and has been instrumental in guiding the Company through a complex period of financial restatements.
If you have news about CFOs on the move, or any comments on this feature, please email us.
OSI Geospatial Inc. (TSX: OSI) announced the appointment of Jim Girard as Vice President Finance and Secretary of the Company. Mr. Girard joined OSI Geospatial in 2008 as Director of Finance, and, in 2010, he was promoted to Vice President Corporate Development. Mr. Girard takes over from John Sentjens who has decided to pursue new opportunities and will continue working with the Company through a transition period.
Pason Systems Inc. (TSX: PSI) announced the appointment of David Elliott to the position of Chief Financial Officer (CFO). For the past 4 years, Mr. Elliott has been at Pason in the role of Corporate Treasurer. Prior to joining Pason, David was the Treasurer for United Farmers of Alberta, which is the largest retail co-operative in Canada. He has also held senior finance positions with Canada Safeway and Turbo Resources.
Sirios Resources Inc. (TSX-V: SOI) appointed Frederic Sahyouni as Chief Financial Officer and secretary of the company. For nearly three years, Sahyouni has acted as assistant to the president of Sirios, handling, among other things, the company's finances and investor communications.
Look Communications Inc. (TSX-V: LOK, LOK.A) announced that C. Fraser Elliott has been appointed as the Chief Financial Officer of the Company to replace interim Chief Financial Officer, Mr. McCutcheon. Since 1987, Mr. Elliott has been the president of CFE Financial Inc., a private investment banking company. In addition, from Jan. 1, 2005, Mr. Elliott was chief financial officer of Tangarine Payment Solutions Corp. Mr. Elliott was involved in both the listing on the TSX Venture Exchange in 2005, and the subsequent successful sale of the business in 2009. Mr. Elliott is also the executive chairman of the board of directors of Gowest Amalgamated Resources Ltd. and a director of Sylogist Inc., which companies are both listed on the TSX Venture Exchange.
AbitibiBowater (TSX: ABH, NYSE: ABH) announced the selection of a new Executive Team, including William G. Harvey, Senior Vice President and Chief Financial Officer. Mr. Harvey served most recently as Executive Vice President and Chief Financial Officer for AbitibiBowater Inc. He previously was Senior Vice President and Chief Financial Officer of the Company from October 2007 to July 2009. Mr. Harvey served as Executive Vice President and Chief Financial Officer of Bowater Incorporated from August 2006 to October 2007, and as Senior Vice President and Chief Financial Officer and Treasurer of Bowater from 2005 to 2006.
Mercator Minerals Ltd. (TSX: ML) announced the appointment of Mark W. Distler as Chief Financial Officer of the Company. Mr. Distler possesses senior-level financial executive experience, including positions with publicly listed mining companies, Frontera Copper Corporation and Freeport-McMoRan (Phelps Dodge Corporation). Mr. Distler holds both a Bachelor of Science in Accounting and has been a Certified Public Accountant since 1989. Mr. Distler takes over from Raymond R. Lee, who has been with Mercator since 2000 serving as a Director since 2000 and as its CFO from 2002 to present, and was one of the founders of the Company. Mr. Lee is retiring from the position of CFO but will continue as an advisor to the company and remains on the Board of Directors.
Meadow Bay Capital Corporation (TSX-V:MAY) announced the appointment of Robert Dinning as Chairman and interim CEO. Mr. Dinning has over 40 years of experience specializing in the junior mining industry. Mr. Dinning is currently Chairman of Paramount Gold and Silver Corp (NYSE/TSX:PZG) operating in Mexico (San Miguel) and Nevada (Sleeper Gold Mine) and also serves as Chief Financial Officer of ATAC Resources Ltd. (TSX-V:ATC).
Southern Arc Minerals (TSX-V: SA) announced the addition of Brian Richardson as Chief Financial Officer, replacing Cyrus Driver who was interim CFO. Mr. Richardson, has over 20 years experience as a CFO and has held senior financial positions for a number of public and private companies. Brian previously worked for Ernst & Young in Toronto and in Hong Kong.
Rare Earth Metals Inc. (TSX-V: RA) announced that Evan Asselstine has been appointed Chief Financial Officer for the Company. Mr. Asselstine is the CFO for Benton Resources Corp and the Controller for Metals Creek Resources Corp.
Portfolio Entertainment appointed Lorraine Rotz to the newly created position of VP Finance. Rotz has held senior financial management positions in Canada and abroad. As Director of Finance at MDS Capital Corp., a leading venture capital company with $1 billion under management, her responsibilities included all aspects of management and shareholder reporting. Most recently, she was Vice President Finance for a leading automotive solutions group, and has held senior positions at Consumers Gas (now Enbridge Inc.) and Ernst & Young in both Toronto and London, England.
Norsat International Inc. (TSX: NII, OTCBB: NSATF), announced that it has appointed Arthur Chin as its new Chief Financial Officer. Mr. Chin succeeds Trevor Greene, who has left the Company to pursue other opportunities. Mr. Chin will take office on February 1, 2011. Mr. Chin was previously with Norsat between 2002 and 2005 and was the Company’s Corporate Controller. Prior to rejoining Norsat, he held senior financial positions mostly in the high technology industry with DDS Wireless International Inc., a TSX listed company that provides wireless mobile data solutions and Ascalade Communications Inc.
