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

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

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

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

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

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

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

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

CFO Career Track: Can a CFO change industries?

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

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

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

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

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

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

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

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

Companies with CFOs on the move this week include: Hanfeng Evergreen Inc., Titan Uranium Inc., Stornoway Diamond Corporation, Essential Energy Services Ltd., Platmin Limited, Seabridge Gold, Everton Resources Inc., Sono Resources Inc., Vicwest Inc., CriticalControl Solutions Corp., Orezone Gold Corporation, Arian Silver Corporation, RBC Capital Markets, West Fraser, Fiber Optic Systems Technology, Inc., Nextraction Energy Corp., Katanga Mining Limited, RDM Corporation, Symax Lift (Holding) Co. Ltd., Confederation Minerals Ltd.

Hanfeng Evergreen Inc. (TSX: HF) announced that Niral V. Merchant has been appointed Chief Financial Officer, replacing Paul Begin whose resignation and transition was previously announced. Most recently, Mr. Merchant served as the CFO for Royal Laser Corp., a TSX listed steel fabrication and distribution company, which was acquired in 2010.

Titan Uranium Inc. (TSX-V: TUE, Frankfurt: T4X) announced that Rahoul Sharan, Director of Titan Uranium has been appointed CFO of the company, replacing Kelly McShane. Prior to joining Titan, Mr. Sharan was the Chairman of the Board of Uranium Power Corp. Mr. Sharan was a partner of the S&P Group, which specializes in investment financing for venture capital projects, real estate development and construction. Mr. Sharan is also the President of KJN Management Ltd., which provides a broad range of administrative, management and financial services. Mr. Sharan also serves as a Director and Officer for several other TSX Venture Exchange listed companies.

Stornoway Diamond Corporation (TSX: SWY) announced that Jean-Jacques Carrier, Senior Vice-President and Chief Financial and Risk Officer of Investissement Québec, has been appointed a director.

Essential Energy Services Ltd. (TSX: ESN) announced the combination of their business with Technicoil Corporation (TSX:TEC) and that the CFO of the combined entity will be Jeff Newman. Robert Sprinkhuysen, Chief Financial Officer of Technicoil, is expected to continue in an ongoing advisory role with the combined company on a transition basis.

Platmin Limited (TSX: PPN) announced the appointment of Craig Shaw as Chief Financial Officer. Wayne Koonin, Platmin's the current CFO, will hand over his responsibilities to Mr. Shaw in the coming weeks. For the past 14 years, Mr Shaw is currently Joint Head of the Natural Resources/Mining Corporate Finance team at Investec Corporate Finance, a division of Investec Bank Limited. Prior to joining Investec, Mr Shaw managed various listings on the London Stock Exchange and was the CFO of Cunico Nickel.

Seabridge Gold (TSX: SEA, NYSE Amex: SA) announced that Christopher J. Reynolds will join the Company as Vice President, Finance, Chief Financial Officer and Corporate Secretary effective May 1, 2011. Mr. Reynolds will be replacing Roderick Chisholm. Most recently, Mr. Reynolds was Vice President, Finance and Chief Financial Officer for Norsemont Mining Inc. which was acquired this year by HudBay Minerals Inc. Prior to Norsemont, Mr. Reynolds served in the same position with SouthernEra Diamonds Inc. which was purchased by Mwana Africa PLC in 2007. His experience also includes senior positions with Southern Platinum Corp., TVX Gold Inc. and Inmet Mining Corporation.

Everton Resources Inc. (TSX-V: EVR, FRANKFURT: ERV) announced the appointment of Judith Mazvihwa-MacLean as new Chief Financial Officer effective, replacing Khadija Abounaim. Prior to joining Everton Resources Inc., Ms. MacLean was the CFO for Logan Resources Ltd., and Acme Resources Inc. (formerly, International KRL Resources Corp.) from 2002 to 2010 and Golden Harp Resources Inc. from 2006 to 2009. She also served on the Boards of both Logan Resources Ltd., and Acme Resources Ltd. From 2001 through 2002, Ms. MacLean was the Exploration Geologist for Cumberland Resources Ltd. and Northgate Resources Ltd. in Canada. Previous to this, she was the Section Head and Section Geologist at Turk Mine and Queens Mine, Casmyn Mining Zimbabwe (Pvt) Ltd. and a Field Geologist for Prospecting Ventures Ltd., a subsidiary of Anglo-American Corp. in Zimbabwe.

