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

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.

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

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.

Why companies have unfilled jobs

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

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

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

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.

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

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.

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

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 22, 2010

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.

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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.


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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.

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

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.

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Canadian CFOs on the Move – week ended August 27, 2010

Anvil Mining Limited (TSX, ASX: AVM) announced the appointment of Philippe Monier as its Vice President Corporate and Chief Financial Officer, effective October 1, 2010. Philippe will succeed Lui Evangelista who has been Acting CFO since the retirement of Craig Munro earlier this year. Philippe's previous CFO positions include Bateman Engineering, Dynatec and BHPBilliton Base Metals. Prior to this, Philippe's experience includes nine years with Lehman Brothers Energy Group, finishing as Senior Vice President of the oil services franchise.

3P International Energy Corp. (TSX-V: DOH) announced the appointment of Wally Rudensky as Chief Financial Officer. Mr. Rudensky is President of DFF Management Inc., a private company providing financial management and governance services to Canadian and U.S. listed companies.

AM Gold Inc. (TSX-V: AMG, FRANKFURT: AMX) announced the appointment of Mark Lawson to the position of Chief Financial Officer. Mr. Lawson joined AM Gold's Board of Directors on June 21, 2010. Mr. Lawson worked as an investment banker with Morgan Stanley in New York from 2005 until 2008 where he was involved in the execution of over $6 billion worth of mergers and acquisitions, $8 billion worth of debt offerings and $500 million of equity financings. Mr. Lawson was previously a Director of a boutique corporate finance firm in Toronto, Canada.

Cordy Oilfield Services Inc. (TSX-V: CKK) announced that Matt Braaten has been appointed Cordy's Interim, Chief Financial Officer. Mr. Braaten, who joined Cordy in April, is a designated Chartered Accountant.

Great Canadian Gaming Corporation (TSX: GC) announced that Milton C. Woensdregt has resigned as Chief Financial Officer of the Company effective August 19, 2010. Kiran Rao, currently the Company's Vice President of Corporate Finance and Controller, has been appointed as Interim Chief Financial Officer, effective immediately. Mr. Rao, an employee of the Company since 2006, is a Chartered Accountant who possesses more than a decade of both domestic and international experience in corporate finance and accounting.

Maestro Ventures Ltd. (TSX-V: MAP) announced the resignation of Mark Achtemichuk, its CFO. He is being replaced by the Company's former CFO, Ronnie Doman.

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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.

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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.

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Canadian CFO’s on the Move – week ended July 2, 2010

CIBT Education Group Inc. (TSX: MBA, AMEX: MBA) appointed Dennis Huang as the Chief Financial Officer of CIBT, replacing Tim Leong, who has resigned from his position as Chief Financial Officer. Mr. Leong has been appointed as the VP of Finance and Accounting of CIBT and will continue to provide accounting, financial and administrative services to the Company.

FMX Ventures Inc. (TSX-V: FXX-H) announced that it has appointed Carmelo Marrelli as its Chief Financial Officer. Mr. Marrelli replaces Jon Kelly who has resigned to pursue other interests. Mr. Marrelli holds a Bachelor of Commerce degree from the University of Toronto and is a qualified Chartered Accountant and Certified General Accountant.

US Silver Corporation (TSX-V: USA, OTCQX: USSIF, Frankfurt: QE2) announced the appointment of Christopher J. Hopkins as the Company's new Chief Financial Officer (CFO), replacing Joseph Rauhala. Mr. Hopkins most recently served Excellon Resources Inc. as Chief Financial Officer. Mr. Hopkins has twenty-five years of experience in financial planning and analysis, accounting, financial reporting, and corporate finance. This includes seven years of combined experience as a Chief Financial Officer.

Lumina Copper Corp. (TSX-V: LCC) announced that Martin Rip has been appointed as Chief Financial Officer, replacing Sandra Lim, who is retiring from the position. Mr. Rip is a Chartered Accountant with 10 years experience in the mineral resource sector and joins Lumina having served previously as Chief Financial Officer for a Canadian resource company.