Vecta Energy Corporation (TSX-V: VER) announced the appointment of Diane M. Zuber as Vice President Finance and Chief Financial Officer. Ms. Zuber brings a broad range of experience to her new role. She was Senior Financial Analyst at Kinnear Financial Limited; and prior thereto was Manager, Investor Relations at AltaGas Income Trust; Senior Analyst, Business Development at Pengrowth Management Limited; Investor Relations Analyst PrimeWest Energy Trust; Account Manager, Energy Banking, Syndications at ATB Financial; and Financial Analyst, Energy Banking at the Royal Bank of Canada.
High River Gold Mines Ltd. (TSX: HRG) announced the appointment of Yury Lopukhin as Chief Financial Officer and Director of the Company. Mr. Lopukhin currently holds the position of Senior Financial Manager at Severstal Gold LLC, a subsidiary of OAO Severstal. OAO Severstal is one of the world's leading integrated steel and mining companies with listings in Russia and on the London Stock Exchange. Mr. Lopukhin has previously held the position of Chief Financial Officer at OJSC Buryatzoloto. Prior to that, he held the positions of Senior Manager of Strategy at Severstal Resources and Consultant at Russian Investors.
Ontario Lottery and Gaming Corporation appointed Preet Dhindsa as Executive Vice President, Chief Administrative Officer and Chief Financial Officer.
Entrée Gold Inc. (TSX: ETG; NYSE AMEX: EGI; Frankfurt: EKA) announced that it has appointed Bruce Colwill as its Chief Financial Officer effective February 1, 2011. Most recently, Mr. Colwill served as Chief Financial Officer of Transeuro Energy Corp., a public oil and gas company. Between 2001 and 2009, Mr. Colwill served as Chief Financial Officer of Neuromed Pharmaceuticals Ltd. Hamish Malkin will step down from the position of CFO effective January 31, 2011, although he will continue to provide consulting services during a transition period.
Canada Gold Corporation (TSX-V: CI, Frankfurt: T9N, OTC-BB: CNGZF) announced that it has appointed Kelsey Chin as Chief Financial Officer of the Company. Ms. Chin has over 7 years experience in audit, finance and accounting within the mining and exploration industry. As an Executive Officer of TintinaGold Resources Inc. and AsiaBaseMetals Inc., Ms. Chin was involved with numerous financings and spin out transactions and was responsible for all aspects of financial services, financial reporting, and corporate governance.
Nesscap Energy Inc. (TSX-V: NCE), formerly Asian Resource Global Strategies Inc. ("Asian Resource"), is pleased to announce that it has completed its previously announced qualifying transaction (the "Qualifying Transaction") with Nesscap, Inc. ("Nesscap"). Following the completion of the Qualifying Transaction, Paul Haber will be the Interim Chief Financial Officer. Mr. Haber is the Managing Director of Haber & Co. Ltd. which provides corporate finance and capital market advisory services to small and medium-sized businesses. From 2004 through March 2007, Mr. Haber was Vice President, Chief Financial Officer and Corporate Secretary of QuStream Corporation. From 2001 to 2004, Mr. Haber held various positions including Senior Vice President and Chief Financial Officer of Protana Inc.
Redline Communications Group Inc. (TSX: RDL), announced that Bruce MacInnis, Redline's CFO, will be leaving the Company. His departure date is anticipated to be April 30th, 2011. Bruce joined Redline in May 2010 and has been instrumental in guiding the Company through a complex period of financial restatements.
If you have news about CFOs on the move, or any comments on this feature, please email us.
Sunday, January 16, 2011
Canadian CFOs on the Move - week ending January 14, 2011
Companies with CFOs on the Move this week include: Abacus Mining & Exploration Corporation, Mountainview Energy Ltd., Liquidation World Inc., Adira Energy Ltd., Petro-Reef Resources Ltd., Hart Stores Inc., AutoCanada Inc., Conway Resources Inc., Cogitore Resources Inc., Central Alberta Well Services Corp., TransAtlantic Petroleum Ltd., Argentex Mining Corporation, Integra Gold Corp.
Abacus Mining & Exploration Corporation (TSX-V: AME) announced the appointment of Ian M. MacNeily as Executive Vice President and Chief Financial Officer. Mr. MacNeily will be responsible for the financial operations and management of Abacus and the KGHM Ajax joint venture. He takes over from Paddy Nicol, who has been with Abacus since 1995 serving as a director from 1999 to 2009 and as its CFO since 2003.
Mountainview Energy Ltd. (TSX-V: MVW) announced the appointment of Angelique Hatch as the Company's Chief Financial Officer. Ms. Hatch has been the Accounting Consultant for Mountainview Energy Ltd for the past 5 years, working with the Company and the Company's Auditors, PricewaterhouseCoopers, LLP to formulate and timely fulfill the Company's financial filing obligations. Ms. Hatch also has a broad range of accounting experience through other sectors including construction, technology, corporate tax and owner managed companies.
Liquidation World Inc. (TSX: LQW) announced that David Becker has been appointed interim Chief Financial Officer of the Company. Mr. Becker will continue to serve on the Board of Directors; however, he will be relinquishing his role as Chair of the Company's Audit Committee. This changes the positions of both Mr. Becker as well as Chris Rath, the Company's current Chief Financial Officer. Mr. Rath will transition from this role into a contract consulting role with the Company effective immediately. Mr. Becker previously held the positions of Chief Financial Officer at both Middlebrook Pharmaceuticals Inc. and at Adams Respiratory Therapeutics Inc., both NASDAQ listed companies located in the United States.
