5 difficult steps to becoming a Great CFO

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 February 18, 2011

 
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

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

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?

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?

 

Don’t leave your job without it.

There are many things we leave behind when going to our next career opportunity – our colleagues and team, our comfortable chair, and if we’ve been lucky enough to have it to begin with, perhaps even the company car.

I was fortunate enough to interview a CFO candidate recently that told me a great story about how he got his next CFO role. In leaving a previous CFO role, he cancelled his cell phone contract, and took a well deserved vacation for a few weeks. When he was ready to get back to his job search, he went to get a new cell phone. Luckily for him, the cell phone provider gave him options to choose his new number, and one of the choices was his old phone number, which he took without giving it much thought.

A week later his phone rang, and it was someone he once networked with a year ago that called him with a potential career opportunity that led to his next successful role.

Thankfully for this CFO, he was able to get his old cell phone number back.

What lessons can you learn from this story?

1. When starting a new role, have your company pay for your cell phone plan, but you should own and keep the number.

2. Make sure that when you leave your employer, if you don’t own the phone number, make sure you negotiate to take it with you.

3. Put your cell phone number on your business card. You never know who may want to reach you when you are no longer at the company.

Is there anything else you should not leave your job without?

You’re on LinkedIn. Now what?

You’ve heard your colleagues talk about LinkedIn. You’ve heard that it is indispensable to your professional career to be on LinkedIn. So you gave it a shot, signed up, put your profile up and connected with some people you know.

Now you’re sitting back and asking yourself - “Is that all there is to this? I don’t understand. There must be more.”

There is more.

However, the most important question you need to ask yourself is: What do I want to accomplish on LinkedIn? If you only want to be on LinkedIn just to be able to say that you are on LinkedIn - Stop Here - you’ve done all you need to do. However, if you want to build your personal brand, there are other things you can do to make the most out of your LinkedIn experience.

Seek out those you know.

Who you work with: LinkedIn works well in keeping in front of the people you know and want to stay connected to professionally. In your career, you deal with people inside and outside your organization - these people are ideal to request that they Link In with you.

Who you used to work with: There are people that you used to work with that remember you in a positive light, and would happy to reconnect.

How to find them: You can:

• 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 ended October 8, 2010

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.

Canadian CFOs on the Move – week ended September 10, 2010

Provident Energy Trust (TSX: PVE.UN, NYSE: PVX) announced that Brent Heagy has been appointed Senior Vice President, Finance and Chief Financial Officer ("CFO") effective October 1, 2010. Brent will succeed Mark Walker who, as previously announced, will be stepping down from the role effective September 30, 2010. Mr. Heagy was most recently Chief Financial Officer of a Calgary based mid-sized Energy Trust. Prior to that, he was Chief Risk Officer for EnCana Corporation in Calgary, Chief Financial Officer for PanCanadian Energy Corporation's US operations based in Houston, Texas and began his career with Coopers & Lybrand in Calgary.

Catch the Wind Ltd. (TSX-V: CTW) announced that Robin Roge has been appointed as interim Chief Financial Officer of the Company, succeeding David Samuels. Since 2009, Robin has served as Director of Accounting of the Company and has performed its Controller function.

NexGen Financial LP announced that Abe Goenka has been appointed as Senior Vice President and Chief Financial Officer adding to his current responsibilities as Chief Operating Officer. Moira Saganski, a founding shareholder of NexGen, has relinquished her CFO responsibilities and will continue to work with the firm in fund administration.

Corvus Gold Inc. (TSX: KOR) announced the appointment of Michael Kinley as Chief Financial Officer of the company. Michael started his career with KPMG, where he became a partner in 1981. Since 1993, Mike has been the president of Winslow Associates Management & Communications Inc., a private consulting firm which provides accounting and regulatory support services to junior public companies.

Silver Dragon Resources Inc. (OTCBB: SDRG.OB) announced the appointment of Jeffrey D. Sherman as Chief Financial Officer and Corporate Secretary. He is a director of several companies, as well as chief financial officer of a TSX-listed company.