Sinchao Metals Corp. (TSX-V: SMZ) announced the appointment of Bruce Ramsden as Vice President, Finance and Chief Financial Officer. Mr. Ramsden has been a Vice President and CFO with noted resource companies since 1996.

PetroGlobe Inc. (TSX-V: PGB), undergoing a reorganization transaction, announced the appointment of Jason James as Chief Financial Officer. Mr. James is a chartered accountant with more than 16 years of finance, business development, strategic planning and tax experience, operating in Canada. He has held the position of CEO and director of PetroGlobe Inc. for the past three years.

Toronto 2015 Pan American Games announced the appointment of Barbara Anderson as Chief Financial Officer. Most recently CFO for MaRS Discovery District and MaRS Innovation, she has worked for PepsiCo, Cara Foods, Progistix-Solutions Inc., and the Securit Group of Companies. An MBA graduate of the Rotman School of Business, University of Toronto, Anderson also is a Chartered Accountant (Ontario) and has a BSc from the University of British Columbia.

Provident Energy Trust (TSX: PVE.UN), announced that Mark Walker, Senior Vice-President, Finance & Chief Financial Officer (CFO) will step down from his role with Provident concurrent with the naming of his replacement, which is expected to be on or before September 30, 2010. Mr. Walker will remain with Provident in an advisory role for an appropriate period after that date.

Treasury Metals Inc. (TSX: TML) announced that it has appointed Dennis Gibson as Chief Financial Officer for the Company. Mr. Gibson served as Vice President, CFO and Corporate Secretary for Vector Intermediaries Inc from 1996 to 2004, as CFO for Aquiline Resources Inc. from April 2006 to December 2009 and as CFO for Laramide Resources Ltd. from April 2006. Mr. Gibson replaces James Fairbairn, former CFO for Treasury, who has stepped down to pursue other interests in the resource sector.

BioWest Therapeutics Inc. (TSX: BWE) announced that Jeff Charpentier was appointed chief financial officer of the Company. Over the course of the past fifteen years, Mr. Charpentier has successively served as chief financial officer of each of Inex Pharmaceuticals Corporation, Chromos Molecular Systems Inc. and Lignol Energy Corporation. Bruce Schmidt resigned from his position as interim chief financial officer and president of the Company effective June 28, 2010, but will continue in his role as corporate secretary and as a director of Biowest.

OPTI Canada Inc. (TSX: OPC) announced the appointment of David Halford to its Board of Directors. Mr. Halford is the Executive Vice President, Finance and Chief Financial Officer of ENMAX Corporation. He is responsible for all financial policy, planning and reporting, risk management, corporate finance, tax and treasury functions of ENMAX and its subsidiaries. Prior to joining ENMAX, Mr. Halford held Chief Financial Officer roles at OPTI, BA Energy and Irving Oil.

New Guinea Gold Corporation (TSX-V: NGG)(FRANKFURT: NG8) announced that Paul Schultz has resigned as Chief Financial Officer (CFO), and that Lisa Hartin has been appointed CFO.

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Canadian CFO’s on the Move – week ended June 25, 2010

HudBay Minerals Inc. (TSX: HBM) announced the appointment of Mr. David Garofalo as President and Chief Executive Officer and to the Board of Directors of the Company, effective July 12, 2010. Most recently, Mr. Garofalo served as Senior Vice President, Finance and Chief Financial Officer with Agnico-Eagle Mines Limited, where he has been employed since 1998. Mr. Garofalo is a graduate of the University of Toronto (B.Comm.) and a Chartered Accountant, and serves on the Board of Directors of York Central Hospital Foundation.

TransCanada (TSX: TRP) announced that Greg Lohnes, currently Executive Vice-President and Chief Financial Officer, is appointed to the role of President, Natural Gas Pipelines. TransCanada also announced that Don Marchand, currently Vice-President, Finance and Treasurer, is appointed to the role of Executive Vice-President and Chief Financial Officer.