Adira Energy Ltd. (TSX-V: ADL, OTCBB: ADENF, FRANKFURT: AORLB8) announced that Gadi Levin, the CFO of the Company's four Israeli operating subsidiaries, has been appointed Chief Financial Officer of the Company. The Company's current CFO, Mr. Alan Rootenberg, will continue to assist the Company on a consulting basis.
Petro-Reef Resources Ltd. (TSX-V: PER) announced that John Pantazopoulos has resigned as Vice President, Finance and Chief Financial Officer to pursue other career opportunities. He will assist the Corporation in the transition to a new CFO and will remain as a Director of the Corporation.
Hart Stores Inc. (TSX: HIS) announced that Jacques Plante has resigned as the company's Vice President and Chief Financial Officer.
AutoCanada Inc. (TSX: ACQ) announced the appointments of Tom Orysiuk as President and Jeff Christie as Vice-President Finance. Mr. Orysiuk was previously the Executive Vice-President and Chief Financial Officer at AutoCanada and has been with the Company since November of 2005 and prior thereto held a number of senior executive roles. Mr. Christie was previously the Manager, Financial Reporting at AutoCanada and has been with the Company since August of 2008.
Conway Resources Inc. (TSX-V: CWY) announced the appointment of Francois Kalos as Chief Financial Officer of the Company. Mr. Kalos is presently a member of the Board of Directors of Conway. He is presently President and Founder of SOLAK Communications, a financial communication and investor relations firm. During his career, he has worked for communication firms, mining exploration companies and the Montreal Stock Exchange.
Cogitore Resources Inc. (TSX V: WOO) announced that Carmelo Marrelli has been appointed as Chief Financial Officer of the Company. Orest Zajcew has resigned as Chief Financial Officer to focus on other activities. Mr. Marrelli is currently President of Marrelli Support Services, a bookkeeping firm based in Toronto, Ontario.
Central Alberta Well Services Corp. (TSX-V: CWC) announced the appointment Kevin Howell as Chief Financial Officer. Prior to his appointment with CWC, Mr. Howell served as Chief Financial Officer over the last 5 years for Brews Supply Ltd. and IROC Energy Services Corp. Previously, Mr. Howell was the Financial Reporting Manager for Wellco Energy Services Trust and Corporate Controller for Jager Building Systems Inc. Mr. Howell also spent over 5 years with KPMG.
TransAtlantic Petroleum Ltd. (TSX: TNP, AMEX: TAT) announced that Hilda D. Kouvelis will resign from her position as Vice President and Chief Financial Officer of the Company for personal reasons and in pursuit of other interests. Ms. Kouvelis' resignation will be effective immediately after the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2010. Ms Kouvelis will continue to serve the Company during an unspecified transition period thereafter.
Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) announced the appointment of Jeff Finkelstein as Chief Financial Officer and Treasurer, replacing Valerie Helsing. His background includes senior management positions with junior and senior listed companies, including Silver Standard Resources and Sierra Geothermal Power.
Integra Gold Corp. (TSX-V: ICG) appointed Norman J.R. MacKinnon as CFO. From 1972 to present, Mr. MacKinnon served as a director, primarily in a financial advisory or audit committee role, on the boards of numerous VSE, TSE, TSX Venture and NASDAQ public corporations. He was senior partner in the accounting firm MacKinnon, Sapera, Lewis & McDonald from 1972 to 1984, which specialized in taxation matters and general accounting. Between 1982 and 1984, he served as CFO of Century II Productions Inc., the first Canadian syndicated variety program to be syndicated in the US and successful in television tax shelters. In 1984 he became the sole practitioner of the Chartered Accounting firm, NJR MacKinnon, specializing in tax planning, CFO positions and controllership of emerging public companies.
Abacus Mining & Exploration Corporation (TSX-V: AME) announced the appointment of Ian M. MacNeily as Executive Vice President and Chief Financial Officer. Mr. MacNeily will be responsible for the financial operations and management of Abacus and the KGHM Ajax joint venture. He takes over from Paddy Nicol, who has been with Abacus since 1995 serving as a director from 1999 to 2009 and as its CFO since 2003.
Mountainview Energy Ltd. (TSX-V: MVW) announced the appointment of Angelique Hatch as the Company's Chief Financial Officer. Ms. Hatch has been the Accounting Consultant for Mountainview Energy Ltd for the past 5 years, working with the Company and the Company's Auditors, PricewaterhouseCoopers, LLP to formulate and timely fulfill the Company's financial filing obligations. Ms. Hatch also has a broad range of accounting experience through other sectors including construction, technology, corporate tax and owner managed companies.
Liquidation World Inc. (TSX: LQW) announced that David Becker has been appointed interim Chief Financial Officer of the Company. Mr. Becker will continue to serve on the Board of Directors; however, he will be relinquishing his role as Chair of the Company's Audit Committee. This changes the positions of both Mr. Becker as well as Chris Rath, the Company's current Chief Financial Officer. Mr. Rath will transition from this role into a contract consulting role with the Company effective immediately. Mr. Becker previously held the positions of Chief Financial Officer at both Middlebrook Pharmaceuticals Inc. and at Adams Respiratory Therapeutics Inc., both NASDAQ listed companies located in the United States.
Adira Energy Ltd. (TSX-V: ADL, OTCBB: ADENF, FRANKFURT: AORLB8) announced that Gadi Levin, the CFO of the Company's four Israeli operating subsidiaries, has been appointed Chief Financial Officer of the Company. The Company's current CFO, Mr. Alan Rootenberg, will continue to assist the Company on a consulting basis.