Sono Resources Inc. (OTCQB: GVRS) announced the appointment of William D. Thomas as CFO of the Company. Most prominently, Mr. Thomas has held various management positions with Kerr McGee Corporation's operations in Beijing, China, ending in 2004 with his final position as Director of Business Services. From July 2007 to March 2010 he was the CFO for Hana Mining Ltd., a TSX-V company exploring for copper and silver in Botswana, Africa. Mr. Thomas also holds the position as CFO of Mainland Resources, an oil and gas exploration company based in Texas.

Vicwest Inc. (TSX: VIC) announced the appointment of Edward Mahood as interim Chief Financial Officer following the departure of John Slattery. Mr. Mahood was most recently EVP and CFO for Linamar Corp, a large publicly traded precision manufacturing company with a market capitalization of $1.4 billion. Prior to joining Linamar, Mr. Mahood held a series of increasingly senior finance positions at Toyota Motor Manufacturing Canada, including ultimately leading the finance department before joining Linamar in 2008.

CriticalControl Solutions Corp. (TSX: CCZ) announced the appointment of Bruce Byford as Chief Financial Officer of the Corporation. Hashu Remtulla, formerly VP and CFO will remain with CriticalControl in the newly formed role of Vice President and Corporate Controller.

Orezone Gold Corporation (TSX: ORE) announced that Sean Homuth has returned, after a brief absence, to the position of Chief Financial Officer. Joe McCoy is now VP Administration for Orezone and CFO for Brighton Energy Corp (67% owned by Orezone).

Arian Silver Corporation (TSX-V: AGQ) announced the appointment of Samuel Clarke as the Company's Chief Financial Officer, effective as of May 9, 2011. Previous senior finance roles include Head of Finance/Finance Manager for Eni International Resources Limited, a subsidiary of Eni S.P.A.; Financial Controller for Weatherly International; Financial Controller for UK Online, a subsidiary of BSKYB; and Senior Auditor with Ernst & Young.

RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (TSX: RY, NYSE:L RY) announced the appointment of Stephen Krag as Chief Financial Officer Europe. Mr. Krag has joined from Daiwa Capital Markets Europe where he was Chief Financial Officer. Prior to this, Mr. Krag was Chief Operating Officer for HBOS Treasury Services and held a number of senior finance positions within capital markets, equities and global financial market businesses for NatWest Securities. Mr. Krag will be based in London and reports to John Burbidge, CEO, Europe, RBC Capital Markets.

West Fraser (TSX: WFT) announced that Gerry Miller, Executive Vice-President, Finance and CFO will retire at the end of July 2011. Mr. Miller joined the Company in 1986 as Corporate Controller and has served West Fraser in a number of senior management roles in administration, operations and finance. Larry Hughes, Senior Vice-President and Secretary, will become Vice-President, Finance and CFO upon Mr. Miller's retirement. Mr. Hughes joined the Company in September of 2007 following a 27-year career as a corporate and commercial lawyer.

Fiber Optic Systems Technology, Inc. (TSX-V: FOX) announced that Sean Carr has resigned as Chief Financial Officer. Allen Lone, the President of the Corporation, has been appointed the interim Chief Financial Officer until such time that the Corporation completes its search for a permanent Chief Financial Officer.

Nextraction Energy Corp. (TSX-V: NE) announced that Scott David Badcock has been appointed as Chief Financial Officer of the Company. Prior to joining Nextraction, Mr. Badcock was employed by two of the world's largest professional service firms, Ernst & Young and Deloitte & Touche and has extensive oil and gas industry experience serving such clients as Paramount Resources Ltd., MGM Energy Corp. and British Petroleum PLC in Calgary, Alberta.

Katanga Mining Limited (TSX: KAT) announced that Nick Brodie, Chief Financial Officer and Secretary of the Company, has resigned. Mr. Brodie will remain available to ensure a smooth transition of responsibilities. Nico Paraskevas will serve as the new Chief Financial Officer and Acting Secretary of the Company. Mr. Paraskevas is currently Commercial Director of Kamoto Copper Company, a DRC-based subsidiary of Katanga.

RDM Corporation (TSX: RC) announced that Chief Financial Officer James Merwin has resigned from his position to pursue a similar role at a privately owned company. Mr. Merwin will continue in the role until the release of the second quarter results, expected to be on May 2, 2011. RDM has commenced a formal process to select a successor.

