My friend Cindy Kraft, who is a CFO Coach to the better CFOs out there, recently wrote a blog entitled CFO Turnover is on the Rise. In it, Cindy points to a study that mentions that more CFOs are being hired because the economy is doing better. She also mentions 4 key points as to what has not changed for CFOs looking for their next career move.
What has not changed enough yet is this: Boards and Owners are still looking at 'who they know' and 'who is in their network' as opposed to doing a real search.
The reasons Board Members and Owners give for not doing a real search is mostly cost related. However, it costs more to a company's reputation to do a bad search, or worse, a bad hire.
We have all seen CFOs and Companies that don't fit well together. Most of the time, it is because the company hired wrong. As hard as it may be for the CFO to find the right company, it is just as hard, if not harder, for a company to hire the right CFO.
Many companies (specifically owners and board members) think that calling some people in their network or using LinkedIn is enough. It's not.
A real search is real work.
Thursday, April 28, 2011
Tuesday, April 26, 2011
When CFOs leave: Perception is Reality
Followers of this blog know that we keep track of CFOs on the Move. We have been doing this feature every week for almost a year now, and have watched many CFOs be promoted, hired, fired, resigned and replaced. Our feedback on this blog has been very positive, and knowing that our clients, candidates and competitors follow our reporting of these moves shows the importance and appreciation of this relevant and timely information.
What fascinates me in each and every one of these moves is the story behind the press release. Being that we are involved in CFO moves with our clients and being privileged to be aware of the real story behind the moves, we know that each story is unique as well as interesting.
A recent article in the Financial Times by Francesco Guerrera, Fears Over CFO Changes on Wall Street discusses what happens when people do not know the reason of departure of CFOs – they think what they want to think. Knowing human tendencies, thinking that “leaving for personal reasons” means the worst is not surprising. Charles Elson, director of the Centre of Corporate Governance at the University of Delaware was quoted in the article:
First, as anyone who has been through (or has had close friends who have been through) a divorce knows, there are 3 sides to every story – the husband’s story, the wife’s story, and the truth. I don’t believe a “full explanation” is possible to be determined and agreed upon. When a CFO leaves for “personal reasons”, it could mean practically anything.
Second, privacy concerns dictate that a “full explanation” is not possible. Could the CFO have believed that there were ethics issues at the company? Could the CFO have a health problem? Could the CFO and the CEO not be getting along? Could the CFO have been sexually harassed? Yes, Yes, Yes and Yes. These are all possibilities. But can we expect a “full explanation”? I don’t believe so.
I do believe that the more information that is provided upon a CFO departure will make investors comfortable. The challenge CEOs and Boards face on this topic, as we see in this article, is that when you provide less information, there is a perception that something is going on. And with this lack of information, the perception is that things are not going well.
My advice to the CEO and Board on a CFO departure: Manage the perception better for a better reality.
What fascinates me in each and every one of these moves is the story behind the press release. Being that we are involved in CFO moves with our clients and being privileged to be aware of the real story behind the moves, we know that each story is unique as well as interesting.
A recent article in the Financial Times by Francesco Guerrera, Fears Over CFO Changes on Wall Street discusses what happens when people do not know the reason of departure of CFOs – they think what they want to think. Knowing human tendencies, thinking that “leaving for personal reasons” means the worst is not surprising. Charles Elson, director of the Centre of Corporate Governance at the University of Delaware was quoted in the article:
“The departure of a CFO is a reason for concern and investors need a full explanation of their reasons and rationale to allay their fears,”While I agree with Mr. Elson’s logic that investors need a full explanation, I believe that is naïve to think that a “full explanation” will ever be given.
First, as anyone who has been through (or has had close friends who have been through) a divorce knows, there are 3 sides to every story – the husband’s story, the wife’s story, and the truth. I don’t believe a “full explanation” is possible to be determined and agreed upon. When a CFO leaves for “personal reasons”, it could mean practically anything.
Second, privacy concerns dictate that a “full explanation” is not possible. Could the CFO have believed that there were ethics issues at the company? Could the CFO have a health problem? Could the CFO and the CEO not be getting along? Could the CFO have been sexually harassed? Yes, Yes, Yes and Yes. These are all possibilities. But can we expect a “full explanation”? I don’t believe so.
I do believe that the more information that is provided upon a CFO departure will make investors comfortable. The challenge CEOs and Boards face on this topic, as we see in this article, is that when you provide less information, there is a perception that something is going on. And with this lack of information, the perception is that things are not going well.
My advice to the CEO and Board on a CFO departure: Manage the perception better for a better reality.
Sunday, April 24, 2011
Canadian CFOs on the Move - week ending April 22, 2011
Companies with CFOs on the move this week include: Emera Inc., Conway Resources Inc., Gold-Ore Resources, New Millennium Capital Corp., Coronet Metals Inc., CYGAM Energy Inc., Catalina Metals Corp., Nextraction Energy Corp., Inspiration Mining Corporation
Emera Inc. (TSX: EMA) announced that Judy Steele has been appointed interim Chief Financial Officer effective May 16, 2011. Ms. Steele is replacing Nancy Tower who was recently appointed CEO for Emera Newfoundland and Labrador, and Executive Vice President of Business Development for Emera. Ms. Steele is presently the Vice President of Finance for Emera Energy Inc., and a member of its Executive Team. Prior to joining Emera Energy, Ms. Steele worked in a variety of capacities across Emera's business including Investor and External Relations, Strategy Development, and Regulatory Affairs. Ms. Steele is a Director of Film Nova Scotia, a Crown Corporation of the Province of Nova Scotia; and a former Director of The Halifax Port Authority, and Chair of its Audit Committee. She is well known for her community leadership, which has included serving as Treasurer of the 2011 Canada Winter Games, and as National Chair of The Canadian Breast Cancer Foundation (the "Run for the Cure").
Conway Resources Inc. (TSX-V: CWY) announced the appointment of Gilles Rochette as Chief Financial Officer and a Director of the Corporation. Mr. Rochette replaces Francois Kalos, who has resigned as a Director and Chief Financial Officer and will henceforth be in charge of corporate development for the Corporation. Mr. Rochette has acquired 20 years of experience in the accounting industry working for accounting firms, financial institutions and companies. He specializes in project and treasury management.
Gold-Ore Resources (TSX: GOZ) announced the appointment of Michael Kerfoot to the position of Chief Financial Officer, replacing Maricruz Alvarado. Most recently, Mr. Kerfoot was the CFO for Panoro Minerals, an exploration company with two advanced stage exploration copper porphyry properties in Peru. Prior to that, he was the Controller at a tungsten mining company.
New Millennium Capital Corp. (TSX-V: NML) announced that Mark Freedman, currently acting as interim Chief Financial Officer of the Corporation, has now been confirmed as Chief Financial Officer.
Coronet Metals Inc. (TSX-V:CRF.H) announced that Theo van der Linde has been appointed Chief Financial Officer. Mr. van der Linde currently provides financial consulting, management and accounting services to Public companies. During the last seven years of his career Mr. van der Linde has worked with Etruscan Resources Inc. and ended up as the CFO for Burkina Mining Company in Burkina Faso.
CYGAM Energy Inc. (TSX-V: CYG) announced that Ali Rawji will resign from his position of Chief Financial Officer effective June 1, 2011.
Catalina Metals Corp. (TSX-V: CTX.H) announced that Ian Gallie has resigned as Chief Financial Officer and director of the Company. Alec Peck has been appointed as Chief Financial Officer. Mr. Peck brings more than 25 years experience in the financial markets. From 1986 until 1993, he was a partner in Toronto and then Vancouver with member offices of the international public accounting firm Horwath International. From 1993 until March, 2004, he was a vice-president in the corporate finance group of publicly listed full-service investment dealers, first with CM Oliver and then Canaccord Capital Corp., which acquired CM Oliver.