Petro-Reef Resources Ltd. (TSX-V: PER) announced that John Pantazopoulos has resigned as Vice President, Finance and Chief Financial Officer to pursue other career opportunities. He will assist the Corporation in the transition to a new CFO and will remain as a Director of the Corporation.
Hart Stores Inc. (TSX: HIS) announced that Jacques Plante has resigned as the company's Vice President and Chief Financial Officer.
AutoCanada Inc. (TSX: ACQ) announced the appointments of Tom Orysiuk as President and Jeff Christie as Vice-President Finance. Mr. Orysiuk was previously the Executive Vice-President and Chief Financial Officer at AutoCanada and has been with the Company since November of 2005 and prior thereto held a number of senior executive roles. Mr. Christie was previously the Manager, Financial Reporting at AutoCanada and has been with the Company since August of 2008.
Conway Resources Inc. (TSX-V: CWY) announced the appointment of Francois Kalos as Chief Financial Officer of the Company. Mr. Kalos is presently a member of the Board of Directors of Conway. He is presently President and Founder of SOLAK Communications, a financial communication and investor relations firm. During his career, he has worked for communication firms, mining exploration companies and the Montreal Stock Exchange.
Cogitore Resources Inc. (TSX V: WOO) announced that Carmelo Marrelli has been appointed as Chief Financial Officer of the Company. Orest Zajcew has resigned as Chief Financial Officer to focus on other activities. Mr. Marrelli is currently President of Marrelli Support Services, a bookkeeping firm based in Toronto, Ontario.
Central Alberta Well Services Corp. (TSX-V: CWC) announced the appointment Kevin Howell as Chief Financial Officer. Prior to his appointment with CWC, Mr. Howell served as Chief Financial Officer over the last 5 years for Brews Supply Ltd. and IROC Energy Services Corp. Previously, Mr. Howell was the Financial Reporting Manager for Wellco Energy Services Trust and Corporate Controller for Jager Building Systems Inc. Mr. Howell also spent over 5 years with KPMG.
TransAtlantic Petroleum Ltd. (TSX: TNP, AMEX: TAT) announced that Hilda D. Kouvelis will resign from her position as Vice President and Chief Financial Officer of the Company for personal reasons and in pursuit of other interests. Ms. Kouvelis' resignation will be effective immediately after the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2010. Ms Kouvelis will continue to serve the Company during an unspecified transition period thereafter.
Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) announced the appointment of Jeff Finkelstein as Chief Financial Officer and Treasurer, replacing Valerie Helsing. His background includes senior management positions with junior and senior listed companies, including Silver Standard Resources and Sierra Geothermal Power.
Integra Gold Corp. (TSX-V: ICG) appointed Norman J.R. MacKinnon as CFO. From 1972 to present, Mr. MacKinnon served as a director, primarily in a financial advisory or audit committee role, on the boards of numerous VSE, TSE, TSX Venture and NASDAQ public corporations. He was senior partner in the accounting firm MacKinnon, Sapera, Lewis & McDonald from 1972 to 1984, which specialized in taxation matters and general accounting. Between 1982 and 1984, he served as CFO of Century II Productions Inc., the first Canadian syndicated variety program to be syndicated in the US and successful in television tax shelters. In 1984 he became the sole practitioner of the Chartered Accounting firm, NJR MacKinnon, specializing in tax planning, CFO positions and controllership of emerging public companies.
Thursday, January 13, 2011
5 Reasons why CFOs don't Tweet (and 5 Reasons why they should)
In leading our firm's activity over the past year on Twitter, I have noticed that many Chief Financial Officers aren't active on Twitter. And I wondered why. So I spoke with CFOs and asked them “Why aren’t you on Twitter?”
These are reasons CFOs are NOT active on Twitter:
These are reasons why CFOs ARE active on Twitter:
If you are a CFO who doesn't tweet yet, what are you waiting for?
These are reasons CFOs are NOT active on Twitter:
1) Twitter is complicated. Yes, it is complicated. It takes a long time to get the feel of the rules of the game. In a way, it is like learning a new language. You have to speak less, spell different, say things in shorthand, do things like @, #, RT, DM, and bit.ly.
2) Who cares what I have to say? Who will listen? Why should anyone care if you went to a concert, or what you ate for breakfast? It is not intuitive for people (born before 1985) to share this kind of information in public.
3) What am I going to tweet about? Your job? Your life? Your interest in collecting little spoons from around the world?
4) Regulatory concerns. A CFO of a public company is restricted up the regulatory Ying-yang of what they can say in public about the Company they work for.
5) Perception is that people who tweet aren’t very busy. CFOs are supposed to be busy people. If a CFO is tweeting, it shows that they are doing something other than work.On the other hand, since we started our Twitter activity, I have also come across Chief Financial Officers that are active on Twitter. And I wondered why. So I spoke with CFOs and asked them “Why are you on Twitter?”
These are reasons why CFOs ARE active on Twitter:
1) Personal Branding. Tweeting allows you to communicate your ideas and influence what others think about you. [If you don’t know why personal branding is important, read these: How Important is Your Personal Brand by Santhie Goundar and You are So Much More Than a Job Title by Cindy Kraft.]
2) Following interesting people. There are many interesting people in the world, and they have something to say and articles to share. A progressive Senior Financial Executive wants to learn more from people with different points of view. Twitter is a great place to find others to learn from.