Symax Lift (Holding) Co. Ltd. (TSX-V: SYL) announced that Xiao Qin (Mary) Ma, the current Interim Chief Financial Officer and a Director of the Company, has been formally appointed to the position of Chief Financial Officer of the Company. Ms. Ma is also currently a director and Chief Financial Officer of Polo Biology Global Group Corporation. Amongst other positions held by Ms. Ma, she was the Financial Controller and Project Manager of Zongshen PEM Power Systems Inc., Financial Controller of Chongqing Lear Changan Interior Co., Ltd and Chief Financial Officer of Chongqing Skyman Industrial Group Co., Ltd.

Confederation Minerals Ltd. (TSX-V: CFM) announced the appointment of Savio Chiu as the chief financial officer and corporate secretary. Mr. Chiu is currently Senior Manager, Corporate Finance of Baron Global Financial Canada Ltd. Previously, he was a professional staff accountant with an international accounting firm where he gained valuable experience leading large teams for audits under Canadian GAAP for public multi-national clients.

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

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

Companies with CFOs on the Move this week include: CIBC, Redishred Capital Corp., Tuscany International Drilling Inc., IBI Group Inc., Mercury Filmworks, Prism Medical Ltd., Shear Diamonds Ltd., Josephine Mining Corp., Aldridge Minerals Inc., MGold Resources Inc., Resinco Capital Partners Inc., Electric Metals Inc., Grizzly Discoveries Inc. , Novadx Ventures Corp., Sino Vanadium Inc., Toronto Community Housing, Priszm Income Fund


CIBC (TSX: CM, NYSE: CM) announced that Kevin Glass has been named Senior Executive Vice President, CIBC, and Chief Financial Officer replacing David Williamson. As part of this role, Kevin will become a member of the bank's Senior Executive Team, reporting to the CEO. Kevin has been with CIBC since January 2009. Prior to joining CIBC, Kevin was Chief Financial Officer of a number of Canadian companies

Redishred Capital Corp. (TSX-V: KUT) announced the appointment of Jeffrey Hasham as its new Chief Executive Officer. Mr. Hasham has been Redishred’s Chief Financial Officer since March 2008. Robert Crozier will be stepping down as the Chief Executive Officer. In addition to the appointment of Mr. Hasham to Chief Executive Officer, Redishred is also pleased to announce the appointment of Kasia Pawluk, to the position of Chief Financial Officer.

Tuscany International Drilling Inc. (TSX: TID) announced that Matt Moorman, presently the Executive Vice President, Corporate Finance and Business Development of the Corporation, was appointed the Chief Financial Officer of the Corporation and the current Chief Financial Officer, Bruce Moyes, was appointed Vice President, Finance and Reporting. Before joining the Corporation in August of 2010, Mr. Moorman acted as Vice President Finance and Treasurer with Provident Energy Ltd. since 2003. Prior thereto, he acted as a member of the senior management team with TransAlta Corporation and TransAlta Power Income Trust, serving in senior financial and commercial positions from 1997 to 2003. Prior to joining the Corporation, Mr. Moyes acted as Vice President, Finance and Treasurer of Ensign Energy Services Inc., a land-based international oilfield services contractor whose shares are listed on the TSX. Prior thereto, Mr. Moyes was a Manager of Financial Planning and Analysis at Canadian Pacific Limited from 1996 to 1999.

IBI Group Inc. (TSX: IBG) is pleased to announce the appointment of Michel Poitras as Interim Chief Financial Officer. Michel Poitras replaces Allan Kamerman, who is departing IBI Group Inc. Prior to joining the IBI/DAA group, Mr. Poitras was a partner with Raymond Chabot Grant Thornton.

Mercury Filmworks announced the promotion of Sandra Green from Director of Finance to Vice President, Finance. In her new position Green will report directly to Mercury President Clint Eland and oversee all aspects of the company’s production and corporate finances. Green, a 15 year veteran of the Canadian entertainment industry, joined Mercury Filmworks in 2004 as a corporate controller after working at several Ottawa production companies including MTR Entertainment and Lacewood Productions.

