The Financial Statement

CFO2Grow: New Focus. New Leadership.

2011-07-05T07:30:00.005-04:00

Over the past 11 years CFO2Grow has become a leader in the field of financial recruiting and looks forward to the future as it serves its clients, as one of Canada most trusted Financial Recruitment firms and CFO Search specialists.

While CFO2Grow continues to play a leading role in the Canadian market, Co-Founder of CFO2Grow, Mr. Samuel Dergel, CA, CPA, CPC will be stepping down as President to pursue other areas in business outside the arena of CFO2Grow. CFO2Grow’s leaders Mr. Jonathan Buzelan, CHRP and Mr. Paul Landry, CA, CPC and its staff wish Mr. Dergel much success in his future endeavors.

In November 2000, CFO2Grow began providing financial-consulting services, such as Part-CFO and other management-consulting to small and medium size Montreal businesses. Recognizing market opportunity and the vision to develop CFO2Grow in other practice areas, Mr. Dergel solicited Mr. Jonathan Buzelan, CHRP to join the firm as a Co-Founder and Senior Partner, in order to create and develop the firm’s Financial Recruitment Practice.

Alongside Mr. Buzelan, in CFO2Grow’s push towards the future is current Partner and Western Canada Practice Leader, Mr. Paul Landry, CA, CPC. Mr. Landry joined the firm in 2004 and offers a multitude of experiences, working with leading Canadian and multinational corporations, in the Financial Recruitment and CFO Search Practice for the Western Canadian Market.

The leadership of CFO2Grow looks forward to future successful ventures with its current and prospective clients in the Canadian business community.

For more information on CFO2Grow visit our website at www.cfo2grow.com or call us at 1-866-739-4857.

Canadian CFOs on the Move - week ending June 10, 2011

2011-06-12T21:45:00.020-04:00

Companies with CFOs on the Move this week include: Ridgemont Iron Ore Corp., Calvalley Petroleum Inc., Noveko International Inc., CE Franklin Ltd., Atlantis Systems Corp.

Ridgemont Iron Ore Corp. (TSX-V: RDG) announced the appointment of Yvette Harrison as Chief Financial Officer. Ms. Harrison has worked as Chief Financial Officer, VP Finance, Director Finance, Controller and Consultant with numerous public and private companies. Ms. Harrison is replacing Anna Ladd as CFO.

Calvalley Petroleum Inc. (TSX: CVI.A) announced the appointment of Gerry J. Elms as Chief Financial Officer. From 1997 to 2005, Mr. Elms was Vice President, Finance and Corporate Secretary of Penn West Petroleum Ltd. Mr. Elms joined Penn West in 1994 as part of the management team that executed a strategy to significantly increase production and reserves, as well as shareholder value, through a combination of organic growth and corporate acquisitions. Since 2005, Mr. Elms has been Vice President, Finance and CFO at two private start-up oil and gas companies. From 1981 until he joined Penn West, Mr. Elms held various financial management positions with Petro-Canada and NOVA Corporation. The Company also announced that Zacharie Magnan, who has been the Acting CFO of Calvalley, will continue his significant service with the Company as Vice-President of Finance.

Noveko International Inc. (TSX: EKO) announced that Éric Phaneuf, Senior Vice-President and Chief Financial Officer of the Company, has decided, for strictly personal reasons, to reorient his career and has accepted a position with another company. Until his replacement, André Leroux, Chairman of the Board and Chief Executive Officer of the Company, will also act, on an interim basis, as Chief Financial Officer.

CE Franklin Ltd. (TSX.CFT, NASDAQ.CFK) announced the promotion of Derren Newell to the position of CFO. Mr. Newell, previously Financial Controller has extensive experience and expertise in finance, accounting, audit, tax and a wealth of experience with strategic and operational support in the energy and distribution industries. Mr. Newell succeeds Mark Schweitzer who is leaving CE Franklin to pursue an opportunity with an oil sands development company.

Atlantis Systems Corp. (NEX: AIQ.H) today announced the appointment of Anne-Marie Gammon as Chief Financial Officer. Anne-Marie replaces Ron Brown who has been the Interim CFO since February 2010 and who will remain with Atlantis for a transition period to support Anne-Marie.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move - week ending June 3, 2011

2011-06-05T21:45:00.001-04:00

Companies with CFOs on the Move this week include: Hart Stores, Khan Resources Inc., Corvus Gold Inc., CCL Industries Inc., Trevali Mining Corporation, GT Canada Medical Properties REIT, Marfil Mines Ltd., DDS Wireless International Inc., ID Watchdog, Inc., Western Wind Energy Corp., Cream Minerals Ltd., General Donlee Canada Inc., Acceleware® Ltd., Stoneset, DirectCash Payments Inc., Alamos Gold Inc.

Hart Stores (TSX: HIS) announced the appointment of Robert Harritt as Vice President Finance and Chief Financial Officer of the Company. Mr. Harritt has held the position of Vice-President of Finance in a number of highly successful public and private Quebec based firms over the last twenty-five years, including Rona and Hartco to name a few.

Khan Resources Inc. (TSX: KRI) announced that it has appointed K. Bruce Gooding as Chief Financial Officer. Mr. Gooding was most recently in his own practice providing project and management services to the mining and other industries. Mr. Gooding replaces Paul D. Caldwell, the outgoing Chief Financial Officer.

Corvus Gold Inc. (TSX: KOR, OTCQX: CORVF) announced the appointment of Peggy Wu as the Company's new Chief Financial Officer. Ms. Wu succeeds former CFO Michael Kinley who will remain with the Company as a consultant through a transition period before leaving to pursue other opportunities. Ms. Wu is currently the CFO for Indico Resources Inc. as well as the Financial Reporting Specialist for the Cardero Group of Companies, which include Balmoral Resources Ltd. and Abzu Gold Ltd.

CCL Industries Inc. (TSX: CCL.A, CCL.B) announced that Gaston Tano, Senior Vice President and Chief Financial Officer, has tendered his resignation to accept a new position, in a similar capacity, at a consumer products company in the private sector and will be leaving CCL at the beginning of August following the release of the Company's second quarter earnings.

Trevali Mining Corporation (TSX: TV, OTCQX: TREVF, FRANKFURT: 4TI) announced the appointment of Anna Ladd as its Chief Financial Officer. Anna has served as Vice President Finance and Chief Financial Officer for a number of TSX listed junior mining and development companies in addition to several mid-size to senior gold and base metal producers including Grande Cache Coal's operations, Kinross Gold Corporation's Fort Knox, Round Mountain and Kettle River operations and Vale Inco's Thompson and Sudbury base metal operations. Concurrent with Ms. Ladd's appointment, Michael Kinley has stepped-down as CFO in order to devote more time to several early-stage exploration companies of which he is also the Chief Financial Officer.

GT Canada Medical Properties REIT (TSX-V: MOB.UN) announced that Sean Nakamoto has resigned as Chief Financial Officer to pursue other opportunities. Mr. Nakamoto has agreed that his resignation will be effective after the release of the REIT's financial statements and MD&A for the recent quarter.

Marfil Mines Ltd. (TSX-V: MFM) announced the appointment of Matthew A. Fowler to the position of Chief Financial Officer of the Company. Mr. Fowler has been the Interim CFO of the Company since October 2010. Mr. Fowler serves as a Senior Consultant with Sharp Executive Associates, Inc., an international financial consultancy assisting private, USA, and Canadian listed public companies with accounting and regulatory compliance needs. Mr. Fowler served as a partner, CFO and CCP at Strata Partners, LLC, a boutique investment bank based in Seattle, Washington where he was responsible for capital raising as well as all financial, operational and compliance requirements with the Financial Industry Regulatory Authority.

DDS Wireless International Inc. (TSX: DD) announced that its Chief Financial Officer and Corporate Secretary, Jim Zadra, is leaving the Company to pursue other opportunities. Mr. Zadra has been with DDS for almost three years and will remain on with DDS through to the end of August to ensure an orderly transition.

ID Watchdog, Inc. (TSX-V: IDW, OTC: IDWAF) announced that the Company has named Jay Lewis as its new Chief Financial Officer. Mr. Lewis will be replacing Dennis Perkins who is leaving the Company after four years of service. Prior to joining ID Watchdog, Jay served as the CFO of Jones Media Networks, a Denver, Colorado based media company.

Western Wind Energy Corp. (TSX-V: WND) announced that Chris Thompson, the CFO, has been promoted to the position of Senior Vice President - Project Finance and Keven Craig, the Corporate Finance Manager, has been promoted to Chief Financial Officer of the Company.

Cream Minerals Ltd. (TSX-V: CMA) announced that Angela Yap has been appointed the Chief Financial Officer of the Company. Ms. Yap has previously held successively senior positions, most recently as Director of Corporate Accounting with the Anthem Properties Group. Ms. Yap replaces Shannon Ross, who served as Chief Financial Officer and Corporate Secretary of the Company since 2000.

General Donlee Canada Inc. (TSX: GDI) announced that Michael Snow, President and Chief Executive Officer, will be leaving the Company, and has named the Company's Chief Financial Officer, Garen Mikirditsian, as interim CEO until a new CEO is appointed.

Acceleware® Ltd. (TSX-V: AXE) announced that Heather Stubbs has been appointed Chief Financial Officer of Acceleware. Prior to joining Acceleware, Ms. Stubbs was the Manager of Financial Reporting for Peak Energy Services Ltd., a publicly held energy services company.

Stoneset (CNSX: SQC) has announced that Anna Lentz of Brava CFO Services Inc. has submitted her resignation to Stoneset due to other commitments with other clients. Peter Jarman will act as interim CFO.

DirectCash Payments Inc. (TSX: DCI) announced that Brian Kathol has joined the company 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"). Claudette M. Dick will return to the position of Vice President of Finance at DirectCash. Mr. Kathol brings with him recent experience as Vice President of Technologies (from 2007 to 2010) and prior as Vice President of Finance and Administration (from 2004 to 2007) at Enersul Inc., a private sulphur processing corporation.

Alamos Gold Inc. (TSX: AGI) announced that James R. Porter, previously Alamos' Vice President of Finance, has been promoted to Chief Financial Officer of the Company. Mr. Porter has been with the Company for nearly six years, joining Alamos in 2005 as Controller. Prior to joining Alamos, Mr. Porter held the position of Controller and Corporate Secretary for another publicly-listed gold producing company and was a manager in the assurance practice at PricewaterhouseCoopers. Mr. Porter's appointment follows the retirement of Jon Morda, Alamos' Chief Financial Officer since 2004.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move - week ending May 27, 2011

2011-05-29T21:45:00.001-04:00

Companies with CFOs on the Move this week include: CAE Inc., MBMI Resources Inc., Eldorado Gold Corporation, Imaging Dynamics Company Ltd., Everton Resources Inc., Home Capital Group Inc., Liquid Nutrition Group Inc., Divestco Inc., Sagres Energy Inc., Mistango River Resources, Redzone Resources Ltd., Central Iron Ore Limited, Sonde Resources Corp., PanTerra Resource Corp., Big Eagle Services, Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), Northern Lion Gold Corp.

CAE Inc. (TSX: CAE, NYSE: CAE) announced the appointment of Stéphane Lefebvre as Vice President, Finance and Chief Financial Officer effective immediately. Mr. Lefebvre replaces Alain Raquepas who is leaving the company. Mr. Lefebvre as been an executive with CAE since 1997, most recently as Vice President, Finance, Military and New Core Markets. Mr. Lefebvre joined CAE as Structured Finance Manager in 1997 and became a director in 2000. Over the years, Mr. Lefebvre has held senior posts with responsibilities in the U.K., Australia and Canada. In 2005, he was named Vice-President, Finance, Military, and, later in the year, he added the responsibility of the Civil Simulation Products segment. CAE provides its military customers simulation products and training services at more than 60 locations worldwide. Mr. Lefebvre sits on a number of CAE boards including Rotorsim, a consortium held by CAE and AgustaWestland, a Finmeccanica company. He is also on the Board of The Helicopter Academy to Train by Simulation of Flying (HATSOFF), a joint venture of Hindustan Aeronautics Limited (HAL) of India and CAE.

MBMI Resources Inc. (TSX-V: MBR) announced that John F. Cook has been appointed as Executive Vice President and interim Chief Financial Officer of the Company. Mr. Cook has held the position of independent director and qualified person of MBMI since March, 2003. A Professional Mining Engineer, Mr. Cook has more than 45 years of extensive experience in all facets of mining development, operations and management. Currently Mr. Cook is the President and CEO of Firebird Resources Inc. and a director of Strategic Resources Inc., Southern Andes Energy Inc., Cerro Resources Inc., Nord Resources Corp., and Homeland Uranium Inc. Past positions include President of San Anton Resources, Chairman of Premier Gold and Chairman of Wolfden Resources Inc. Adrian Rothwell, the Company's former Chief Financial Officer, is resigning due to his other significant work commitments.

Eldorado Gold Corporation (TSX: ELD, NYSE: EGO, ASX:EAU) announced that Ed Miu has resigned his position as Chief Financial Officer to pursue other endeavors. Ed joined Eldorado from Sino Gold in December 2009 and has assisted in the integration of the Sino Gold assets as well as leading the finance department over the past one a half years. Fabiana Chubbs, currently Eldorado's Treasurer and Risk Manager, will be assuming the role of Chief Financial Officer. Fabiana has been serving the Company in the role of Treasurer and Risk Manager. Fabiana joined Eldorado in July 2007 after a long association with the Company in her role of Senior Manager PricewaterhouseCoopers Audit Group.

Imaging Dynamics Company Ltd. (TSX: IDL) announced the appointment of Shameze Rampertab to the Board of Directors of IDC. Mr. Rampertab is a seasoned business finance leader in the healthcare sector with depth of experience in capital markets, finance, strategic planning and analysis. Mr. Rampertab is currently the Vice President Finance & Chief Financial Officer for Intellipharmaceutics International Inc. (NASDAQ:IPCI; TSX:I). Prior to this, he spent 14 years in capital markets serving the life sciences sector.

Everton Resources Inc. (TSX-V: EVR, FRANKFURT: ERV) announced that David Massola was elected to the Board of Directors of the Company. Mr. Massola was the Senior Vice President Finance and Chief Financial Officer of GlobeStar Mining Corporation between 2006 and 2011. While at GlobeStar, Mr. Massola was active in facilitating Perilya Ltd.'s (ASX:PEM) acquisition and integration of GlobeStar. Prior to joining GlobeStar, Mr. Massola was Chief Financial Officer of De Beers Canada Inc. ("De Beers") where he was in charge of all the financial aspects of the company's Canadian operations. Previous to De Beers, Mr. Massola spent 20 years with BHP-Billiton in various positions in Canada, Chile and the United States. He was Vice President of Finance of BHP-Billiton's Ekati Diamond Mine from 1997 through 2001, responsible for the financial aspects of the mine from the construction period through commercial production.

Home Capital Group Inc. (TSX: HCG) announced the appointment of Robert J. Blowes as Chief Financial Officer of Home Capital and its wholly owned subsidiary, Home Trust Company. Mr. Blowes joined the Company as Senior Vice President, Finance in November 2010. He is an experienced financial executive, having recently retired as a Partner at Ernst & Young, where he served a number of reporting issuers in the financial services and technology sectors over the course of a 35-year career.

Liquid Nutrition Group Inc. (TSX-V: LQD) announced the appointment of Mark O'Hara as Chief Financial Officer. Mr. O’Hara was the Chief Financial Officer for Air Liquide Middle East & North Africa FZCO, based in Dubai, where he led the start-up of all accounting and finance activities in the region. He began his career in public accounting with Price Waterhouse London (England) and Toronto offices.

Divestco Inc. (TSX-V: DVT) announced the departure of its Chief Financial Officer, Roderick Chisholm. For the near to medium term Stephen Popadynetz, the current CEO and President, will assume the role of Chief Financial Officer. Danny Chiarastella, Vice President Finance will report directly to Mr. Popadynetz.

Sagres Energy Inc. (TSX-V: SGI) announced the appointment of Darren Moulds as Chief Financial Officer. Mr. Moulds is concurrently the Chief Financial Officer with the Forbes Energy Group of Companies. Previously, Darren has held management positions in various financial capacities including the CFO of Africa Oil Corp. and the Financial Controller of Upstream Operations of Centurion Energy International Inc. (Dana Gas).

Mistango River Resources (CNSX: MIS) announced the appointment of Johnny Oliveira as the Chief Financial Officer. Previously, Robert J. Kasner, President and Chief Executive Officer of the Corporation, also served as the Corporation's acting Chief Financial Officer. Mr. Oliveira is serving as Controller and/or Chief Financial Officer of several junior mining and exploration companies listed on the CNSX, TSXV and TSX.

Redzone Resources Ltd. (TSX: REZ) reports that Pauline Pasetka has tendered her resignation as Chief Financial Officer, effective July 31, 2011, to pursue other interests. As of August 1, 2011, the Chief Financial Officer role will be assumed by Rebecca Moriarty. Ms. Moriarty is a senior consultant with Malaspina Consultants Inc. Malaspina offers junior public companies, on an out-sourced basis, financial reporting and management services. Prior to joining Malaspina, Ms. Moriarty worked for 11 years in the audit practice of an international accounting firm, the last seven years of which as a manager. During this time, she worked exclusively on clients in the resource sector. Ms. Moriarty is currently the Chief Financial Officer of Brea Resources Corp., a client of Malaspina.

Central Iron Ore Limited (TSX-V: CIO) announced that Graham Hurwitz has been appointed Chief Financial Officer. Peter Treston has resigned as Chief Financial Officer but will continue to consult to the Company. Mr. Hurwitz was a director of a Chartered Accountancy practice in Australia for 22 years. Subsequently, he served as Chief Financial Officer of Allegiance Mining Limited (listed on the Australian Stock Exchange until acquired in 2008). He is currently a director of Hurwitz Geller Pty Limited, a Chartered Accountancy practice. He also acts as Chief Financial Officer of Gullewa Limited (listed on the Australian Stock Exchange). He is also a director of The Australian Institute of Music Limited.

Sonde Resources Corp. (TSX: SOQ, NYSE Amex: SOQ) announced the appointment of Kurt Nelson as CFO. From June 2008 to present, Mr. Nelson worked in a private upstream petroleum finance practice. Prior thereto, from November 2001 to May 2008, he was Vice President and Chief Accounting Officer for Harvest Natural Resources, Inc., (“Harvest”) a public oil and gas company and from November 2001, he served as Vice President and Controller. From September 2000 until November 2001, Mr. Nelson was Manager, Operations Analysis for Anadarko Petroleum Corporation. Prior to his time with Anadarko, Mr. Nelson spent 19 years with The Louisiana Land and Exploration Company and its successor Burlington Resources, Inc., holding various positions, including Manager, Business Development.

PanTerra Resource Corp. (TSX-V: PRC) announced that Oxana Cusnir has been appointed CFO. Ms. Cusnir brings over 15 years of oil & gas and other accounting experience to the Company. At his request, Ron Sparrow has assumed the role of Controller, allowing him more time in his semi-retirement.

Big Eagle Services, a leading provider of oilfield services in Western Canada, today announced that Morley Myden will succeed Texas Howard as Chief Financial Officer of Big Eagle. Mr. Myden joins Big Eagle from High Arctic, where he has worked as Chief Financial Officer since 2007. Prior to High Arctic, Mr. Myden spent over 20 years at Halliburton in a number of senior finance, accounting and operational roles both in Canada and abroad. In various capacities, Mr. Howard will remain with the Company as an Executive Vice President and a member of the senior management team. Since assuming the CFO role in June 2010, Mr. Howard led the accounting department and successfully completed various projects including the transition and re-staffing of the corporate accounting functions into Calgary.

Canadian Apartment Properties Real Estate Investment Trust (TSX: CAR.UN) announced that Scott Cryer has been appointed Chief Financial Officer of the REIT. Mr. Cryer has been with CAPREIT since September 2009 and, prior to his appointment as CFO, held the position of Vice President, Financial Reporting. Prior to joining CAPREIT, Mr. Cryer had an eleven year career of increasing responsibility in the Real Estate Assurance and Advisory practice of Deloitte & Touche LLP. Mr. Cryer is replacing Richard Smith, who is leaving CAPREIT effective June 24, 2011 to pursue a new opportunity following the fulfillment of his mandate to reorganize and strengthen CAPREIT's accounting department and systems.

Northern Lion Gold Corp. (TSX-V: NL, FRANKFURT: N3E) announced that Tammy Gillis has been appointed as Chief Financial Officer. Ms. Gillis was formerly the Company's Financial Controller.

If you have news about CFOs on the move, or any comments on this feature, please email us.

CFO Career Track: Can a CFO change industries?

2011-05-25T21:45:00.020-04:00

CFOs, like many senior executives, get ‘pigeon-holed’ as they get more senior. In CFO Search, we continually hear these kinds of comments in our needs assessment process at the beginning of a Search:

“We want our new CFO to come from a competitor”
“The new CFO will need ___________ (fill in the blank) industry experience”
“She should have only worked for entrepreneurial companies”
“He must have IPO experience”

The challenge for any company as they begin their CFO Search process is to properly define what they really need. We still see too many companies treat this part of the search process as a waste of time. Usually, these are the same companies that hire wrong.

I came across this story in the CFO Journal (a new daily Wall Street Journal online publication) “Time Warner Looks Far Afield for CFO Pick”. The article talks about how Time Warner’s new CFO is not from their industry, but from financial services. It is difficult to be privy to the back room conversations that happened for this CFO Search, but I would like to believe that it was done well – not by looking just at the experience of the candidates based on what they have done before, but doing a proper assessment of what the company really needed, and matching the best possible candidates for the role.

My guess is that Time Warner and their Search Firm did their job.

For CFOs planning your career track, be aware that change is possible. You may not be stuck in that ‘pigeon-hole’. One of the challenges you face in career change is to truly understand what the company really needs from their next CFO. Do you own needs assessment. If you understand what the company needs, you will be able to sell yourself appropriately and increase your chances of getting that great new CFO role in a company and an industry that you may not have been considered for otherwise.

Canadian CFOs on the Move - week ending May 20, 2011

2011-05-23T21:45:00.001-04:00

Companies with CFOs on the Move this week include: Redline Communications Group Inc., Mongolia Growth Group Ltd., Silvermex Resources Inc., Continental Gold Limited, Continental Nickel, Petro-Reef Resources Ltd., QHR Technologies Inc., Sherbrook SBK Sport Corp., High Arctic Energy Services Inc.