3) Network with people you never would have connected with. As CFO, there are people you can follow that you would never have connected with personally. You can use Twitter to listen to and interact with Investors, Industry thought leaders and Customers. Those CFOs that use Twitter regularly find it very powerful.
4) Add value to my employer. Not only do you add to your personal brand as a CFO who Tweets, but you add value to your employer as well. If you look good, they look good too.
5) Share interests with others. Whether your interests are work related, such as being an Excel Guru or a GAAP Master, or life related like your passion for skiing, golf or Barbequing, people who follow you will know about it. It makes for interesting conversations and better connections when you do meet with them in person.If you are a CFO who Tweets, go ahead and tweet the following: I’m a #CFOwhoTweets
If you are a CFO who doesn't tweet yet, what are you waiting for?
Tuesday, January 11, 2011
You’re on LinkedIn. Now what?
You’ve heard your colleagues talk about LinkedIn. You’ve heard that it is indispensable to your professional career to be on LinkedIn. So you gave it a shot, signed up, put your profile up and connected with some people you know.
Now you’re sitting back and asking yourself - “Is that all there is to this? I don’t understand. There must be more.”
There is more.
However, the most important question you need to ask yourself is: What do I want to accomplish on LinkedIn? If you only want to be on LinkedIn just to be able to say that you are on LinkedIn - Stop Here - you’ve done all you need to do. However, if you want to build your personal brand, there are other things you can do to make the most out of your LinkedIn experience.
Seek out those you know.
Who you work with: LinkedIn works well in keeping in front of the people you know and want to stay connected to professionally. In your career, you deal with people inside and outside your organization - these people are ideal to request that they Link In with you.
Who you used to work with: There are people that you used to work with that remember you in a positive light, and would happy to reconnect.
How to find them: You can:
Who you know says a lot about you. You can read our previous blog on this topic here.
Complete your profile.
If you haven’t added all your previous work and volunteer experiences, you should. This will allow others who used to work with you to find you. There is an indicator on your profile page provided by LinkedIn that lets you know how complete your profile is. This indicator should not be less then 90%.
Join Groups.
We all have areas of interest at work. LinkedIn has thousands of groups. There most certainly are groups that may be of interest to you. You can browse around the groups, or even click on the “Groups You May Like” tab in the Groups section.
Add Applications.
There are many applications you can add to your profile page that allow you to interact with others. My favorite applications are:
Differentiate yourself.
If you want to differentiate yourself on LinkedIn and stand out in a positive way, it is highly recommended that you contribute to the conversations on LinkedIn.
You can do this by:
Continue coming back.
Setting up your LinkedIn profile and forgetting about it will not bring you value. Coming back on a regular basis to check out what is happening with your network, adding to the conversations and updating your profile for regular changes will help you get the best out of LinkedIn.
Now you’re sitting back and asking yourself - “Is that all there is to this? I don’t understand. There must be more.”
There is more.
However, the most important question you need to ask yourself is: What do I want to accomplish on LinkedIn? If you only want to be on LinkedIn just to be able to say that you are on LinkedIn - Stop Here - you’ve done all you need to do. However, if you want to build your personal brand, there are other things you can do to make the most out of your LinkedIn experience.
Seek out those you know.
Who you work with: LinkedIn works well in keeping in front of the people you know and want to stay connected to professionally. In your career, you deal with people inside and outside your organization - these people are ideal to request that they Link In with you.
Who you used to work with: There are people that you used to work with that remember you in a positive light, and would happy to reconnect.
How to find them: You can:
- import your contacts from your Microsoft Outlook email program,
- download the Outlook Toolbar to integrate into your Outlook,
- manually add people by searching for them, and requesting to connect,
- look at the connections of the people you are connected to see who you know.
Who you know says a lot about you. You can read our previous blog on this topic here.
Complete your profile.
If you haven’t added all your previous work and volunteer experiences, you should. This will allow others who used to work with you to find you. There is an indicator on your profile page provided by LinkedIn that lets you know how complete your profile is. This indicator should not be less then 90%.
Join Groups.
We all have areas of interest at work. LinkedIn has thousands of groups. There most certainly are groups that may be of interest to you. You can browse around the groups, or even click on the “Groups You May Like” tab in the Groups section.
Add Applications.
There are many applications you can add to your profile page that allow you to interact with others. My favorite applications are:
- Reading List by Amazon - allows you to share with others the books you have read, whether you like them or not, and you can review them as well. Others knowing what you are reading gives them a sense of what your interests are. Knowing what others are reading allows you to have conversations with them about their interests, or find something that might be interesting to read.
- Slideshare - if you have presented on topics that you think others would be interested in, this tool will share your brilliance with others.
- Events - this lets others see what events you will be attending, and allows you to see events being attended by others that might interest you too.
Differentiate yourself.
If you want to differentiate yourself on LinkedIn and stand out in a positive way, it is highly recommended that you contribute to the conversations on LinkedIn.
You can do this by:
- Updating your Status - this is where you ask a question, share a thought, or post an article. It allows your connections to know what you’re thinking of, and keeps you top of mind.
- Comment on other people’s Status updates - by “Liking” someones update, or adding your comment to it, you are engaging others and adding value to them and to yourself.
- Discuss topics of interest in your Group - sharing an article, asking a question or commenting on other people’s discussions allows you to ‘speak’ with people you are not currently connected with and share your point of view.
Continue coming back.
Setting up your LinkedIn profile and forgetting about it will not bring you value. Coming back on a regular basis to check out what is happening with your network, adding to the conversations and updating your profile for regular changes will help you get the best out of LinkedIn.