Prism Medical Ltd. (TSX-V: PM), announced the appointment of George Chiarucci to the position of Chief Financial Officer, succeeding William Edwards, who now holds a key senior operational role with Prism Medical as Executive Vice President, Operations. Mr. Chiarucci previously served as Chief Financial Officer with TSX-listed companies including Atlantis Systems Corp., Timminco Ltd., and Cymat Corp.

Shear Diamonds Ltd. (TSX-V: SRM) announced the appointment of Gregory Rieveley to the Company's Board of Directors. Mr. Rieveley is currently the Chief Financial Officer of Noront Resources Ltd.; previously he held the position of Vice President, Internal Audit and Business Development at Harry Winston Diamond Corporation (formerly Aber Diamond Corporation), and prior to that he was the Controller for Dundee Precious Metals. Mr. Rieveley will be a member of the Shear's Audit Committee and Compensation Committee. The appointment of Mr. Rieveley follows the resignation of Dr. Keith Barron. Dr. Barron will continue his involvement with Shear through his appointment to the Advisory Board.

Josephine Mining Corp. (TSX-V: JMC) announced that R. Llee Chapman will fill the position Chief Financial Officer and will be a Director. Mr. Chapman's mining experience includes public company CFO level management in positions with Barrick Goldstrike Mines, Apollo Gold Inc., Knight Piesold & Co. and Idaho General Mines (now General Moly, Inc.). He managed accounting controls at Gold Fields Limited – Chimney Creek Mine and Asarco, Inc.

Aldridge Minerals Inc. (TSX-V: AGM) announced that its CFO, Ed Badida, will be leaving the Company and will remain available to assist the Company with its transition to a new CFO. Carmelo Marrelli has been appointed the Company's interim CFO. Mr. Marrelli is the President of Marrelli Support Services Inc., which Aldridge retained in January to provide ongoing bookkeeping and accounting services.

MGold Resources Inc. (TSX-V: MNI) appointed Marc R. Poitras as Chief Financial Officer and a Director of the Company. Mr. Poitras is currently the Managing Partner at Poitras & Poitras Professional Corporation, Chartered Accountants, located in Sudbury, Ontario. Mr. Poitras has been owner/manager of a public accounting practice since 1993. Mr. Poitras replaces Douglas Reeson who has been active with the Company since 1993 and has acted as the Chief Financial Officer for the past several years. Mr. Reeson will remain as a Director of the Company.

Resinco Capital Partners Inc. (TSX: RIN, FRANKFURT:L6V) announced that David McAdam has joined Resinco as Chief Financial Officer, replacing Jon Lever. Mr. McAdam has held various senior financial and operational positions ranging from CFO of start-up companies listed on the TSX Venture Exchange through to VP Operations and Finance Director of a Fortune 150 company based in Houston, Texas.

Electric Metals Inc. (TSX-V: EMI) announced the resignation of Donald Currie as Acting President of the Company. Tony Ricci, formerly Chief Financial Officer has now been appointed President and CEO of the Company. The Company is pleased to appoint Zula Kropivnitski to the position of Chief Financial Officer. Prior to joining Electric Metals Inc., Ms. Kropivnitski acted as the Controller to Sacre-Coeur Minerals and African Queen Mines Ltd, companies involved in exploration and production activities in Africa and South America. Before that, Ms. Kropivnitski served as Senior Accountant to Manex Resource Group and its group of mining exploration companies with interests in properties in Canada, the United States and Mexico.

Grizzly Discoveries Inc. (TSX-V: GZD, OTCQX: GZDIF, FRANKFURT:G6H) announced the appointment of Jeremy Strautman as the Interim Chief Financial Officer ("CFO") of the Corporation following the resignation of Sean Mager. Mr. Mager will stay on as a director of the Corporation. Mr. Strautman is a managing partner and Operations Manager of Myriad Corporate Services, which provides accounting and administrative support to several public and private companies, specializing in the junior mineral exploration industry, since January 2010. Prior to 2010, Mr. Strautman was an employee of an unrelated junior mineral exploration company since 2005 where he also provided services to Grizzly on an excess capacity basis since 2006. Mr. Strautman is also the Chief Financial Officer of Altiplano Minerals Ltd., a TSXV-listed junior mineral exploration company.