Crombie Real Estate Investment Trust (TSX: CRR.UN) announced the appointment of Glenn Hynes CA, to the position of Chief Financial Officer and Secretary. Mr. Hynes previously held the position of Chief Financial Officer at the time of Crombie's establishment and initial public offering in 2006. Mr. Hynes also held the position of Executive Vice President and Chief Financial Officer of Sobeys Inc. from 2001 to 2004 and Executive Vice President & Chief Development Officer (2005-2006) and subsequently was appointed Executive Vice President and Chief Financial Officer of Gammon Gold Inc. Most recently, Mr. Hynes served as Chief Financial Officer and a Partner of Bluewave Energy Ltd, a national fuel distributor.

Magma Energy Corp. (TSX: MXY) announced that Ms. Sandra Lim will retire as Chief Financial Officer, and that Ms. Annette Cusworth has been appointed to replace Ms. Lim. Ms. Cusworth is a Chartered Accountant and joins Magma from a long career with a major Canadian public company, most recently as Vice President and Chief Accounting Officer.

Temple Real Estate Investment Trust (TSX-V: TR.UN) announced the appointment of Mr. Larry Beeston as Chief Financial Officer, replacing Mr. John Liddle, CGA. Mr. Beeston, CA, is the Senior Manager - Financial Reporting for Shelter Canadian Properties Limited. Mr. Beeston has been employed by Shelter Canadian Properties Limited for most of his career. He has also held other senior positions, including Chief Financial Officer of a TSX listed real estate investment trust for five years and Vice President - Finance and Chief Financial Officer of a real estate and management company for seven years. Mr. Beeston obtained his Chartered Accountant designation in 1980 and holds a Bachelor of Commerce degree from the University of Manitoba.

Goldsource Mines Inc. (TSX-V: GXS, FRANKFURT: G5M) announced the appointment of Barney Magnusson as Chief Financial Officer, replacing Graham Thody as Chief Financial Officer. Mr Thody will continue to serve as Director. Mr. Magnusson is a former Senior Officer and Director of three mining companies that developed producing mines: Dayton Mines Inc. (Chile), High River Gold Mines Ltd. (Manitoba, Canada) and Brohm Resources Inc. (South Dakota, USA).

Madalena Ventures Inc. (TSX-V: MVN, announced that Mr. Anthony Potter, Chief Financial Officer of the Company, was elected by the shareholders to join the Board of Directors.

Wescast Industries Inc. (TSX: WCS.A) announced the appointment of Teresa Fortney to the position of Chief Financial Officer. Ms. Fortney holds a Bachelor of Mathematics from the University of Waterloo, is a CMA and a Fellow of the Society of Management Accountants.

Augen Gold Corp. (TSXV:GLD) announced that Manish Z. Kshatriya, CA, has resigned as Chief Financial Officer of the Company, and that Carmelo Marrelli, CA, has been appointed as Chief Financial Officer. Mr. Marrelli holds a Bachelor of Commerce degree from the University of Toronto and is a qualified Chartered Accountant and Certified General Accountant.

Triple 8 Energy Ltd. (TSX-V:TEE) announced the appointment of Doug Bailey as Chief Financial Officer. For the past 6 years Mr. Bailey has taken on senior roles in the junior oil and gas sector including involvement in the financing, merging and dispositions, and restructurings of numerous junior entities. Concurrently Mr. Bailey has served as the Chief Financial Officer of Canadian Phoenix Resources Corp.

Stem Cell Therapeutics Corp. (TSX-V: SSS) As part of an announced cost cutting program, the employment contracts for Barry Herring, the current CFO has been terminated effective June 30, 2010. Mr. Herring, has agreed to stay on with the Company in his current capacity on a consulting basis for the following six months to assist the Company in its attempt to maximize the value of its intellectual property.

Copper Ridge Explorations Inc. (TSX-V: KRX) announced that Justin Blanchet has been appointed as Chief Financial Officer. Mr. Blanchet is a Chartered Accountant who was formerly a public accountant with Davidson & Company LLP. He has served as Controller for Golden Predator Corp. and EMC Metals Corp. since February 2010. Mr. Michael O'Brien who previously held the position of Chief Financial Officer will continue with the Company in an advisory capacity.

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Canadian CFO’s on the Move – week ended June 18, 2010

Palliser Oil & Gas Corporation (TSX-V: PXL) announced this week the appointment of Ivan J. Condic to the position of Vice President, Finance & Chief Financial Officer. Prior to joining Palliser, Mr. Condic was the Controller at an active Canadian junior oil producer. Prior thereto, he held positions with oil service and pipeline companies and KPMG.