Pioneering Technology Corp. (TSX-V: PTE) announced that Peter Knee has been appointed as Chief Operating Officer and Chief Financial Officer of the Company. He most recently served as CFO for Citicapital, a large equipment finance company wholly owned by Citigroup until its recent sale to GE Capital

Intermap Technologies Corporation (TSX: IMP) announced the resignation of Brian Musfeldt from the positions of Chief Financial Officer and Vice-President.

Avante Security Corp. (TSX-V: ASY) announced that Raghu Sampath was appointed Chief Financial Officer of the Corporation. Prior to joining Avante, Mr. Sampath spent seven years at Sapphire Technologies Canada (formerly CNC Global limited), Canada's largest IT Staffing Company where he was responsible for all finance and accounting functions of the company.

Vivonet Inc. announced the appointment of Jim MacCallum as Chief Financial Officer. Jim will be replacing Kevin Falk, who assumed the role of interim Chief Finance Officer in October 2008. Kevin has transitioned into the role of Chief Product Officer at Vivonet. Prior to joining Vivonet, Jim was Vice President of Finance for Absolute Software (TSE:ABT). He has also held similar positions at Cisco Systems Inc. (NASDAQ:CSCO) as Controller, Global Customer Financial Services and at PMC-Sierra Inc. (NASDAQ:PMCS) as Controller of Operations.

Cequence Energy Ltd. (TSX: CQE) announced the appointment of David Gillis as Vice President, Finance and Chief Financial Officer.

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 August 13, 2010

Equal Energy Ltd. (TSX: EQU) announced that Blaine Boerchers, Senior Vice President, Finance and Chief Financial Officer, has tendered his resignation. Mr. Boerchers has also commenced an action against the Company in relation to a dispute as to the level of his security-based compensation.

International Datacasting Corporation, (TSX: IDC) announced the promotion of Cory Garbolinsky to Vice President, Finance and Acting Chief Financial Officer and Corporate Secretary. Mr. Garbolinsky was previously Director of Finance at IDC responsible for external financial reporting and internal controls. Previously he served as Manager of General Accounting for North America at Alcatel-Lucent (ENXTPA: ALU) and as Chief Financial Officer at CCS Group Ltd.

ICN Resources Ltd. (TSX-V: ICN) announced the appointments of Denise Lok as Chief Financial Officer and Corporate Secretary. The appointment follows the resignation of Tom Wilson as Chief Financial Officer and Gordon Fretwell as Corporate Secretary. Lok is currently Manager, Corporate Finance of Baron Global Financial Canada Ltd. Previously, she was a professional accountant with an international accounting firm.

ACE Canada, the Canadian-based operating division of the ACE Group, announced the appointment of Bruce Walker as Chief Financial Officer. Mr. Walker's joins ACE from a directorship with a privately-held financial consultancy firm in the United States. Prior to this role, Mr. Walker held a variety of senior financial leadership positions within Royal & Sun Alliance Insurance Group.

TouchTunes Interactive Networks has announced the appointment of Patrick Barry as Senior Vice President and Chief Financial Officer of the company. Prior to joining TouchTunes, Barry was CFO of Oberon Media.com, a casual games solutions company, and DSR Holdings, a restaurant holdings company. Barry was one of the founding members at Bluefly.com (NASDAQ BFLY), where he spent 10 years growing the business to $95 million in revenues. Barry also served as CFO and COO of Audible Inc. and CFO of Warner Music Enterprises. His extensive background in finance included work at Book-of-the-Month Club, Time Warner and Arthur Andersen LLP.

Petromanas Energy Inc. (TSX-V: PMI) announced that Bill G. Cummins has been appointed as CFO effective September 1, 2010. Ari Muljana will resign as CFO effective August 31, 2010. Mr. Cummins international background has spanned 12 years, including nearly three years as CFO of a TSX listed oil and gas company with operations in Yemen, and seven years as a senior financial executive of an international joint venture which grew to over 75,000 bopd.