Redline Communications Group Inc. (TSX: RDL) announced that George Kypreos will join the Company as its new Chief Financial Officer ("CFO"). He served most recently as Chief Financial Officer with TSX-listed Xenos Group Inc. Prior to this, he was Chief financial Officer of SAMSys Technologies Inc, a Canadian public technology company offering Radio Frequency Identification hardware solutions. Kypreos replaces former CFO Bruce MacInnis.

Mongolia Growth Group Ltd. (CSNX: YAK) announced the hiring of Matthew Aiken as MGG's new Chief Financial Officer. Mr. Aiken is replacing Jordan Calonego, the Company's COO, who served as interim CFO while MGG conducted a search for a permanent CFO. He was most recently employed as a Manager with BDO Canada in its Auditing department in the Mississauga, Ontario office.

Silvermex Resources Inc. (TSX: SLX) announced the appointment of Lisa Dea as its Vice President, Finance and Chief Financial Officer. Prior to joining the Company, Ms. Dea was the Vice President, Finance and Chief Financial Officer of Polaris Minerals Corporation (“Polaris”), a TSX listed Company, from 2006. Before joining Polaris, Ms. Dea spent eleven years at Deloitte &Touche LLP, achieving the position of Senior Manager. Hallein Darby has stepped down as CFO to pursue other ventures. Ms. Darby joined the Company in November 2008, as Senior VP Finance and was appointed CFO in March 2010.

Continental Gold Limited (TSX: CNL) announced the appointment of Paul Begin as the Company's new Chief Financial Officer ("CFO”). Mr. Begin joins Continental from Hanfeng Evergreen, Inc., where he served as CFO and Corporate Secretary. Prior to Hanfeng Evergreen Inc., Mr. Begin served as the former CFO and Vice President of Trilliant Incorporated and OZZ Corporation. Mr. Begin succeeds Keith McKay, who is also CFO of Dalradian Resources Inc. Mr. McKay will remain with the Company through a transition period.

Continental Nickel (TSX-V: CNI) announced the appointment of David Massola as President and Chief Executive Officer of the Company, effective June 27, 2011. For the past 4 years, Mr. Massola served as Senior Vice President and CFO of GlobeStar Mining Corporation. Prior to GlobeStar Mr. Massola spent 5 years as the Chief Financial Officer for De Beers Canada Inc. and 20 years with BHP-Billiton in a broad range of increasingly responsible roles.

Petro-Reef Resources Ltd. (TSX-V: PER) announced that Hugh M. Thomson has been appointed Vice President Finance and Chief Financial Officer of the Company. Mr. Thomson has been a Senior Officer and Director of several public companies on the TSX-V for the past 18 years. He was previously VP Finance & CFO, Director and Co-Founder of Relentless Resources Ltd., a publically traded (TSX-V) oil and gas company based in Calgary Alberta. Mr. Thomson replaces Alisdair Leeson as VP Finance and CFO.

QHR Technologies Inc. (TSX-V: QHR) named John K. Gillberry as the Company's Chief Financial Officer and Executive Vice President. Mr. Gillberry is currently a member of the board of directors of WiLAN Inc. (TSX: WIN) as well as being active with a number of not for profit organizations. Mr. Gillberry is replacing Charles LaFleche who provided interim CFO assistance to the Company since May 2010.

Sherbrook SBK Sport Corp. (TSX-V: SBK) announced the appointment of Marc-André Watson as Vice President of Finance as well as Chief Financial Officer. Mr. Watson has, since 2007, been Head of Finance of Gurit (Canada) Inc. He was previously Director of Finance and Administration and Controller with Drolet Group (Sherwood-Drolet, Inglasco). Mr. Watson replaces Paul St-Louis who resigned from all office previously held in SBK Sports Corp.

High Arctic Energy Services Inc. (TSX: HWO) announced the resignation of Morley Myden as Chief Financial Officer with effect on June 17, 2011. Mr. Myden has been the Chief Financial Officer since March 2008.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move - week ending May 13, 2011

2011-05-15T21:45:00.001-04:00

Companies with CFOs on the Move this week include: Prize Mining Corporation, TSO3 Inc., CSM Systems Corp., Innoventé Inc., Primary Petroleum Corporation, Dundee Precious Metals Inc., InNexus Biotechnology Inc., Concert Properties, Xebec Adsorption Inc., Noveko International Inc., Ranaz Corporation, Greenfield Financial Group Inc.

Prize Mining Corporation (TSX-V: PRZ) reported that Nigel Kirkwood has joined Prize as its new Chief Financial Officer. Mr. Kirkwood is the Chief Financial Officer of Philippine Metals Inc. and a director and Chief Financial Officer of Citation Resources Inc. Feisal Somji, formerly the Corporation's interim Chief Financial Officer, will continue in his role as a Director of Prize.

TSO3 Inc. (TSX: TOS) announced the appointment of Benoît Deschamps to the position of Chief Financial Officer and Vice President of Finance, effective June 15, 2011. Mr. Deschamps most recently held the position of Executive Vice President and Chief Financial Officer for Mechtronix World Corporation. Prior to this, he held positions of Vice President and Treasurer at Videotron, and Vice President, Private Investments at the Caisse de Dépôt et Placement du Québec where he was Vice-President in the Private Investment group. Mr. Deschamps was also an Associate Professor of Finance at both the HEC, in Montreal and Georgia State University, in Atlanta, where he taught in areas covering corporate finance at the bachelor, master and doctorate levels.

CSM Systems Corp. (TSX-V: CKX) announced the appointment of Randa Kachkar as the new Chief Financial Officer. Ms. Kachkar brings a wealth of financial and operations experience to the company, and the board of directors is pleased to have Randa assume this position. Susan Lett has resigned her position to focus on other opportunities.

Innoventé Inc. (TSX-V: IGE) announced the appointment of Martin Lemay as its Chief Financial Officer. He succeeds Pierre Massicotte in this position. Mr. Lemay previously worked with Atrium Innovations Inc. as Director of Finance for seven years until his promotion to VP of Finance in 2008.

Primary Petroleum Corporation (TSX-V: PIE; OTCQX: PETEF) announced the appointment of Brian J. Spilchen to the position of Chief Financial Officer, replacing Mr. Plater. Mr. Spilchen was previously VP Finance & CFO, Director and Co-Founder of Nexstar Energy Ltd., a publically traded (TSX-V) oil and gas company based in Calgary Alberta. Nexstar was sold in February 2010.

Dundee Precious Metals Inc. (TSX: DPM) announced the appointment of Hume Kyle as Executive Vice President and Chief Financial Officer. Most recently, Mr. Kyle served as Vice President, Treasurer and Controller, of TransAlta Corporation. Prior to TransAlta, Mr. Kyle held senior financial roles at Fort Chicago Energy Partners L.P., Noranda Inc. and Deloitte & Touche.

InNexus Biotechnology Inc. (TSX-V: IXS) announced that it has appointed Christie Amato as its Chief Financial Officer. Mrs. Amato replaces David Petulla.

Concert Properties announced the appointment of John McLaughlin as Chief Financial Officer. For over a decade, John served as the Executive Vice President and Chief Financial Officer for the Vancouver Organizing Committee (VANOC). He played an integral role in making Vancouver’s 2010 Olympic and Paralympic Winter Games one of the most successful in Olympic history. Prior to his involvement with the Olympics John held senior finance positions within Norwesco Packaging, a not-for-profit organization and the event that put Vancouver on the map — Expo 86.

Xebec Adsorption Inc. (TSX: XBC) announced the appointment of Eric Favreau to the position of Chief Financial Officer effective June 13, 2011. Mr. Favreau brings with him more than 20 years of corporate finance, strategic planning, operational and legal experience. Most recently Mr. Favreau held the position of CFO at Noveko International Inc., a publicly traded company (TSX: EKO) based in Montreal. Lyne Routhier will cease to act as interim CFO.

Noveko International Inc. (TSX: EKO) has appointed Eric Phaneuf as SVP & CFO, replacing Eric Favreau who has left Noveko. Mr. Phaneuf was formerly CFO of AAER Inc. until the acquisition of AAER by Pioneer Power Solutions, Inc. (OTC BB: PPSI) in August 2010. Phaneuf has previously held a VP position with MEGA Brands.

Ranaz Corporation (TSX-V: RNZ) reported the departure of Paul Guay as interim Financial Chief Officer. Mr. Guay remains with the company as advisor to the President. Ranaz also announces the appointment of Alain Lévesque as Chief Financial Officer.

Greenfield Financial Group Inc. (TSX-V: GRF) announced that Gerald Greve has resigned as Chief Financial Officer of the Company. Deborah McDonald has been appointed by the Company as interim CFO subject to TSX and regulatory approval. Deborah has acted as corporate controller for a number of companies within VRG Capital, the Toronto-based merchant banking division of the Vimy Ridge Group Ltd.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move - week ending May 6, 2011

2011-05-09T13:34:00.000-04:00

Great Panther Silver Limited (TSX: GPR, NYSE Amex: GPL) announced the appointment of Martin Carsky to the newly created position of Executive Vice President and Chief Financial Officer, effective June 1, 2011, and is therefore stepping aside as an independent director. Mr. Carsky is currently the CEO of Con-Space Communications Ltd. a member of the Savox Group of Companies, a position he will be leaving to take on this new role. In the past, he has been the CEO or CFO of several Vancouver-based public and private businesses and was formerly a director and chairman of the audit committee for Spectrum Signal Processing, Pacific Safety Products and Con-Space Communications. He currently serves as audit committee chairman and independent director on the board of Cangold Limited. Mr. Carsky replaces Raakel Iskanius who is resigning as the Company's CFO for personal reasons. Ms. Iskanius will remain on as a consultant to the Company.

Royal Coal Corp. (TSX-V: RDA, FRANKFURT: RLC) announced the appointment of Jeff Lowe as Chief Financial Officer. Mr. Lowe brings to Royal Coal a diverse financial acumen across multiple industry segments including coal production and significant expertise in public company treasury/corporate finance, sophisticated financial and commodity risk management, as well as corporate development.

Anterra Energy Inc. (TSX-V: AE.A) announced that Qiping Men has been appointed Vice President, Finance and Chief Financial Officer of Anterra. Mr. Men previously held the position of Controller of Anterra. Mr. Men has nine years' experience as an engineering manager in a manufacturing company, and extensive accounting experience in public accounting firms. He has provided accounting services to private and public oil and gas companies in Calgary including a company listed on the TSX Venture Exchange.

RONA (TSX: RON) announced that Claude Guevin will leave his position as the Corporation's Executive Vice President and Chief Financial Officer on June 3, 2011. Marie-Claude Lalonde, Vice President and Corporate Controller, will assume the financial management of the Corporation on an interim basis. Marie-Claude has 25 years of experience at RONA.

IBI Group Inc. (TSX: IBG) announced the appointment and commencement of work of its new Chief Financial Officer, Anthony (Tony) Long.

Copper Fox Metals Inc. (TSX-V: CUU) announced that its Chief Financial Officer, Murray Hunter, has decided to resign in order to devote more time to his growing public practice. The Company would like to record its appreciation to Mr. Hunter for his contribution to Copper Fox since its inception some seven years ago, and to wish him continued success in his future endeavors. During the interim, Catherine Henderson, currently the Corporate Comptroller will assume the role of interim Chief Financial Officer.

Biomass Secure Power Inc. (Pink Sheets: BMSPF) announced that Murray Swales has been appointed CFO of the Company. Mr. Swales has been involved with public companies and their operating and financial reporting requirements for more than a quarter century, and has served as an officer and/or director of several reporting issuers since 1980.

Long Harbour Capital Corp. (TSX-V: LHC) announced the appointment of Charles Austin as Chief Financial Officer ("CFO"). Mr. Austin, a co-founder of the Company, has and brings extensive experience in business development, corporate governance and early-stage risk capital. He is an officer and director of Central Asia Mining Corp. and of Bamet Resources Corp., both of which are private companies active in exploration of precious and base metals in Southeast and Central Asia. As the President of Austin & Briggs Investments Inc., Mr. Austin is an active angel investor in sectors including real estate and alternative energy.

Hana Mining Ltd. (TSX-V: HMG, FRANKFURT: 4LH) announced the appointment of Paul Taggar as the new Chief Financial Officer ("CFO") of the Company. Matthew ("Matt") Kavanagh, the outgoing CFO, has resigned to pursue other opportunities. Mr. Taggar joins Hana from Fronteer Gold Inc. where he spent the last 5 years as Corporate Controller until the acquisition of Fronteer Gold by Newmont Mining Corp. (TSX: NMC, NYSE: NEM) for Cdn$2.3 billion in April 2011.

Prophecy Resource Corp. (TSX-V: PCY, OTCQX: PRPCF, FRANKFURT: 1P2) announced the appointment of David Jan as the Company's Chief Financial Officer. Mr. Jan joins Prophecy from Western Coal Corp., where he held the position of Head of Investor Relations prior to its merger with Walter Energy Inc. Over the past 20 years Mr. Jan has also held progressively senior financial positions in other natural resource companies.With Mr. Jan's appointment, Irina Plavutska, formerly the company's Interim Chief Financial Officer, has been appointed Corporate Controller of the company.

Foran Mining Corporation (TSX-V: FOM) announced the appointment of Tim Thiessen as Chief Financial Officer of the Company. Mr. Thiessen has 13 years of international experience in both public accounting and the mining industry. Most recently he was CFO of Aurcana Corporation, a publicly listed silver and copper producerPreviously he held various positions with Endeavour Financial Ltd., Endeavour Mining Capital Corp. and with Deloitte LLP. Mr. Thiessen replaces Allyson Stephens who has been CFO for the past five years.

Imvescor Restaurant Group Inc. (TSX: IRG) announced the resignation of William Lane from the role of Chief Financial Officer. Mr. Lane has agreed to stay on for a period of time as Executive Vice President Restructuring to assist the Company in completing the strategic exit of underperforming locations. The Company is pleased to announce today that Ming-Ming Wong has been named Interim Chief Financial Officer. Ms. Wong has been the Vice President of Finance with IRG and has worked closely with Mr. Lane over the past 7 years in the Company's finance group.

Ranaz Corporation (TSX-V: RNZ) has appointed Alain Lévesque as its new Chief Financial Officer (CFO), replacing Paul Guay who has resigned as interim CFO. Mr. Guay will continue as an advisor to Ranaz’s President. Mr. Lévesque, an independent consultant, has previously worked for Raymond Chabot Grant Thornton and Deloitte. Mr. Lévesque currently is also CFO of INTERIM Capital, a bridge loan financing company to small and medium sized enterprises.

Canfor Corporation (TSX: CFP) announced the appointment of Alan Nicholl as Senior VP, Finance and Chief Financial Officer. Mr. Nicholl joined Canfor in 2008 and prior to his recent appointment served as Corporate Controller. Prior to his employment at Canfor, Alan spent 10 years in senior finance positions within the forest industry. Mr. Nicholl is replacing Tom Sitar.

If you have news about CFOs on the move, or any comments on this feature, please email us.

6 Reasons why an Entrepreneur Needs a Strong CFO

2011-05-05T09:42:00.000-04:00

Entrepreneurs who are fortunate to be facing growth pains know that growth hurts. Look closely at a successful entrepreneur facing serious business growth and you’ll notice they don’t sleep much.

There are many issues that face growing entrepreneurial businesses. Growth can kill a company if it is not managed properly.

What could go wrong when an Entrepreneurial Company is in Growth Mode? Plenty. Having a Strong CFO as part of your management team will minimize the possibility of failure and increase the probabilities for long-term, profitable success.

A Strong CFO can help a growing company in the following areas:

1) Cash Management. Growing companies have to properly manage their cash, or they will not be able to fund growth. Not managing cash and planning for cash needs can lead to failure.

2) Profitability Management. As Entrepreneur, do you really know…

your true costs?
whether you are making a profit or a loss?
which products should be pushed to maximize profit?

3) Budgeting & Forecasting. Without targets and goals, it is difficult to achieve them. Growth has to be planned.

4) Cost management. Every dollar spent should lead to more than a dollar in value. Is every dollar being spent being spent efficiently and effectively?

5) Controls. Money may be flying out the door and you wouldn’t even know it.

6) Decision making. Without timely and reliable information, you can’t make timely and good decisions.

Want to have the cash you need to grow, make money, and make better decisions? Hire a Strong CFO!

Canadian CFOs on the Move - week ending April 29, 2011

2011-05-01T21:45:00.001-04:00

Companies with CFOs on the Move this week include: Biosign Technologies Inc., Kingsway Financial Services Inc. , Evolution Presentation Technologies Ltd., UEX Corporation, RX Exploration Inc., Aveos, RJK Explorations Ltd., Wireless Age Communications, Inc., TRIUMF, Cadman Resources Inc., Richmond Minerals Inc., Whiterock Real Estate Investment Trust

Biosign Technologies Inc. (TSX-V: BIO) announced the appointment of Colley Clarke as interim Chief Financial Officer (CFO). Mr. Clarke has served as CFO of Redknee Solutions Inc. (TSX: RKN), The Descartes Systems Group Inc. (Nasdaq, TSX: DSG), BCE Media, Canadian Satellite Communications Inc. and WPP Group Plc. Mr. Clarke currently serves as the Chairman of the Board and Chair of the Audit Committee for the Edleun Group, Inc. (TSX-V: EDU). Mr. Clarke succeeds Scott Worthington.

Kingsway Financial Services Inc. (TSX: KFS, NYSE: KFS) announced that William A. Hickey, Jr., currently the Company's Chief Operating Officer, will take on the additional responsibility of Chief Financial Officer. Hickey replaces Daniel Brazier, a contract employee who held the post while the Company transitioned its executive functions from Canada to the United States. Hickey has previously held the COO and/or CFO roles at Lumbermens Mutual Casualty Company, Cochran Caronia Waller and Fox-Pitt Kelton.

Evolution Presentation Technologies Ltd. of Calgary, Alberta announced the appointment of Brad Celmainis as its Chief Financial Officer.

UEX Corporation announced the appointment of Ed Boney as Chief Financial Officer. Prior to joining UEX, Mr. Boney held the position of Corporate Controller at Century Mining Corporation ("Century"), a Canadian junior gold mining company with producing mines in Canada and Peru.

RX Exploration Inc. (TSX-V: RXE, OTCQX: RXEXF) appointed John Ryan as the Chief Financial Officer ("CFO") of the Company on an interim basis. The former CFO, Maxwell Polinsky, has been offered the role of Vice President of Business Development with the Company.

Aveos announced that Peter Timotheatos, VP Finance at Aveos, has been promoted to CFO. Peter Before joining Aveos in 2008, he was Chief Financial Officer at BCE Elix, and prior to that Director of Mergers & Acquisitions at BCE. Mr. Timotheaotos is replacing Robert Comeau.

RJK Explorations Ltd. (TSX-V: RJX.A) announced that Barry Milne has tendered his resignation from the Company and has appointed Amanda Kasner as a Director, CFO and member of the Audit Committee of the Company. Ms. Kasner has worked with Ernst & Young LLP, and most recently with Ross Pope & Company LLP, in Kirkland Lake.

Wireless Age Communications, Inc. (PINK SHEETS: WLSA) announced the appointment of Mark A. Donovan as Chief Financial Officer of the Company. Mr. Donovan has had leadership positions in both Canada and the U.S. with Collective Brands, Blockbuster International, Blockbuster Canada, and Silcorp Ltd (Mac's Convenient Stores). He has served as a Member of the McKinney, Texas Chamber of Commerce, the De La Salle College "Oaklands" Founding Board of Trustees, the Motion Picture Foundation of Canada, the Child Abuse Prevention Foundation and The Retail Executive Group of Canada.

TRIUMF, Canada's National Laboratory for Particle and Nuclear Physics based in Vancouver, BC, has appointed Henry Chen as CFO, replacing outgoing Chief Financial Officer Shirley Reeve.

Cadman Resources Inc. (TSX-V: CUZ.H) announced the appointment of Alex Johnston as its interim Chief Financial Officer, replacing Dodge Li.

Richmond Minerals Inc. (TSX-V: RMD) announced that Andrew McGuire has been appointed Acting Chief Financial Officer to replace Ian A. Shaw who has resigned as Chief Financial Officer.

Whiterock Real Estate Investment Trust (TSX: WRK.UN) announced appointment of Kursat Kacira as the new Chief Financial Officer for the REIT, on the retirement of Frank Bucys, effective June 6, 2011. Mr. Kacira is an accomplished professional and brings to Whiterock over 17 years of real estate, finance, capital markets, and accounting experience both in Canada and the United States. Most recently, Mr. Kacira was Vice President & Director in the Real Estate Group, Investment Banking at TD Securities Inc. in Toronto, where he worked for the last 9 years.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Hiring a CFO is easy. Hiring a Great CFO is not.

2011-04-28T18:21:00.000-04:00

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.

When CFOs leave: Perception is Reality

2011-04-26T22:00:00.001-04:00

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:

“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.

Canadian CFOs on the Move - week ending April 22, 2011

2011-04-24T10:53:00.001-04:00

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.

Canadian CFOs on the Move - week ending April 15, 2011

2011-04-17T21:45:00.020-04:00

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.

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.

CFOs and their relationship with HR - A Survey

2011-04-14T09:10:00.000-04:00

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).

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

Canadian CFOs on the Move - week ending April 8, 2011

2011-04-10T21:21:00.001-04:00

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.

A CFO is an Artist...

2011-04-05T22:11:00.000-04:00

...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.

Canadian CFOs on the Move – week ending April 1, 2011

2011-04-03T21:45:00.002-04:00

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.

Canadian CFOs on the Move – week ending March 25, 2011

2011-03-27T21:59:00.000-04:00

Companies with CFOs on the Move this week include: Mediterranean Resources Ltd., Sequoia Energy Inc., Squash Canada, Superior Mining International Corporation, Keegan Resources Inc., Labopharm Inc., Indigo Books & Music Inc., Tree Island Wire Income Fund, Phoenix Oilfield Hauling Inc., Martinrea International Inc., Healthscreen Solutions Inc., PRD Energy Inc., Coalcorp Mining Inc., IBI Group Inc., Firebird Resources Inc.

Mediterranean Resources Ltd. (TSX: MNR, Frankfurt: MHM1) announced that Winnie Wong (of Pacific Opportunity Capital Ltd.) has resigned from her position of Chief Financial Officer to allow for the appointment of Ann Fehr as the new Chief Financial Officer. Ms. Fehr has several years of experience with the implementation and use of International Financial Reporting Systems which will greatly aid the Company in its transition to IFRS.