Novadx Ventures Corp. (TSX-V: NDX) announced that its wholly-owned subsidiary, MCoal Corporation has appointed Gregory Saragas as Vice President, Finance. Mr. Saragas joins MCoal from Nystar Americas, a global multi-metals company, with zinc mining and smelting operations in Tennessee. Prior to joining Nyrstar, Mr. Saragas held the positions of Regional Accounting Officer with Massey Energy, the largest coal producer in Central Appalachia and Chief Financial Officer of Debra Lynn Coals, Inc.

Sino Vanadium Inc. (TSX-V: SVX) announced that Harvey McKenzie, the Chief Financial Officer of the company, has tendered his resignation. The company has appointed Wingfield Ding as the company's new Chief Financial Officer. Mr. Ding has years of experience in auditing Asian and North American companies, and has served as CFO for public companies in Canada and corporations with operations in China.

Toronto Community Housing announced that Len Koroneos will serve as Toronto Community Housing's interim Chief Executive Officer. Mr. Koroneos will perform the role on an interim basis until the company's new board of directors completes the search for a permanent chief executive officer later this year. Mr. Koroneos joined the company in September 2010 as Chief Financial Officer. He will continue to oversee the duties of the Chief Financial Officer together with the current management staff. Prior to joining Toronto Community Housing, Mr. Koroneos spent 22 years with a major health care services corporation operating in Canada and the United States, where he held senior management positions of vice-president taxation, treasurer, and vice president business development. He gained extensive experience in taxation, accounting, auditing and finance while working for KPMG, an international accounting firm.

Priszm Income Fund (TSX: QSR.UN) and its affiliates (collectively "Priszm" or the "Company") announced today that, in order to facilitate the sale of its restaurants, it has applied for and successfully obtained an Order from the Ontario Superior Court of Justice (Commercial Division) under the Companies' Creditors Arrangement Act ("CCAA"). As part of the Restructuring, the duties of the Chief Restructuring Officer will be executed by Deborah Papernick, the current chief financial officer of the Company.

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

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

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Business is my Sports, and I am a Talent Scout

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

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

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

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

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

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

Yes, we get paid big bucks for this.

Do you know why? We're worth it!

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

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

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

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

Ridgement Iron Ore Corp. (TSX-V: RDG) announced the appointment of Anna Ladd as Chief Financial Officer, replacing Sonya Atwal. Ms. Ladd is an experienced financial professional with a wide array of experience in the mining industry. Ms. Ladd is currently the Chief Financial Officer of Logan Resources Ltd. and the former Chief Financial Officer of Sulliden Gold Corporation and Crowflight Minerals Inc. She has also held senior positions with various mining companies, including Kinross Gold Corporation and has worked in Thompson and Sudbury operations for Vale Inco. 

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

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

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

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

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

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

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

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

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

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

How much is a CFO really worth?

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

Common question I get from CFOs are:

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

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

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

So what is a CFO really worth?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Companies with CFOs on the Move this week include: Abacus Mining & Exploration Corporation, Mountainview Energy Ltd., Liquidation World Inc., Adira Energy Ltd., Petro-Reef Resources Ltd., Hart Stores Inc., AutoCanada Inc., Conway Resources Inc., Cogitore Resources Inc., Central Alberta Well Services Corp., TransAtlantic Petroleum Ltd., Argentex Mining Corporation, Integra Gold Corp.

Abacus Mining & Exploration Corporation (TSX-V: AME) announced the appointment of Ian M. MacNeily as Executive Vice President and Chief Financial Officer. Mr. MacNeily will be responsible for the financial operations and management of Abacus and the KGHM Ajax joint venture. He takes over from Paddy Nicol, who has been with Abacus since 1995 serving as a director from 1999 to 2009 and as its CFO since 2003.

Mountainview Energy Ltd. (TSX-V: MVW) announced the appointment of Angelique Hatch as the Company's Chief Financial Officer. Ms. Hatch has been the Accounting Consultant for Mountainview Energy Ltd for the past 5 years, working with the Company and the Company's Auditors, PricewaterhouseCoopers, LLP to formulate and timely fulfill the Company's financial filing obligations. Ms. Hatch also has a broad range of accounting experience through other sectors including construction, technology, corporate tax and owner managed companies.

Liquidation World Inc. (TSX: LQW) announced that David Becker has been appointed interim Chief Financial Officer of the Company. Mr. Becker will continue to serve on the Board of Directors; however, he will be relinquishing his role as Chair of the Company's Audit Committee. This changes the positions of both Mr. Becker as well as Chris Rath, the Company's current Chief Financial Officer. Mr. Rath will transition from this role into a contract consulting role with the Company effective immediately. Mr. Becker previously held the positions of Chief Financial Officer at both Middlebrook Pharmaceuticals Inc. and at Adams Respiratory Therapeutics Inc., both NASDAQ listed companies located in the United States.