Pioneer Power Solutions, Inc. (OTCBB: PPSI) announced the appointment of Andrew Minkow as its Chief Financial Officer, Secretary and Treasurer effective immediately. Mr. Minkow was also appointed to our Board of Directors. Mr. Minkow was previously the President of MAST Consulting, a provider of executive management, strategic planning and financial reporting services to several corporate clients, including to Pioneer. From 2001 to 2009, Mr. Minkow was a founding employee and shareholder of Morgan Joseph & Co. Inc., where he successfully executed over $2 billion in investment banking transactions and provided leadership in business development and operational management, aiding the firm in its rapid growth during his eight year tenure.

Partner Jet Corp. (TSX-V: PJT) announced that Mike Casey has been appointed Chief Financial Officer of the Company, replacing Bruce Reilly.

Petrobank Energy and Resources Ltd. (TSX: PBG) announced that Peter Cheung was appointed as CFO, replacing Corey Ruttan. Mr. Cheung Cheung was most recently the treasurer at Compton Petroleum Corp (TSX: CMT).

TrinCan Capital Corp. (TSX-V: TRN.P) announced that Burkhard Franz has assumed the role of President and Chief Executive Officer of the Company. Mr. Franz was previous the Chief Financial Officer of the Company. Ms. Savi Franz has been appointed as Interim Chief Financial Officer.

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 July 30, 2010

Silvermet Inc. (TSX-V: SYI) announced that Jeffrey Dawley has resigned as CFO of the Company, and is being replaced by Ian Atacan. Mr. Atacan has previously held controllership roles in various public companies, including Epsilon Energy, Impax Energy Services and Consumers' Waterheater Income Fund.

Lingo Media Corporation (TSX-V: LM)(OTCBB: LMDCF) announced that Ryan Robertson has been appointed Chief Financial Officer. He succeeds Khurram Qureshi, who is stepping down after being CFO for the last 10 years. Mr. Robertson joins Lingo Media from Luxell Technologies Inc., where he was CFO for the last three years.

Canadian Orebodies Inc. (TSX-V: CO) announced that Joseph Heng has been appointed to the position of Chief Financial Officer and Corporate Secretary for the Company. Mr. Heng replaces Mr. Gledhill, previously in the same role. For the past 10 years, Mr. Heng has been involved primarily with junior mining public companies and holds directorship, corporate secretary and CFO positions in several of the companies he is associated with.

Look Communications Inc. (TSX-V: LOK and LOK.A) announced that Mr. Jason Redman has resigned as Chief Financial Officer, and has been replaced by Grant McCutcheon, new Board Member and Acting Chief Financial Officer.

DiagnoCure, Inc. (TSX: CUR) announced the hiring of Chantal Miklosi as the new Chief Financial Officer. Mrs. Miklosi brings over 15 years experience in investment banking and finance.

UTS Energy Corporation (TSX: UTS) announced that its Board of Directors has approved the management team that will lead SilverBirch Energy Corporation ("SilverBirch"), including Wayne Bobye as Vice President and Chief Financial Officer. Mr. Bobye has been Vice President and Chief Financial Officer of UTS since 2005.

Adira Energy Ltd. (OTCBB: ADENF; FRANKFURT: AORLB8) announced that Gadi Levin has been appointed Chief Financial Officer of the Company's four Israeli operating subsidiaries.

Mullen Group Ltd. (TSX: MTL) announced the appointment of Mr. P. Stephen Clark to the position of Chief Financial Officer. Mr. Clark succeeds Mr. David E. Olson who is retiring from Mullen after 26 years of dedicated service.

GeoGlobal Resources Inc. (NYSE Amex: GGR) announced that Mr. Sunil Karkera, who was until recently the Corporate Controller, has been promoted to serve as the new CFO.

Saint John Port Authority announced that James Quinn will be replacing Al Soppitt as President and CEO. Mr. Quinn previously was CFO for the Canadian International Development Agency and Indian and Northern Affairs Canada.

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

Twitter Me This – Recruiting in 140 characters?