Sequoia Energy Inc. announced that Veteran finance executive Wes Thiessen has joined the Company as its new Chief Financial Officer. President and CEO Ron Diduch, was managing the CFO tasks in addition to his strategic duties prior to this hire. Mr. Thiessen recently served as Chief Financial Officer of Craig Wireless Systems Ltd. and also gained international experience with Ridley Inc., a multinational manufacturing company.

Squash Canada announced the appointment of Ann Marie Reinson of Edmonton, Alberta as the new Vice President of Finance for Squash Canada. Ann Marie, has been involved in the game of Squash for the past 25 years; some of her experiences included the chair of the 2006 Women’s World Team Squash Championships, chair of the Royal Glenora Squash Committee and the Women’s High Performance liaison for Squash Canada from 1999 – 2003. Ms. Reinson, currently works for multinational pharmaceutical company GlaxoSmithKline. Ann Marie has been appointed V.P. of Finance for 1 ½ year term.

Superior Mining International Corporation (TSX-V: SUI) announced the appointment of Brian Richardson as Chief Financial Officer. Mr. Richardson previously worked for Ernst & Young in Toronto and in Hong Kong and currently serves as Chief Financial Officer of TSX listed Southern Arc Minerals Inc. (TSX-V: SA) and CNSX listed Bryant Resources Inc. (CNSX: BYR).

Keegan Resources Inc. (TSX: KGN, NYSE Amex: KGN) announced the appointment of Greg McCunn as Chief Financial Officer. Mr. McCunn’s background includes technical, operational, corporate development and financial roles with Teck, Placer Dome, and several junior mining companies in Canada and Australia. He most recently spent three years as CFO of Farallon Mining Ltd. Mr. McCunn played an integral role in the friendly take-over of Farallon in January 2011 by Nyrstar NV. Prior to Farallon Mr. McCunn was Vice President, Project Development for Zincore Metals. Tony Ricci has been holding dual positions as both CFO and Corporate Secretary. Due to significant growth within the Company as it continues its advancement; the need has arisen to divide these roles into two positions with Mr. Ricci continuing as Corporate Secretary and Executive Vice President.

Labopharm Inc. (TSX: DDS, NASDAQ: DDSS) announced that Sylvain Guénette has been appointed Chief Financial Officer of the Corporation. Mr. Guénette joined Labopharm as Controller in 2002 and was most recently Vice President and Corporate Controller. Before joining Labopharm, Mr. Guénette was Corporate Controller at Les Systèmes Proxima Ltée and Director of Finance and Operations at the Montreal office of Nurun Inc. Mr. Guenette has also held various finance and accounting positions within the Quebecor Group.

Indigo Books & Music Inc. (TSX: IDG) announced the appointment of Kay Brekken, Senior Vice President, Finance to the position of Chief Financial Officer. Ms. Brekken succeeds outgoing CFO and COO Jim McGill who will remain with Indigo in the COO role until July. Ms. Brekken has been with Indigo since 2003, most recently as Chief Accounting Officer.

Tree Island Wire Income Fund (TSX:TIL.UN) announced that Brian Irving, Vice President Finance and Chief Financial Officer has tendered his resignation and that Nancy Davies, the current Corporate Controller, has been appointed Vice President Finance and Chief Financial Officer. Ms. Davies has been with Tree Island since 2008. Previously, she held positions as Audit Manager at Ernst and Young LLP, Manager SOX Financial Reporting at Placer Dome and Vice President Internal Audit at CHC Helicopter Corporation.

Phoenix Oilfield Hauling Inc. (TSX-V:PHN) announced that Doug Eger, Chief Financial Officer, has announced his resignation to pursue other business interests.

Martinrea International Inc. (TSX: MRE) announced the appointment of Fred Di Tosto as Chief Financial Officer of Martinrea, replacing Nick Orlando. Mr. Di Tosto joined the Company in June 2010 as Vice President of Finance.

Healthscreen Solutions Inc. (TSX-V: MDU), announced that Isabella Cattelan will be joining Healthscreen as Chief Financial Officer. Ms. Cattelan brings domestic and international experience from her eight years with Maritz Canada Inc. as CFO and EVP, Maritz Europa Limited as CFO and European SVP Group Services. She also served three years as the CFO for CTVglobemedia Publishing Inc. (The Globe and Mail).

PRD Energy Inc. (TSX-V: PRD) announced the appointment of Jeff Scott as Vice President, Finance. Mr. Scott joins PRD from Ernst & Young Orenda Corporate Finance. Mr. Scott has previous experience in the Audit and Assurance practice of Ernst & Young with both junior and senior oil and gas companies.

Coalcorp Mining Inc. (NEX: CCJ.H) announced the appointment of Robert Dietrich to its Board of Directors. Mr. Dietrich, is currently Executive Vice President, Finance and Chief Financial Officer of Timminco Limited, (TSX: TIM). Mr Dietrich has also served on various national committees of Financial Executives International (FEI) Canada. Steven Cresswell will assume the responsibility as the Chief Financial Officer of Coalcorp. Previously he held the position of Chief Financial Officer for Tiberon Minerals PTE, a Singaporean company developing a polymetallic mine in Northern Vietnam. In addition to his Asian experience, Mr. Cresswell has a broad base of international experience having worked in North, South and Central America.

IBI Group Inc. (TSX: IBG) announced the appointment of Michel Poitras as Interim Chief Financial Officer. Mr. Poitras replaces Allan Kamerman, who is departing IBI Group Inc. Mr. Poitras is a member of the Executive Committee of IBI Group, he holds the position of Vice-President - Finance with IBI/DAA Group in Montreal, as well as with the Beijing and Shanghai offices. He participated in the integration of Daniel Arbour & Associates into IBI Group in 2006, and was also responsible for implementing the ISO 9001:2000 certification. Prior to joining the IBI/DAA group, Mr. Poitras was a partner with Raymond Chabot Grant Thornton.

Firebird Resources Inc. (TSX-V: FIX) announced the appointment of Stephen Gledhill as CFO and Secretary effective immediately, replacing Garth Sinclaire. Mr. Gledhill acts as CFO of a number of emerging resource companies and is a partner in RG Mining Investments Inc., a mineral project generation and services company.

If you have news about CFOs on the move, or any comments on this feature, please email us.

5 difficult steps to becoming a Great CFO

2011-03-24T09:51:00.000-04:00

CFOs get lots of good advice about their career. They hear things like:

Build your Personal Brand
Always be Networking
Learn to be more Strategic
Acquire Operational Experience

These tidbits are important for a CFOs success.

However, as good a CFO as you may be, to become a Great CFO you must have a great team.

Having a great team gives you the bench strength you need to spend the time necessary to be strategic and add value to the business, rather than getting lost in the day to day functional realities and firefighting.

Whether you are the newly hired CFO or have been the CFO for a while, the steps necessary are the same. You need to:

1) Design what your team should look like to support your vision

2) Look critically at your current team and allocate people based on their strengths

3) Dismiss those whose strengths do not align with the vision of what your team should look like

4) Hire right to fill the gaps, and

5) Create a succession plan for your team and for yourself.

Sounds simple. It's not. But you already knew that. However, putting in the time and the effort to doing these steps will put you on track to becoming a Great CFO.

I urge you to make this effort. It will be worth the time.

Let me know how it goes.

Canadian CFOs on the Move - week ending March 18, 2011

2011-03-21T18:26:00.001-04:00

Companies with CFOs on the Move this week include: MegaWest Energy Corp., Axia NetMedia Corporation, Soltoro Ltd., Apogee Minerals Limited. Xebec Adsorption Inc., Minaurum Gold Inc., Arian Silver Corporation, ProSep Inc., Meadow Bay Capital Corporation, Feronia Inc., Seymour Ventures Corp., Patient Home Monitoring, CO2 Solution Inc., Hunt Mining Corp., SSQ Financial Group, Labopharm

MegaWest Energy Corp. (OTCBB: MGWSF) announced the appointment of F. George Orr as interim Chief Financial Officer (CFO). Mr. Orr is a Director of the Company and chairman of the audit committee.

Axia NetMedia Corporation (TSX: AXX) announced today that Alan Hartslief has joined Axia as Chief Financial Officer (CFO), replacing Peter McKeown who is retiring and will continue to consult with Axia through the transition. Mr. Hartslief previously was CFO for Terra Nova Royalty Corp. (formerly KHD Humboldt Wedag). Prior to that he was with Ciba Specialty Chemicals for ten years where he held several positions with increasing executive responsibilities including CFO-NAFTA Region.

Soltoro Ltd. (TSX-V: SOL) announced the appointment of Brian Jennings to the position of Chief Financial Officer and Secretary of the Company. Mr. Jennings replaces Douglas Reeson as CFO. Mr. Reeson will continue to act as a director of Soltoro Ltd.

Apogee Minerals Limited (TSX-V: APE) announced that David Hunter has been appointed as the Chief Financial Officer of the Company following the resignation of Greg Duras. Mr. Hunter has served in senior financial roles including Chief Financial Officer, Vice President, Director and Controller in both public and private companies.

Xebec Adsorption Inc. (TSX: XBC) announced the departure of the Company's Chief Financial Officer, Ginette Gagné, to pursue other avenues. Lyne Routhier, currently the Corporate Controller of the company, will assume the responsibility of Chief Financial Officer on an interim basis.

Minaurum Gold Inc. (TSX-V: MGG) announced the appointement of Cale Moodie to the position of Chief Financial Officer, replacing Darryl Cardey. Mr. Moodie previously served as the Chief Financial Officer of Underworld Resources Inc. prior to its acquisition by Kinross in 2010. He currently serves as Chief Financial Officer to Full Metal Minerals Ltd, Brixton Metals Corp. and Entourage Metals Ltd. Prior to Underworld Resources Inc., Mr. Moodie acted as Chief Financial Officer and was a Director for Sierra Geothermal Corp., which was subsequently acquired by Ram Power in 2010.

Arian Silver Corporation (TSX-V : AGQ) announced that Graham Potts will step down from his position as Chief Financial Officer effective immediately. Graham will remain as Corporate Secretary of Arian. An announcement is expected to be released soon regarding the appointment of a new CFO. To ensure a smooth transition, Arian's Financial Controller, Victoria Parkes, will cover duties of the CFO until a replacement is found.

ProSep Inc. (TSX: PRP) announced the appointment of Claude Samson as Chief Financial Officer and Corporate Secretary. Mr. Samson was most recently Quebec Leader of Financial Management Services at IBM Business Consulting Services. Previously, Mr. Samson held positions as Senior or Executive Vice-President, Finance at AMEC Engineering & Construction, Canada Trust Financial Services, AlphaNet Telecom, Téléglobe Canada and The Laurentian Group. He currently serves on the Board of Directors of Financial Executives International (Quebec Chapter), as well as on the Institute of Corporate Directors' (Quebec Chapter) Professional Development Committee.

Meadow Bay Capital Corporation (TSX-V: MAY, FRANKFURT: 20M) announced the appointment of Keith Margetson as Chief Financial Officer of the Company, replacing Terry Fields.

Feronia Inc. (TSX-V: FRN) announced the appointment of Danesh Varma as the new Chief Financial Officer of the Company, replacing Georgie Cotton, who will act as a consultant in order to facilitate the changeover. Mr. Varma was formerly President and Managing Director of American Resource Corporation Limited, Dundee Bancorp, Dundee Investment Management and Research Ltd. and Dundee Mutual Funds India, in addition to holding the post of director and Vice President of the Dundee Bank Cayman. He was formerly a director of Northgate Exploration Limited and Westfield Minerals Limited.

Seymour Ventures Corp. (TSX-V: SEY) announced that Robert Chisholm has been appointed to the Board of Directors of the Company. Mr. Chisholm is currently the Chief Financial Officer ("CFO") for Emprise Capital Corporation, a private merchant banking firm, and serves as a director, and audit committee member of a number of public companies. Mr. Chisholm also served as CFO for PNI Digital Media Inc. for more than 7 years.

Patient Home Monitoring (TSX-V: PHM) announced the appointment of Nathan Gilliland to the position of Chief Financial Officer and Chief Operating Officer.

CO2 Solution Inc. (TSX-V: CST) announced that it has appointed Thom Skinner as Senior Vice President Finance & Chief Financial Officer. Linda Parent, who acted as Vice President Finance and Administration, will remain within the company with other responsibilities and to ensure continuity of the ongoing files as well as the transfer of financial information. Mr. Skinner joins CO2 Solution from TS Business Solutions, a Quebec-based business consultancy which he founded in 2001 where he provided corporate financial and administrative services to a range of public and private companies. In this capacity, he was Chief Financial Officer of DiagnoCure Inc., a Quebec-based biotechnology company . He also served as Interim Vice President (finance and information technology) of Sanofi /Aventis Canada. More recently, he acted as Principal Advisor to the Chairman of Groupe Biscuits Leclerc Inc. Prior to TS Business Solutions, Mr. Skinner held a number of senior management positions in Canada and Europe including Executive Vice President and Chief Financial Officer of MediSolution Ltd., Vice President, Finance and Administration of McKesson Canada Corp., Vice President, Finance and Administration and Chief Financial Officer of the Business Development Bank of Canada and Vice President of Sunlife Financial Services. Mr. Skinner is a member of several professional associations in Canada and has served on several Boards of Directors including a term as Chairman of The Montreal Children's Hospital. He is currently a member of the Board of Directors of the Foundation Robert-Giffard.

Hunt Mining Corp. (TSX-V: HMX) announced the appointment of Vicki Streng as Interim Chief Financial Officer and Corporate Secretary. Bryn Harman, the current Chief Financial Officer, is resigning his position to seek other opportunities but will remain as a Director of the Corporation. Ms. Streng, the Corporation's current Controller, has over fifteen years of accounting experience in the mining industry. Previously, she held the positions of Controller for Nevoro Inc., Controller for Minera Andes Inc. and Assistant Controller for Yamana Gold Inc. (formerly Yamana Resources Inc.).

SSQ Financial Group, a mutual insurance company, announced the appointment of Patrick Cyr to the position of Senior Vice-President of Finances and Control. Mr. Cyr has been president of the Regroupement des comptables agréés de Québec and for the last 10 years has sat on the insurance committee of the Ordre des comptables agréés du Québec. Mr. Cyr worked for the firm KPMG before joining the ranks of SSQ Financial Group in 1992. He has held a number of management positions at SSQ General Insurance and SSQ Financial Group where until recently he was Vice-President of Customer Service and Administration for Group Insurance.

Labopharm, (TSX: DDS, NASDAQ: DDSS) announced that Mark D'Souza, the Corporation's current Chief Financial Officer, has been elected President and Chief Executive Officer of Labopharm and a member of the board of directors. Mr. D'Souza replaces James Howard-Tripp as President and Chief Executive Officer and board member.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move – week ending March 11, 2011

2011-03-13T21:45:00.002-04:00

Companies with CFOs on the Move this week include: General Motors, Kinross Gold Corporation, Key Gold Holding Inc., Artha Resources Corporation, Mega View Digital Entertainment Corp., Essex Angel Capital Inc.

General Motors (NYSE: GM, TSX: GMM) Vice Chairman and Chief Financial Officer Chris Liddell today announced that he will leave the company April 1, 2011. Dan Ammann will succeed Liddell as General Motors chief financial officer, effective April 1, 2011. Ammann, 38, is currently GM vice president, finance and treasurer. Since joining the company in March, 2010, Ammann has led the GM Treasurer's Office, based in New York, with operations around the world. Prior to GM, Ammann was managing director and head of Industrials Investment Banking for Morgan Stanley and was instrumental in many high profile assignments spanning a variety of technology, service, and manufacturing clients. A successor for Ammann in GM's Treasurer's Office will be announced at a later date.

Kinross Gold Corporation (TSX: K; NYSE: KGC) announced the appointment of Paul H. Barry as Executive Vice-President and Chief Financial Officer. Mr. Barry replaces Thomas M. Boehlert, who will be leaving the Company by mutual agreement to pursue other opportunities. Mr. Boehlert will remain with the Company for an appropriate period to ensure a smooth transition. Since 2009, he has been an independent consultant in Washington, D.C. From 2007 to 2009, Mr. Barry was Senior Vice-President and Chief Financial Officer of Pepco Holdings, Inc. From 2002 to 2007, he held several positions at Duke Energy Corporation, including most recently Senior Vice-President and Chief Development Officer. Previously, he held positions in business development and financial management at Amoco Corporation and General Electric Company.

Key Gold Holding Inc. (TSX-V: KGH) announced the appointment of Graham Warren to the positions of Chief Financial Officer, Corporate Secretary and Director of the Corporation effective immediately. Mr. Warren is a senior financial executive with over 25 years of experience with emerging companies in the oil and gas, mining, environmental, biotech and software sectors. He has extensive operations, international business, corporate finance and public market experience. Mr. Warren has served as Chief Financial Officer and Director of several public issuers.

Artha Resources Corporation (TSX-V: AHC) announced the appointment of George Lim to its Board of Directors. Mr. Lim is currently the Chief Financial Officer of Dundarave Resources Inc. (TSX-V: DDX) and is on the board of directors of Eurasian Mineral Inc. (TSX-V: EMX). Until its recent takeover, in a transaction valued at in excess of $430 million, Mr. Lim held the position of Chief Financial Officer of Potash One Inc. (TSX: KCL). Mr. Lim was also the Chief Financial Officer of Energy Metals Corporation (NYSE-ARCA: EMU, TSX: EMC) prior to its take-over in a transaction valued at $1.5 billion. Mr. Lim has been involved in numerous financings, mergers and acquisitions of public companies listed on TSX and NYSE.

Mega View Digital Entertainment Corp. (TSX-V: MVD) announces that Michael Lam has been appointed as Chief Financial Officer, replacing Felix Tung. Michael was formerly a Senior Manager with Deloitte & Touche LLP specialising in Canadian and U.S. public companies filings. Michael has previously also served as Group Accountant at Vive Synergies Inc., a manufacturer of special telephony products and as Manager at KPMG (Mauritius).

Essex Angel Capital Inc. (TSX-V: EXC.P) announced today that Michael Labiak was appointed Chief Financial Officer. Mark Meldrum, who previously held the titles of President, Chief Executive Officer, Chief Financial Officer and Chairman, will remain a director and Chairman of the board of directors.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Kvetches from the Trenches - Job Seeker Complaints [Q1 2011]

2011-03-10T07:45:00.001-05:00

Being a mid-level financial manager looking for work in this market is still tough. It has been for a while. When we have heart to heart discussions with these capable people, we hear many complaints. Here are some of them.

Complaints about Companies:

Companies are low-balling: Candidates feel that companies are taking advantage, and paying less for positions that should have a higher salary. One candidate we spoke with believes that companies are offering salaries that are 15-20% less then they feel they should be paid for the level of work required. Job seekers are frustrated with this price differential.

“I would rather work with an external recruiter”: Some candidates have told us that they would prefer to work with a recruiter they trust, rather than work directly with the hiring company. They feel they get more complete and reliable information in the search from an external recruiter.

Companies are taking too long to make a decision: During the height of the recession this was the most difficult issue with companies that were looking to hire. Now that we are passed those lows and on the way to recovery, companies are still taking too long to make decisions. Not only does time make it more difficult for companies to hire the best people (because the best candidates will not wait for them), companies are not helping their market reputation.

Getting stuck in HR Hell: The job-seeker hears about a job that sounds ideal for them. They send their resume in, because that is what they believe they are supposed to do. And then they wait. And wait. They wait for whoever is in charge of the company resume inbox to actually read their resume, understand what they do, and put them to the top of the pile. Good luck – you have now entered HR Hell. Most of the time, the person clearing the inbox and doing the initial assessment has no real clue as to what to look for in the resume. At best, they are working off a key word list.

Complaints about Recruiters:

Job seekers are not only frustrated with companies; they are frustrated with some recruiters too. Job seekers we have spoken with generally like recruiters, but not all of them. Here are some of their complaints.

Recruiters that don’t understand what I do: “When I have to explain what I do to a recruiter who doesn’t understand what I do, how can I be sure that she is representing me properly to the company?”

Recruiters that blast me: “I can’t stand when a recruiter presents me to a company that I did not give them permission to do so.”

Recruiters that don’t understand my market: “When I see area code XXX on my call display, I cringe. Those [Unnamed Large City] recruiters are the worst. They don’t have a clue about the market I live in.”

Recruiters that call me for roles that I said I wasn’t interested in: “I told the recruiter I was not interested in an internal audit position. Why do they keep calling me about internal audit roles?”

On the positive side, most of the job seekers we spoke with said that their complaints about recruiters are limited to a small number of them. Most recruiters, they feel, are reputable and provide quality service.

When I asked one job seeker whether he dealt with recruiters he would prefer not to deal with, he said: “I’m actively looking for a job. If a recruiter I don’t like to work with has a job opportunity for me, how can I pass up working with them? I need a job. I just hold my nose.”

Canadian CFOs on the Move – week ending March 4, 2011

2011-03-06T21:45:00.003-05:00

Companies with CFOs on the Move this week include: Crocodile Gold Corp., China Gold International Resources Corp. Ltd., Lyrtech Inc., Prestige Telecom Inc., Sparta Capital Ltd., Focus Metals Inc., Sunridge Investments Corp., Alacer Gold Corp., Luiri Gold Limited, Petrodorado Energy Ltd., PrimeWest Exploration Inc., Saturn Minerals Inc., Hy Lake Gold Inc., Royce Resources Corp., Petro-Reef Resources Ltd., Bowood Energy Inc., Pacific Cascade Minerals Inc., Colossus Minerals Inc., Sereno Capital Corporation

Crocodile Gold Corp. (TSX: CRK) announced that Stephen Woodhead has been appointed Chief Financial Officer of the Company, replacing Brad Boland. Mr. Woodhead has served in senior financial positions with several public companies, including as Chief Financial Officer of Desert Sun Mining Corp. until it was acquired by Yamana Gold Inc. in 2006. He currently serves on the Board of Directors of Vaaldiam Mining Inc.

China Gold International Resources Corp. Ltd. (TSX: CGG) announced the resignation of George Law as Chief Financial Officer, and the appointment of Derrick Zhang as Interim Chief Financial Officer. Mr. Zhang has over 18 years of experience in financial reporting for public companies including experience leading financial reporting for mergers and acquisitions and has served as the Company's controller since January 2010.