Cymat Technologies Ltd. (TSX: CYM) announced the resignation of Trevor Sandler, the Company’s VP & CFO, effective July 2, 2010. Mr. Sandler will stay on to complete our year-end activities and AGM preparation prior to him joining his new company.

Sprott Power Corp. (SPC) announced that Martin Lim is joining the company as CFO. SPC has recently announced its formation, after the completion of an initial capital raise of approximately $20 million and its merger with Renewable Energy Developers LP ("ReD"), a private renewable energy company. SPC is a privately held Canadian company dedicated and committed to the acquisition, development and financing of renewable energy projects. SPC will be managed by Sprott Power Consulting LP ("SPCLP"), a newly-formed entity of which Sprott Consulting LP, a business unit of Sprott Inc. (TSX:SII), is the sole limited partner.

Blackline GPS Corp. (TSX-V: BLN) announced the appointment of Paula Kaner as Chief Financial Officer. Ms. Kaner succeeds Randy Henderson who departs to pursue the increasing demands of his consulting practice.

Gazit America Inc. (TSX: GAA) announced the appointment of Ms. Lenis W. Quan as Chief Financial Officer of the corporation effective July 5, 2010. Ms. Quan replaces John Todd, who was interim CFO. Prior to joining Gazit, Ms. Quan worked as a consultant, as well as at Brookfield Asset Management Inc. (NYSE: BAM, TSX: BAM.A) for 10 years in a number of progressive positions, most recently as Vice-President, Corporate Development and Treasury with Brookfield Homes Corporation (NYSE: BHS). Ms. Quan is a Chartered Accountant and received her initial training at Deloitte & Touche LLP.

Eurogas Corporation (TSX-V:EUG) announced the appointment of Mr. David Bhumgara as Chief Financial Officer of the Company replacing Ms. Lucie Presot. Mr. Bhumgara is a CA, CA-IT with over 16 years experience in financial reporting, budgeting, and IT. He was previously Controller – Resource Division for Dundee Corporation and has served with KPMG before assuming senior finance positions with public and private companies prior to joining Dundee Corporation.

Cyrium Technologies Inc., an Ottawa based venture backed company, in the area of advanced concentrator photovoltaic (CPV) cell solutions for the solar industry, announced the appointment of Alan L. McKinnon, Jr., is named Vice-President and Chief Financial Officer, replacing Steven Neal, who had filled the role during the interim transition period. McKinnon joins Cyrium from Vietnam Chipscale Advanced Packaging Services where he was Chief Financial Officer. Prior to this Mckinnon was with The Garrett Group of San Francisco, where since 2002 he had been senior vice president responsible for global structured financial advisory efforts.

Celeste Copper Corporation (TSX-V: C.V) announced the resignation of Mr. Tomasz Kedzierski as CFO of the Corporation for personal reasons.

Crombie Real Estate Investment Trust (TSX: CRR.UN) announced that Scott Ball has left his position with Crombie REIT as Chief Financial Officer.

Next Alternative, Inc., an Ottawa based Company (Frankfurt: N4H), announced that Bob Daly has been appointed as the firm's Chief Financial Officer. Recently, Bob held CFO positions with Klocwork and Espial where he led a successful IPO on the TSX. Daly has held a number of other senior financial roles with Ottawa-based companies including Cognos, Inc. and the Ottawa Senators Hockey Club.

Source Exploration Corp. (TSX-V: SOP) announced the appointment of Steve Filipovic, CA as interim Chief Financial Officer. Mr. Filipovic replaces Matthew Kavanagh who has resigned from the Company.

YANGAROO Inc., (TSX-V: YOO, OTCBB: YOOIF) announced that current CEO John Heaven will continue his role with the Company as President, Director and will also assume the role of Chief Financial Officer.