Adira Energy Ltd. (TSX-V: ADL, OTCBB: ADENF, FRANKFURT: AORLB8) announced that Gadi Levin, the CFO of the Company's four Israeli operating subsidiaries, has been appointed Chief Financial Officer of the Company. The Company's current CFO, Mr. Alan Rootenberg, will continue to assist the Company on a consulting basis.

Petro-Reef Resources Ltd. (TSX-V: PER) announced that John Pantazopoulos has resigned as Vice President, Finance and Chief Financial Officer to pursue other career opportunities. He will assist the Corporation in the transition to a new CFO and will remain as a Director of the Corporation.

Hart Stores Inc. (TSX: HIS) announced that Jacques Plante has resigned as the company's Vice President and Chief Financial Officer.

AutoCanada Inc. (TSX: ACQ) announced the appointments of Tom Orysiuk as President and Jeff Christie as Vice-President Finance. Mr. Orysiuk was previously the Executive Vice-President and Chief Financial Officer at AutoCanada and has been with the Company since November of 2005 and prior thereto held a number of senior executive roles. Mr. Christie was previously the Manager, Financial Reporting at AutoCanada and has been with the Company since August of 2008.

Conway Resources Inc. (TSX-V: CWY) announced the appointment of Francois Kalos as Chief Financial Officer of the Company. Mr. Kalos is presently a member of the Board of Directors of Conway. He is presently President and Founder of SOLAK Communications, a financial communication and investor relations firm. During his career, he has worked for communication firms, mining exploration companies and the Montreal Stock Exchange.

Cogitore Resources Inc. (TSX V: WOO) announced that Carmelo Marrelli has been appointed as Chief Financial Officer of the Company. Orest Zajcew has resigned as Chief Financial Officer to focus on other activities. Mr. Marrelli is currently President of Marrelli Support Services, a bookkeeping firm based in Toronto, Ontario.

Central Alberta Well Services Corp. (TSX-V: CWC) announced the appointment Kevin Howell as Chief Financial Officer. Prior to his appointment with CWC, Mr. Howell served as Chief Financial Officer over the last 5 years for Brews Supply Ltd. and IROC Energy Services Corp. Previously, Mr. Howell was the Financial Reporting Manager for Wellco Energy Services Trust and Corporate Controller for Jager Building Systems Inc. Mr. Howell also spent over 5 years with KPMG.

TransAtlantic Petroleum Ltd. (TSX: TNP, AMEX: TAT) announced that Hilda D. Kouvelis will resign from her position as Vice President and Chief Financial Officer of the Company for personal reasons and in pursuit of other interests. Ms. Kouvelis' resignation will be effective immediately after the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2010. Ms Kouvelis will continue to serve the Company during an unspecified transition period thereafter.

Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) announced the appointment of Jeff Finkelstein as Chief Financial Officer and Treasurer, replacing Valerie Helsing. His background includes senior management positions with junior and senior listed companies, including Silver Standard Resources and Sierra Geothermal Power.

Integra Gold Corp. (TSX-V: ICG) appointed Norman J.R. MacKinnon as CFO. From 1972 to present, Mr. MacKinnon served as a director, primarily in a financial advisory or audit committee role, on the boards of numerous VSE, TSE, TSX Venture and NASDAQ public corporations. He was senior partner in the accounting firm MacKinnon, Sapera, Lewis & McDonald from 1972 to 1984, which specialized in taxation matters and general accounting. Between 1982 and 1984, he served as CFO of Century II Productions Inc., the first Canadian syndicated variety program to be syndicated in the US and successful in television tax shelters. In 1984 he became the sole practitioner of the Chartered Accounting firm, NJR MacKinnon, specializing in tax planning, CFO positions and controllership of emerging public companies.

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 ended November 19, 2010

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

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

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

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

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

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

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


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

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

Canadian CFOs on the Move – week 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.

CFOs: The Question you must ask your recruiter

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

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

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

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

Retained is for Leaders in Strategic Roles.

Contingent is for Functional Roles.

Do you consider your role to be strategic or functional?

Are you a Leader?