Lyrtech Inc. (TSX-V: LTK) announced the resignation of Louis N. Bélanger as Chief Financial Officer ("CFO") of the Corporation and the appointment of Vincent Bélanger who will take over the responsibility of the CFO position. Messrs. Louis and Vincent Bélanger are not related. Mr. Vincent Bélanger is chartered accountant and president of CFO Solution Inc., a company through which he provides part-time CFO services for public and private companies. He has over 20 years of experience as chartered accountant and business advisor, mainly as CFO.

Prestige Telecom Inc. (TSX-V: PR) announced today the appointment of Alain Boucher as the Company's Interim Chief Financial Officer. Jack Pulkinen who assumed the role of Chief Financial Officer since February 2009 will transfer his responsibilities to the strategic planning of the Company as Senior Vice-President Strategy.

Sparta Capital Ltd. (TSX-V: SAY) announced that Murray Hinz, has tendered his resignation from the interim position of Chief Financial Officer for Sparta. Mr. Hinz will continue in a consulting capacity with the Corporation. Ray Ludwig, currently Vice President Operations, has accepted the appointment to the additional role and responsibilities of Chief Financial Officer. Mr. Ludwig has prior Chief Financial Officer experience with public companies and has extensive prior experience in financial and business management as a consultant to public and private companies.

Focus Metals Inc. (TSX-V: FMS) announced the appointment of Judith Mazvihwa-MacLean as new Chief Financial Officer. Mrs. MacLean is replacing Khadija Abounaim who has resigned her position as CFO. Prior to joining Focus Metals Inc., Mrs. 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.

Sunridge Investments Corp. (TSX-V: SRG) announced that following the closing of its Qualifying Transaction, Jerry Bella has been appointed as Chief Financial Officer and Corporate Secretary. Mr. Bella is currently the Chief Financial Officer of TNR and Foundation Resources Inc. and has experience at the executive level of both private and public companies.

Alacer Gold Corp. (TSX: ASR) announced the appointment of Douglas Tobler as Chief Financial Officer. Prior to joining Alacer (formerly Anatolia Minerals) in 2004, Mr. Tobler was president and founder of Falcon Strategic Partners where he provided advisory services to a number of mining, oil & gas, distribution and technology companies.

Luiri Gold Limited (TSX-V: LGL) announced that Mike Langoulant has been appointed Chief Financial Officer and Company Secretary following the resignation of Peter Tanham as CFO and Company Secretary.

Petrodorado Energy Ltd. (TSX-V: PDQ) announced the appointment of Sean Bovingdon as Vice-President and Chief Financial Officer of the Company, following the resignation of Alan Beaulieu.

PrimeWest Exploration Inc. (TSX-V: PWI) announced that Ross Jones has been appointed to the positions of President, Chief Executive Officer and Chief Financial Officer of the Corporation. Greg Noval has tendered his resignation as the President, Chief Executive Officer and a director of the Corporation and Manjeet Dhillon has tendered his resignation as Chief Financial Officer of the Corporation.

Saturn Minerals Inc. (TSX-V: SMI) announced that it has retained Scott Davis as its Chief Financial Officer ("CFO"). Mr. Davis' experience is extremely well suited for the position of CFO with Saturn Minerals. Mr. Davis replaces Larry Johnson who resigned as CFO.

Hy Lake Gold Inc. (CNSX: HYL) announced the appointment of Gaetan Chabot as Chief Financial Officer. Mr. Chabot has been Chief Financial Officer of several publicly traded junior mining companies for the past 5 years, including Asia Now Resources Corp. and Hawk Uranium Inc.

Royce Resources Corp. (TSX-V: ROY.H) announced the appointment of Gordon Keep as Chief Financial Officer and Corporate Secretary.

Petro-Reef Resources Ltd. (TSX-V: PER) announced that Alisdair Leeson has been appointed Vice President Finance and Chief Financial Officer of the Company. Mr. Leeson brings twenty five(25) years of experience as a Chartered Accountant in various industries. The appointment of Mr. Leeson is in addition to the previously announced appointment of Hugh Thomson as Chief Accountant.

Bowood Energy Inc. (TSX-V: BWD) announced that it has appointed Franco Civitarese as the new Chief Financial Officer , replacing Mr. Kryczka who acted as the CFO during a period of transition for Bowood. Mr. Kryczka will now be assuming the full time role of Vice President Business Development and will remain a director of the Company. Mr. Civitarese responsibilities as CFO will extend from his current position as VP Finance and will include primary responsibility for all financial and accounting matters including the preparation of financial statements and managing the financing needs of the Company.

Pacific Cascade Minerals Inc. (TSX-V: PCV) announced the appointment of John Meekison to the Board of Directors of the Company. Mr. Meekison also has extensive experience as a Chief Financial Officer of public companies, including iCo Therapeutics Inc. and Response Biomedical Corp. He is a director of Natcore Technology Inc. and is CFO and a director of Ravenstar Ventures Inc.

Colossus Minerals Inc. (TSX: CSI) announced that Claudio Mancuso has been appointed to serve as the Company's Chief Financial Officer, replacing Steven Poad. Prior to joining Colossus, Mr. Mancuso served as Vice President, Treasurer of Agnico-Eagle Mines Limited, a position he held since January 2009. Prior to that appointment, he served Agnico-Eagle in various financial management positions. Prior to joining Agnico-Eagle in 2002, he held positions at the Ontario Securities Commission and BDO Dunwoody LLP, a public accounting firm.

Sereno Capital Corporation (TSX-V: SZZ.H) announced that David Guebert has been appointed Chief Financial Officer of the Corporation.

If you have news about CFOs on the move, or any comments on this feature, please email us.

6 Things Real CFOs Do Not Do

2011-03-03T21:45:00.002-05:00

Real CFOs Don’t…

Apply to job postings – If I have one pet peeve, it is when a company puts a job posting up for a CFO. The reason it’s my pet peeve is that the only reason a Real CFO will apply to a job posting would be because he or she is not working. This is because Real CFOs are too busy to send their resume, and because Real CFOs know that any CFO job that is posted is not really a CFO job, it’s really a Controller job.

Do the accounting – They don’t manage the books, they do not do accounting research, they do not make journal entries, they do not cut cheques. Real CFOs are helping manage a business, not run an accounting department.

Assume – Real CFOs have learned over time, often before becoming a CFO, that there is a big difference between assuming they know something and actually knowing something. Real CFOs have learned from the mistakes of assumption.

Deal with audit staff– If you are a CFO and you are dealing with the manager or senior on the audit of your financial statements, you are not a Real CFO. You deal with the partner on the file. And tell him or her that the fee is too high.

Stand in the Shadow of the CEO – You give the presentations. You go on the road. You shake hands. You negotiate and you close the deal. If you are watching the CEO do this from the sidelines, you are not a Real CFO.

Melt into the crowd – A Real CFO has presence. You walk into the room, and people know you are a person with responsibility and power. People want to speak with you, want to know you and want to shake your hand.

So, are you a Real CFO?

Thank you to my partner Paul Landry for his important input in preparing this blog.

Canadian CFOs on the Move - week ending February 25, 2011

2011-02-28T10:47:00.000-05:00

Companies with CFOs on the move this week include: Argentum Silver Corp., Eaglewood Energy Inc., Panoro Minerals Ltd., Blue Note Mining Inc., Alacer Gold Corp., Compton Petroleum Corporation, Exile Resources Inc., Redstar Gold Corp., Softchoice Corporation, Otish Energy Inc., Mxi® Technologies, Belzberg Technologies, Inc., Canadian Imperial Venture Corp.

Argentum Silver Corp. (TSX-V: ASL) announced that following the closing of its Qualifying Transaction, it has announced that Simon Anderson has been appointed as Chief Financial Officer. Mr. Anderson is the Chief Financial Officer of Arco and is President of S2 Management Inc., a private Vancouver-based company providing financial consulting and corporate advice to private businesses and public companies listed in Canada and the United States. He has served as an officer and director of several companies and has experience in the process of public listing of private companies.

Eaglewood Energy Inc. (TSX-V: EWD) announced that Arlene Weatherdon has resigned as the Company's Chief Financial Officer. She has agreed to remain in a consulting role as long as her services are required. Diana Moes, Eaglewood's Controller, will become interim CFO, taking over many of Ms Weatherdon's duties.

Panoro Minerals Ltd. (TSX-VE: PML, BVLAC: PML, FRANKFURT: PZM) announced the appointment of David W. Huber as Chief Financial Officer, replacing Michael Kerfoot. Prior to joining Panoro, Mr. Huber spent over six years in the Cayman Islands providing CFO and Corporate Secretarial services for the reinsurance industry. He also spent over five years with KPMG in the Cayman Islands and PricewaterhouseCoopers in Edmonton, Alberta.

Blue Note Mining Inc. (TSX-V: BNT) announced the appointment of Daniel Bortoluzzi as Chief Financial Officer in replacement of Robert Therriault who has left the Company. Mr. Bortoluzzi has been the Company's corporate controller since October 2008 and has over fifteen years of experience working with private and public mining and manufacturing companies. Previously, Mr. Bortoluzzi has served as corporate controller of Campbell Resources, Zemex Corporation and Lorbec Metals, and was a manager at Samson Bélair Deloitte & Touche.

Alacer Gold Corp. (TSX: ASR) announced the appointment of Douglas Tobler as Chief Financial Officer. Prior to joining Alacer (formerly Anatolia Minerals) in 2004, Mr. Tobler was president and founder of Falcon Strategic Partners where he provided advisory services to a number of mining, oil & gas, distribution and technology companies.

Compton Petroleum Corporation (TSX: CMT) announced the departure of Leigh Cassidy, Vice President, Finance and Chief Financial Officer ('CFO'). Theresa Kosek, has been appointed to the position of Vice President, Finance and CFO upon Mr. Cassidy's departure. Ms. Kosek has over 16 years of experience in the petroleum industry in roles of increasing responsibility for finance and corporate matters. She has been with Compton for over 11 years and most recently served as Controller for the Corporation. Prior to this, Ms. Kosek was employed by Grant Thornton LLP, providing financial and valuation advice to a number of small to mid-sized petroleum clients. She also serves on the Board and is Treasurer of Lunchbox Theatre.

Exile Resources Inc. (TSX-V: ERI) announced that it has appointed Darren Moulds as the Company's new Chief Financial Officer. Mr. Moulds replaces Graham Warren who has resigned from the management team and will be leaving the Company to pursue other opportunities. Mr. Moulds has held previous management positions including Chief Financial Officer of Africa Oil Corp. and Financial Controller of Upstream Operations for Centurion Energy International Inc. (Dana Gas).

Redstar Gold Corp. (TSX-V: RGC) announced the appointment of Alec Peck as Chief Financial Officer. Mr. Peck takes over from Paddy Nicol, who has been with Redstar since 1995 serving as a director from 1999 and as its CFO since 2003. 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.

Softchoice Corporation (TSX: SO), announced the appointment of Bill Linton to Chairman of the Softchoice board. Mr. Linton is the Vice President, Finance and Chief Financial Officer of Rogers Communications Inc. Mr. Linton has held various executive level positions throughout his career. In addition to senior roles in finance at SHL Systemhouse Inc., Rogers Wireless and Rogers Cable, Mr. Linton managed the sale of Prior Data Services Inc., to X-wave Solutions while serving as Prior Data's Chairman and Chief Executive Officer.

Otish Energy Inc. (TSX-V: OEI) announced that Iqbal Boga has joined the Company, replacing Chris Hobbs as CFO and Director. He is currently the CFO, Secretary and a director of Taku Gold Corp. (TSX-V: TAK). Mr. Boga was a sole practitioner with I. J. Boga, Chartered Accountant from 1993 to August 2007. He has acted as a director, Chief Financial Officer and Corporate Secretary for various Exchange-listed companies. Mr. Boga was an officer and director of four capital pool companies, all of which have completed Qualifying Transactions.

Mxi® Technologies (www.mxi.com) announced the appointment of Scott Helmer to the role of Chief Financial Officer (CFO). Mr. Helmer brings over 15 years of experience to the role of CFO having previously held senior finance positions with both public and private technology companies in the communications and information security markets. Prior to joining Mxi, Mr. Helmer served as CFO of Galazar Networks and held senior finance roles with ActivCard, Alcatel, and Newbridge Networks.

Belzberg Technologies, Inc. (TSX: BLZ), following a definite agreement to merge itself with Frontline Technologies Corp. through an acquisition of Frontline by Belzberg. The combined entity, will operate under the Frontline brand name. David Evans of Belzberg will continue as VP Finance.

Canadian Imperial Venture Corp. (TSX-V: CQV, Frankfurt: DFM) announced the appointment of Tina Ricketts as Chief Financial Officer and Corporate Secretary for CIVC.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Business is my Sports, and I am a Talent Scout

2011-02-22T20:45:00.011-05:00

In a previous post (Want to become a successful CFO?...) I discussed how I love to follow business. For the longest time I've said that business is my sports.

That is not to say I don't have a favorite sports team (Go Habs) or mourn for the nostalgia of what could have been (R.I.P. Expos), it's just that if sports was not a part of my life, it wouldn't be a great loss.

I do follow business like some people follow sports. I read the business section religiously. I keep on top of how my favorite businesses are doing this season. At lunch with business friends, I share business strategies that firms would be following if I was the head coach. I mean CEO.

Some people are Monday Morning Quarterbacks. I'm an Office Chair CEO the day after quarterly results come out.

Just like pro sports have player agents, I'm a CFO agent. Well, I'm more of a talent scout, because I work for the company, not the CFO. Actually, I'm more like a freelance talent scout, because I don't work for one team. I mean one company.

I don't work alone. My team is critical and crucial to ensure that we have access to the right CFO talent. Our talent scout agency does the necessary work upfront so that when teams need a star CFO with excellent financial and interpersonal skills, we have access to those stars and the ability to close the deals.

Yes, we get paid big bucks for this.

Do you know why? We're worth it!

Quoting Jerry McGuire (in a loud, bold voice): "Show me the money!"

Canadian CFOs on the Move–week ending February 18, 2011

2011-02-20T11:53:00.000-05:00

Companies with CFOs on the move this week include: Rogers Insurance Ltd., Ridgement Iron Ore Corp., Crosshair Exploration & Mining Corp., Romios Gold Resources Inc., Pretium Resources Inc., Viridis Energy Inc., Pershimco Resources Inc., LOREX Technology Inc., NovaGold Resources Inc., Fortress Energy Inc., Abzu Gold Ltd.

Rogers Insurance Ltd., an employee owned brokerage in Western Canada, announced the appointment of Sara Robb as Vice President Finance. Sara has been employed with Rogers for 1 year.

Ridgement Iron Ore Corp. (TSX-V: RDG) announced the appointment of Anna Ladd as Chief Financial Officer, replacing Sonya Atwal. Ms. Ladd is an experienced financial professional with a wide array of experience in the mining industry. Ms. Ladd is currently the Chief Financial Officer of Logan Resources Ltd. and the former 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 worked in Thompson and Sudbury operations for Vale Inco.

Crosshair Exploration & Mining Corp. (TSX: CXX, Amex: CXZ) announced the appointment of Sonya Atwal as Chief Financial Officer of Crosshair, replacing Adam Kniec. Ms. Atwal has been Crosshair's Controller since 2005.

Romios Gold Resources Inc. (TSX-V: RG, OTCBB: RMIOF, FRANKFURT:D4R) announced that Michael D'Amico has been appointed as Chief Financial Officer, replacing Errol Farr, who has resigned to focus his attentions on Adex Mining Inc. where he serves as President. Mr. D'Amico is a former partner at KPMG and has served as Chief Financial Officer of several companies in various industries including distribution, technology and a publicly traded technology company. Most recently he has been providing Investor Relations and other consulting services to publicly traded mining companies.

Pretium Resources Inc. (TSX: PVG) announced that Tom S.Q. Yip, Vice President, Finance and Chief Financial Officer of Silver Standard Resources Inc., has been appointed to its Board of Directors. Mr. Yip has over 25 years experience in the mining industry, including 20 years with Echo Bay Mines Ltd. where he held finance roles of increasing responsibility, including Vice-President, Finance and Chief Financial Officer, before the company merged with Kinross Gold Corporation in 2003. Prior to his current role with Silver Standard, he was Chief Financial Officer for Asarco, LLC.

Viridis Energy Inc. (TSX-V: VRD) announced the appointment of Michele Rebiere as Chief Financial Officer. Ms. Rebiere has been the Chief Operating Officer of the Company. Ms. Rebiere replaces Isaac Moss, the Company's previous Chief Financial Officer. Mr. Moss will continue to serve as a director and Corporate Secretary.

Pershimco Resources Inc. (TSX-V: PRO, FRANKFURT: BIZ) announced the nomination of Serge Cotes, as Chief Financial Officer (CFO) of the Company. Mr. Cotes will be replacing Jacques Fortin who was acting interim CFO for the Company. Mr. Fortin will still sit as director on the Board of the Company. From 1995 to 2000, he worked for KPMG as an auditor of private and public companies. During this period he was heavily involved in various cases of public companies both in public accounting issues, taxation and financial manners. From May 2000 to April 2004, he worked for the Fonds Regional de Solidarite FTQ as an investment councilor where he joined the boards of directors of private corporations while realizing several capital investments both in private and public companies. In April 2004, he entered the broker firm National Bank Financial where he worked as an investment advisor until October 2008. From January 2009 to February 2011, he was employed by the accountant firm Deloitte in Rouyn-Noranda where he worked in the tax department, specializing, amongst other thing, in mining taxation issues.

LOREX Technology Inc. (NEX: LOX.H) announced that its Chief Financial Officer, Jordan Schwartz, has left the Company in order to pursue other business opportunities. The Company has appointed David Mundy to act as interim Chief Financial Officer, effective immediately, while it searches for a permanent replacement. Mr. Mundy, a Chartered Accountant, practiced with PricewaterhouseCoopers LLP from 1987-2000 in the firm's audit and IT practice areas. In 2000, he became an independent consultant assisting public and private companies with their financial reporting responsibilities. Since March 2010, Mr. Mundy has provided consulting services to the Company, with particular emphasis on financial reporting.

NovaGold Resources Inc. (AMEX: NG, TSX: NG) announced the appointment of Elaine Sanders to the position of Vice President and Chief Financial Officer. Ms. Sanders joined NovaGold as Controller in March 2003, was promoted to Vice President Finance in 2006, was appointed Corporate Secretary in 2008 and has been Interim CFO since April 2010. Prior to joining NovaGold, Ms. Sanders worked in the high tech sector and in the assurance practice of Price Waterhouse. While with NovaGold, Ms. Sanders also took senior management positions with the Company's spin outs as Controller for SpectrumGold Inc. and CFO for Alexco Resource Corp.

Fortress Energy Inc. (TSX: FEI) announced the appointment of J. Michael Sullivan to the position of Chief Financial Officer. Mr. Sullivan was Managing Partner of Affluence Capital Corporation. During his tenure at Affluence, Mr. Sullivan was responsible for corporate finance advisory work with a number of public and private energy companies including Western Carbon Ltd. Hyperion Technologies, International Petroreal, Brink Energy, Interex Oilfield Services and Vault Power Corp. where he acted in senior management capacity including interim chief executive officer, chief financial officer and/or chief strategy officer. Prior to establishing Affluence Capital Corporation in 2001, Mr. Sullivan was a founder and Chief Financial Officer of a private midstream infrastructure company that was sold to AltaGas Services Ltd. Prior thereto, Mr. Sullivan was the Chief Financial Officer of the Morrison Facilities Income Trust, a TSX listed entity. Prior thereto, Mr Sullivan was the manager for project finance at TransCanada PipeLines. Mr. Sullivan is a board member and Treasurer of Independent Living Resource Center which is a national non-profit charity that provides resources for disabled persons and a former board member of the Calgary Society of Financial Analysts.

Abzu Gold Ltd. (TSX-V: ABS) announced the appointment of Ross McDonald will become Chief Financial Officer for the Company, replacing Chris Cherry. Mr. McDonald has a broad range of experience in public company accounting and finance, providing accounting, audit and tax services to small and medium sized businesses. The majority of his clients are in the resource industry and include public companies, mining professionals, exploration service companies and consultants. He serves on the Board of Directors of Fjordland Exploration Ltd. and Miranda Gold Corp.

If you have news about CFOs on the move, or any comments on this feature, please email us

Want to become a successful CFO? Quit your job...

2011-02-17T01:19:00.000-05:00

I have always believed that when one has a career that they love, it will never seem like work. I have tried to live this principle throughout my career. It was a key driver for starting CFO2Grow. It is a key driver in pushing and continuing its growth and success.

One of the best things I love about my role is the trust people put in me. I get to be a repository of a lot of confidential information. People trust me with very important personal and corporate information that they won't share with many, if not another soul.

I'm grateful for that confidence. It allows me to do my job, and do it well.

Another thing that I love about what I do is that I get to follow businesses. What I enjoyed so much about the first few years of my career when I was an auditor at Ernst & Young was getting to see and learn from diverse businesses and understanding what made a successful business, as well as unsuccessful. Getting insights into profitability drivers and seeing economic activity in a microcosm was wonderful to observe. Seeing different management styles and ownership roles fascinated me. It still does today.

But as much as I have a job as Senior Partner and Practice Leader of our CFO Search practice, it's not my job. It's my passion. Well, one of my passions anyway.

I sometimes speak with senior finance executives who don't love their job. They don't because they haven't found anything in their career to be passionate about. Which is a shame.

I do however have the opportunity to connect with CFOs (present and future) who LOVE their job. They love their work so much, that if you ask them how many hours they put in last week, they would have to look at their agenda and start counting the hours.

I can tell within minutes of meeting a CFO whether they have a job or a passion. It's obvious. Truly successful CFOs don't have a job.

Want to become a successful CFO? Quit your job and find your passion.