“Feel... Felt… Found…” Three words one of my business partners, Jonathan Buzelan (Twitter: @buzelan) stressed to me as he helped develop my sales skills. “You need to see their side, before you can bring them to yours,” he would say. “Let your client know you understand how they feel. If you ever felt that way, tell them; and finally, share with them what you learnt that got you to think differently.” The philosophy was simple, as he explained it, “changing someone’s mindset can be a near impossibility, but if you provide them with new information, then they may be willing to form a new opinion.” Why try to convince someone of your truth when it easier to get them to discover it on their own. And what in the world does this have to do with Twitter?

When I first started exploring social media groups I was not convinced that it had any use beyond the obvious: sharing photos of my children at the lake with friends and family. I was convinced that this was the limit of its power. The idea that social media sites could help develop business relationships or any “real” relationship for that matter did not seem possible. I knew Linkedin existed but I thought of it as nothing more than an online rolodex that at the time was still in its infancy.

As the popularity of social media sites grew, I made it my business to learn more about them. I was already sharing much of my personal life on Facebook and details about my professional life on Linkedin. But what was completely unclear to me was the value and worth of the social media site or better yet “social media tool” called “Twitter”. What value could a billboard like tool which limits you to a 140 characters deliver?

At first glance, Twitter seems like the least significant of all the three Social media tools. But what I learned was that Twitter is a lot more powerful than people realize. As the Practice Leader for CFO2Grow’s CFO Search practice one of my goals is to be top of mind for CFOs, CEOs, Board Members, Investors and other business leaders in my online and offline community. Having been in the Financial Recruiting business for over 10 years and in the finance world for 20, I have developed many incredible contacts from which I have learned much. Being top of mind comes from sharing that knowledge base and experience and then delivering that relevant content to my network.

Twitter is much more than an electronic billboard; it is the way I reach out to the online world. In 140 characters, the snippet of content I send out becomes a form of free advertising about a blog (like this one), an article I read, a new job posting, a Facebook or LinkedIn update, or even just a retweet that I can easily share with my network . And the more interesting and relevant my tweets, the more people are likely to click through and read on. Providing relevant and informative content is part and parcel of being top of mind, and staying there.

A 2010 Jobvite Social Recruiting Survey stated that while 78% of companies and recruiters use LinkedIn for recruiting and 54% use Facebook, Twitter sits at a respectable 3rd place with 44%. While there is no question that LinkedIn will continue to be the lead choice for recruiters and their companies, as Twitter grows in popularity it has the potential to surpass Facebook in its relevance to the online recruiting community. The Jobvite study further stated that while Facebook use for recruiting grew 15%, Twitter’s popularity has gone up by 32%. Harnessing Twitter’s potential is the next big thing for the recruiting community.

So if you are still scratching your head at the thought of being Twitter user, then let me say this, “I understand how you feel, because that is how I felt, but let me tell you what I found out.”

Follow us on Twitter @cfo2grow. (To follow Samuel go to Twitter @cfo2dergel)

(“Twitter Me This - Recruiting in 140 characters?” is part of an ongoing discussion on Social Media and recruiting. Here are 2 more related Blogs you may be interested in reading: “What Your LinkedIn Profile Says About You”, and “Is Facebook a Career Killer?”)

Canadian CFOs on the Move – week ended July 23, 2010

Andean Resources (TSX: AND, ASX: AND) announced the appointment of Mr. Eric Edwards as its new Chief Financial Officer. Most recently, he held the position of Chief Financial Officer at International Minerals Corporation. Over the past 15 years, Mr. Edwards has been Chief Financial Officer for a number of publicly traded gold companies including Queenstake Resources, Viceroy Resource Corporation and Ivanhoe Mines.

Adeptron Technologies Corporation (TSX: ATQ) announced the appointment of Mr. Jon Szczur as Chief Financial Officer of the Company. Mr. Szczur has been Vice President of Finance at Adeptron since April 2010. From 2006 through 2009, Mr. Szczur served as Chief Financial Officer of the Wish Group of Companies.

MedMira Inc. (TSX-V: MIR, NASDAQ: MMIRF) announced the appointment of Daniel Frid as Chief Financial Officer. Most recently, he was a member of the Senior Management Team for Keane Canada Inc., serving as the Director of Finance and Information Technology.