Blugrass Energy, Inc., a Calgary based Company, (OTC.BB: BLUG) is pleased to announce that they have appointed Jeff Dunphy as the Chief Financial Officer of the Company. Prior to joining Bluegrass, Jeff worked at Salman Partners, and Octagon Capital Corporation in Calgary. Mr. Dunphy has replaced Ms. Grace Sutherin who has resigned as Chief Financial Officer and as Director of the company to pursue other career opportunities.

Tango Energy Inc. (TSX-V: TEI) which, pursuant to shareholder approval was renamed Tamarack Valley Energy Ltd., has named Mr. Ron Hozjan as Chief Financial Officer. Most recently he was the Chief Financial Officer Financial Officer at Vaquero Resources Ltd. which was and Director acquired by RMP Energy Ltd. Prior to that he was the Vice President Finance and Chief Financial Officer at Vaquero Energy Ltd. which grew successfully before merging with Highpine Oil & Gas Limited.

TransAlta Corporation (TSX: TA; NYSE: TAC), today announced that Brett Gellner has been appointed Chief Financial Officer. Mr. Gellner succeeds Brian Burden, who has made a personal decision to retire from the company. Mr. Burden will assist Mr. Gellner with the transition through September 30, 2010. Mr. Gellner joined TransAlta in 2008 after 12 years with CIBC World Markets, where he was co-head of the Power & Utilities Group. Prior to CIBC, Mr. Gellner held senior roles in the corporate planning and development group at MacMillan Bloedel Ltd.

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

Spring Cleaning!

I apologize to my fans (Hi Mom!) for not sharing my thoughts over the past few weeks. I was too busy Spring Cleaning.

I didn't think you'd believe me.

However, Spring Cleaning is a great concept. For some, this is just theoretical.

With spring in the air, I recommend you clean these two important things.

1) Clean up your Personal Work Space.

Whether you have a cubicle, desk, or a corner office (which I hope to have one day soon), organizing those papers by either filing or recycling will do you a world of good, and reduce that feeling of "I'm Overwhelmed".

Try it. You'll like it.

But if your boss sees all that space around you and thinks you have room for more projects, please don't shoot the messenger.

2) Clean up your Work Team.

If you are working in any supervisory capacity, it's time to look at the team that reports to you and say "Are these the best people to work with me and help me deliver for what I am responsible for?". If you cannot say "Yes" without delay, it's a good time to think about what your team should look like, and go out and find them.

Spring is a time that many employees are considering change, and you could be their next new long-term employer.

Follow my advice, and not only will your work area be less cluttered, you'll have time to enjoy the weather outside.

Work Life Balance - No thanks, we're accountants

Work Life Balance is a significant issue today for all companies. Work Life Balance allows for increased retention and morale, and is an important sales pitch for hiring new recruits, especially Generation Y employees.

Can Work Life Balance be a reality in Financial Reporting Groups’ of companies?

Here are some issues going against Work Life Balance in Financial Reporting Groups’:

1) Month end. Quarter end. Year end.

Employees within a Financial Reporting Group face these deadlines and can basically forget vacations, weekend plans and family time. How can you have Work Life Balance in a Financial Reporting Group where you have these recurring deadlines?

2) Managers with old school training.

Many managers just assume that Work Life Balance is not an option within a Financial Reporting Group. They assume this because they were trained this way, just as their managers before them. Being a workaholic was a requirement for success in Financial Reporting Groups’ or in accounting firm (in many cases it still is). "Work smarter, not harder" is not a concept accepted by many FR professionals.

So what is the solution?

Hiring enough people to get the job done would be an appropriate solution. This is not a priority in many finance groups for many reasons. One reason is that Finance is not looked at as a value add group - it is managed as a cost group. (This topic specifically will be the subject of another blog).

Progressive companies are realizing that Work Life Balance is an issue that needs to be addressed. We are seeing companies that have implemented an overtime compensation policy in their Finance Group. This is an excellent tool to measure the real cost of deadline oriented work. Progressive Finance Managers measure the overtime as a way of compensating staff with flextime or additional vacation during off-peak periods. It is also an effective measure which allows for the necessity for hiring BEFORE your staff gets fed up and leaves you.

While Work Life Balance in a Financial Reporting Group may be difficult to achieve, for companies that care about their employees, it is possible. Where would you prefer to work?