Canadian CFOs on the Move - week ending February 11, 2011

2011-02-13T20:31:00.001-05:00

Companies with CFOs on the move this week include: Harry Winston Diamond Corporation, EACOM Timber Corporation, Parkland Energy Services Inc., Craig Wireless Systems Ltd., Canadian Imperial Venture Corp., Greenwin Inc., Pine Cliff Energy Ltd., Geomark Exploration Ltd., Bonterra Energy Corp., TMX Group Inc., Northland Power Inc., Relentless Resources Ltd., CTV Inc., Brigus Gold Corp., Osum Oil Sands Corp., Clean Power Concepts Inc., The Carbon2Green Corporation, Moneta Porcupine Mines Inc., St. Augustine Gold and Copper Limited

Harry Winston Diamond Corporation (TSX: HW, NYSE: HWD) announced the appointment of Cyrille Baudet to the position of Group Chief Financial Officer. With the appointment of Mr. Baudet, the structure of the finance group will also change. Wendy Kei will assume the role of Chief Financial Officer of the mining and rough diamond sales team based in Toronto while Robert Scott continues as Chief Financial Officer of the brand retail and wholesale business based in New York. Mr Baudet will remain based in Geneva at Harry Winston's watch manufacturing facility for the immediate future before moving to North America later this year. Mr. Baudet began his career with Ernst & Young in Africa and Paris auditing oil and mining companies in Africa followed by a period with PricewaterhouseCoopers in London where he focused on software companies. He then joined Richemont International as Group Senior Internal Auditor followed by assignments as Controller for Alfred Dunhill in London and Cartier International in Paris and Geneva before becoming the Controller for Cartier North America based in New York. Most recently he has been the Regional Chief Financial Officer for the Richemont Group businesses in Europe, the Middle East and South America. Mr. Baudet replaces Alan Mayne. Mr. Mayne will remain with the Company for a transition period to April 30, 2011.

EACOM Timber Corporation (TSX-V: ETR) announced the appointment of Marc Girard as its Executive Vice-President and CFO. Mr. Girard replaces Michael Liggett, the former CFO who will remain with the Company on a consulting basis. Prior to joining EACOM, Mr. Girard served as Senior Vice-President and Chief Financial Officer of SR Telecom, a TSX-listed company, and Vice-President and Chief Financial Officer of Aeroplan Income Fund, a Canadian income trust listed on the TSX. Previously, Mr. Girard was Vice-President and Treasurer at Quebecor and Quebecor Media, and he held various senior finance roles with BCE and Bell Canada.

Parkland Energy Services Inc. (TSX-V: PKE) announced that its Chief Financial Officer Allan Slobodian has resigned. As a replacement, the separator packages company has elected Bev Roome to that position. Roome is a Chartered Accountant and has been consulting independently in the Red Deer business community for the past year in both a Chartered Accountant role and officer for several local businesses. In her earlier role, Roome worked in public practice at Collins Barrow Red Deer LLP as well as owned and managed a small Red Deer based oilfield consulting company.

Craig Wireless Systems Ltd. (TSX: CWG), is pleased to announce that it has appointed Murray Bamforth as its Interim Chief Financial Officer. Mr. Bamforth replaces Wesley Thiessen, the Company's current Chief Financial Officer, who, as earlier announced, will be leaving Craig Wireless effective February 28, 2011 in order to pursue other career opportunities. Mr. Bamforth has been engaged on an interim basis while the Company continues its search for a permanent replacement CFO. Previously Mr. Bamforth held various senior positions with Manitoba Telecom Services Inc., Bell West Inc. and Allstream Inc., including Chief Corporate Officer, Chief Transition Officer, Corporate Controller, CFO and Internal Audit & Risk Management. Mr. Bamforth is currently the President of his own management consulting practice specializing in business planning, processes, transformation and financial reporting, having recent engagements with both large and small public companies. Mr. Bamforth was also previously an external audit manager for several years with Touche Ross & Co. (now Deloitte & Touche).

Canadian Imperial Venture Corp. (TSX-V: CQV) announced that Steven M. Millan, Chairman, President and CEO, will retire from his current positions in the Company effective February 8, 2011. Gerard Edwards, current CFO, will assume the positions of CEO and President in addition to his responsibilities as CFO.

Greenwin Inc. announced the appointment of Haya Zilberboim as their new CEO. Zilberboim has been in the business of real estate, investment banking, operations and finance for more than 20 years. She joins Greenwin from Fishman Holdings, where she managed the company's portfolio of North American residential and commercial properties as its COO and CFO.

Pine Cliff Energy Ltd. (TSX-V: PNE) announced that Robb D. Thompson has agreed to join the company, initially as Vice President, Finance, and will be promoted to Chief Financial Officer (CFO) effective March 31, 2011 (succeeding the existing CFO, Garth E. Schultz, who will be retiring). Mr. Thompson brings extensive experience as a previous CFO with other oil and gas companies, and as a partner with a major accounting firm.

Geomark Exploration Ltd. (TSX-V: GME) announced that Robb D. Thompson has agreed to join the company, initially as Vice President, Finance, and will be promoted to Chief Financial Officer (CFO) effective March 31, 2011 (succeeding the existing CFO, Garth E. Schultz, who will be retiring). Mr. Thompson brings extensive experience as a previous CFO with other oil and gas companies, and as a partner with a major accounting firm.

Bonterra Energy Corp. (TSX: BNE) announced that Robb D. Thompson has agreed to join the company, initially as Vice President, Finance, and will be promoted to Chief Financial Officer (CFO) effective March 31, 2011 (succeeding the existing CFO, Garth E. Schultz, who will be retiring). Mr. Thompson brings extensive experience as a previous CFO with other oil and gas companies, and as a partner with a major accounting firm.

TMX Group Inc. (TSX: X) announced that upon the merger of the TSX and the LSE, the group’s new CFO will be Michael Ptasznik, current CFO of TMX. Mr. Ptasznik will be based in Toronto.

Northland Power Inc. (TSX: NPI) announced the appointment of Paul Bradley as Chief Financial Officer. Mr. Bradley will assume his new position on April 1, 2011. Most recently Mr. Bradley was Managing Director and Head of Power and Utilities (Corporate Finance) at Macquarie Capital Markets Canada Ltd. Prior positions include Vice President, Electricity Resources at the Ontario Power Authority, and Executive Director at CIBC in the Global Power and Utilities Group. Earlier in his career, Paul held various positions in project development, finance, treasury and risk management at Duke Energy Corporation. Paul was also the founder and Managing Director of PJB Energy Solutions, a direct investment and financial advisory organization dedicated to clean technologies and renewable energy. Tony Anderson, Northland's CFO from its earliest days and financial architect of much of its growth, will remain a full member of the leadership team as Chief Investment Officer, responsible for directing new financings.

Relentless Resources Ltd. (TSX-V: RRL) announced that Randall Boyd has been appointed Vice-President, Finance, and Chief Financial Officer of the Company. Mr. Boyd has worked for more than 25 years with Canadian public and private oil and gas companies, handling a wide range of financial and corporate matters for various private clients. Randall was Chief Financial Officer at Masters Energy Inc., a TSX listed public company, from 2004 until its sale in April, 2009. Randall was also Vice-President, Investor Relations, at Chieftain International Inc. from October 1999 until its sale in August 2001. Mr. Boyd replaces Hugh M. Thomson who resigned.

CTV Inc. announced that several top-level managers, including chief financial officer John Gossling, are leaving the company.

Brigus Gold Corp. (TSX: BRD; NYSE Amex: BRD) announced that Dana Hatfield will be appointed Chief Financial Officer following the retirement of Melvyn Williams, the Company’s current Senior Vice President and Chief Financial Officer. Mr. Hatfield will join Brigus’ senior management team in March 2011 and will initially work alongside Mr. Williams who will remain with the Company through a transition period ending the second quarter of 2011. Mr. Hatfield, who joins the Company after serving as Senior Vice President, Finance, at Gammon Gold Inc., will be based in the Company’s head office located in Halifax, Nova Scotia, Canada. Before his position with Gammon, he worked at Sysco Food Services of Atlantic Canada and Grant Thornton LLP. Mr. Hatfield graduated from Dalhousie University with a bachelor of commerce degree.

Osum Oil Sands Corp. ("Osum"), a privately held Alberta in situ oil sands company, announced that Victor Roskey has joined the company as Chief Financial Officer. Previously, Mr. Roskey held senior management positions at EdgeStone Capital Partners, Enterra Energy Trust, Scotia Waterous and Citibank Canada. He has served on numerous public and private company boards.

Clean Power Concepts Inc. (OTC Bulletin Board: CPOW) announced that Randall W. Edge has joined the company as Chief Financial Officer.

Hanfeng Evergreen Inc. (TSX: HF) announced that Paul Begin has resigned as Chief Financial Officer of the Company. Hanfeng has initiated a search for a new Chief Financial Officer. Mr. Begin will remain with the Company for up to 90 days to assist in the transition.

The Carbon2Green Corporation (TSX-V: CGN) announced the resignation of Yves C. Renaud from the position of Chief financial officer.

Moneta Porcupine Mines Inc. (TSX: ME, OTC: MPUCF, XETRA: MOP) announced the appointment of Richard Boulay as interim Chief Financial Officer. The role of acting Chief Financial Officer was previously held by Ian C. Peres, who continues as the Company's President and Chief Executive Officer and Director. Mr. Boulay served as San Gold Corporation's first Chief Financial Officer from 2005 until June 2007.

St. Augustine Gold and Copper Limited (formerly Ratel Gold Limited) (TSX: SAU) announced that it has added Donald B. Mills to the CFO role. Mr. Mills brings experience and leadership to St. Augustine. Most recently, as CFO, he provided the financial stewardship during ASARCO LLC's bankruptcy proceedings. Prior to ASARCO, he rebuilt and upgraded the shared services infrastructure of HealthSouth in the wake of one of the largest accounting frauds in U.S. history.

If you have news about CFOs on the move, or any comments on this feature, please email us.

How much is a CFO really worth?

2011-02-10T09:02:00.000-05:00

I have the pleasure of speaking with CFOs every day. I always enjoy my conversations with Chief Financial Officers, because unlike the accountant stereotype, CFOs are engaging and personable individuals.

Common question I get from CFOs are:

How’s the market? – When they ask this question, they are specifically asking about themselves. CFOs are intelligent individuals, and have risen to their current status because they have been able to identify opportunities and take advantage of them, both for themselves and their employers.

What am I worth on the market? – Some may see this question as a question of their loyalty to their current employer. An article written in Accountancy Age (The price of your loyalty) identifies that this question is really in the best interest of the employer. If a company’s second most senior and reliable person is being paid below market, the company is facing the risk that they will leave.

Contrary to news items which identify Chief Financial Officers for financial misconduct, these are really rare. From my experience, CFOs are the people in the company most likely to ensure proper financial conduct, and in certain situations CFOs are put in by a Board to balance out a cowboy CEO.

So what is a CFO really worth?

A great CFO is worth more than he or she is being paid. Because if your CFO is really good, and you are not paying her or him enough, someone else will.

Canadian CFOs on the Move – week ending February 4, 2011

2011-02-06T21:45:00.002-05:00

Companies with CFOs on the Move this week include: Aegis Investment Management (Golf), Inc., Biosign Technologies Inc., Bear Creek Mining, New West Energy Services Inc., Healthscreen Solutions Inc. , Endeavour Mining Corporation, BioWest Therapeutics Inc., Border Petroleum Corp., Touchstone Exploration Inc., Dundee Precious Metals Inc.

Aegis Investment Management (Golf), Inc. (TSX-V: AIM) announced the appointment of David B. Gordon as the Company's new Chief Financial Officer. Acting Chief Financial Officer, Michael Levy, has relinquished his Chief Financial Officer duties as Mr. Gordon assumes his new role allowing Mr. Levy more time to attend to his duties as Aegis's Executive Vice President and Chief Investment Officer. Mr. Gordon is an accomplished finance executive with over 15 years of management experience, primarily in the software products and services industry, including CFO at The Software MacKiev Company and Swatchbox Technologies. Prior roles include Vice President of Finance and Operations for Queues Enforth Development, Inc.

Biosign Technologies Inc. (TSX-V: BIO) announced the formal appointment of Scott Worthington as Chief Financial Officer. Mr. Worthington has over 30 years of senior financial and executive management experience, including 9 years at Dell Computer Corporation, where he held numerous positions including Chief Financial Officer of the Canadian subsidiary. From 2008 to 2010, Mr. Worthington was Chief Financial Officer of NetShelter Technology Media. Prior to NetShelter, Mr. Worthington served as WaveRider Communication Inc.'s Vice President and Chief Financial Officer for eight years.

Bear Creek Mining (TSX-V: BCM) announced that Brad Blacketor has been appointed Chief Financial Officer of the Company, replacing Steve Krause. During the past 2 years, Mr. Blacketor has served as a financial consultant providing contract financial and accounting services to the mining industry. Previously, he was Vice-President and Chief Financial Officer of Metallica Resources Inc. Prior to Metallica, Mr. Blacketor served as Chief Financial Officer of MinCorp Ltd., and held senior management positions with Pincock, Allen & Holt, Inc. and Touche, Ross & Co.

New West Energy Services Inc. (TSX-V: NWE) announced that Pardeep Sibia has been appointed Chief Financial Officer of the Corporation. Richard J. Collens has stepped down as the Chief Financial Officer of the Corporation but has been appointed the Chief Operating Officer of the Corporation's wholly-owned subsidiary, New West Drilling Fluids Inc. ("NWDF").

Healthscreen Solutions Inc. (TSX-V: MDU) announced that Anastasia Chodarcewicz, Heathscreen's Chief Financial Officer, will be leaving the Company. The Company expects to fill the roles of Chief Financial Officer within the next few months.

Endeavour Mining Corporation (TSX: EDV) announced that Christian Milau will assume the position of CFO of Endeavour effective April 1, 2011. His international background has spanned over 12 years including most recently as Vice President, Treasurer of New Gold Inc. a TSX and AMEX listed intermediate gold producer with operating mines in the United States, Mexico and Australia and development projects in Canada and Chile. Prior to this he was a Vice President with Deloitte & Touche LLP Corporate Finance and BNP Paribas Corporate Finance, in Canada and the U.K. respectively, where he advised on public and private company mergers and acquisitions and equity transactions. Bill Koutsouras has advised Endeavour that his decision to resign as CFO will be effective March 31, 2011.

BioWest Therapeutics Inc. (TSX: BWE) announced that Ann Fehr has been appointed as chief financial officer of the Company. She currently serves as chief financial officer for Global Minerals Ltd., New High Ridge Resources and Global Uranium. Jeff Charpentier has resigned from his position as chief financial officer of the Company to pursue other career opportunities.

Border Petroleum Corp. (TSX-V: BOR), announced the appointment of Ying Yuen as Chief Financial Officer of the Company. Prior to his appointment with Border, Mr. Yuen served as Chief Financial Officer and was a founding shareholder of Bountiful Resources Inc., a private oil and gas exploration and production company with core areas in the Red Earth and Garrington areas of Alberta, which was sold to Barrick Energy Inc. in May 2010. Mr. Yuen has also served as Chief Financial Officer for a number of private and public oil and gas and oil and gas services companies since 1998. Mr. Yuen replaces Gerry Mendyk, who has taken the position of Chief Executive Officer of a Calgary based oil and gas services company. Mr. Mendyk will continue to assist Border on a consulting basis with respect to the transition.

Touchstone Exploration Inc. (TSX-V: TAB.U) announced the appointment of Gregory Marr as Chief Financial Officer of the Company. Mr. Marr has served as Chief Financial Officer and Director of several private and public companies, particularly oil and gas companies that are or have been listed on the TSX Venture Exchange.

Dundee Precious Metals Inc. (TSX: DPM, DPM.WT, DPM.WT.A) announced that Stephanie Anderson is stepping down as Executive Vice President and Chief Financial Officer of the Company ("CFO"), effective February 28, 2011, following the announcement of its 2010 year-end financial results. The search for the next CFO, during this important period of growth, is underway. Patrick Lim, Director, Finance and Global Controller of the Company, will be appointed Interim CFO until the search for a successor has been concluded.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Accountants are made, not born. (Or, How to become an Accountant.)

2011-02-06T11:36:00.001-05:00

The challenge to someone who has made a career decision to become an accountant is: How do I become one?

A critical area of importance in becoming an accountant is education. Choosing the right university degree and right accounting designation is not an easy process.

Once you have decided the educational path to take, it is important to consider what career path to take. The most difficult question for someone starting their career is: How do I get my first job?

This question is difficult to answer, because most companies looking to hire want someone who can do the job and not have to be trained. So where does this leave the first time job seeker?

Co-Op Programs: The best way to get your first job is to have already had some experience. Co-op programs at universities are an excellent way to get that critical first job experience.

Clerical Office Work: Another way is to find an office clerical summer job. Accounting is more than just office work, but it is office work. Getting a summer job where you will help out with clerical tasks in an office can give you a feel for some of the key components of work life in an office. If you've graduated school and have never worked in an office environment, do you really know what you're getting yourself into? An Office is certainly a very different place then Campus.

Volunteer: Volunteering to do accounting tasks for a non-profit is an excellent way to get a leg up on starting your career. Many non-profits in your town have limited funds to pay for salaries, but do have many accounting tasks that need to get done. It can be a great way to learn the job of accountant.

Who you know: Don't forget calling on family and friends. Someone you know (or someone that knows someone you know) runs a small business. It could even be a home based business. Offer to help an entrepreneur with their accounting (for a small fee) - they will be very grateful for the help and you can learn about accounting for a business.

Another point to keep in mind – there is no better time than now to start building your career network. As you begin your transition from university or college to your career, it is very important to start using LinkedIn. Facebook is great for college life, but has limits in its value in your future career life. (Read our blog post: Is Facebook a Career Killer?) The earlier you get your 'friends' into a career focused networking tool like LinkedIn, the more opportunity you will have to add value to your future career and future employers. In the business world, who you know is as important as what you know. You will want to have your network you have developed at school work for you in your career.

So, how did you get your first accounting career opportunity?

LinkedIn Connections – What is your Policy?

2011-02-01T16:48:00.001-05:00

LinkedIn has certainly become the online place for business people to connect and stay in touch. While it is a very powerful tool, it is only as powerful as you make it.

Networking is more effective when you use it to give to your network as well as receive from it. The same applies on LinkedIn. If you want LinkedIn to work for you when you need it (i.e., when you are looking for work), you need to work with, assist and engage your network when you don’t need your network.

As someone who uses LinkedIn on a daily basis to connect and add value to my network, I regularly get LinkedIn requests. Many times, it is from individuals I do not know. Yet.

I am interested in making genuine connections with people. It is my business to know people and meet people - LinkedIn is a great tool for this. I’m not interested in the game of “How many Connections do you have?”

So how do I choose who to connect with?

I connect with people that:

I know
I have met in person
I have spoken with
I have engaged with online

When I get a request from someone I do not know it is my policy to reply to them and ask questions that will help me get to know them better before I actually connect.

I categorize networkers on LinkedIn into the following categories:

1) LIONs (LinkedIn Open Networkers). These people have a policy to connect with anyone and anybody. They call themselves “Open Networkers” but in my opinion are not real networkers – they are just looking for leads to move their agenda forward and have access to names they may not otherwise have.

2) Real Networkers. These people use LinkedIn to support their in-person networking activities, not to replace their in-person networking. These people are meeting people in person and using LinkedIn to stay connected and engaged with their network when they are not in front of them. Real Networkers do develop relationships on LinkedIn, but only as part of an engagement strategy with their network, groups and questions to build real relationships, even if they start them online.

3) Passive Networkers. This is how I would categorize the majority of people on LinkedIn. Passive LinkedIn Networkers connect with some people they know on LinkedIn, but really don’t go out of their way to connect or engage their network. These people are generally passive networkers in their day to day lives. While I am an avid evangelist of the powers of networking, I am aware that most people don’t love networking, and feel more comfortable not networking. For them, just being on LinkedIn and passively being involved is certainly a step up to those that do no networking at all.

4) I’m here, but leave me alone. There are people who have a profile on LinkedIn because someone they respect asked them to be a part of it, but have no desire to put an effort into networking at all. I respect the choice these people have made, but I feel for them – they are missing out on a revolution that is positively affecting the careers and personal lives of everyone around them.

I categorize myself as a Real Networker. What kind of LinkedIn Networker are you? What is your LinkedIn Connection Policy?

Canadian CFOs on the Move - week ending January 28, 2011

2011-01-30T21:45:00.002-05:00

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.

Don’t leave your job without it.

2011-01-27T11:39:00.000-05:00

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?

You’ve been a CFO for a long time. What’s next?

2011-01-25T10:06:00.000-05:00

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:

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.

Canadian CFOs on the Move - week ending January 21, 2011

2011-01-23T21:45:00.017-05:00

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.

Canadian CFOs on the Move - week ending January 14, 2011

2011-01-16T21:45:00.001-05:00

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.

5 Reasons why CFOs don't Tweet (and 5 Reasons why they should)

2011-01-13T21:45:00.001-05:00

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:

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?

You’re on LinkedIn. Now what?

2011-01-11T16:25:00.000-05:00

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:

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.

You can look for other applications that will allow you to enrich your profile.

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.

Canadian CFOs on the Move - week ending January 7, 2011

2011-01-10T11:42:00.001-05:00

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.

Inside the Mind of the CFO: Understanding the CFO / Lawyer Relationship

2011-01-04T09:33:00.000-05:00

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.

Inside the Mind of the CFO: Understanding the CFO / Lawyer Relationship

View more presentations from Samuel Dergel - CFO2Grow.

Canadian CFOs on the Move - week ending December 31, 2010

2011-01-03T11:50:00.000-05:00

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.

Canadian CFOs on the Move - week ending December 23, 2010

2010-12-28T08:47:00.000-05:00

Companies with CFOs on the Move this week include: RPT Resources Ltd., United Reef Limited, Evolving Gold Corp., Kiska Metals Corporation, Shoreham Resources Ltd., Sears Canada Inc., High River Gold Mines Ltd., Crowflight Minerals Inc., Ace Aviation Holdings Inc., Bayshore Petroleum Corp., Cougar Oil and Gas Canada Inc., Canadian Phoenix Resources Corp., Malbex Resources Inc., Valeant Pharmaceuticals International, Inc.

RPT Resources Ltd. (TSX-V: RPT) announced the appointment of Ian Habke as CFO. Most recently Mr. Habke was Director of Supply Management for Nexen Inc. Other roles with Nexen have included Finance Director for their UK operations and VP Finance for Yemen. His corporate roles have included President of Nexen Energy Holdings International in the UK and assignments in financial reporting and budgeting and strategic planning.

United Reef Limited (TSX-V: URP) announced the appointment of George Supol as Chief Financial Officer ("CFO") of the Company. The Company also wishes to announce the resignation of Marilyn Turner from her positions as CFO and Secretary of the Company. Mr. Supol is the founder and President of inbusys inc., a Toronto-based consulting firm, which provides both accounting and corporate IT services to its clients. Mr. Supol has been providing accounting and other advisory services to the Company since May of this year and he also acts as CFO for two other TSX listed resource companies.