Homeland Energy Group Ltd. (TSX: HEG) announced the Company has appointed Ajay Gupta as Chief Financial Officer effective July 13, 2010. Jeff Lowe, who has been Acting Chief Financial Officer of Homeland during the search process, will continue to provide the Company and Mr. Gupta with his expertise and support until September 30, 2010. Most recently Mr. Gupta was CFO of African Aura Resources Ltd. and Scandinavian Minerals Limited which recently merged with First Quantum Minerals Ltd. He has also worked with Deloitte & Touche LLP, DuPont Canada, Samara Group and S R Khurana & Co.

Roadking Travel Centres Inc. announced the resignation of Mr. Alan Tookey as interim CFO. In the interim, the Company appointed Mr. Greg Spicer to serve as interim CFO, in addition to existing duties as President and CEO, until a successor is appointed.

Inter-Rock Minerals Inc. (TSX-V: IRO) announced the appointment of Ms. Diane Nasadiuk to the position of Chief Financial Officer. Ms. Nasadiuk is an accountant and has been involved with Inter-Rock for the past eight years.

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

What your LinkedIn profile says about you.

While our previous blog discussed how Facebook can be a Career Killer, LinkedIn is a most definitely a Career Maker. Or rather, it has the potential to be. Forbes.com recently quoted a Jobvite study from June 2010 stating that 73.3% of companies now look to social networking sites such as LinkedIn for recruiting rather than traditional job boards. In fact, eMarketer reports that 80% of companies who recruit via social media networking use LinkedIn for their recruiting.

LinkedIn has become the social media home for executives and professionals. In fact, Forbes reports that LinkedIn is most successful in assisting recruiters and companies to identify potential exective and management-level prospects rather than entry-level professionals who still would do better to turn to traditional job posting boards.

Your LinkedIn profile is your resume, your public profile to the world. Whether you like it or not, companies and recruiters could be looking at your profile, even as you read this article. What does your LinkedIn profile say about you?

No profile – Not Good. This says you are not interested in networking or career building. It also says that you are not ‘with it’. No one wants to hire or do business with a luddite.

Few connections (under 20) – this begs the question, are you really a person worth knowing?

20-100 connections – many users fit into this category. This says you are a person worth knowing, but you’re not a connector.

100-500 connections – You are a connector. This is where most executives and professionals should be at. An executive or professional like you should have enough visibility to know 100 people like yourself.

500+ connections - You’re a star networker. If you’re not in a sales or recruiting role already, perhaps you should consider it. You are a go to guy (or gal).

Having a Closed Network – This says you are afraid of your contacts knowing who you know. It means you are protective of your contacts. The only valid reason I see for having a closed network is if you are a lawyer – maybe. Otherwise, how open you are to others defines how open they will be to you.

Having an Open Network – says you are interested in making a difference to the people in your network, by allowing all of them to see each other. To gain from networking, you need to give before you get.

So take a minute and look at your LinkedIn profile with a critical eye. Who are you connected to? Are all your connections old high school pals? Fraternity buddies? Friends? Or are all your connections career related? Are your career connections only related to your previous jobs? Or do you have many important connections at many different companies? Seek out connections that will give your profile a more well-rounded feel.

How are you presenting yourself to the world? Will a recruiter be able to see your strengths at first glance? Are your posts and comments intelligent and worthwhile? Do you contribute in a positive way to the online community?

Allow opportunities to find you. Use your LinkedIn profile to market yourself to the world.

Prediction: The Perfect Storm

Take the following ingredients:

- The recession is over.
- IFRS deadline approaching (January 1, 2011), with no turning back.
- Companies are hiring in finance again.
- Accounting Firms coming off the busiest busy season in years.
- Accounting professionals are leaving firms to start their own firms

Mix them together, and you have…

The biggest shortage of staff facing Accounting Firms in Canada (Big 4 and mid-tier) since 2003-2004.

Coming Soon to an Accounting Firm near you - September or October 2010.

(Please note that this Storm is predicted for Canada only).

