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

Companies with CFOs on the Move this week: Oceanic Iron Ore Corp., Terreno Resources Corp., NuLegacy Gold Corporation, Unique Broadband Systems, Inc., Sonoro Energy Ltd., Viper Gold Ltd., Bank of Montreal, Logan Resources Ltd., Melcor Developments Ltd., Sahara Energy Ltd., LMS Medical Systems Inc., North Atlantic Resources Ltd., Symax Lift (Holding) Co. Ltd., Quest Rare Minerals Ltd.

Oceanic Iron Ore Corp. (TSX-V: FEO) announced the appointment of Irfan Shariff as Chief Financial Officer and corporate secretary of the Company, replacing Gordon Keep who was interim CFO, but reamins a director of the company. Mr. Shariff has previously worked as a consultant to a number of junior resource companies based in Vancouver.

Terreno Resources Corp. (TSX-V: TNO) announced the appointment of Gerry Feldman as Chief Financial Officer of Terreno, replacing Jon Lever who remains on the Board of Directors. Mr. Feldman is currently Chief Financial Officer of Pinetree Capital Ltd. as well as several other publicly traded companies. Mr. Feldman also served and continues to serve as a director of other public and private companies.

NuLegacy Gold Corporation (TSX-V: NUG) announced the appointment of Adrian Rothwell to the position of Chief Financial Officer, replacing James Beairsto who recently retired. Mr. Rothwell brings NuLegacy Gold a broad experience in accounting, finance, regulatory matters and corporate finance, and has served as the Chief Financial Officer for a number of venture mining exploration and development companies.

Unique Broadband Systems, Inc. (TSX-V: UBS) announced that Malcolm Buxton-Forman has left the Company as Chief Financial Officer. C. Fraser Elliott has been appointed Chief Financial Officer to replace Mr. Buxton-Forman. Since 1987, Mr. Elliott has been the President of CFE Financial Inc., a private investment banking company. In addition, from January 1, 2005, Mr. Elliott was Chief Financial Officer of Tangarine Payment Solutions Corp. Mr. Elliott was involved in both the listing on the TSX Venture Exchange in 2005 and the subsequent successful sale of the business in 2009. Mr. Elliott is also the Executive Chairman of the board of directors of Gowest Amalgamated Resources Ltd. and a director of Sylogist Inc., which companies are both listed on the TSX Venture Exchange.

Sonoro Energy Ltd. (TSX-V: SNV) announced the appointment of Lance Mierendorf to the position of Chief Financial Officer, replacing Brian Farrell who has served as interim CFO of the Company. Mr. Farrell will continue as a member of the Company's Board of Directors. Most recently Mr. Mierendorf has held the position of Corporate Controller with Buried Hill Energy, a privately held corporation involved in oil and gas activities in Turkmenistan and The Gambia. Prior to this, Mr. Mierendorf was the Middle East Regional Finance Manager for Anadarko Petroleum Corp., overseeing activities in Qatar and Oman. Previously, Mr. Mierendorf held senior finance and management positions with Gulfstream Resources Ltd. in Cyprus, Bonus Resources Services Corp. in Canada and Ivanhoe Energy Ltd. in Siberia, Russia.

Viper Gold Ltd. (TSX-V: VPR) announced that Joseph Del Campo has been appointed interim Chief Financial Officer, replacing Gregory Jerome. Mr. Del Campo has over 30 years of management and accounting experience in the natural resources sector and has been a Director of Viper Gold since August 17, 2010. Mr. Jerome has stepped down as Chief Financial Officer of Viper Gold, a position he has held since February, 2008. Mr. Jerome will continue to work with Mr. Del Campo during the transition period and will remain as a member of the board of directors of the Company.

Bank of Montreal (TSX: BMO, NYSE: BMO) announced the appointment of Tom Flynn as Executive Vice-President and Chief Financial Officer, succeeding Russ Robertson, effective March 23, 2011. Previously, Mr. Flynn was Executive Vice-President and Chief Risk Officer, where he further strengthened BMO's risk function and the management of risk across the organization and provided exemplary leadership while navigating through an historic market environment, a changing economy and regulatory context, and shifting capital requirements. Mr. Flynn joined BMO in 1992 and has served in a number of senior roles. Mr. Flynn continues to report to the President and CEO.

Logan Resources Ltd. (TSX-V: LGR) announced the resignation of Peter F. Cummings as CFO and director, effective December 29, 2010. With the departure of Mr. Cummings, the Company has appointed Anna Ladd to the position of Chief Financial Officer. Ms. Ladd is an experienced financial professional with a wide array of experience in the mining industry and most recently served as the Chief Financial Officer of Sulliden Gold Corporation and Crowflight Minerals Inc. She has also held senior positions with various mining companies including Kinross Gold Corporation and has also worked in Thompson and Sudbury operations for Vale Inco.

Melcor Developments Ltd. (TSX: MRD) announced the appointment of Jonathan Chia as CFO and VP Finance. Jonathan joins Melcor after serving as Corporate Controller and then CFO of an Edmonton-based public company with global operations.

Sahara Energy Ltd. (TSX-V: SAH) announced the appointment of Qiping Men as Chief Financial Officer ("CFO"), replacing Doug James. Mr. Men is a well rounded managerial accountant with over 20 years experience in a wide range of industries and public accounting firms and nine years experience as an engineering manager in a manufacturing company. Mr. Men has a solid accounting experience in public accounting firms and has provided accounting services to private and public oil and gas companies and other businesses.

LMS Medical Systems Inc. (TSX: LMZ) announced that it has accepted Yves Grou's resignation as President and Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") of the Company. However, Mr. Yves Grou shall remain a Director of the Company. Cameron R. Prange has been duly appointed CEO and CFO of the Company effective January 1, 2011.

North Atlantic Resources Ltd. (TSX-V: NAC) announced the appointment of Kyle Appleby as North Atlantic's Chief Financial Officer, replacing Roderick Chisholm who has resigned. Since 2007 Mr. Appleby has been providing financial, accounting, compliance and other corporate services to companies in diverse industries including junior mining, manufacturing and distribution, technology and nutraceutical products. Prior to 2007 he spent over 8 years in public practice providing assurance services to Canadian companies, with a focus on investment funds. Mr. Appleby is currently also the Chief Financial Officer for Renforth Resources Inc., Takara Resources Ltd and Xylitol Canada Inc.

Symax Lift (Holding) Co. Ltd. (TSX-V: SYL), announced that Xiao Qin (Mary) Ma, the current Corporate Secretary and a Director of Symax, has been appointed as the Company's Interim Chief Financial Officer, replacing Ian Fodie who has resigned as Chief Financial Officer of the Company.

Quest Rare Minerals Ltd. (TSX-V: QRM) announced the appointment of Mark Schneiderman as Chief Financial Officer of Quest, replacing Ronald Kay who will continue to act as a Director. Mr. Schneiderman has been Quest's Treasurer since its incorporation. Mr. Schneiderman was recently the Chief Financial Officer of Freewest Resources Canada Inc. prior to its acquisition by Cliffs Natural Resources Inc in 2010 and has been involved with Freewest since 1996.
 
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Social Media Accountants

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 October 29, 2010

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.

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

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.

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

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

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 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.

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).