Evolving Gold Corp. (TSX: EVG, FSE: EV7) announced the appointment of Charles E. Jenkins as its Chief Financial Officer. Vitaly Melnikov, who has served as the Company's Chief Financial Officer since 2008 has left Evolving Gold to pursue other opportunities in the mining exploration and development sector.

Kiska Metals Corporation (TSX-V: KSK) announced the appointment of Adrian Rothwell to the position of Chief Financial Officer, replacing Dorothy Miller who is stepping down as Kiska's CFO to join Evrim Metals Corporation in a similar capacity. Kiska recently sold its Mexican subsidiary to Evrim. Evrim is in the process of listing on the TSX Venture Exchange. Mr. Rothwell is currently Chief Financial Officer of Centurion Minerals Ltd. and MBMI Resources Inc., and has held senior positions within the mining industry for the last 15 years.

Shoreham Resources Ltd. (TSX-V: SMH) announced the appointment of Dorlyn Evancic as Chief Financial Officer ("CFO"). Mr. Evancic has served as CFO for Northern Continental Resources, a uranium exploration company, until its acquisition by Hathor Exploration Limited in November 2009, and was also director and CFO of Gemco Minerals Inc. He currently acts as CFO for Hemisphere Energy Corporation (TSX-V: HME), an oil and gas exploration and development company.

Sears Canada Inc. (TSX: SCC) announced that the Board of Directors of the Corporation has appointed Sharon R. Driscoll as Senior Vice-President and Chief Financial Officer. Ms. Driscoll has held her current position with the Company as Senior Vice-President, Finance, since November of 2008. Prior to joining Sears in 2008, Ms. Driscoll was employed with Loblaw Companies Limited, holding the position of Senior Vice-President, Corporate Development, and before that Senior Vice-President, Finance National Merchandising and Senior Vice-President, Finance Retail Ontario Region. Ms. Driscoll began her employment with Loblaw Companies Limited in 1987. Allen R. Ravas, who was appointed as Sears Canada's Senior Vice-President and Chief Financial Officer in October of 2008, is returning to Sears Holdings as the Chief Administrative Officer of Orchard Supply Hardware of San Jose, California, a majority-owned subsidiary of Sears Holdings Corporation.

High River Gold Mines Ltd. (TSX: HRG) announced the resignation of Andrei Maslov as a Chief Financial Officer and Director of the Company.

Crowflight Minerals Inc. (TSX: CML) announced that David Hunter, Chief Financial Officer has left the Company, and that Derek Liu has been appointed as the Chief Financial Officer and Corporate Secretary.

Ace Aviation Holdings Inc. (TSX: ACE.A, ACE.B) announced that, with effect from January 1, 2011, Brian Dunne, currently Executive Vice President and Chief Financial Officer will become the President of ACE. His new title will be President and Chief Financial Officer. Robert Milton will continue in the role of ACE Chairman and Chief Executive Officer.

Bayshore Petroleum Corp. (TSX-V: BSH) announced that Terry Zimaro has been appointed Chief Financial Officer of the Corporation. Mr. Zimaro replaces Stuart Chow, who had been acting as Interim Chief Financial Officer of the Corporation. Mr. Chow continues to serve as director of the Corporation.

Cougar Oil and Gas Canada Inc. (OTCBB:COUGF) announced that Richard Carmichael will join Cougar Oil and Gas Canada on January 3, 2011 as Vice President, Finance. Richard has over 22 years of oil and gas experience with both Canadian and US reporting - most recently with Steen River Oil and Gas.

Canadian Phoenix Resources Corp. (TSX-V: CXP) announced that John Downes has been appointed interim Chief Financial Officer, replacing Tim Moran.

Malbex Resources Inc. (TSX-V: MBG) announced that Stephanie Malec has been appointed as the Company's Chief Financial Officer effective January 13, 2011. Prior to joining Malbex, Ms. Malec served as Controller at Starfield Resources Inc., and previously at Dundee Precious Metals Inc. She began her career at PricewaterhouseCoopers LLP.

Valeant Pharmaceuticals International, Inc. (NYSE: VRX, TSX: VRX) today announced that Philip W. Loberg, Valeant's former senior vice president and corporate controller, has been named to the role of interim chief financial officer, effective immediately, replacing Peggy Mulligan, former chief financial officer, who has elected to resign in order to pursue other interests. Mr. Loberg joined Valeant in 2000 as treasurer and was appointed chief financial officer of North America in 2006. In 2007, he was appointed to his most recent role of senior vice president, group financial controller. Prior to joining Valeant, Mr. Loberg was the vice president, controller at Calcomp Technology, Inc., a publicly traded, majority-owned subsidiary of Lockheed Martin Corporation, and was acting chief financial officer early in his tenure.

If you have news about CFOs on the move, or any comments on this feature, please email us.

CFOs on the Move - week ending December 17, 2010

2010-12-19T19:45:00.022-05:00

Hamilton Thorne Ltd., Med BioGene Inc., Gold Hawk Resources Inc., King's Bay Gold Corporation, Canada Fluorspar Inc., Silvore Fox Minerals Corp., Intermap Technologies, Blackline GPS Corp., The City of Swift Current, SK, International Minerals Corporation, Canaco Resources Inc., TVI Pacific Inc., Dia Bras Exploration Inc.

Hamilton Thorne Ltd. (TSX-V: HTL) announced the appointment of Michael Bruns as the Company's new Vice President Finance and Chief Financial Officer (CFO). Mr. Bruns was most recently serving as CFO of Dover Saddlery Inc. (NASDAQ: DOVR). Prior to joining Dover, Mr. Bruns served as Vice President of Finance for CPS Direct, and was the Controller for Northeast Mobile Communications. Prior to that, he served as Director of Financial Reporting for St. Johnsbury Trucking Company and as Corporate Controller for R&S Corporation, as well as an Auditor for McGladrey Pullen & Co.

Med BioGene Inc. (TSX-V: MBI) announced the appointment of Scott Davis as Chief Financial Officer in replacement of David Matthews. Mr. Davis is a partner of Cross Davis & Company LLP Certified General Accountants, a firm focused on providing accounting and management contract services for publicly-listed companies.

Gold Hawk Resources Inc. (TSX-V: GHK) announced that Omar Salas, Vice President, Finance and Chief Financial Officer, will be leaving the Company in early 2011 in a planned transition. Gold Hawk also announced that Carlos Escribano is the incoming Vice President, Finance and Chief Financial Officer.

King's Bay Gold Corporation (TSX-V: KBG) announced the return of Ray Prefontaine as the Corporation's Chief Financial Officer. Mr. Prefontaine was a Director from August 2003 to March 2010 and was the Chief Financial Officer from January 2005 until March 2010. Ray is presently the Chief Financial Officer of Mainstream Minerals Corporation (TSX-V: MJO) and a Director of Accolade Resources Corporation (a private company based in Winnipeg, MB). He is currently the Chairman and a Director of the Saint-Boniface General Hospital Auxiliary Inc.

Canada Fluorspar Inc. (TSX-V: CFI) announced the appointment of John A. Higginbotham as its Chief Financial Office. Mr. Higginbotham has had an extensive career in finance, accounting and the capital markets. He most recently served as Chief Financial Officer for RBC Dominion Securities, Inc., and held a number of other senior executive positions during his tenure with RBC which began in 1983.

Silvore Fox Minerals Corp. (TSX-V: SFX) announced the appointment of George Supol as Chief Financial Officer of the Corporation. Mr. Supol is also Chief Financial Officer of Viking Gold Exploration Inc. He is also the founder and President of inbusys inc., a Toronto-based consulting firm which services both corporate I.T. and accounting clients. The Corporation also announced that Cameron McIntosh, Chief Financial Officer, have resigned from his position.

Intermap Technologies (TSX: IMP) announced that Richard Mohr will rejoin the organization as chief financial officer and senior vice president effective January 1, 2011. Richard had previously worked for Intermap from 2003 until 2010 and served as the Company’s chief financial officer during that period.

Blackline GPS Corp. (TSX-V: BLN) announced that Paula Kaner has tendered her resignation as the Company's Chief Financial Officer ("CFO") effective January 20th, 2011. The company is pleased to announce Peter Dorrius will take on the role of interim Chief Financial Officer for Blackline on January 21, 2011. Mr. Dorrius has served as the Company's Controller since July 2010.

The City of Swift Current, SK announced that Tim Marcus, current director of finance, will assume the duties of deputy CAO and Chief Financial Officer.

International Minerals Corporation (TSX: IMZ, Swiss stock exchange: IMZ) announced the appointment of Scott Brunsdon as its new Chief Financial Officer (“CFO”) effective January 3, 2011. Mr. Brunsdon brings to IMZ over 25 years of financial and management experience in the mining sector with both junior and major companies, including 17 years with Placer Dome in the US and Canada. He has also held senior management positions with Dayton Mining, Hillsborough Resources and Revett Minerals. Most recently he was a financial advisor to the CFO for Timmins Gold assisting the company to enhance its internal and public reporting functions as it transitioned to an operating company from a pure exploration company.

Canaco Resources Inc. (TSX-V: CAN) announced the appointment of Shannon Ross to the position of Chief Financial Officer. Ms. Ross began her career in public practice, moved to the mining industry as an internal auditor for Cominco Ltd., and has served as CFO and Corporate Secretary for several mining companies including Northern Orion Resources, ValGold Resources, Sultan Minerals and Emgold Mining. She replaces Jacqueline Tucker, who is leaving the Company to pursue other interests.

TVI Pacific Inc. (TSX: TVI, OTCQX: TVIPF) announced the appointment of Patrick B. Hanna as Chief Financial Officer of the Company. Most recently, Mr. Hanna was Director of Financial Excellence for Kazakhmys Copper Corporation. Prior to that, Mr. Hanna represented Glencore International as Vice-President for Project Finance for its lead and zinc facility, Kazzinc, in Kazakhstan, and High River Gold in its gold mining operation in Russia. Mr. Hanna's experience includes 18 years living and working internationally with various other companies including Gulf Canada Resources, Neste Oil and Ernst & Young. Mr. Hanna will be based in the Calgary office.

Dia Bras Exploration Inc. (TSX-V: DIB) announced the appointment of Ernesto Duran as Chief Financial Officer of the Company in replacement of Mark Shonnard who has tendered his resignation to pursue personal interests.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Why companies have unfilled jobs

2010-12-15T12:09:00.000-05:00

My fellow blogger, Cindy Kraft of CFO-Coach, was kind enough to ask me my thoughts on this topic, which she blogged about.

Her starting point was a recent SmartBrief poll, in which 72.5% of surveyed companies indicated they had unfilled openings.

My first impression on seeing the poll was that companies that are looking to hire will have unfilled job openings. Only those companies that are not hiring will not have unfilled jobs, because they are not hiring. I believe the poll would be more effective asking: "How long does it take to fill your open job positions?"

Cindy brings up a great point in saying that she believes the hiring process is broken. I agree. Many companies are not properly going about a recruitment process that works.

For a hiring process to be effective, it needs to have the following elements:

Outreach – Many companies have recognized the importance of building stronger corporate recruitment strategies, and they are doing so. However, even with these stronger tactics, organizations cannot properly reach the candidates needed. Search firms are able to fill positions because they are able to outreach to the right candidate pool. This outreach component is a necessary element to a successful search.

Sales – The company AND the job needs to be sold. Many employers make the poor assumption that the company and the job sell themselves. Potential candidates for any job need to truly understand the value of the company and job and how it fits into their life and career.

Match – Matching a candidate to a job and a company is not an easy task, yet many employers use gut feel and resume key word matching to the job description to assess appropriateness of a candidate for a job. Many companies focus on assessing the candidate for how they match the company, and not assessing how the company matches to the candidate’s needs and values.

Offer – We consistently see this area as the place where the wheels fall off. Regardless how effective the rest of the recruitment process is, being successful at the offer stage gets you the placement. The pieces necessary for a successful accepted offer need to begin at the beginning of the process, not at the end. Acceptance of an offer is much more than just about salary.

Companies wishing to ensure a more successful hiring process need to ensure they have these four elements. Using an experienced internal or external search partner can improve the process. However, it is the ultimate responsibility of the hiring authority to ensure that the process is effective.

(I would like to thank my colleague Bethany LaMorre for her valuable input in preparing this blog).

Canadian CFOs on the Move - week ending December 10, 2010

2010-12-12T19:45:00.020-05:00

This week's companies with CFOs on the Move: Duluth Metals Limited, Geomark Exploration Ltd., Argonaut Exploration Inc., ILI Technologies (2002) Corp., AgriMarine Holdings Inc., Adventure Gold Inc., Cobre Exploration Corp., AndeanGold Ltd., Jazz Air Income Fund, Pason Systems Inc.

Duluth Metals Limited (TSX: DM, DM.U) announced the appointment of a new CFO. The new CFO is Marvin E. Dee. Prior to joining Duluth Metals, Mr. Dee was CFO and COO with Spectrum Plastics Group. Mr. Dee is replacing the former CFO, John A. Francis, who is retiring from the Company.

Geomark Exploration Ltd. (TSX-V: GME) has announced that Garth Schultz, the Company's Chief Financial Officer (CFO), will be retiring effective April 30, 2011.

Argonaut Exploration Inc. (TSX-V: AGA) announced that Dale Hansen has been appointed as the Corporation's Chief Financial Officer and a director. Mr. Hansen replaced Charles Chebry, who resigned as the Chief Financial Officer of the Corporation. Mr. Chebry will continue to serve as a director of the Corporation.

ILI Technologies (2002) Corp. (TSX-V: ILI), announced the resignation of Chief Financial Officer Shamel Costandy, and announced the hiring of Gord Travis into the role of Chief Financial Officer.

AgriMarine Holdings Inc. (TSX-V: FSH, Frankfurt: A2G) announced the appointment of Frank Guo as Vice President and Chief Financial Officer of the Company. Mr. Guo replaces John H. Buchanan, who will continue as a Director of the Company and Chairman of the Audit Committee. Prior to joining AgriMarine, Mr. Guo held the position of Vice President and Chief Financial Officer of Daytek Electronics Corporation, a division of Daewoo International Corporation, a Korea Composite Stock Price Index (KOSPI) listed multibillion dollar company with an extensive international network. Earlier in his career, Mr. Guo was an Accounting Manager of Canadian Tire Corporation, an Auditor of Australian Audit General Office, and a university lecturer in China.

Adventure Gold Inc. (TSX-V: AGE) announced the appointment of Robert Boisjoli to the position of Chief Financial Officer of the Company, following the departure of Khadija Abounaim as CFO of the Company. Mr. Boisjoli is currently a Managing Director at Atwater Financial Group and Chief Financial Officer of Brionor Resources Inc. (TSX-V: BNR). Mr. Boisjoli is also a Director and audit committee chairman of both Aptilon Corporation (TSX-V: APZ) and Mitec Telecom Inc. (TSX: MTM). He previously held the position of Chief Financial Officer of both Topigen Pharmaceuticals and Xanthus Pharmaceuticals Inc. He was also an investment banker with various Canadian securities' firms and contributed to the creation of a mutual fund in the Quebec market.

Cobre Exploration Corp. (TSX-V: CKB) announced that Alec Peck has been appointed as the Company's Chief Financial Officer, replacing Paddy Nicol who resigned his position on the Board of Directors as well his position as Chief Financial Officer.

AndeanGold Ltd. (TSX-V: AAU) announced that David Cross has been appointed Chief Financial Officer of the Company, replacing John Watt who has resigned his position. Mr. Cross is currently a partner in the firm of Cross Davis & Company LLP Certified General Accountants. His past experience consists of senior management positions, including five years at Davidson & Company LLP Chartered Accountants as Manager. Prior to that, he spent six years with Canadian Communication Products Inc. as its Assistant Controller and three years at Chartered Accountant firms. He is also the CFO of several other TSX-V listed junior mining companies

Jazz Air Income Fund (TSX: JAZ.UN, JAZ.DB) announced the appointment of Richard (Rick) Flynn as Chief Financial Officer effective February 28, 2011, to coincide with the retirement of Allan Rowe after a successful career in finance that has spanned more than 30 years. Rick is currently the Vice President of Finance at Jazz, and has held a number of senior roles since he began his career in the airline industry in 1986.

Pason Systems Inc. (TSX: PSI) announced that James (Jim) Glasspoole, Chief Financial Officer, has left the Company. The responsibilities of CFO will be assumed on an interim basis, by James (Jim) Hill, President, and CEO.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move - week ending December 3, 2010

2010-12-05T19:45:00.006-05:00

MegaWest Energy Corp. (OTCBB: MGWSF) announced the resignation of Kelly D. Kerr, Vice President Finance and CFO.

Vast Exploration Inc. (TSX-V: VST) announced that it has appointed Darren Moulds as Chief Financial Officer. Mr. Moulds appointment follows the resignation of Gary Lobb. Previously, Darren has held management positions in various financial capacities including the CFO of Africa Oil Corp. and the Financial Controller of Upstream Operations of Centurion Energy International Inc. (Dana Gas).

Longford Energy Inc. (TSX-V: LFD) announced that it has appointed Darren Moulds as Chief Financial Officer. Mr. Moulds appointment follows the resignation of Gary Lobb.

Stetson Oil & Gas Ltd. (TSX-V: SSN) announced that it has appointed Darren Moulds as Chief Financial Officer. Mr. Moulds appointment follows the resignation of Gary Lobb.

Chantrell Ventures Corp. (TSX-V: CV) announced the appointment of Paul A. Parisotto as President, CEO and CFO and Director of the Company. Mr. Parisotto was the President and Chief Executive Officer of Arizona Star Resource Corp., from 2004 to 2007, when it was acquired by Barrick Gold Corporation. From November 2008 to June 2009 he was the Co-Interim CEO of Noront Resources Ltd and most recently was the President and Chief Executive Officer of Tamaka Holdings Inc., a private gold exploration and development company. Previously, Mr. Parisotto provided investment banking services to the mining industry.

Petaquilla Minerals Ltd. (TSX: PTQ, OTCBB: PTQMF, FRANKFURT: P7Z) announced the appointment of Ezequiel Sirotinsky as Chief Financial Officer of the Company. Mr. Sirotinsky replaces Julie van Baarsen as the Company's Chief Financial Officer. Mr. Sirotinsky was formerly Director of Finance for Silver Standard Resources, Inc., and Administrative and Finance Manager for AngloGold Ashanti Limited's Cerro Vanguardia Project, a gold and silver mine.

EurOmax Resources Limited (TSX-V: EOX) announced the appointment of Aurora Davidson as Chief Financial Officer. Since 2003, Ms. Davidson has focused on providing CFO services predominantly to companies in the mining sector, including Amerigo Resources Ltd.

Aldridge Minerals Inc. (TSX-V: AGM) announced the appointment of Edward J. Badida as its new Chief Financial Officer, replacing Kim Evans who resigned. Ms. Evans will continue to work for the company as a consultant to assist with the transition of moving the Company's accounts to Toronto.

Shear Minerals Ltd. (TSX-V: SRM) announced the resignation of Greg Hayes as Chief Financial Officer. In the interim, Darcy Ogrodnick, Shear's Controller, will serve as Interim CFO to assist through the transition.

Empire Industries Ltd. (TSX-V: EIL) announced the resignation of David Carefoot as CFO, and announced the return of Campbell McIntyre as CFO of Empire, a position he occupied prior to the hiring of David Carefoot in 2008. In addition to his new responsibilities as CFO of Empire, Mr. McIntyre will retain his duties as President of Empire Iron Works, a key operating subsidiary of Empire. Assisting Mr. McIntyre in the financial function will be Mike Martin, as the newly appointed Director of Finance and Corporate Controller.

Boston Pizza International Inc. ("BPI") announced that Mark Powell will step down as Chief Financial Officer of BPI and will be leaving the company as of December 15, 2010. In conjunction with this departure, Mr. Powell will also resign as Director and CFO of Boston Pizza GP Inc., Managing General Partner of Boston Pizza Royalties Limited Partnership ("BPRLP"), administrator of the Boston Pizza Royalties Income Fund (the "Fund") (TSX: BPF.UN). Mark Powell joined BPI in 2001 as Chief Financial Officer and has been a Director and CFO of Boston Pizza GP Inc. since its inception in 2002. Wes Bews, Vice President of Finance for BPI, will replace Mark Powell on an interim basis as CFO of BPI and will also be appointed as a Director and CFO of Boston Pizza GP Inc. on an interim basis.

Cavan Ventures Inc. (TSX-V: CVN) announced that Harvey Lawson has been appointed Chief Financial Officer of the Company. Mr. Lawson replaces Trevor Sinclair, who resigned as Chief Financial Officer.

Rare Method Interactive Corp. (TSX-V: RAM) announced that Josh Ius has resigned as CFO of the Company.

Fission Energy Corp. (TSX-V: FIS) announced that Gregory Downey has joined the Company as Chief Financial Officer and replaces Andrew Adamson who has stepped down to pursue other opportunities.

YANGAROO Inc. (TSX: YOO, OTC: YOOIF) announced that John Heaven is leaving the position of President and Chief Financial Officer and Director of YANGAROO. John served as President and CEO until June of this year. The company has appointed Michael Galloro, CA as interim Chief Financial Officer.

Frontline Gold Corporation (TSX-V: FGC) announced that Jim Patterson has been appointed as Chief Financial Officer (CFO) replacing Tom Hickey, who stepped down as CFO.

Allied Properties REIT (TSX: AP-UN.TO) announced that Peter E. Sweeney has been appointed Vice President and Chief Financial Officer, replacing Tom Wenner, who is leaving Allied. Mr. Sweeney was formerly Chief Financial Officer and Chief Administrative Officer of a leading real estate brokerage and advisory firm. Prior to that, he was Corporate Controller for a public real estate company and a Senior Accountant with Price Waterhouse.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move – week ended November 26, 2010

2010-11-28T19:45:00.018-05:00

Elgin Mining Inc. (TSX-V: ELG) announced the appointment of Brian Morales as Chief Financial Officer, succeeding the Company's current Chief Financial Officer Dustin Angelo, who will be resigning from the Company effective November 30, 2010. Prior to joining Elgin, Mr. Morales held a finance position with Kinross Gold Corporation and prior to that he was employed in equity research with Credit Suisse Securities (Canada) Inc.