Nextraction Energy Corp. (TSX-V: NE) announced that Scott David Badcock has been appointed as Chief Financial Officer. Prior to joining Nextraction, Mr. Badcock was employed by two of the world's largest professional service firms, Ernst & Young and Deloitte & Touche and has extensive oil and gas industry experience serving such clients as Paramount Resources Ltd., MGM Energy Corp. and British Petroleum PLC in Calgary, Alberta.
Inspiration Mining Corporation (TSX: ISM, FRANKFURT: OI8) announced that James Davis, its Chief Financial Officer (CFO), is retiring from the company. Inspiration is pleased to report that Mr. Davis will be succeeded by Peter Anderson as its new Chief Financial Officer. Mr. Anderson was formerly the Vice President Finance of Stratacon Inc. Prior to joining Stratacon Inc., Mr. Anderson was the Chief Financial Officer of Gas Recovery Systems LLC, a major U.S. based landfill gas to energy company.
If you have news about CFOs on the move, or any comments on this feature, please email us.
Emera Inc. (TSX: EMA) announced that Judy Steele has been appointed interim Chief Financial Officer effective May 16, 2011. Ms. Steele is replacing Nancy Tower who was recently appointed CEO for Emera Newfoundland and Labrador, and Executive Vice President of Business Development for Emera. Ms. Steele is presently the Vice President of Finance for Emera Energy Inc., and a member of its Executive Team. Prior to joining Emera Energy, Ms. Steele worked in a variety of capacities across Emera's business including Investor and External Relations, Strategy Development, and Regulatory Affairs. Ms. Steele is a Director of Film Nova Scotia, a Crown Corporation of the Province of Nova Scotia; and a former Director of The Halifax Port Authority, and Chair of its Audit Committee. She is well known for her community leadership, which has included serving as Treasurer of the 2011 Canada Winter Games, and as National Chair of The Canadian Breast Cancer Foundation (the "Run for the Cure").
Conway Resources Inc. (TSX-V: CWY) announced the appointment of Gilles Rochette as Chief Financial Officer and a Director of the Corporation. Mr. Rochette replaces Francois Kalos, who has resigned as a Director and Chief Financial Officer and will henceforth be in charge of corporate development for the Corporation. Mr. Rochette has acquired 20 years of experience in the accounting industry working for accounting firms, financial institutions and companies. He specializes in project and treasury management.
Gold-Ore Resources (TSX: GOZ) announced the appointment of Michael Kerfoot to the position of Chief Financial Officer, replacing Maricruz Alvarado. Most recently, Mr. Kerfoot was the CFO for Panoro Minerals, an exploration company with two advanced stage exploration copper porphyry properties in Peru. Prior to that, he was the Controller at a tungsten mining company.
New Millennium Capital Corp. (TSX-V: NML) announced that Mark Freedman, currently acting as interim Chief Financial Officer of the Corporation, has now been confirmed as Chief Financial Officer.
Coronet Metals Inc. (TSX-V:CRF.H) announced that Theo van der Linde has been appointed Chief Financial Officer. Mr. van der Linde currently provides financial consulting, management and accounting services to Public companies. During the last seven years of his career Mr. van der Linde has worked with Etruscan Resources Inc. and ended up as the CFO for Burkina Mining Company in Burkina Faso.
CYGAM Energy Inc. (TSX-V: CYG) announced that Ali Rawji will resign from his position of Chief Financial Officer effective June 1, 2011.
Catalina Metals Corp. (TSX-V: CTX.H) announced that Ian Gallie has resigned as Chief Financial Officer and director of the Company. Alec Peck has been appointed as Chief Financial Officer. Mr. Peck brings more than 25 years experience in the financial markets. From 1986 until 1993, he was a partner in Toronto and then Vancouver with member offices of the international public accounting firm Horwath International. From 1993 until March, 2004, he was a vice-president in the corporate finance group of publicly listed full-service investment dealers, first with CM Oliver and then Canaccord Capital Corp., which acquired CM Oliver.
Nextraction Energy Corp. (TSX-V: NE) announced that Scott David Badcock has been appointed as Chief Financial Officer. Prior to joining Nextraction, Mr. Badcock was employed by two of the world's largest professional service firms, Ernst & Young and Deloitte & Touche and has extensive oil and gas industry experience serving such clients as Paramount Resources Ltd., MGM Energy Corp. and British Petroleum PLC in Calgary, Alberta.
Inspiration Mining Corporation (TSX: ISM, FRANKFURT: OI8) announced that James Davis, its Chief Financial Officer (CFO), is retiring from the company. Inspiration is pleased to report that Mr. Davis will be succeeded by Peter Anderson as its new Chief Financial Officer. Mr. Anderson was formerly the Vice President Finance of Stratacon Inc. Prior to joining Stratacon Inc., Mr. Anderson was the Chief Financial Officer of Gas Recovery Systems LLC, a major U.S. based landfill gas to energy company.
If you have news about CFOs on the move, or any comments on this feature, please email us.
Sunday, April 17, 2011
Canadian CFOs on the Move - week ending April 15, 2011
Companies with CFOs on the Move this week include: Metalline Mining Company, Mediagrif Interactive Technologies Inc., Chalice Diamond Corp., Liberty Coal Energy Corp., General Donlee Canada Inc., Riata Resources Corp., Rocky Mountain Liquor Inc., Cue Resources Ltd., Scorpio Mining Corporation, Parkland Fuel Corporation
Metalline Mining Company (TSX: MMZ) announced the appointment of Sean Fallis as Chief Financial Officer, replacing Robert Devers. Mr. Fallis was hired in February 2011 as VP of Finance. Mr. Fallis was formerly the corporate controller of gold producer Rusoro Mining Ltd. Prior to Rusoro Mining Ltd. Mr. Fallis worked with Canadian and United States publically listed companies in the audit and assurance practice of PricewaterhouseCoopers.
Mediagrif Interactive Technologies Inc. (TSX: MDF) announced that Chief Financial Officer Suzanne Mercier will be leaving the Corporation to pursue other interests. Mrs. Mercier will complete the filing of the Corporation's 2011 Annual Financial Statements and will assist her successor in the transition of her role up to the date of her departure on June 14, 2011.
Chalice Diamond Corp. (TSX-V: COD) announced that Larry Johnson has been appointed to the Company's Board of Directors and to the positions of Chief Financial Officer and Corporate Secretary. The Company also has received resignation of Alan Campbell as a Chief Financial Officer. Mr. Campbell will stay on board as a Director. Mr. Johnson has been employed as a Chief Financial Officer for several junior resource companies including Fronteer Gold which Newmont Mining is to acquire for about Cdn. $2.3 billion.
Liberty Coal Energy Corp. (OTCBB: LBTG) announced that Robert Malasek has been hired as the Company's CFO and has joined the board of directors. Mr. Malasek is a financial consultant and works with a number of public companies. Currently Mr. Malasek is a Director and CFO for Siga Resources Inc. and the Chief Financial Officer for Naturewell, Inc.
General Donlee Canada Inc. (TSX: GDI) announced that Gerald Thain will retire as Chief Financial Officer of the Company at the end of April 2011, following an 11-year career with the Company. Effective May 2, 2011, Garen Mikirditsian will become Chief Financial Officer of the Company. Mr. Mikirditsian's most recently served as Vice President at the Toronto offices of Geosam Investments Limited, a private investment firm. From 2006 to 2009, Mr. Mikirditsian spent three years in the Mergers & Acquisitions group of a major Canadian investment bank where he was involved in a wide range of public and private M&A advisory mandates.