Monday, January 10, 2011
Canadian CFOs on the Move - week ending January 7, 2011
Companies with CFOs on the Move this week: Oceanic Iron Ore Corp., Terreno Resources Corp., NuLegacy Gold Corporation, Unique Broadband Systems, Inc., Sonoro Energy Ltd., Viper Gold Ltd., Bank of Montreal, Logan Resources Ltd., Melcor Developments Ltd., Sahara Energy Ltd., LMS Medical Systems Inc., North Atlantic Resources Ltd., Symax Lift (Holding) Co. Ltd., Quest Rare Minerals Ltd.
Oceanic Iron Ore Corp. (TSX-V: FEO) announced the appointment of Irfan Shariff as Chief Financial Officer and corporate secretary of the Company, replacing Gordon Keep who was interim CFO, but reamins a director of the company. Mr. Shariff has previously worked as a consultant to a number of junior resource companies based in Vancouver.
Terreno Resources Corp. (TSX-V: TNO) announced the appointment of Gerry Feldman as Chief Financial Officer of Terreno, replacing Jon Lever who remains on the Board of Directors. Mr. Feldman is currently Chief Financial Officer of Pinetree Capital Ltd. as well as several other publicly traded companies. Mr. Feldman also served and continues to serve as a director of other public and private companies.
NuLegacy Gold Corporation (TSX-V: NUG) announced the appointment of Adrian Rothwell to the position of Chief Financial Officer, replacing James Beairsto who recently retired. Mr. Rothwell brings NuLegacy Gold a broad experience in accounting, finance, regulatory matters and corporate finance, and has served as the Chief Financial Officer for a number of venture mining exploration and development companies.
Unique Broadband Systems, Inc. (TSX-V: UBS) announced that Malcolm Buxton-Forman has left the Company as Chief Financial Officer. C. Fraser Elliott has been appointed Chief Financial Officer to replace Mr. Buxton-Forman. Since 1987, Mr. Elliott has been the President of CFE Financial Inc., a private investment banking company. In addition, from January 1, 2005, Mr. Elliott was Chief Financial Officer of Tangarine Payment Solutions Corp. Mr. Elliott was involved in both the listing on the TSX Venture Exchange in 2005 and the subsequent successful sale of the business in 2009. Mr. Elliott is also the Executive Chairman of the board of directors of Gowest Amalgamated Resources Ltd. and a director of Sylogist Inc., which companies are both listed on the TSX Venture Exchange.
Sonoro Energy Ltd. (TSX-V: SNV) announced the appointment of Lance Mierendorf to the position of Chief Financial Officer, replacing Brian Farrell who has served as interim CFO of the Company. Mr. Farrell will continue as a member of the Company's Board of Directors. Most recently Mr. Mierendorf has held the position of Corporate Controller with Buried Hill Energy, a privately held corporation involved in oil and gas activities in Turkmenistan and The Gambia. Prior to this, Mr. Mierendorf was the Middle East Regional Finance Manager for Anadarko Petroleum Corp., overseeing activities in Qatar and Oman. Previously, Mr. Mierendorf held senior finance and management positions with Gulfstream Resources Ltd. in Cyprus, Bonus Resources Services Corp. in Canada and Ivanhoe Energy Ltd. in Siberia, Russia.
Viper Gold Ltd. (TSX-V: VPR) announced that Joseph Del Campo has been appointed interim Chief Financial Officer, replacing Gregory Jerome. Mr. Del Campo has over 30 years of management and accounting experience in the natural resources sector and has been a Director of Viper Gold since August 17, 2010. Mr. Jerome has stepped down as Chief Financial Officer of Viper Gold, a position he has held since February, 2008. Mr. Jerome will continue to work with Mr. Del Campo during the transition period and will remain as a member of the board of directors of the Company.
Bank of Montreal (TSX: BMO, NYSE: BMO) announced the appointment of Tom Flynn as Executive Vice-President and Chief Financial Officer, succeeding Russ Robertson, effective March 23, 2011. Previously, Mr. Flynn was Executive Vice-President and Chief Risk Officer, where he further strengthened BMO's risk function and the management of risk across the organization and provided exemplary leadership while navigating through an historic market environment, a changing economy and regulatory context, and shifting capital requirements. Mr. Flynn joined BMO in 1992 and has served in a number of senior roles. Mr. Flynn continues to report to the President and CEO.
Logan Resources Ltd. (TSX-V: LGR) announced the resignation of Peter F. Cummings as CFO and director, effective December 29, 2010. With the departure of Mr. Cummings, the Company has appointed Anna Ladd to the position of Chief Financial Officer. Ms. Ladd is an experienced financial professional with a wide array of experience in the mining industry and most recently served as the Chief Financial Officer of Sulliden Gold Corporation and Crowflight Minerals Inc. She has also held senior positions with various mining companies including Kinross Gold Corporation and has also worked in Thompson and Sudbury operations for Vale Inco.
Melcor Developments Ltd. (TSX: MRD) announced the appointment of Jonathan Chia as CFO and VP Finance. Jonathan joins Melcor after serving as Corporate Controller and then CFO of an Edmonton-based public company with global operations.
Sahara Energy Ltd. (TSX-V: SAH) announced the appointment of Qiping Men as Chief Financial Officer ("CFO"), replacing Doug James. Mr. Men is a well rounded managerial accountant with over 20 years experience in a wide range of industries and public accounting firms and nine years experience as an engineering manager in a manufacturing company. Mr. Men has a solid accounting experience in public accounting firms and has provided accounting services to private and public oil and gas companies and other businesses.