Greenscape Capital Group Inc. (TSX-V: GRN) announced the appointment of Robert Geisthardt as Chief Financial Officer for the company, replacing Paul Plater. Mr. Geisthardt is currently employed in the energy trading division at Powerex Corporation where he is responsible for buying and selling electricity throughout the entire WECC (Western Energy Coordinating Council) including California and MAPP (Mid-Continent Area Power Pool) in real time. Mr. Geisthardt is also a partner at Quantum Advisory Partners LLP, which is a Canadian-based firm that provides advisory services to North American public companies.

Intelimax Media Inc. (OTCBB: IXMD) announced the appointment of Glenn Little as interim CFO and Secretary, repalcing Galit Alon who recently resigned. For the past five years Mr. Little has been working with Intelimax as a consultant doing corporate development activities. From 1999 to 2005 Mr. Little was Director and provided Corporate Development services for Stream Communications Network & Media Inc. From 1993 to 1999 Mr. Little was Vice President and Director of Trooper Technologies Inc. a TSX-V listed company.

Great Western Minerals Group Ltd. (TSX-V: GWG) announced the appointment of Jim Davidson as Chief Financial Officer of the Company. Mr. Davidson was, most recently, Chief Financial Officer with Athabasca Potash Inc. Previously, Mr. Davidson spent 19 years in the finance divisions of Weyerhaeuser in several locations throughout North America.

Yangarra Resources Ltd. (TSX-V: YGR) announced the appointment of James Glessing as Chief Financial Officer, replacing Penny Payne will resign from the position of CFO for the Company, but will continue to provide consulting services to Yangarra on an ongoing basis for the preparation of financial reporting and tax matters. Mr. Glessing’s previous experience includes varying financial roles with Deloitte and Canadian Natural Resources. Mr. Glessing was controller at BlackRock Ventures which was acquired by Shell Canada in 2006. Most recently, he served as CFO and Vice President Finance at North Peace Energy Corp. which was acquired by Southern Pacific Resource Corp.

Huntington Exploration Inc. (TSX-V: HEI) announced that David Dion has been appointed as the Company's Chief Financial Officer.

Canadian Satellite Radio, a new company to be created upon the merger of Sirius Canada and XM Canada, will have Michael Washinushi, the current CFO of XM Canada, become CFO of the new company.

Exploration Orbite V.S.P.A. Inc. (TSX-V: ORT.A) announced that Jacques Bédard has been appointed Vice President Finance and Chief Financial Officer of Orbite. His résumé includes terms as Vice President Finance and CFO for companies such as Softimage and ART, and he has also held senior management positions with Microsoft, among others.

Southern Arc Minerals Inc. (TSX-V: SA) announced that Cyrus Driver has joined executive management as interim Chief Financial Officer, replacing Eduard Epshtein. Mr. Driver was founding partner in the firm of Driver Anderson, Chartered Accountants, and is currently a partner of Davidson & Company, Chartered Accountants. He specializes in servicing TSX Venture Exchange listed companies and members of the brokerage community. Mr. Driver currently serves as director and/or chief financial officer for several TSX Venture Exchange companies.

Swiss Re has appointed Jonathan Turner as chief financial officer of its Canadian operations, effective Nov. 22, 2010. Mr. Turner joins Swiss Re from Ernst & Young, where he specialized in both the property and casualty and life and health insurance sectors. He started his career with Ernst & Young in the United Kingdom and has been located in Toronto since 2001.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Social Media Accountants

2010-11-26T10:50:00.000-05:00

The Accounting Profession is going through an evolution, and maybe even a revolution. This Group is for you if you are a Social Media Accounting (R)evolutionary.

Social Media tools are changing how Accounting Professionals learn and communicate with their clients, employers, the general public and their fellow professionals.

I believe there is value in having a forum for Accountants to discuss the W5s of Social Media and how it affects them. This has led me to create a new LinkedIn Group call Social Media Accountants.

If you believe that there is value in having a forum for this topic, please join and participate in the group, and ask others that are social media active to do the same.

I’m looking forward to your participation.

Canadian CFOs on the Move - week ended November 19, 2010

2010-11-21T19:45:00.012-05:00

Paragon Pharmacies Limited (TSX-V: PGN) announced the appointment of Kristal Kaye as the Company's Chief Financial Officer. Ms. Kaye joined the Company in July 2008 as Corporate Controller and she was subsequently appointed Director of Finance and Administration in August 2009.

Sandspring Resources Ltd. (TSX-V: SSP) announced the appointment of Scott Issel as Chief Financial Officer of the Company, replacing Carmelo Marrelli who has resigned as Chief Financial Officer of the Company. Mr. Issel joined Sandspring in May 2009 as the Controller of GoldHeart Investment Holdings Ltd., a subsidiary company of Sandspring. He assisted in the reverse takeover transaction of Sandspring which served as the Company's Qualifying Transaction for listing on the TSX Venture Exchange. Most recently Mr. Issel served as Controller of Sandspring Resources Inc. and has been instrumental in ensuring a smooth transition to the public capital markets.

Canada Cartage System announced the appointment of David Bacon as the company's Senior Vice President, Finance & Chief Financial Officer. Most recently, he was Chief Financial Officer of SkyPower Corp.

Midlands Minerals Corporation (TSX-V: MEX) announced the appointment of Rakesh Malhotra to the position of Vice President, Finance.

Stroud Resources Ltd. (TSX-V: SDR) announced that it has appointed Mirsad Jakubovic as its Chief Financial Officer. Previously, George Coburn, President and Chief Executive Officer of the Corporation, also served as the Corporation's acting Chief Financial Officer. Mr. Jakubovic is currently the Chief Financial Officer of Medifocus Inc., another TSX-V listed company.

Malaga Inc. (TSX: MLG) announced the appointment of Joey Trombino as Vice-President and Chief Financial Officer, replacing Pierre Monet who was promoted to President of the Company. Mr. Trombino joined Malaga in February 2009 as Director of Finance. He participated in the Company's development and managed the transition to the International Financial Reporting Standards. Prior to this, Mr. Trombino was Vice President and Chief Financial Officer of Positron Technologies and worked in several private and public companies in senior roles.

Rogue Resources Inc. (TSX‐V: RRS) announced the appointment of Larry Johnson as Chief Financial Officer (CFO) of the Company. The Company also announces it has received the resignation of Stephen Pearce as CFO Director.

Craig Wireless Systems Ltd. (TSX: CWG) announced that its Chief Financial Officer, Wesley Thiessen, will be leaving Craig Wireless effective February 28, 2011, to pursue other career opportunities.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move - week ending November 12, 2010

2010-11-14T19:45:00.003-05:00

OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) announced the appointment of Michelle Burris to the position of executive vice president, operations and chief financial officer. Ms. Burris most recently served as senior vice president and chief operating officer for Trubion Pharmaceuticals, Inc. until its recent acquisition by Emergent BioSolutions, Inc. She joined Trubion in 2006 as senior vice president and chief financial officer after holding similar positions at Dendreon Corporation and Corixa Corporation.

Sulliden Gold Corporation Ltd. (TSX: SUE, OTCQX: SDDDF) announced the appointment of Denis C. Arsenault as Chief Financial Officer of the Company. Mr. Arsenault's appointment follows the departure of Anna Ladd. Prior to joining Sulliden, Mr. Arsenault was the Chief Financial Officer of Central Sun Mining Inc. which was acquired by B2Gold Corp. in March 2009.

Russell Breweries Inc. (TSX-V: RB) announced the appointment of Gary Liu as Chief Financial Officer of the Company. Currently, Mr. Liu is serving on the Board of Directors of Sun Entertainment Holding Corporation and Luxor Industrial Corporation. Mr. Liu is also the owner of Mt. Pacific Financial Corp., a consulting company providing accounting services to public companies.

Intellipharmaceutics International Inc. (TSX: I, Nasdaq: IPCI) announced that it has appointed Shameze Rampertab as its new Chief Financial Officer. Mr. Rampertab previously served as the Director, Finance and Secretary-Treasurer for then-public Drug Royalty Corp and also served as health sciences and biotechnology analyst at several investment banking firms including Canaccord Capital, and was until recently a Partner, Healthcare Investment Banking at Loewen Ondaatje McCutcheon Limited (LOM), where he specialized in raising equity funds for life-science companies.

Imaging Dynamics Company Ltd. (TSX: IDL) announced that Swapan Kakumanu, currently the Executive Vice President and Chief Financial Officer of IDC, has been appointed as the new President and Chief Executive Officer of the Company, replacing Thomas Boon.

Delta Uranium Inc. (TSX-V: DUR) and Augustine Ventures Inc. announced the appointment of John Tokarsky as their new Chief Financial Officer. Mr. Tokarsky replaces L. Kirk Boyd as their CFO.

Terra Firma Resources Inc. (TSX-V: TFR) announced the appointment of Raz Hussein as a director and Chief Financial Officer to replace Charles Golding, who resigned as a director and CFO. Mr. Hussein is the founder of Razzle & Company, Management Group Inc., a private company which provides accounting, administrative and financial services to public companies engaged in mineral exploration and development.

Romarco Minerals Inc. (TSX-V: R) announced the appointment of Stan Rideout as Sr. Vice President, Chief Financial Officer of the Company. Mr. Rideout was most recently Executive Vice President and CFO of Swift Corp., one of the largest truckload carriers in North America. Prior to that Mr. Rideout held various positions (Treasurer, Vice President, Division Vice President, and Chief Financial Officer) over 25 years with Phelps Dodge Corporation and Phelps Dodge International, a publicly traded company that was acquired by Freeport McMoRan in 2007.

Cantronic Systems Inc. (TSX-V: CTS) announced the appointment of Kevin Tao Su to the position of Chief Financial Officer, replacing Susan Liu. Prior to joining Cantronic Systems Inc., Mr. Su was a senior accountant with Ernst & Young LLP Vancouver office for three and half years. Before joining Ernst & Young LLP, Mr. Su was a partner in McCormack, Su & Company Inc. CGAs in Canada for 4 years.

Hornby Bay Mineral Exploration Ltd. (TSX-V: HBE) announced the appointment of Rebecca Hudson as the new Chief Financial Officer of the Company. Ms. Hudson replaces Thomas D. Devlin.

Linamar Corp. (TSX: LNR) announced that its Chief Financial Officer, Edward Mahood, has resigned and the Chief Executive Linda Hasenfratz will serve as CFO till a replacement is identified.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Corporate Social Responsibility – Is it the CFOs Mandate?

2010-11-09T17:44:00.000-05:00

In business today, we are hearing a lot about Corporate Social Responsibility (CSR). CSR includes all aspects of being a good corporate citizen, which is a pretty wide mandate.

What is the CFOs role with CSR?

Corporate Social Responsibility is a vision from the top. This vision should be set by the board and the CEO, with input from important stakeholders, including employees and shareholders. CSR Vision may not be the CFOs role, but reporting about CSR issues seems to be falling on to the CFOs desk.

Examples of CSR issues falling on the CFOs desk include:

Securities Regulations – With the CFO being responsible for shareholder communication, Securities Regulators are continuing to add disclosure requirements. The most recent example in Canada is CSA Staff Notice 51-333 on Environmental Reporting (See Ernst & Young’s recent Financial Reporting Alert)

Financial Statement Impact – CSR issues, specifically environmental issues, have a Financial Statement impact and needs to ensure these risks are properly recorded and disclosed in the financial statements.

Good Governance – Being a good corporate citizen requires appropriate governance. As CFO, you have been dealing with Sarbanes Oxley reporting for the past years. CFO Certification is a product of CSR.

Is CSR the CFOs mandate?

No, but it does add to the work load. As a leader in your organization, it is important that you take a leading role in CSR issues. The challenge that many CFOs face in this area is that they do not really understand what the issues are.

Education is the key.

As CFO, being aware and intelligent on CSR issues will help your company and your career. I highly recommend that you add CSR to your continuing education portfolio. A great example of this is the CICA Conference on Environmental, Social and Governance Issues, being held in Toronto on December 6 – 7, 2010.

Add your voice to the CSR conversation.

As a leader in your company, do not shy away from CSR issues. Listen, attend meetings and share your input. CSR affects you. Contribute to the conversation.

Canadian CFOs on the Move – week ended November 5, 2010

2010-11-07T21:45:00.037-05:00

Boutique iStore has announced that Isabelle Beaulieu has joined Boutique iStore as VP Finance and Operations. Ms. Beaulieu replaces VP Finance Gareth Sargeant. Isabelle is a seasoned executive with more than 20 years of corporate experience in Finance, Operations and Information technology in various companies and industries in the Montreal area.

Lifebank Corp. (TSX-V: LBK) announced the appointment of Jeff Charpentier as Chief Financial Officer. Mr. Charpentier replaces Owen Granger, who has resigned as Director and Chief Financial Officer and Secretary Treasurer of Lifebank.

BSM Wireless Inc. (TSX-V: GPS) announced the appointment of Jenny Stranges, current Executive Vice President of Finance, as the company's Chief Financial Officer. Mrs. Stranges will take over the duties of outgoing CFO Jas Mann who resigned his position earlier this month and is leaving the company effective November 10, 2010.

Leader Energy Services Ltd. (TSX-V: LEA) today announced the appointment of Graham Reid as Chief Financial Officer. Mr. Reid will succeed Don Baird as Chief Financial Officer of the Company. Prior to this appointment, Mr. Reid was Vice President Finance and Chief Financial Officer of Norex Exploration Services Inc.

Stoneset Equity Development Corp. (CNSX: SQC) announced the resignation of Stephen Yuen as CFO and the appointment of Anna Lentz as the new CFO.

Malbex Resources Inc. (TSX-V: MBG) announced the resignation of its Chief Financial Officer, Derrick Weyrauch, effective January 31, 2011.

ANDINA Minerals Inc. (TSX-V: ADM) announced the appointment of Derrick Weyrauch as Chief Financial Officer of the Company. He is currently the Chief Financial Officer of Malbex Resources Inc., a publicly traded gold mining company, and will continue in that capacity until January 31, 2011 to assist Malbex in their transition. Previously, Mr. Weyrauch was the Treasurer and Director of Finance for Gabriel Resources Ltd., also a publicly traded gold mining company.

Lithium Americas Corp. (TSX: LAC) announced that Ian Fodie has been appointed Chief Financial Officer of the Company. Mr. Fodie replaces Raymond Mitchell. Mr. Fodie has had an extensive career, including most recently serving as President and CEO of Woulfe Mining (TSX-V: WOF), as the CFO for Resinco Capital Partners Inc. (TSX: RIN), and former CFO and VP of Operations at Mainframe Entertainment Inc.

Healthscreen Solutions Inc. ("Healthscreen") (TSX-V: MDU) announce the addition of Anastasia Chodarcewicz as Chief Financial Officer. Ms. Chodarcewicz brings domestic and international experience from her seven years with Sirit Inc., a Canadian public technology company.

Forest Gate Energy Inc. (TSX-V: FGE) announced that it has appointed L. Derek Lindsay as Chief Financial Officer of the company. Mr. Lindsay joins Forest Gate from Eloda Corporation, a publicly traded media software company, where he held the position of Vice President and Chief Financial Officer from 2008 onward. From 2006 to 2008, Mr. Lindsay was Vice President and Chief Financial Officer at CryoCath Technologies Inc.

Alto Ventures Ltd. (TSX-V: ATV) announced the appointment of Robert Anderson as the Company's new Chief Financial Officer to replace Leonard Schmidt who resigned as CFO.

Stealth Ventures Ltd. (TSX-V: SLV) announced that Roger Harman has been appointed as Stealth's new Chief Financial Officer. Prior to joining the Stealth team Mr. Harman was the Chief Financial Officer at PRD Energy Inc. and the Chief Financial Officer at Canadian Superior Energy Inc. (now Sonde Resources Corp.)

Melcor Developments Ltd. (TSX: MRD), announced that following the resignation of Melcor's CFO, Michael Shabada, Naomi Stefura has assumed the role of Acting Chief Financial Officer and Brett Halford has assumed the position of Acting VP Finance. Both Naomi and Brett will remain in these positions until the CFO position is permanently filled.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move – week ended October 29, 2010

2010-11-05T11:29:00.000-04:00

Huntington Exploration Inc. (TSX-V: HEI) announced that Andrew Burgess has also resigned as Vice President and Chief Financial Officer.

MagIndustries Corp. (TSX: MAA) announced that William C. Burton has been appointed Chief Financial Officer and Vice President, Finance.

Fresco Microchip announced the appointment of Patrick Leung as Chief Financial Officer (CFO). Mr. Leung brings 20 years of experience in financial management and investment banking in both private and public companies, including serving as the CFO for Tristan Capital and Rockwater Capital.

ISee3D Inc. (TSX-V: ICT) announced the appointment of Ed Myers as Chief Financial Officer of the Company. Mr. Myers succeeds Baljinder Bhullar, who has resigned as Chief Financial Officer.

Sangoma® Technologies Corporation (TSX-V: STC) announced the appointment of David S. Moore as CFO. Most recently he was CFO at Truition Inc. a developer and marketer of e-Commerce software and before that CFO of Fifty-Plus International Inc. a TSX-V company now trading as Zoomer Media Inc.

Marfil Mines Ltd. (TSX-V: MFM) announced the appointment of Matthew Fowler as Interim Chief Financial Officer. Mr. Fowler served as a partner, CFO and CCP at Strata Partners, LLC, a boutique investment bank based in Seattle, Washington where he was responsible for capital raising as well as all financial, operational and compliance requirements with the Financial Industry Regulatory Authority. Before joining Strata Partners, LLC, Mr. Fowler previously held the position of Analyst and Chief Financial Officer at Octavius Capital Management, LLC, a registered investment adviser based in Seattle, Washington serving high net worth individuals.

Global Development Resources, Inc. (TSX-V: GDV.H) announced that it has appointed Andrew Hilton to the Board of Directors of the Company and as Chief Financial Officer of the Company. Chris Carmichael has resigned from the Board of Directors and as Chief Financial Officer of the Company.

First Star Resources Inc. (TSX-V: FS) announced that Robert Gardner has been appointed CFO.

Archer Petroleum Corp. (TSX-V: ARK, OTCQX: APEUF, DBFrankfurt: A6VA) announced that Robert McMorran has been appointed as the Chief Financial Officer of the Company in place of Darren Tindale, who has resigned.

If you have news about CFOs on the move, or any comments on this feature, please email us.

CFOs: Don't leave home without...

2010-10-27T20:25:00.001-04:00

On first impression, the title of this blog can make you think of many things not to leave home without.

My version is: Don't leave home without your business cards. Actually, I recommend you always carry your work business cards and personal business cards.

Carrying your work business cards should be obvious. However, too many times when I meet CFOs in a non-interview context, they do not have a business card on them.

As I have recommended previously (read Network for Work), part of your career path development requires that you network constantly and consistently.

Why should you have personal business cards?

Having a professionally designed and well branded personal business card is an effective way to allow those who you would like to stay in touch with to do so. You never know when a golden opportunity could have your name on it, and the person who thinks about you can't find you because you no longer work at the company on the card.

A personal business card is especially useful during a career transition. It can certainly help you stand out from the competition during the interview process.

For those receivers of your card who are more old school, chances are they will file it properly in their business card organizer (which usually means a pile on their desk). They might not be on LinkedIn (yet), but they do keep track of their business cards. Give your personal business card out selectively to those who you would like to stay in contact with beyond your current role.

Making the investment in personal business cards and remembering not to leave home without them can pay huge dividends.

Canadian CFOs on the Move – week ended October 22, 2010

2010-10-24T21:45:00.002-04:00

Indico Resources Ltd. (TSX-V: IDI) appointed Peggy Wu as its Chief Financial Officer to replace Michael Kinley, who resigned as CFO in order to devote more time to other issuers of which he is also the Chief Financial Officer. Ms. Wu’s past experience includes three years at Smythe Ratcliffe LLP as a senior accountant and, prior to that, two years at STS Partners LLP as staff accountant.

Savant Explorations Ltd. (TSX-V: SVT) announced that David Douglas has been appointed as Chief Financial Officer, replacing Robert McKnight, interim CFO. Mr. McKnight will remain a Director of Savant. Mr. Douglas has served as Chief Financial Officer or Corporate Secretary to a number of junior mining companies including Blackstone Ventures Inc., Western Keltic Mines Inc., Stornoway Diamond Corporation, Sherwood Copper Corporation and Eastfield Resources Ltd. Mr. Douglas will continue to serve as Chief Financial Officer of Blackstone Ventures Inc.

Alberta Oilsands Inc. (TSX-V: AOS) announced the appointment of Andrew Constantinidis as Vice President Finance and Business Development of the Company. Most recently he was Vice President and Chief Financial Officer of Calgary based Eurogas Corporation (TSX-V: EUG). Mr. Constantinidis' international experience includes positions at companies including Deutsche Bank, Citibank, ExxonMobil and domestically at IBM.

Unigold Inc. (TSX-V: UGD) announced that John Green has been appointed Chief Financial Officer, replacing Joseph Del Campo who has resigned as CFO but will continue as a Director. Mr. Green has worked with Falconbridge Limited, Lac Minerals Limited, AfriOre Limited, Platexco Inc., and Intrepid Minerals Ltd. in a variety of roles including CFO and Director. For the last seven years, as Controller of High River Gold Mines Ltd., he has been closely involved with the financing and construction of two new open-pit gold mines.

Essar Steel Algoma Inc. announced that Amit Agarwal, Chief Financial Officer has been assigned new duties at Essar's Corporate Office in India and has consequently relocated to Mumbai, India. Rakesh Kapur, has been appointed Chief Financial Officer for Essar Steel Algoma, accountable for all financial functions. He comes to Essar from ArcelorMittal where he served most recently as Chief Financial Officer and Member of the Board of Directors at their steel complex in the Czech Republic.

DiaMedica Inc. (TSX-V: DMA) announced the appointment of James Parsons as Vice President of Finance, replacing Eric Johnstone. Mr. Parsons was previously the Chief Financial Officer for both private and public life science companies including Amorfix Life Sciences, Trillium Therapeutics and Lorus Therapeutics. He has also consulted for numerous firms including Astra Zeneca.

If you have news about CFOs on the move, or any comments on this feature, please email us.

CFOs: The Question you must ask your recruiter

2010-10-21T12:20:00.000-04:00

Q: "Is this a retained or contingent search?"

CFOs who are looking for their next career opportunity should be asking this question to any search firm that they will be working with. The reasons for this question are as follows.

A Retained Search shows a different level of value and seriousness from the Company. It shows a decision to approach the candidate market with one point of representation; allowing a better demonstration of both position and candidate assessment. The Company has already invested in your eventual hire. They are committed to a process that will make sure they hire the best person for their needs. Your time will not be wasted from the beginning.