Riata Resources Corp. (TSX-V: RTR) announced the appointment of Robert McMorran as the Chief Financial Officer and a Director of the Company. Mr. McMorran has held numerous board positions and senior officer appointments with various public companies.
Rocky Mountain Liquor Inc. (TSX-V: RUM) announced the promotion of Sarah Stelmack from controller to Chief Financial Officer ("CFO"), replacing the the current CFO, Tracey Bean. Sarah held a position as an accountant with Atco Gas before coming to Rocky Mountain Liquor as controller February 16, 2010.
Cue Resources Ltd. (TSX-V:CUE) announced that David McAdam has joined Cue Resources as chief financial officer. Mr. McAdam is an experienced CFO, with transformation and operational experience in the mining sector and internationally. Mr. McAdam has held various senior financial and operational positions ranging from CFO of start-up companies listed on the TSX Venture Exchange through to vice-president operations and finance director of a Fortune 150 company based in Houston, Tex. Mr. McAdam is replacing Jon Lever as CFO.
Scorpio Mining Corporation (TSX: SPM) announced the appointment of Hemdat Sawh as Chief Financial Officer (CFO) effective May 1, 2011. Since May 2007, Mr Sawh held the position of CFO for Crystallex International Corporation, a Canadian-based gold company with operations in Venezuela. From 2005 to 2007, he was the CFO for Goldbelt Resources Ltd., prior to which he worked with Grant Thornton LLP from1989 to 2005, involved in the audit of small to medium-sized businesses with a concentration in publicly-listed junior mining companies. Scorpio Mining's current CFO, Gilbert Comtois will continue to serve as CFO for Scorpio Gold Corporation ("Scorpio Gold") and will assist Mr. Sawh on an as needed basis.
Metalline Mining Company (TSX: MMZ) announced the appointment of Sean Fallis as Chief Financial Officer, replacing Robert Devers. Mr. Fallis was hired in February 2011 as VP of Finance. Mr. Fallis was formerly the corporate controller of gold producer Rusoro Mining Ltd. Prior to Rusoro Mining Ltd. Mr. Fallis worked with Canadian and United States publically listed companies in the audit and assurance practice of PricewaterhouseCoopers.
Mediagrif Interactive Technologies Inc. (TSX: MDF) announced that Chief Financial Officer Suzanne Mercier will be leaving the Corporation to pursue other interests. Mrs. Mercier will complete the filing of the Corporation's 2011 Annual Financial Statements and will assist her successor in the transition of her role up to the date of her departure on June 14, 2011.
Chalice Diamond Corp. (TSX-V: COD) announced that Larry Johnson has been appointed to the Company's Board of Directors and to the positions of Chief Financial Officer and Corporate Secretary. The Company also has received resignation of Alan Campbell as a Chief Financial Officer. Mr. Campbell will stay on board as a Director. Mr. Johnson has been employed as a Chief Financial Officer for several junior resource companies including Fronteer Gold which Newmont Mining is to acquire for about Cdn. $2.3 billion.
Liberty Coal Energy Corp. (OTCBB: LBTG) announced that Robert Malasek has been hired as the Company's CFO and has joined the board of directors. Mr. Malasek is a financial consultant and works with a number of public companies. Currently Mr. Malasek is a Director and CFO for Siga Resources Inc. and the Chief Financial Officer for Naturewell, Inc.
General Donlee Canada Inc. (TSX: GDI) announced that Gerald Thain will retire as Chief Financial Officer of the Company at the end of April 2011, following an 11-year career with the Company. Effective May 2, 2011, Garen Mikirditsian will become Chief Financial Officer of the Company. Mr. Mikirditsian's most recently served as Vice President at the Toronto offices of Geosam Investments Limited, a private investment firm. From 2006 to 2009, Mr. Mikirditsian spent three years in the Mergers & Acquisitions group of a major Canadian investment bank where he was involved in a wide range of public and private M&A advisory mandates.
Riata Resources Corp. (TSX-V: RTR) announced the appointment of Robert McMorran as the Chief Financial Officer and a Director of the Company. Mr. McMorran has held numerous board positions and senior officer appointments with various public companies.
Rocky Mountain Liquor Inc. (TSX-V: RUM) announced the promotion of Sarah Stelmack from controller to Chief Financial Officer ("CFO"), replacing the the current CFO, Tracey Bean. Sarah held a position as an accountant with Atco Gas before coming to Rocky Mountain Liquor as controller February 16, 2010.
Cue Resources Ltd. (TSX-V:CUE) announced that David McAdam has joined Cue Resources as chief financial officer. Mr. McAdam is an experienced CFO, with transformation and operational experience in the mining sector and internationally. Mr. McAdam has held various senior financial and operational positions ranging from CFO of start-up companies listed on the TSX Venture Exchange through to vice-president operations and finance director of a Fortune 150 company based in Houston, Tex. Mr. McAdam is replacing Jon Lever as CFO.
Scorpio Mining Corporation (TSX: SPM) announced the appointment of Hemdat Sawh as Chief Financial Officer (CFO) effective May 1, 2011. Since May 2007, Mr Sawh held the position of CFO for Crystallex International Corporation, a Canadian-based gold company with operations in Venezuela. From 2005 to 2007, he was the CFO for Goldbelt Resources Ltd., prior to which he worked with Grant Thornton LLP from1989 to 2005, involved in the audit of small to medium-sized businesses with a concentration in publicly-listed junior mining companies. Scorpio Mining's current CFO, Gilbert Comtois will continue to serve as CFO for Scorpio Gold Corporation ("Scorpio Gold") and will assist Mr. Sawh on an as needed basis.
Parkland Fuel Corporation (TSX: PKI) announced the resignation of Senior Vice President and CFO Ken Grondin effective July 1, 2011.The corporation has actively begun the process to recruit a new CFO.
If you have news about CFOs on the move, or any comments on this feature, please email us.
If you have news about CFOs on the move, or any comments on this feature, please email us.
Thursday, April 14, 2011
CFOs and their relationship with HR - A Survey
If you have been reading my blogs over the past while, you may know that I blog about CFOs, their careers, and the relationships they have with others.
Our last survey in the Fall of 2010 was on CFOs and their relationships with Lawyers. You can read more about the results of this survey here. The survey was a success, and we continue to present these results to law firms so they can learn more about CFOs and what they are thinking.
For the past while I have been considering doing another survey about CFOs and what they think about the HR (Human Resources) function. And then I read this ‘joke’ that has been repeated ad nauseum over social media (I’ve seen it numerous times on Twitter and LinkedIn).
However, a dynamic I constantly see in organizations is the CFO/HR divide. And rather than pontificate on the subject (right now), I would like your feedback.
If you are a CFO or senior finance professional in your organization, please complete our survey at your earliest convenience. It will only take 10 minutes of your time.
Thank you in advance,
Samuel
Our last survey in the Fall of 2010 was on CFOs and their relationships with Lawyers. You can read more about the results of this survey here. The survey was a success, and we continue to present these results to law firms so they can learn more about CFOs and what they are thinking.
For the past while I have been considering doing another survey about CFOs and what they think about the HR (Human Resources) function. And then I read this ‘joke’ that has been repeated ad nauseum over social media (I’ve seen it numerous times on Twitter and LinkedIn).
CFO asks CEO "What happens if we invest in developing our people & then they leave us?" CEO: 'What happens if we don't, and they stay?Now personally, I think do not think that this ‘joke’ is funny. I don’t think it’s funny because from my experience meeting with CFOs on a regular basis, I find them to generally be not only capable business people, but considerate and caring for the people in their organization. CFOs get the value of people – they always have and they always will.