LMS Medical Systems Inc. (TSX: LMZ) announced that it has accepted Yves Grou's resignation as President and Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") of the Company. However, Mr. Yves Grou shall remain a Director of the Company. Cameron R. Prange has been duly appointed CEO and CFO of the Company effective January 1, 2011.
North Atlantic Resources Ltd. (TSX-V: NAC) announced the appointment of Kyle Appleby as North Atlantic's Chief Financial Officer, replacing Roderick Chisholm who has resigned. Since 2007 Mr. Appleby has been providing financial, accounting, compliance and other corporate services to companies in diverse industries including junior mining, manufacturing and distribution, technology and nutraceutical products. Prior to 2007 he spent over 8 years in public practice providing assurance services to Canadian companies, with a focus on investment funds. Mr. Appleby is currently also the Chief Financial Officer for Renforth Resources Inc., Takara Resources Ltd and Xylitol Canada Inc.
Symax Lift (Holding) Co. Ltd. (TSX-V: SYL), announced that Xiao Qin (Mary) Ma, the current Corporate Secretary and a Director of Symax, has been appointed as the Company's Interim Chief Financial Officer, replacing Ian Fodie who has resigned as Chief Financial Officer of the Company.
Quest Rare Minerals Ltd. (TSX-V: QRM) announced the appointment of Mark Schneiderman as Chief Financial Officer of Quest, replacing Ronald Kay who will continue to act as a Director. Mr. Schneiderman has been Quest's Treasurer since its incorporation. Mr. Schneiderman was recently the Chief Financial Officer of Freewest Resources Canada Inc. prior to its acquisition by Cliffs Natural Resources Inc in 2010 and has been involved with Freewest since 1996.
If you have news about CFOs on the move, or any comments on this feature, please email us.
Oceanic Iron Ore Corp. (TSX-V: FEO) announced the appointment of Irfan Shariff as Chief Financial Officer and corporate secretary of the Company, replacing Gordon Keep who was interim CFO, but reamins a director of the company. Mr. Shariff has previously worked as a consultant to a number of junior resource companies based in Vancouver.
Terreno Resources Corp. (TSX-V: TNO) announced the appointment of Gerry Feldman as Chief Financial Officer of Terreno, replacing Jon Lever who remains on the Board of Directors. Mr. Feldman is currently Chief Financial Officer of Pinetree Capital Ltd. as well as several other publicly traded companies. Mr. Feldman also served and continues to serve as a director of other public and private companies.
NuLegacy Gold Corporation (TSX-V: NUG) announced the appointment of Adrian Rothwell to the position of Chief Financial Officer, replacing James Beairsto who recently retired. Mr. Rothwell brings NuLegacy Gold a broad experience in accounting, finance, regulatory matters and corporate finance, and has served as the Chief Financial Officer for a number of venture mining exploration and development companies.
Unique Broadband Systems, Inc. (TSX-V: UBS) announced that Malcolm Buxton-Forman has left the Company as Chief Financial Officer. C. Fraser Elliott has been appointed Chief Financial Officer to replace Mr. Buxton-Forman. Since 1987, Mr. Elliott has been the President of CFE Financial Inc., a private investment banking company. In addition, from January 1, 2005, Mr. Elliott was Chief Financial Officer of Tangarine Payment Solutions Corp. Mr. Elliott was involved in both the listing on the TSX Venture Exchange in 2005 and the subsequent successful sale of the business in 2009. Mr. Elliott is also the Executive Chairman of the board of directors of Gowest Amalgamated Resources Ltd. and a director of Sylogist Inc., which companies are both listed on the TSX Venture Exchange.
Sonoro Energy Ltd. (TSX-V: SNV) announced the appointment of Lance Mierendorf to the position of Chief Financial Officer, replacing Brian Farrell who has served as interim CFO of the Company. Mr. Farrell will continue as a member of the Company's Board of Directors. Most recently Mr. Mierendorf has held the position of Corporate Controller with Buried Hill Energy, a privately held corporation involved in oil and gas activities in Turkmenistan and The Gambia. Prior to this, Mr. Mierendorf was the Middle East Regional Finance Manager for Anadarko Petroleum Corp., overseeing activities in Qatar and Oman. Previously, Mr. Mierendorf held senior finance and management positions with Gulfstream Resources Ltd. in Cyprus, Bonus Resources Services Corp. in Canada and Ivanhoe Energy Ltd. in Siberia, Russia.
Viper Gold Ltd. (TSX-V: VPR) announced that Joseph Del Campo has been appointed interim Chief Financial Officer, replacing Gregory Jerome. Mr. Del Campo has over 30 years of management and accounting experience in the natural resources sector and has been a Director of Viper Gold since August 17, 2010. Mr. Jerome has stepped down as Chief Financial Officer of Viper Gold, a position he has held since February, 2008. Mr. Jerome will continue to work with Mr. Del Campo during the transition period and will remain as a member of the board of directors of the Company.
Bank of Montreal (TSX: BMO, NYSE: BMO) announced the appointment of Tom Flynn as Executive Vice-President and Chief Financial Officer, succeeding Russ Robertson, effective March 23, 2011. Previously, Mr. Flynn was Executive Vice-President and Chief Risk Officer, where he further strengthened BMO's risk function and the management of risk across the organization and provided exemplary leadership while navigating through an historic market environment, a changing economy and regulatory context, and shifting capital requirements. Mr. Flynn joined BMO in 1992 and has served in a number of senior roles. Mr. Flynn continues to report to the President and CEO.