Canadian CFOs on the Move – week ended July 16, 2010

Precision Drilling Corporation (TSX: PD) announced the appointment of Robert McNally as Executive Vice President and Chief Financial Officer. Doug Strong, currently Chief Financial Officer of Precision, will become President, Completion and Production Services.

Absolute Software Corp. (TSX: ABT) announced that Rob Chase is moving from his position as chief financial officer of the company to take on the role of chief operating officer. Joining Absolute is Errol Olsen, who has been appointed CFO. Mr. Olsen joins Absolute from Inetco Systems, where he has served as CFO since 2008. He has previously held senior finance roles at Explorer Software, Pivotal Corp. and Infowave Software.

MetalCORP Limited (TSX-V: MTC) announced that Mr. Sam Garofalo, H.B. Comm., CA, CMA, will be joining MetalCORP as the Chief Financial Officer, to replace Michael Thompson who has tendered his resignation from the Company to take effect after a reasonable transition period. Mr. Garofalo is currently the CFO for Rockex Limited, a privately-owned developing mining company, and is a Professor of Accounting at Confederation College in Thunder Bay. He has worked as an auditor with Ernst & Young, Chartered Accountants, and served as CFO for several private companies.

Vecima Networks Inc. (TSX: VCM) announced the appointment of Mr. John Hanna to Chief Financial Officer and the appointment of Vecima's former CFO, Mr. Mike Barry, to President of YourLink, Vecima's wholly owned wireless internet service provision company. Previously, Mr. Hanna was an executive at iFire Technology, where he was VP Finance & Administration.

The Churchill Corporation (TSX: CUQ) announced that following the acquisition of Seacliff Construction Corp, Mr. Daryl Sands is the Executive Vice President Finance & CFO.

ZENN Motor Company Inc. (TSX-V: ZNN) announced the appointment of Larry A. Goldberg as Chief Financial Officer. Mr. Goldberg succeeds Lawrence Schreiner who served as ZMC's CFO from 2006 and who steps down on July 30, 2010. Mr. Goldberg previously held the positions of Executive Vice-President and CFO of Pinetree Capital Ltd. as well as CFO of Mega Uranium Ltd., both TSX-listed companies.

Postmedia Network Inc., which purchased the newspaper assets of CanWest, announced a number of executive appointments in the newly formed company, including the appointment of Doug Lamb as Chief Financial Officer and Executive Vice President.

Sterling Resources Ltd. (TSX-V: SLG) announced the appointment of David Blewden to the position of Chief Financial Officer (CFO), replacing Ian Hornby-Smith who is retiring but will remain in a supporting capacity in order to ensure a smooth transition.

Redzone Resources Limited (TSX: REZ) announced the appointment of Ms. Pauline Pasetka to the non-board position of Chief Financial Officer. Ms. Pasetka replaces Redzone's former CFO Peter Miller. Ms. Pasetka was formerly a Director of Brett Resources Inc., a mineral exploration company, until its recent acquisition by Osisko Mining Corporation. Prior to this, Ms. Pasetka has held positions as Chief Financial Officer or Controller of mining companies listed on the TSX Exchange and AIM of the London Stock Exchange.

Cirrus Energy Corporation (TSX-V: CYR) announced the resignation of Ms. Pamela Orr, Chief Financial Officer.

ERA Carbon Offsets Ltd., (TSX-V: ESR), announced that Mr. Jeff Calvert has been appointed Chief Financial Officer of the company. Mr. Herrick Lau has resigned as CFO effective July 15, 2010.

Estrella International Energy Services Ltd. (TSX-V: EEN) announced that Bryan Kornegay will resign effective August 15th as a director and the Chief Financial Officer, and that Christian Bauwens will be appointed a director of the company and the Chief Financial Officer effective August 15th concurrent with the resignation of Mr. Kornegay.

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

Canadian CFO’s on the Move – week ended July 9, 2010

Excellon Resources Inc. (TSX: EXN) announced the appointment of Robert Whittall to the position of CFO of Excellon Resources Inc. Mr. Whittal has worked most recently with Volta Resources Inc. as Chief Financial Officer where he was also a founder and director. He has also held senior financial management positions with TVX Gold Inc., as Vice President, Finance and Rio Algom Limited and Anvil Range Mining over the course of his career.