However, a dynamic I constantly see in organizations is the CFO/HR divide. And rather than pontificate on the subject (right now), I would like your feedback.
If you are a CFO or senior finance professional in your organization, please complete our survey at your earliest convenience. It will only take 10 minutes of your time.
Thank you in advance,
Samuel
Sunday, April 10, 2011
Canadian CFOs on the Move - week ending April 8, 2011
Companies with CFOs on the move this week include: Hanfeng Evergreen Inc., Titan Uranium Inc., Stornoway Diamond Corporation, Essential Energy Services Ltd., Platmin Limited, Seabridge Gold, Everton Resources Inc., Sono Resources Inc., Vicwest Inc., CriticalControl Solutions Corp., Orezone Gold Corporation, Arian Silver Corporation, RBC Capital Markets, West Fraser, Fiber Optic Systems Technology, Inc., Nextraction Energy Corp., Katanga Mining Limited, RDM Corporation, Symax Lift (Holding) Co. Ltd., Confederation Minerals Ltd.
Hanfeng Evergreen Inc. (TSX: HF) announced that Niral V. Merchant has been appointed Chief Financial Officer, replacing Paul Begin whose resignation and transition was previously announced. Most recently, Mr. Merchant served as the CFO for Royal Laser Corp., a TSX listed steel fabrication and distribution company, which was acquired in 2010.
Titan Uranium Inc. (TSX-V: TUE, Frankfurt: T4X) announced that Rahoul Sharan, Director of Titan Uranium has been appointed CFO of the company, replacing Kelly McShane. Prior to joining Titan, Mr. Sharan was the Chairman of the Board of Uranium Power Corp. Mr. Sharan was a partner of the S&P Group, which specializes in investment financing for venture capital projects, real estate development and construction. Mr. Sharan is also the President of KJN Management Ltd., which provides a broad range of administrative, management and financial services. Mr. Sharan also serves as a Director and Officer for several other TSX Venture Exchange listed companies.
Stornoway Diamond Corporation (TSX: SWY) announced that Jean-Jacques Carrier, Senior Vice-President and Chief Financial and Risk Officer of Investissement Québec, has been appointed a director.
Essential Energy Services Ltd. (TSX: ESN) announced the combination of their business with Technicoil Corporation (TSX:TEC) and that the CFO of the combined entity will be Jeff Newman. Robert Sprinkhuysen, Chief Financial Officer of Technicoil, is expected to continue in an ongoing advisory role with the combined company on a transition basis.
Platmin Limited (TSX: PPN) announced the appointment of Craig Shaw as Chief Financial Officer. Wayne Koonin, Platmin's the current CFO, will hand over his responsibilities to Mr. Shaw in the coming weeks. For the past 14 years, Mr Shaw is currently Joint Head of the Natural Resources/Mining Corporate Finance team at Investec Corporate Finance, a division of Investec Bank Limited. Prior to joining Investec, Mr Shaw managed various listings on the London Stock Exchange and was the CFO of Cunico Nickel.
Seabridge Gold (TSX: SEA, NYSE Amex: SA) announced that Christopher J. Reynolds will join the Company as Vice President, Finance, Chief Financial Officer and Corporate Secretary effective May 1, 2011. Mr. Reynolds will be replacing Roderick Chisholm. Most recently, Mr. Reynolds was Vice President, Finance and Chief Financial Officer for Norsemont Mining Inc. which was acquired this year by HudBay Minerals Inc. Prior to Norsemont, Mr. Reynolds served in the same position with SouthernEra Diamonds Inc. which was purchased by Mwana Africa PLC in 2007. His experience also includes senior positions with Southern Platinum Corp., TVX Gold Inc. and Inmet Mining Corporation.
Everton Resources Inc. (TSX-V: EVR, FRANKFURT: ERV) announced the appointment of Judith Mazvihwa-MacLean as new Chief Financial Officer effective, replacing Khadija Abounaim. Prior to joining Everton Resources Inc., Ms. MacLean was the CFO for Logan Resources Ltd., and Acme Resources Inc. (formerly, International KRL Resources Corp.) from 2002 to 2010 and Golden Harp Resources Inc. from 2006 to 2009. She also served on the Boards of both Logan Resources Ltd., and Acme Resources Ltd. From 2001 through 2002, Ms. MacLean was the Exploration Geologist for Cumberland Resources Ltd. and Northgate Resources Ltd. in Canada. Previous to this, she was the Section Head and Section Geologist at Turk Mine and Queens Mine, Casmyn Mining Zimbabwe (Pvt) Ltd. and a Field Geologist for Prospecting Ventures Ltd., a subsidiary of Anglo-American Corp. in Zimbabwe.
Sono Resources Inc. (OTCQB: GVRS) announced the appointment of William D. Thomas as CFO of the Company. Most prominently, Mr. Thomas has held various management positions with Kerr McGee Corporation's operations in Beijing, China, ending in 2004 with his final position as Director of Business Services. From July 2007 to March 2010 he was the CFO for Hana Mining Ltd., a TSX-V company exploring for copper and silver in Botswana, Africa. Mr. Thomas also holds the position as CFO of Mainland Resources, an oil and gas exploration company based in Texas.
Vicwest Inc. (TSX: VIC) announced the appointment of Edward Mahood as interim Chief Financial Officer following the departure of John Slattery. Mr. Mahood was most recently EVP and CFO for Linamar Corp, a large publicly traded precision manufacturing company with a market capitalization of $1.4 billion. Prior to joining Linamar, Mr. Mahood held a series of increasingly senior finance positions at Toyota Motor Manufacturing Canada, including ultimately leading the finance department before joining Linamar in 2008.
CriticalControl Solutions Corp. (TSX: CCZ) announced the appointment of Bruce Byford as Chief Financial Officer of the Corporation. Hashu Remtulla, formerly VP and CFO will remain with CriticalControl in the newly formed role of Vice President and Corporate Controller.
Orezone Gold Corporation (TSX: ORE) announced that Sean Homuth has returned, after a brief absence, to the position of Chief Financial Officer. Joe McCoy is now VP Administration for Orezone and CFO for Brighton Energy Corp (67% owned by Orezone).
Arian Silver Corporation (TSX-V: AGQ) announced the appointment of Samuel Clarke as the Company's Chief Financial Officer, effective as of May 9, 2011. Previous senior finance roles include Head of Finance/Finance Manager for Eni International Resources Limited, a subsidiary of Eni S.P.A.; Financial Controller for Weatherly International; Financial Controller for UK Online, a subsidiary of BSKYB; and Senior Auditor with Ernst & Young.
RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (TSX: RY, NYSE:L RY) announced the appointment of Stephen Krag as Chief Financial Officer Europe. Mr. Krag has joined from Daiwa Capital Markets Europe where he was Chief Financial Officer. Prior to this, Mr. Krag was Chief Operating Officer for HBOS Treasury Services and held a number of senior finance positions within capital markets, equities and global financial market businesses for NatWest Securities. Mr. Krag will be based in London and reports to John Burbidge, CEO, Europe, RBC Capital Markets.
West Fraser (TSX: WFT) announced that Gerry Miller, Executive Vice-President, Finance and CFO will retire at the end of July 2011. Mr. Miller joined the Company in 1986 as Corporate Controller and has served West Fraser in a number of senior management roles in administration, operations and finance. Larry Hughes, Senior Vice-President and Secretary, will become Vice-President, Finance and CFO upon Mr. Miller's retirement. Mr. Hughes joined the Company in September of 2007 following a 27-year career as a corporate and commercial lawyer.