A Contingent Search means that the recruiter will only make a fee if they hire you. The search firm you are speaking with may not be the only search firm looking to fill the role. Though the Company may be committed to hiring, there is an easier chance they could be just shopping or have not clearly assessed what ideal candidate they are looking for. Plus, in the rush of competition, there is no guarantee your recruiter has done their diligence on role assessment and best fit. You may end up wasting time from the first day.

Retained is for Leaders in Strategic Roles.

Contingent is for Functional Roles.

Do you consider your role to be strategic or functional?

Are you a Leader?

Canadian CFOs on the Move – week ended October 15, 2010

2010-10-17T21:55:00.008-04:00

Standard Exploration Ltd. (TSX-V: STD) announced the appointment of Neil Burrows as Vice President Finance and Chief Financial Officer.

Bowmore Exploration Ltd. (TSX-V: BOW) announced the appointment of Martin Nicoletti as Chief Financial Officer. Since 2004, he has been involved with public junior mining companies carrying exploration activities worldwide, with responsibilities in financial controls and reporting. Mr. Nicoletti replaces Richard Grass who acted as interim Chief Financial Officer during a transition period. Mr. Grass will remain as Chairman of the Audit Committee.

Athabasca Minerals Inc. (TSX-V: ABM) announced the appointment of Don Hruba as the Company's Chief Financial Officer (CFO). He most recently served as Vice President, Finance & Administration for a large Canadian publishing and distributing company.

Western Plains Petroleum Ltd. (TSX-V: WPP) announce that Steven Glover has been appointed by the Board of Directors as Vice-President, Finance, and Chief Financial Officer. Mr. Glover previously was Vice-President, Finance, with TSX Venture Exchange listed entities Valiant Energy Inc. (2005 - 2006) and Eagle Rock Exploration Ltd. (2006 - 2009). Mr. Glover currently serves as a Director and Chair of the Audit Committee for Travel Alberta, and also provides consulting financial advisory services to private corporations, partnerships and income trusts. Throughout his career, Mr. Glover has remained active in various professional accounting organizations, serving as a Director of the Canadian Public Accountability Board (2003 - 2005) and as an Executive Director of the Institute of Chartered Accountants of Alberta (1984 - 2005).

RTN Stealth Software Inc. (CNSX: RTN, OTCBB: RTNSF, FWB: 8RT) announced that John Doma has been appointed the Company's CFO, following the resignation of Larry Tsang.

Verafin, Inc. announced that Brian G. Whiteway has joined the company as chief financial officer. Prior to Verafin, Mr. Whiteway held positions as vice president, chief financial officer and chief operating officer at International Communications & Navigation (ICAN) Limited. Before ICAN, Mr. Whiteway was senior manager of mergers and acquisitions at Bell - Aliant Inc. He has also held management positions with the Business Development Bank of Canada and Scotiabank.

Blackdog Resources Ltd. (TSX-V: DOG) announced the appointment of James W. White as Chief Financial Officer of the Company. Mr. White replaces Linda Legere-Tetzlaff, who has tendered her resignation as Chief Financial Officer of the Company.

Deploy Technologies Inc. (OTC: DPLY), announced that the company has appointed Wisdom Ncube as Chief Financial Officer of the company.

Merc International Minerals Inc. (TSX-V: MRK) announced the appointment of Michael G. Leskovec to the position of Chief Financial Officer. Mr. Leskovec replaces Thomas Pladsen as Chief Financial Officer, who remains as a director. Mr. Leskovec is also the Chief Financial Officer of White Pine Resources Inc., as well as the Financial Control Officer of Northfield Capital Corporation. Most recently, Mr. Leskovec was Corporate Controller and an Officer of Andina Minerals Inc. From May 2007 through September 2008, Mr. Leskovec served as Controller and an Officer of Gold Eagle Mines Ltd which was sold to Goldcorp Inc. in September 2008 for $1.5 billion.

Ridgeline Energy Services Inc. (TSX-V: RLE) announced the appointment of Jim Maldaner as Chief Financial Officer, replacing John Longley. Mr. Maldaner is a Chartered Accountant and a Partner located in the Calgary office of DNTW LLP, Chartered Accountants.

Canadian Solar Inc. (NASDAQ: CSIQ) announced the appointment of Andrew Chen as Chief Financial Officer, replacing Arthur Chien, who will continue as a special advisor to the CEO's office until the end of the year. Before joining Canadian Solar, Mr. Chen served as Chief Financial Officer of different NASDAQ listed companies.

If you have news about CFOs on the move, or any comments on this feature, please email us.

CFO / Lawyer Relationships

2010-10-15T10:47:00.000-04:00

In my travels, I speak with many individuals. One of the categories of people I speak with are lawyers.

Lawyers, like CFOs, have a tendancy to be grouped together by those that don't know them. Luckily, I know many different types of lawyers, and I am fortunate to know them.

Many of the Lawyers I have spoken with have mentioned to me that the CFO is one of the key people they deal with in organizations. And that got me thinking.

What is it that is so special about the CFO / Lawyer relationship? I have some opinions, but I want to back it up with fact.

If you are a CFO, I would love to hear your point of view. CFO2Grow has created a short survey to better understand your relationship with Lawyers. Please visit http://conta.cc/bBM0kn to give us your feedback.

I'm looking forward to sharing our insights soon.

Samuel

Canadian CFOs on the Move – week ended October 8, 2010

2010-10-12T11:10:00.000-04:00

Prophecy Resource Corp. (TSX-V: PCY, OTCQX: PRPCF, FRANKFURT: 1P2) appointed Derek Liu to the position of Chief Financial Officer (CFO). Mr. Liu will be replacing Mark Lotz who will be leaving Prophecy to pursue other opportunities. Mr. Lotz will remain during the transition process. Most recently, Mr. Liu was the controller of Silvercorp Metals Inc., a position he held since 2006.

Intermap Technologies Corp. (TSX: IMP) announced the appointment of Nigel Jackson, to the position of Interim Chief Financial Officer. Mr. Jackson replaces outgoing vice president and CFO, Brian Musfeldt. Mr. Jackson previously served as Intermap’s vice president finance and secretary from 1996 to 2003. Since March of 2007 Nigel has served as and remains the President Director of PT Exsamap Asia, Intermap's essential data editing Indonesian subsidiary.

PRD Energy Inc. (TSX-V: PRD) announced that Roger Harman, Chief Financial Officer of the Company, is no longer with the Company.

Paget Minerals Corp. (TSX-V: PGS) announced the appointment of April Hashimoto as Chief Financial Officer. Ms. Hashimoto has a long, successful career in the mining industry and has held various senior positions, most recently as CFO for Pacific Rim Mining Corp.

SAND Technology Inc. (OTCBB: SNDTF.OB) announced that Tony J. Guiliano will join the company as Chief Financial Officer. Mr. Guiliano was previously CFO for Avensys Corporation.

Maudore Minerals Ltd. (TSX-V: MAO, OTCBB: MAOMF, FWB: M6L) announced the appointment of Ron Amstutz to the position of Chief Financial Officer. Mr. Amstutz is a director and/or secretary-treasurer with a number of companies. Within the mining sector, he has been the Chief Financial Officer of Niocan Inc. since 2006 and has been auditor for the Baskatong Quartz Mine in Quebec for 20 years. Ron Amstutz is a Director and the Treasurer of the Swiss-Canadian Chamber of Commerce and speaks fluent French, English, and Swiss-German.

Northern Rand Resource Corp. (TSX-V: NRR) announced that John Jardine has been appointed to succeed James Grinnell as Chief Financial Officer.

Aberdeen International Inc. (TSX: AAB) announce Ryan Ptolemy has been appointed CFO of the Company. Mr. Ptolemy currently serves as CFO to a number of public companies in the mining sector. Mr. Ptolemy currently serves as CFO to a number of public companies in the mining sector. Stephen Theron is stepping aside as CFO to focus on his new role as Chief Executive Officer of Forbes & Manhattan Coal (TSX:FMC), which recently completed a successful listing on the TSX.

Diamcor Mining Inc. (TSX-V: DMI) announced the appointment of Darren Vucurevich as the Company's new Chief Financial Officer. Mr. Vucurevich has been a director of the Company since July of 2005.

Georgetown Capital Corp. (TSX-V: GET.P) announced that upon completion of an upcoming transaction, Mark Newman will be resigning from his role as Chief Financial Officer.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Are you ready to give up your CA for a CPA?

2010-10-04T22:14:00.001-04:00

If you are a Canadian CA, there is a good chance you worked hard for it, and are quite proud of the designation. I know I worked hard for it, and I am proud CA.

Buried in my emails recently I found a letter from Bill MacKinnon, FCA, Chair of the CICA Board of Directors discussing two points of concern for the future of our profession that came up out of a recent meeting of leaders’ of our profession.

The first point of concern for our leaders, which addresses “Pathways into the CA Profession in Canada” is continuing down the slippery slope that was created when the CICA started accepting training for new professionals outside of an audit firm environment. While I do have concerns in this area, this is currently overshadowed the 2nd point of concern – A Canadian CPA. (Click here to view the new logo).

Yes. That’s right. The leaders of our profession are considering a Canadian CPA designation.

As a CA, I have been proud of the efforts in past years to brand the CA designation as the premier accounting designation in Canada (and the world). Now it seems that globalization of the accounting profession (which most recently has Canadian GAAP being replaced by International GAAP – IFRS) has made our leaders hedge our bets on our historic name and brand, just in case we need to “start consolidating into one or two global professions”.

What the future holds for Canadian CAs and the constituents we serve is currently unclear. It is not clear as to whether we can currently call ourselves CA, CPA or both together.

A few years back when the profession in its wisdom wanted to merge with the other accounting professions in Canada, our members were very clear that it was not what the grass roots members wanted.

My initial reaction to this development is: “I’m not interested, but I am willing to listen - you’ll have to convince me.” I believe that many CAs will have the same reaction. I hope that the leaders of our profession ensure that they properly consult with the CA members across the country, and not just make an administrative decision that deeply affects our attachment to our profession and to our brand.

What is your reaction?

Canadian CFOs on the Move – week ended October 1, 2010

2010-10-03T22:00:00.003-04:00

Le Centre Financier CGE Inc., a Fund Manager, announced the appointment of Isabelle Gauthier as Vice President and Chief Financial Officer of the Company.

Tenth Power Technologies Corp. (TSX-V: TPI) announced the appointment of John Ng as Chief Financial Officer. Mr. Ng joins Tenth Power from Schneider Power where he served as CFO during a successful IPO in 2008 and subsequent sale to a U. S. renewable energy company in early 2010. Prior to that, he was CFO at Telehop Communications Inc.

Seprotech Systems Incorporated (TSX-V: SET) announced that Ian Malone has been appointed as the Company's new Chief Financial Officer (CFO), taking over the functions of Matthew Anderson who was appointed Interim CFO on the 1st of July 2009. Mr. Malone has served as Chief Financial Officer at publicly-traded biomedical companies including Millenium Biologix and World Heart Corporation. In addition, Mr. Malone previously held executive positions with a Swiss-based global financial institution, and at Jennerex, Inc a privately owned cancer biotherapeutics company.

Yalian Steel Corporation (TSX-V: YL) announced that Ms. Lan Shangguan has been appointed as the Company's chief financial officer (CFO) and corporate secretary, replacing Murray Flanigan, who has served as CFO and corporate secretary since January, 2010. Ms. Shangguan has also served as a controller and as a CFO for a number of Canadian public companies including a company that was a United States SEC registrant.

SolutionInc Technologies Limited (TSX-V: STL) announced the appointment of Andy MacDougall as Chief Financial Officer. Prior to joining SolutionInc, Mr. MacDougall was a CFO consultant, Partner with Grant Thornton LLP, and Vice-President with PriceWaterhouseCoopers.

The Futura Loyalty Group Inc. (TSX-V: FUT) announced that David Campbell has been appointed to the position of Chief Financial Officer ("CFO"). Mr. Campbell joined Futura in January 2007 when he became a board member and chair of the audit committee. He will remain as a board member, but will relinquish his position on the audit committee. Mr. Campbell will assume the role from Darryl Kleebaum who has been the CFO of the Company since October, 2007. Mr. Campbell has been CFO of three early stage technology companies over the last 12 years, each of which he helped take public. Most recently he was a managing partner of Belweather Capital Partners Inc., a Toronto based early stage investment fund and advisory services firm. Mr. Campbell joined Futura in January 2007 when he became a board member and chair of the audit committee. He will remain as a board member, but will relinquish his position on the audit committee.

Alexander Nubia International Inc. (TSX-V: AAN) announced the appointment of Donald McGillivray Cameron as the Chief Financial Officer of the Corporation.

Stem Cell Therapeutics Corp. (TSX-V: SSS) announced the appointment of Michael Cook as Chief Financial Officer.

Medallion Resources Ltd. (TSX-V: MDL) announced that it has appointed Thomas Arnould as Chief Financial Officer and Corporate Secretary of the Company. Most recently, Thomas has worked as a CFO of a private strategic-marketing firm, as a principal with Adler Business Solutions Inc and as the CFO of Securefact Inc. In addition, Mr. Arnould consults with other companies on finance and accounting matters.

GoldQuest Mining Corp. (TSX-V: GQC, FRANKFURT: M1W) announced the appointment of Paul Robertson as its new Chief Financial Officer. Mr. Robertson is with Quantum Advisory Partners, LLP, an accounting firm that specializes in CFO services. Mr. Robertson has been appointed to succeed Ford Cannon.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move – week ended September 24, 2010

2010-09-26T22:40:00.001-04:00

Acceleware Corp. (TSX-V: AXE) announced that Geoff Clark has been promoted to the position of Chief Executive Officer of Acceleware. Previously, Mr. Clark was Chief Financial Officer of the Company. Mr. Clark will continue to act as Chief Financial Officer until such time as a new CFO can be appointed.

Benchmark Energy Corp. (TSX-V: BEE) announced that Peter Argiris will assume the role of Chief Financial Officer of Benchmark. Mr. Argiris was formerly in energy research with Orion Securities, Macquarie Securities and Canaccord Capital.

Sonde Resources Corp. (TSX: SOQ) (NYSE Amex: SOQ) announced that Robb Thompson, Chief Financial Officer, has decided to leave the Company to pursue other interests.

Virgin Metals Inc. (TSX-V: VGM) announced the appointment of Janet O'Donnell as Chief Financial Officer. In addition to her duties at Virgin, Mrs. O'Donnell is also the Chief Financial Officer with a gold exploration and development company focused on a late stage exploration project in Ontario, Canada. Prior to this she was CFO of a gold producer whose operations were focused in Mexico. In addition, Mrs. O'Donnell was the CFO of a Canadian manufacturing company that sold products exclusively to the mining industry. Mrs. O'Donnell was an integral part of the team that took the company public as an income trust in 2005 and then sold it to a private equity group in 2007.

Mindoro Resources Ltd. (TSX-V: MIO) (FRANKFURT: WKN 906167) announced the appointment of Rob King to the role of Vice President Commercial and Chief Financial Officer. Mr.King has been with Mindoro in a consulting capacity since June 2010. Rob was CFO for Placer's African operations at the time Barrick Gold Corp acquired Placer Dome and continued with Barrick in this capacity for 2 years prior to returning to Australia. To facilitate Rob's appointment, Herrick Lau has resigned as CFO.

Vanstar Resources Ltd. (TSX-V: VSR) announced the appointment of Denis Tremblay as new CFO and Corporate Secretary of the Company. This appointment follows the resignation of Francois Marcotte, as CFO of the Company.

Vantex Resources Ltd. (TSX-V: VAX) announced the appointment of Denis Tremblay as new CFO of the Company. This appointment follows the resignation of Francois Marcotte, as CFO of the Company.

Jomar Capital Corp. (TSX-V: JOE.P) announced that upon completion of a business combination, Mr. Thomas Love will be appointed Chief Financial Officer. Mr. Love served as an independent director of Kensington Energy Ltd. from February 2004 to February 2005, Castle Rock Petroleum Ltd. from October 2004 to September 2007, and Canext Energy Ltd. from June 2007 to April 2010. Mr. Love has been an independent businessman since June 2007.

Genco Resources Ltd. (TSX: GGC) announced that upon completion of a business combination with Silvermex Resources Ltd. (TSX-V: SMR), Hallein Darby will be the CFO and Corporate Secretary. Ms. Darby has been Silvermex's Senior VP Finance since November 2008 initially as Senior VP Finance and is currently CFO. She was previously the Senior VP Finance for Timmins Gold Corp. Ms. Darby served as a Senior Securities Analyst with the British Columbia Securities Commission from 1996 to 2006.

Enablence Technologies Inc. (TSX-V: ENA) has appointed David Toews as the Company's new CFO. Toews is replacing Ron Benn who will be leaving Enablence at the end of October to pursue other opportunities. David was most recently VP Finance for the Broadcast Division of Harris Corporation. His previous experience also includes serving as VP Finance and CFO of Leitch prior to its acquisition by Harris, as CFO of Internet Sports Network Inc., and as VP Finance of EDM Electronic Direct Marketing Ltd./Teletech Canada.

H2O Innovation Inc. (TSX-V: HEO) announced that Annie Lemieux, Chief Financial Officer, has made known her decision to leave the Company.

Quetzal Energy Ltd. (TSX-V: QEI) announced the appointment of Cameron Dow as Chief Financial Officer (CFO). Mr. Dow was most recently the Chief Financial Officer (CFO) and Financial Controller of Sea Dragon Resources Ltd. Mr. Dow was previously Interim CFO of Calvalley Petroleum Inc. and a Partner of Daunheimer & Dow LLP Chartered Accountants, in Calgary. Cameron Dow replaces Wally Rudensky who is leaving to pursue other business opportunities.

Xmet Inc. (TSX-V: XME) announced the appointment of Kirk Boyd as Xmet's new Chief Financial Officer, Corporate Secretary and Treasurer replacing Donna McLean who has resigned from such positions. Mr. Boyd has served as a director and Chief Financial Officer of various reporting issuers listed on the TSX Venture Exchange (the "Exchange"). Mr. Boyd is also the principal of Kirk Boyd & Associates, a consulting company providing executive services and specializing in strategic planning, corporate restructuring and financial management.

If you have news about CFOs on the move, or any comments on this feature, please email us.

Canadian CFOs on the Move – week ended September 17, 2010

2010-09-20T07:00:00.004-04:00

Ram Power, Corp. (TSX: RPG) announced the appointment of John O'Neill as Vice President and Chief Financial Officer. Mr. O'Neill will take over as Chief Financial Officer from Paul Zavesov, who will be transitioning to a senior role in Business Development. Mr. O'Neill previously worked with EGB Consulting, Homeland Renewable Energy, Environmental Power Corporation, Constellation NewEnergy, and KPMG.

Maple Leaf Reforestation Inc. (TSX-V: MPE) announced that Daniel Chu has resigned as Chief Financial Officer ("CFO") and Director. Mr. Chu’s vacancy as Maple Leaf’s CFO and Director will be filled by Mr. Derek Liu.

Green Swan Capital Corp. (TSX-V: GSW.P) announced the appointment of Daniel Hilton as Director and CFO. Daniel is currently Executive Director of the Conservative Party of Canada. He was previously the Director of Finance and Administration, Research and Development for World Heart Corporation and a co-founder and CFO of Kids Futures Ltd. Daniel was formerly the Vice-President Finance and Technology and Senior Vice-President, Corporate Development & Administration of Enablence Technologies Inc.

Equal Energy Ltd. (TSX: EQU, NYSE: EQU) announced that Dell Chapman has been appointed Chief Financial Officer. Mr. Chapman was most recently the Vice President, Finance and Chief Financial Officer of Berens Energy Ltd. Prior to that, he held various senior finance positions with a number of oil and gas companies, including Suncor Energy Inc. and Gulf Canada Resources Limited.

Canada Lithium Corp. (TSX: CLQ; U.S. OTCQX: CLQMF) announced that Germaine Coombs, formerly Corporate Controller with FNX Mining Company, has joined as Chief Financial Officer. Prior to FNX Mining, Ms. Coombs worked with Iron Ore Company of Canada.

White Pine Resources Inc. (TSX-V: WPR) announced the appointment of Michael G. Leskovec to the position of Chief Financial Officer, replacing Mario Miranda. Mr. Leskovec is the Financial Control Officer of Northfield Capital Corporation, a publicly traded, TSX-V listed investment holding company with investment interests primarily in the resource sector. Previously, Mr. Leskovec was Corporate Controller and an Officer of Andina Minerals Inc., Controller and an Officer of Gold Eagle Mines Ltd., and Audit and Assurance Manager at Smith Nixon LLP.

SAND Technology Inc. (OTCBB: SNDTF.OB) announced that Bruno Martel, previously announced as incoming Chief Financial Officer, will no longer be joining the company.

Palko Environmental Ltd. (TSX: PLK) announced the appointment of Corey Zahn as VP Finance and Chief Financial Officer, replacing the interim CFO, Susan McClinton. Mr. Zahn's latest position was VP Finance and CFO with Century Oilfield Services Ltd., which was recently acquired by Calfrac Well Services Ltd. Prior to this, Mr. Zahn worked with KPMG LLP as a Senior Manager.

Feronia Inc. (TSX-V: FRN) announced the appointment of Georgina Cotton as Chief Financial Officer.

WebTech Wireless Inc. (TSX: WEW) announced that Andrew Morden, has been appointed as Chief Financial Officer. Mr. Morden previously worked with Intrinsyc Software and Digital Dispatch Systems, Internet Marketing Center, Intrawest Corporation, SAP Canada and KPMG.

Bitterroot Resources Ltd. (TSX-V: BTT) announced the appointment of Barney Magnusson as its Chief Financial Officer. Mr. Magnusson is currently a director of SilverCrest Mines Inc. and Goldsource Mines Inc.

Romarco Minerals Inc. (TSX-V: R) announced that Fraser Sinclair has resigned as Senior Vice President and CFO of Romarco Minerals effective October 8, 2010. Joe Romagnolo, the Company's Corporate Controller, has been appointed Interim CFO.

Antioquia Gold Inc. (TSX-V: AGD) announced the appointment of JoAnne Dorval-Dronyk as its Chief Financial Officer (CFO). Ms Dorval-Dronyk replaces Robert C. James who left the Company.

If you have news about CFOs on the move, or any comments on this feature, please email us.