Stonegate Agricom Ltd. (TSX: ST) announced the appointment of Germaine Coombs as Vice President and Chief Financial Officer, effective September 1, 2010. Ms. Coombs replaces William E. Jupp, who has resigned as Chief Financial Officer. Ms. Coombs was most recently the Corporate Controller of FNX Mining Company Inc., and previously held increasingly senior accounting roles in operations and corporate finance with the Iron Ore Company of Canada, a Rio Tinto company.

International Minerals Corporation (TSX: IMZ, Swiss: IMZ) announced that Mr. Eric Edwards has resigned from his position as Chief Financial Officer (“CFO”) in order to pursue other business opportunities. In the interim, IMZ’s Controller, Mr. Scott Weger, will be acting in the role of CFO.

Greystar Resources Ltd. (TSX:GSL, AIM:GSL) announced the appointment of David Newbold as Chief Financial Officer (CFO) of the Company effective August, 2010. David spent eleven years (1995-2006) at Placer Dome Inc. where he held positions of increasing responsibility including Senior Vice President, Commercial; Senior Vice President Strategy, Placer Dome America; President & CEO, Zaldivar Copper Mine; and Senior Vice President and CFO, Placer Dome Latin America. Prior to Placer Dome David spent several years at Outokumpu holding various finance positions.

Innovative Wireline Solutions Inc. (TSX-V: ALH) announced that Cameron Bawol has replaced Ray Charron as Vice President, Finance and Chief Financial Officer.

Trueclaim Exploration Inc. (TSX-V: TRM) announced that it has hired Mr. Stephen Holmes, CA as the Company's Chief Financial Officer.

Pinetree Capital Ltd. (TSX: PNP) announced that Larry Goldberg, the Company's Executive Vice President and Chief Financial Officer, has resigned effective August 15, 2010 to pursue other business interests. Gerry Feldman, C.A., Pinetree's Vice President, Corporate Development, will assume the role of Chief Financial Officer upon Mr. Goldberg's departure.

Mega Uranium Ltd. (TSX:MGA) announces that Larry Goldberg, the Company's Chief Financial Officer, has resigned effective August 15, 2010 to pursue other business interests. While the Company undertakes a search for Mr. Goldberg's replacement, Gerry Feldman, C.A., will assume the role of Chief Financial Officer upon Mr. Goldberg's departure. Mr. Feldman is currently Chief Financial Officer of Brownstone Ventures Inc. and is a senior officer and director of other TSX and TSX Venture Exchange-listed issuers.

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

Is Facebook a Career Killer?

Social media is the phenomenon of recent times. The top 3 social media sites of today - Facebook, LinkedIn and Twitter - each have their own unique features which make people come back to them again and again.

The upside of social media sites is that they allow you to connect and create community, and these sites can be very effective, if used properly, to foster and solidify relationships in the real world.

The downside of social media is that people might end up knowing much more about you then you would want them to.

In my opinion, Facebook is the most dangerous Web 2.0 site for the professional and executive. There are many ways Facebook can be detrimental to your career. One example of how it can do this is through the Games functionality.

How is that? Well, do you REALLY want to let the world know that you play Farmville or that you are very into Horoscopes? We all have our outlets for fun - and that's fine. But you need to keep in mind that others can see in real time exactly when you reached another level on Farmville. Your current (and future) employer, clients, and employees may see this activity - and it can have a negative impact on your career. Needless to say, participating in this kind of activity during working hours, even if you are officially out of the office, only makes the situation worse. Perception is reality, how much more so in virtual reality.

One solution is for professionals and executives to create a Games profile on Facebook. This way you can enjoy your favorite Facebook games without letting the professional world know what level they just reached in the online mafia.

Games are one example of how Facebook can be a Career Killer. Be careful out there.

Keep an eye out for our upcoming posts on how other social media sites affect your career.