Fiber Optic Systems Technology, Inc. (TSX-V: FOX) announced that Sean Carr has resigned as Chief Financial Officer. Allen Lone, the President of the Corporation, has been appointed the interim Chief Financial Officer until such time that the Corporation completes its search for a permanent Chief Financial Officer.
Nextraction Energy Corp. (TSX-V: NE) announced that Scott David Badcock has been appointed as Chief Financial Officer of the Company. Prior to joining Nextraction, Mr. Badcock was employed by two of the world's largest professional service firms, Ernst & Young and Deloitte & Touche and has extensive oil and gas industry experience serving such clients as Paramount Resources Ltd., MGM Energy Corp. and British Petroleum PLC in Calgary, Alberta.
Katanga Mining Limited (TSX: KAT) announced that Nick Brodie, Chief Financial Officer and Secretary of the Company, has resigned. Mr. Brodie will remain available to ensure a smooth transition of responsibilities. Nico Paraskevas will serve as the new Chief Financial Officer and Acting Secretary of the Company. Mr. Paraskevas is currently Commercial Director of Kamoto Copper Company, a DRC-based subsidiary of Katanga.
RDM Corporation (TSX: RC) announced that Chief Financial Officer James Merwin has resigned from his position to pursue a similar role at a privately owned company. Mr. Merwin will continue in the role until the release of the second quarter results, expected to be on May 2, 2011. RDM has commenced a formal process to select a successor.
Symax Lift (Holding) Co. Ltd. (TSX-V: SYL) announced that Xiao Qin (Mary) Ma, the current Interim Chief Financial Officer and a Director of the Company, has been formally appointed to the position of Chief Financial Officer of the Company. Ms. Ma is also currently a director and Chief Financial Officer of Polo Biology Global Group Corporation. Amongst other positions held by Ms. Ma, she was the Financial Controller and Project Manager of Zongshen PEM Power Systems Inc., Financial Controller of Chongqing Lear Changan Interior Co., Ltd and Chief Financial Officer of Chongqing Skyman Industrial Group Co., Ltd.
Confederation Minerals Ltd. (TSX-V: CFM) announced the appointment of Savio Chiu as the chief financial officer and corporate secretary. Mr. Chiu is currently Senior Manager, Corporate Finance of Baron Global Financial Canada Ltd. Previously, he was a professional staff accountant with an international accounting firm where he gained valuable experience leading large teams for audits under Canadian GAAP for public multi-national clients.
If you have news about CFOs on the move, or any comments on this feature, please email us.
Hanfeng Evergreen Inc. (TSX: HF) announced that Niral V. Merchant has been appointed Chief Financial Officer, replacing Paul Begin whose resignation and transition was previously announced. Most recently, Mr. Merchant served as the CFO for Royal Laser Corp., a TSX listed steel fabrication and distribution company, which was acquired in 2010.
Titan Uranium Inc. (TSX-V: TUE, Frankfurt: T4X) announced that Rahoul Sharan, Director of Titan Uranium has been appointed CFO of the company, replacing Kelly McShane. Prior to joining Titan, Mr. Sharan was the Chairman of the Board of Uranium Power Corp. Mr. Sharan was a partner of the S&P Group, which specializes in investment financing for venture capital projects, real estate development and construction. Mr. Sharan is also the President of KJN Management Ltd., which provides a broad range of administrative, management and financial services. Mr. Sharan also serves as a Director and Officer for several other TSX Venture Exchange listed companies.
Stornoway Diamond Corporation (TSX: SWY) announced that Jean-Jacques Carrier, Senior Vice-President and Chief Financial and Risk Officer of Investissement Québec, has been appointed a director.
Essential Energy Services Ltd. (TSX: ESN) announced the combination of their business with Technicoil Corporation (TSX:TEC) and that the CFO of the combined entity will be Jeff Newman. Robert Sprinkhuysen, Chief Financial Officer of Technicoil, is expected to continue in an ongoing advisory role with the combined company on a transition basis.
Platmin Limited (TSX: PPN) announced the appointment of Craig Shaw as Chief Financial Officer. Wayne Koonin, Platmin's the current CFO, will hand over his responsibilities to Mr. Shaw in the coming weeks. For the past 14 years, Mr Shaw is currently Joint Head of the Natural Resources/Mining Corporate Finance team at Investec Corporate Finance, a division of Investec Bank Limited. Prior to joining Investec, Mr Shaw managed various listings on the London Stock Exchange and was the CFO of Cunico Nickel.
Seabridge Gold (TSX: SEA, NYSE Amex: SA) announced that Christopher J. Reynolds will join the Company as Vice President, Finance, Chief Financial Officer and Corporate Secretary effective May 1, 2011. Mr. Reynolds will be replacing Roderick Chisholm. Most recently, Mr. Reynolds was Vice President, Finance and Chief Financial Officer for Norsemont Mining Inc. which was acquired this year by HudBay Minerals Inc. Prior to Norsemont, Mr. Reynolds served in the same position with SouthernEra Diamonds Inc. which was purchased by Mwana Africa PLC in 2007. His experience also includes senior positions with Southern Platinum Corp., TVX Gold Inc. and Inmet Mining Corporation.
Everton Resources Inc. (TSX-V: EVR, FRANKFURT: ERV) announced the appointment of Judith Mazvihwa-MacLean as new Chief Financial Officer effective, replacing Khadija Abounaim. Prior to joining Everton Resources Inc., Ms. MacLean was the CFO for Logan Resources Ltd., and Acme Resources Inc. (formerly, International KRL Resources Corp.) from 2002 to 2010 and Golden Harp Resources Inc. from 2006 to 2009. She also served on the Boards of both Logan Resources Ltd., and Acme Resources Ltd. From 2001 through 2002, Ms. MacLean was the Exploration Geologist for Cumberland Resources Ltd. and Northgate Resources Ltd. in Canada. Previous to this, she was the Section Head and Section Geologist at Turk Mine and Queens Mine, Casmyn Mining Zimbabwe (Pvt) Ltd. and a Field Geologist for Prospecting Ventures Ltd., a subsidiary of Anglo-American Corp. in Zimbabwe.
Sono Resources Inc. (OTCQB: GVRS) announced the appointment of William D. Thomas as CFO of the Company. Most prominently, Mr. Thomas has held various management positions with Kerr McGee Corporation's operations in Beijing, China, ending in 2004 with his final position as Director of Business Services. From July 2007 to March 2010 he was the CFO for Hana Mining Ltd., a TSX-V company exploring for copper and silver in Botswana, Africa. Mr. Thomas also holds the position as CFO of Mainland Resources, an oil and gas exploration company based in Texas.
Vicwest Inc. (TSX: VIC) announced the appointment of Edward Mahood as interim Chief Financial Officer following the departure of John Slattery. Mr. Mahood was most recently EVP and CFO for Linamar Corp, a large publicly traded precision manufacturing company with a market capitalization of $1.4 billion. Prior to joining Linamar, Mr. Mahood held a series of increasingly senior finance positions at Toyota Motor Manufacturing Canada, including ultimately leading the finance department before joining Linamar in 2008.
CriticalControl Solutions Corp. (TSX: CCZ) announced the appointment of Bruce Byford as Chief Financial Officer of the Corporation. Hashu Remtulla, formerly VP and CFO will remain with CriticalControl in the newly formed role of Vice President and Corporate Controller.
Orezone Gold Corporation (TSX: ORE) announced that Sean Homuth has returned, after a brief absence, to the position of Chief Financial Officer. Joe McCoy is now VP Administration for Orezone and CFO for Brighton Energy Corp (67% owned by Orezone).