Logan Resources Ltd. (TSX-V: LGR) announced the resignation of Peter F. Cummings as CFO and director, effective December 29, 2010. With the departure of Mr. Cummings, the Company has appointed Anna Ladd to the position of Chief Financial Officer. Ms. Ladd is an experienced financial professional with a wide array of experience in the mining industry and most recently served as the Chief Financial Officer of Sulliden Gold Corporation and Crowflight Minerals Inc. She has also held senior positions with various mining companies including Kinross Gold Corporation and has also worked in Thompson and Sudbury operations for Vale Inco.
Melcor Developments Ltd. (TSX: MRD) announced the appointment of Jonathan Chia as CFO and VP Finance. Jonathan joins Melcor after serving as Corporate Controller and then CFO of an Edmonton-based public company with global operations.
Sahara Energy Ltd. (TSX-V: SAH) announced the appointment of Qiping Men as Chief Financial Officer ("CFO"), replacing Doug James. Mr. Men is a well rounded managerial accountant with over 20 years experience in a wide range of industries and public accounting firms and nine years experience as an engineering manager in a manufacturing company. Mr. Men has a solid accounting experience in public accounting firms and has provided accounting services to private and public oil and gas companies and other businesses.
LMS Medical Systems Inc. (TSX: LMZ) announced that it has accepted Yves Grou's resignation as President and Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") of the Company. However, Mr. Yves Grou shall remain a Director of the Company. Cameron R. Prange has been duly appointed CEO and CFO of the Company effective January 1, 2011.
North Atlantic Resources Ltd. (TSX-V: NAC) announced the appointment of Kyle Appleby as North Atlantic's Chief Financial Officer, replacing Roderick Chisholm who has resigned. Since 2007 Mr. Appleby has been providing financial, accounting, compliance and other corporate services to companies in diverse industries including junior mining, manufacturing and distribution, technology and nutraceutical products. Prior to 2007 he spent over 8 years in public practice providing assurance services to Canadian companies, with a focus on investment funds. Mr. Appleby is currently also the Chief Financial Officer for Renforth Resources Inc., Takara Resources Ltd and Xylitol Canada Inc.
Symax Lift (Holding) Co. Ltd. (TSX-V: SYL), announced that Xiao Qin (Mary) Ma, the current Corporate Secretary and a Director of Symax, has been appointed as the Company's Interim Chief Financial Officer, replacing Ian Fodie who has resigned as Chief Financial Officer of the Company.
Quest Rare Minerals Ltd. (TSX-V: QRM) announced the appointment of Mark Schneiderman as Chief Financial Officer of Quest, replacing Ronald Kay who will continue to act as a Director. Mr. Schneiderman has been Quest's Treasurer since its incorporation. Mr. Schneiderman was recently the Chief Financial Officer of Freewest Resources Canada Inc. prior to its acquisition by Cliffs Natural Resources Inc in 2010 and has been involved with Freewest since 1996.
If you have news about CFOs on the move, or any comments on this feature, please email us.
Tuesday, January 4, 2011
Inside the Mind of the CFO: Understanding the CFO / Lawyer Relationship
Thank you to the participants of our survey on CFO / Lawyer Relationships in October 2010. This survey was instrumental in creating our has helped to create our presentation (see below).
We are currently visiting Law firms to discuss our findings, and the discussions we are having are allowing us to better understand the CFO / Lawyer dynamic.
The most interesting result of the survey was that CFOs felt that outside Legal counsel was called in for advice in the beginning stages of a Strategic Process. Lawyer I have spoken with were surprised by this survey result - they generally felt that they were called in as the plan was about to be finalized, or once it was already finalized.
As you review the presentation below, are there any questions you have that you would like clarification on or comments that would be beneficial to you? If so, please comment below or via my About.me profile.
We are currently visiting Law firms to discuss our findings, and the discussions we are having are allowing us to better understand the CFO / Lawyer dynamic.
The most interesting result of the survey was that CFOs felt that outside Legal counsel was called in for advice in the beginning stages of a Strategic Process. Lawyer I have spoken with were surprised by this survey result - they generally felt that they were called in as the plan was about to be finalized, or once it was already finalized.
As you review the presentation below, are there any questions you have that you would like clarification on or comments that would be beneficial to you? If so, please comment below or via my About.me profile.
Monday, January 3, 2011
Canadian CFOs on the Move - week ending December 31, 2010
Note: This week was a quiet week in CFO movement in Canada. However, CFO movement should be picking up in January 2011 - stay tuned.
Goldeye Explorations Limited (TSX-V:GGY) announced the appointment of Warren Tong as Chief Financial Officer, replacing Connie Webster, who will remain a Director of the Company. Mr. Tong continues to provide accounting and tax services to privately held companies in conjunction with his role as CFO of Goldeye Explorations Limited. Mr. Tong has been involved with Goldeye as an internal accountant for the past year and, in that capacity, has been guiding the Company through the transition to IFRS.
Goldeye Explorations Limited (TSX-V:GGY) announced the appointment of Warren Tong as Chief Financial Officer, replacing Connie Webster, who will remain a Director of the Company. Mr. Tong continues to provide accounting and tax services to privately held companies in conjunction with his role as CFO of Goldeye Explorations Limited. Mr. Tong has been involved with Goldeye as an internal accountant for the past year and, in that capacity, has been guiding the Company through the transition to IFRS.
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