Arian Silver Corporation (TSX-V: AGQ) announced the appointment of Samuel Clarke as the Company's Chief Financial Officer, effective as of May 9, 2011. Previous senior finance roles include Head of Finance/Finance Manager for Eni International Resources Limited, a subsidiary of Eni S.P.A.; Financial Controller for Weatherly International; Financial Controller for UK Online, a subsidiary of BSKYB; and Senior Auditor with Ernst & Young.
RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (TSX: RY, NYSE:L RY) announced the appointment of Stephen Krag as Chief Financial Officer Europe. Mr. Krag has joined from Daiwa Capital Markets Europe where he was Chief Financial Officer. Prior to this, Mr. Krag was Chief Operating Officer for HBOS Treasury Services and held a number of senior finance positions within capital markets, equities and global financial market businesses for NatWest Securities. Mr. Krag will be based in London and reports to John Burbidge, CEO, Europe, RBC Capital Markets.
West Fraser (TSX: WFT) announced that Gerry Miller, Executive Vice-President, Finance and CFO will retire at the end of July 2011. Mr. Miller joined the Company in 1986 as Corporate Controller and has served West Fraser in a number of senior management roles in administration, operations and finance. Larry Hughes, Senior Vice-President and Secretary, will become Vice-President, Finance and CFO upon Mr. Miller's retirement. Mr. Hughes joined the Company in September of 2007 following a 27-year career as a corporate and commercial lawyer.
Fiber Optic Systems Technology, Inc. (TSX-V: FOX) announced that Sean Carr has resigned as Chief Financial Officer. Allen Lone, the President of the Corporation, has been appointed the interim Chief Financial Officer until such time that the Corporation completes its search for a permanent Chief Financial Officer.
Nextraction Energy Corp. (TSX-V: NE) announced that Scott David Badcock has been appointed as Chief Financial Officer of the Company. Prior to joining Nextraction, Mr. Badcock was employed by two of the world's largest professional service firms, Ernst & Young and Deloitte & Touche and has extensive oil and gas industry experience serving such clients as Paramount Resources Ltd., MGM Energy Corp. and British Petroleum PLC in Calgary, Alberta.
Katanga Mining Limited (TSX: KAT) announced that Nick Brodie, Chief Financial Officer and Secretary of the Company, has resigned. Mr. Brodie will remain available to ensure a smooth transition of responsibilities. Nico Paraskevas will serve as the new Chief Financial Officer and Acting Secretary of the Company. Mr. Paraskevas is currently Commercial Director of Kamoto Copper Company, a DRC-based subsidiary of Katanga.
RDM Corporation (TSX: RC) announced that Chief Financial Officer James Merwin has resigned from his position to pursue a similar role at a privately owned company. Mr. Merwin will continue in the role until the release of the second quarter results, expected to be on May 2, 2011. RDM has commenced a formal process to select a successor.
Symax Lift (Holding) Co. Ltd. (TSX-V: SYL) announced that Xiao Qin (Mary) Ma, the current Interim Chief Financial Officer and a Director of the Company, has been formally appointed to the position of Chief Financial Officer of the Company. Ms. Ma is also currently a director and Chief Financial Officer of Polo Biology Global Group Corporation. Amongst other positions held by Ms. Ma, she was the Financial Controller and Project Manager of Zongshen PEM Power Systems Inc., Financial Controller of Chongqing Lear Changan Interior Co., Ltd and Chief Financial Officer of Chongqing Skyman Industrial Group Co., Ltd.
Confederation Minerals Ltd. (TSX-V: CFM) announced the appointment of Savio Chiu as the chief financial officer and corporate secretary. Mr. Chiu is currently Senior Manager, Corporate Finance of Baron Global Financial Canada Ltd. Previously, he was a professional staff accountant with an international accounting firm where he gained valuable experience leading large teams for audits under Canadian GAAP for public multi-national clients.
If you have news about CFOs on the move, or any comments on this feature, please email us.
Tuesday, April 5, 2011
A CFO is an Artist...
...and a Controller is a Scientist.
A Successful CFO needs creativity, personality, some acting, and an ability to lead people inside and outside the company.
A Successful Controller needs math, process and critical thinking. Personality is less important than getting the numbers done right and on time.
My previous blog post 6 Things Real CFOs Do Not Do received some significant feedback in this LinkedIn Group. The general feeling (with some exceptions) was that there is a significant difference between a CFO and a Controller, but they both need each other.
Just like any artist needs their support team to shine, a CFO is no different. Scratch any Strong CFO and you will find a strong and capable finance team and Controller.
A Successful CFO needs creativity, personality, some acting, and an ability to lead people inside and outside the company.
A Successful Controller needs math, process and critical thinking. Personality is less important than getting the numbers done right and on time.
My previous blog post 6 Things Real CFOs Do Not Do received some significant feedback in this LinkedIn Group. The general feeling (with some exceptions) was that there is a significant difference between a CFO and a Controller, but they both need each other.
Just like any artist needs their support team to shine, a CFO is no different. Scratch any Strong CFO and you will find a strong and capable finance team and Controller.
Sunday, April 3, 2011
Canadian CFOs on the Move – week ending April 1, 2011
Companies with CFOs on the Move this week include: CIBC, Redishred Capital Corp., Tuscany International Drilling Inc., IBI Group Inc., Mercury Filmworks, Prism Medical Ltd., Shear Diamonds Ltd., Josephine Mining Corp., Aldridge Minerals Inc., MGold Resources Inc., Resinco Capital Partners Inc., Electric Metals Inc., Grizzly Discoveries Inc. , Novadx Ventures Corp., Sino Vanadium Inc., Toronto Community Housing, Priszm Income Fund
CIBC (TSX: CM, NYSE: CM) announced that Kevin Glass has been named Senior Executive Vice President, CIBC, and Chief Financial Officer replacing David Williamson. As part of this role, Kevin will become a member of the bank's Senior Executive Team, reporting to the CEO. Kevin has been with CIBC since January 2009. Prior to joining CIBC, Kevin was Chief Financial Officer of a number of Canadian companies
Redishred Capital Corp. (TSX-V: KUT) announced the appointment of Jeffrey Hasham as its new Chief Executive Officer. Mr. Hasham has been Redishred’s Chief Financial Officer since March 2008. Robert Crozier will be stepping down as the Chief Executive Officer. In addition to the appointment of Mr. Hasham to Chief Executive Officer, Redishred is also pleased to announce the appointment of Kasia Pawluk, to the position of Chief Financial Officer.
Tuscany International Drilling Inc. (TSX: TID) announced that Matt Moorman, presently the Executive Vice President, Corporate Finance and Business Development of the Corporation, was appointed the Chief Financial Officer of the Corporation and the current Chief Financial Officer, Bruce Moyes, was appointed Vice President, Finance and Reporting. Before joining the Corporation in August of 2010, Mr. Moorman acted as Vice President Finance and Treasurer with Provident Energy Ltd. since 2003. Prior thereto, he acted as a member of the senior management team with TransAlta Corporation and TransAlta Power Income Trust, serving in senior financial and commercial positions from 1997 to 2003. Prior to joining the Corporation, Mr. Moyes acted as Vice President, Finance and Treasurer of Ensign Energy Services Inc., a land-based international oilfield services contractor whose shares are listed on the TSX. Prior thereto, Mr. Moyes was a Manager of Financial Planning and Analysis at Canadian Pacific Limited from 1996 to 1999.
IBI Group Inc. (TSX: IBG) is pleased to announce the appointment of Michel Poitras as Interim Chief Financial Officer. Michel Poitras replaces Allan Kamerman, who is departing IBI Group Inc. Prior to joining the IBI/DAA group, Mr. Poitras was a partner with Raymond Chabot Grant Thornton.
Mercury Filmworks announced the promotion of Sandra Green from Director of Finance to Vice President, Finance. In her new position Green will report directly to Mercury President Clint Eland and oversee all aspects of the company’s production and corporate finances. Green, a 15 year veteran of the Canadian entertainment industry, joined Mercury Filmworks in 2004 as a corporate controller after working at several Ottawa production companies including MTR Entertainment and Lacewood Productions.
Prism Medical Ltd. (TSX-V: PM), announced the appointment of George Chiarucci to the position of Chief Financial Officer, succeeding William Edwards, who now holds a key senior operational role with Prism Medical as Executive Vice President, Operations. Mr. Chiarucci previously served as Chief Financial Officer with TSX-listed companies including Atlantis Systems Corp., Timminco Ltd., and Cymat Corp.
Shear Diamonds Ltd. (TSX-V: SRM) announced the appointment of Gregory Rieveley to the Company's Board of Directors. Mr. Rieveley is currently the Chief Financial Officer of Noront Resources Ltd.; previously he held the position of Vice President, Internal Audit and Business Development at Harry Winston Diamond Corporation (formerly Aber Diamond Corporation), and prior to that he was the Controller for Dundee Precious Metals. Mr. Rieveley will be a member of the Shear's Audit Committee and Compensation Committee. The appointment of Mr. Rieveley follows the resignation of Dr. Keith Barron. Dr. Barron will continue his involvement with Shear through his appointment to the Advisory Board.
Josephine Mining Corp. (TSX-V: JMC) announced that R. Llee Chapman will fill the position Chief Financial Officer and will be a Director. Mr. Chapman's mining experience includes public company CFO level management in positions with Barrick Goldstrike Mines, Apollo Gold Inc., Knight Piesold & Co. and Idaho General Mines (now General Moly, Inc.). He managed accounting controls at Gold Fields Limited – Chimney Creek Mine and Asarco, Inc.
Aldridge Minerals Inc. (TSX-V: AGM) announced that its CFO, Ed Badida, will be leaving the Company and will remain available to assist the Company with its transition to a new CFO. Carmelo Marrelli has been appointed the Company's interim CFO. Mr. Marrelli is the President of Marrelli Support Services Inc., which Aldridge retained in January to provide ongoing bookkeeping and accounting services.
MGold Resources Inc. (TSX-V: MNI) appointed Marc R. Poitras as Chief Financial Officer and a Director of the Company. Mr. Poitras is currently the Managing Partner at Poitras & Poitras Professional Corporation, Chartered Accountants, located in Sudbury, Ontario. Mr. Poitras has been owner/manager of a public accounting practice since 1993. Mr. Poitras replaces Douglas Reeson who has been active with the Company since 1993 and has acted as the Chief Financial Officer for the past several years. Mr. Reeson will remain as a Director of the Company.
Resinco Capital Partners Inc. (TSX: RIN, FRANKFURT:L6V) announced that David McAdam has joined Resinco as Chief Financial Officer, replacing Jon Lever. Mr. McAdam has held various senior financial and operational positions ranging from CFO of start-up companies listed on the TSX Venture Exchange through to VP Operations and Finance Director of a Fortune 150 company based in Houston, Texas.
Electric Metals Inc. (TSX-V: EMI) announced the resignation of Donald Currie as Acting President of the Company. Tony Ricci, formerly Chief Financial Officer has now been appointed President and CEO of the Company. The Company is pleased to appoint Zula Kropivnitski to the position of Chief Financial Officer. Prior to joining Electric Metals Inc., Ms. Kropivnitski acted as the Controller to Sacre-Coeur Minerals and African Queen Mines Ltd, companies involved in exploration and production activities in Africa and South America. Before that, Ms. Kropivnitski served as Senior Accountant to Manex Resource Group and its group of mining exploration companies with interests in properties in Canada, the United States and Mexico.
Grizzly Discoveries Inc. (TSX-V: GZD, OTCQX: GZDIF, FRANKFURT:G6H) announced the appointment of Jeremy Strautman as the Interim Chief Financial Officer ("CFO") of the Corporation following the resignation of Sean Mager. Mr. Mager will stay on as a director of the Corporation. Mr. Strautman is a managing partner and Operations Manager of Myriad Corporate Services, which provides accounting and administrative support to several public and private companies, specializing in the junior mineral exploration industry, since January 2010. Prior to 2010, Mr. Strautman was an employee of an unrelated junior mineral exploration company since 2005 where he also provided services to Grizzly on an excess capacity basis since 2006. Mr. Strautman is also the Chief Financial Officer of Altiplano Minerals Ltd., a TSXV-listed junior mineral exploration company.
Novadx Ventures Corp. (TSX-V: NDX) announced that its wholly-owned subsidiary, MCoal Corporation has appointed Gregory Saragas as Vice President, Finance. Mr. Saragas joins MCoal from Nystar Americas, a global multi-metals company, with zinc mining and smelting operations in Tennessee. Prior to joining Nyrstar, Mr. Saragas held the positions of Regional Accounting Officer with Massey Energy, the largest coal producer in Central Appalachia and Chief Financial Officer of Debra Lynn Coals, Inc.
Sino Vanadium Inc. (TSX-V: SVX) announced that Harvey McKenzie, the Chief Financial Officer of the company, has tendered his resignation. The company has appointed Wingfield Ding as the company's new Chief Financial Officer. Mr. Ding has years of experience in auditing Asian and North American companies, and has served as CFO for public companies in Canada and corporations with operations in China.
Toronto Community Housing announced that Len Koroneos will serve as Toronto Community Housing's interim Chief Executive Officer. Mr. Koroneos will perform the role on an interim basis until the company's new board of directors completes the search for a permanent chief executive officer later this year. Mr. Koroneos joined the company in September 2010 as Chief Financial Officer. He will continue to oversee the duties of the Chief Financial Officer together with the current management staff. Prior to joining Toronto Community Housing, Mr. Koroneos spent 22 years with a major health care services corporation operating in Canada and the United States, where he held senior management positions of vice-president taxation, treasurer, and vice president business development. He gained extensive experience in taxation, accounting, auditing and finance while working for KPMG, an international accounting firm.
Priszm Income Fund (TSX: QSR.UN) and its affiliates (collectively "Priszm" or the "Company") announced today that, in order to facilitate the sale of its restaurants, it has applied for and successfully obtained an Order from the Ontario Superior Court of Justice (Commercial Division) under the Companies' Creditors Arrangement Act ("CCAA"). As part of the Restructuring, the duties of the Chief Restructuring Officer will be executed by Deborah Papernick, the current chief financial officer of the Company.
If you have news about CFOs on the move, or any comments on this feature, please email us.
CIBC (TSX: CM, NYSE: CM) announced that Kevin Glass has been named Senior Executive Vice President, CIBC, and Chief Financial Officer replacing David Williamson. As part of this role, Kevin will become a member of the bank's Senior Executive Team, reporting to the CEO. Kevin has been with CIBC since January 2009. Prior to joining CIBC, Kevin was Chief Financial Officer of a number of Canadian companies
Redishred Capital Corp. (TSX-V: KUT) announced the appointment of Jeffrey Hasham as its new Chief Executive Officer. Mr. Hasham has been Redishred’s Chief Financial Officer since March 2008. Robert Crozier will be stepping down as the Chief Executive Officer. In addition to the appointment of Mr. Hasham to Chief Executive Officer, Redishred is also pleased to announce the appointment of Kasia Pawluk, to the position of Chief Financial Officer.
Tuscany International Drilling Inc. (TSX: TID) announced that Matt Moorman, presently the Executive Vice President, Corporate Finance and Business Development of the Corporation, was appointed the Chief Financial Officer of the Corporation and the current Chief Financial Officer, Bruce Moyes, was appointed Vice President, Finance and Reporting. Before joining the Corporation in August of 2010, Mr. Moorman acted as Vice President Finance and Treasurer with Provident Energy Ltd. since 2003. Prior thereto, he acted as a member of the senior management team with TransAlta Corporation and TransAlta Power Income Trust, serving in senior financial and commercial positions from 1997 to 2003. Prior to joining the Corporation, Mr. Moyes acted as Vice President, Finance and Treasurer of Ensign Energy Services Inc., a land-based international oilfield services contractor whose shares are listed on the TSX. Prior thereto, Mr. Moyes was a Manager of Financial Planning and Analysis at Canadian Pacific Limited from 1996 to 1999.
IBI Group Inc. (TSX: IBG) is pleased to announce the appointment of Michel Poitras as Interim Chief Financial Officer. Michel Poitras replaces Allan Kamerman, who is departing IBI Group Inc. Prior to joining the IBI/DAA group, Mr. Poitras was a partner with Raymond Chabot Grant Thornton.
Mercury Filmworks announced the promotion of Sandra Green from Director of Finance to Vice President, Finance. In her new position Green will report directly to Mercury President Clint Eland and oversee all aspects of the company’s production and corporate finances. Green, a 15 year veteran of the Canadian entertainment industry, joined Mercury Filmworks in 2004 as a corporate controller after working at several Ottawa production companies including MTR Entertainment and Lacewood Productions.
Prism Medical Ltd. (TSX-V: PM), announced the appointment of George Chiarucci to the position of Chief Financial Officer, succeeding William Edwards, who now holds a key senior operational role with Prism Medical as Executive Vice President, Operations. Mr. Chiarucci previously served as Chief Financial Officer with TSX-listed companies including Atlantis Systems Corp., Timminco Ltd., and Cymat Corp.
Shear Diamonds Ltd. (TSX-V: SRM) announced the appointment of Gregory Rieveley to the Company's Board of Directors. Mr. Rieveley is currently the Chief Financial Officer of Noront Resources Ltd.; previously he held the position of Vice President, Internal Audit and Business Development at Harry Winston Diamond Corporation (formerly Aber Diamond Corporation), and prior to that he was the Controller for Dundee Precious Metals. Mr. Rieveley will be a member of the Shear's Audit Committee and Compensation Committee. The appointment of Mr. Rieveley follows the resignation of Dr. Keith Barron. Dr. Barron will continue his involvement with Shear through his appointment to the Advisory Board.
Josephine Mining Corp. (TSX-V: JMC) announced that R. Llee Chapman will fill the position Chief Financial Officer and will be a Director. Mr. Chapman's mining experience includes public company CFO level management in positions with Barrick Goldstrike Mines, Apollo Gold Inc., Knight Piesold & Co. and Idaho General Mines (now General Moly, Inc.). He managed accounting controls at Gold Fields Limited – Chimney Creek Mine and Asarco, Inc.
Aldridge Minerals Inc. (TSX-V: AGM) announced that its CFO, Ed Badida, will be leaving the Company and will remain available to assist the Company with its transition to a new CFO. Carmelo Marrelli has been appointed the Company's interim CFO. Mr. Marrelli is the President of Marrelli Support Services Inc., which Aldridge retained in January to provide ongoing bookkeeping and accounting services.
MGold Resources Inc. (TSX-V: MNI) appointed Marc R. Poitras as Chief Financial Officer and a Director of the Company. Mr. Poitras is currently the Managing Partner at Poitras & Poitras Professional Corporation, Chartered Accountants, located in Sudbury, Ontario. Mr. Poitras has been owner/manager of a public accounting practice since 1993. Mr. Poitras replaces Douglas Reeson who has been active with the Company since 1993 and has acted as the Chief Financial Officer for the past several years. Mr. Reeson will remain as a Director of the Company.
Resinco Capital Partners Inc. (TSX: RIN, FRANKFURT:L6V) announced that David McAdam has joined Resinco as Chief Financial Officer, replacing Jon Lever. Mr. McAdam has held various senior financial and operational positions ranging from CFO of start-up companies listed on the TSX Venture Exchange through to VP Operations and Finance Director of a Fortune 150 company based in Houston, Texas.
Electric Metals Inc. (TSX-V: EMI) announced the resignation of Donald Currie as Acting President of the Company. Tony Ricci, formerly Chief Financial Officer has now been appointed President and CEO of the Company. The Company is pleased to appoint Zula Kropivnitski to the position of Chief Financial Officer. Prior to joining Electric Metals Inc., Ms. Kropivnitski acted as the Controller to Sacre-Coeur Minerals and African Queen Mines Ltd, companies involved in exploration and production activities in Africa and South America. Before that, Ms. Kropivnitski served as Senior Accountant to Manex Resource Group and its group of mining exploration companies with interests in properties in Canada, the United States and Mexico.
Grizzly Discoveries Inc. (TSX-V: GZD, OTCQX: GZDIF, FRANKFURT:G6H) announced the appointment of Jeremy Strautman as the Interim Chief Financial Officer ("CFO") of the Corporation following the resignation of Sean Mager. Mr. Mager will stay on as a director of the Corporation. Mr. Strautman is a managing partner and Operations Manager of Myriad Corporate Services, which provides accounting and administrative support to several public and private companies, specializing in the junior mineral exploration industry, since January 2010. Prior to 2010, Mr. Strautman was an employee of an unrelated junior mineral exploration company since 2005 where he also provided services to Grizzly on an excess capacity basis since 2006. Mr. Strautman is also the Chief Financial Officer of Altiplano Minerals Ltd., a TSXV-listed junior mineral exploration company.
Novadx Ventures Corp. (TSX-V: NDX) announced that its wholly-owned subsidiary, MCoal Corporation has appointed Gregory Saragas as Vice President, Finance. Mr. Saragas joins MCoal from Nystar Americas, a global multi-metals company, with zinc mining and smelting operations in Tennessee. Prior to joining Nyrstar, Mr. Saragas held the positions of Regional Accounting Officer with Massey Energy, the largest coal producer in Central Appalachia and Chief Financial Officer of Debra Lynn Coals, Inc.
Sino Vanadium Inc. (TSX-V: SVX) announced that Harvey McKenzie, the Chief Financial Officer of the company, has tendered his resignation. The company has appointed Wingfield Ding as the company's new Chief Financial Officer. Mr. Ding has years of experience in auditing Asian and North American companies, and has served as CFO for public companies in Canada and corporations with operations in China.
Toronto Community Housing announced that Len Koroneos will serve as Toronto Community Housing's interim Chief Executive Officer. Mr. Koroneos will perform the role on an interim basis until the company's new board of directors completes the search for a permanent chief executive officer later this year. Mr. Koroneos joined the company in September 2010 as Chief Financial Officer. He will continue to oversee the duties of the Chief Financial Officer together with the current management staff. Prior to joining Toronto Community Housing, Mr. Koroneos spent 22 years with a major health care services corporation operating in Canada and the United States, where he held senior management positions of vice-president taxation, treasurer, and vice president business development. He gained extensive experience in taxation, accounting, auditing and finance while working for KPMG, an international accounting firm.
Priszm Income Fund (TSX: QSR.UN) and its affiliates (collectively "Priszm" or the "Company") announced today that, in order to facilitate the sale of its restaurants, it has applied for and successfully obtained an Order from the Ontario Superior Court of Justice (Commercial Division) under the Companies' Creditors Arrangement Act ("CCAA"). As part of the Restructuring, the duties of the Chief Restructuring Officer will be executed by Deborah Papernick, the current chief financial officer of the Company.
If you have news about CFOs on the move, or any comments on this feature, please email us.
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