Xebec Adsorption Inc. (TSX: XBC) has announced their hire of Ginette Gagne as CFO, effective April 8, 2010. Ms. Gagne most recently held the position of CFO at CryoCath Technologies, a publicly-traded, Montreal-based company which was recently acquired by a multinational medical technology company.
Glentel Inc. (TSX: GLN) announced the retirement of Dale Belsher, CFO of the Company, effective June 30, 2010. Mr. Belsher will transition his duties to Jas Boparai, previously Director of Finance, who has been appointed CFO effective June 30, 2010.
TransGlobe Internet & Telecom Co. Ltd. (TSX-V: TTI) announced the appointment of Mr. Soon Kim, CA, as interim CFO.
Copper Reef Mining Corporation (CNSX: CZC) has appointed David Kendal at the Company’s CFO, replacing Bill Jackson, who will be retained as assistant secretary of the Company.
C.A. Bancorp (TSX: BKP) announced that Paolo De Luca has left his position as CFO of the company, and has been replaced by Paul Haggis, a director of the Company, as interim CFO.
Dalmac Energy Inc. (TSX-V: DAL) has promoted John Beasley from Finance Manager to CFO, taking over the CFO role from John Babic, the President and CEO.
Bellhaven Copper & Gold Inc. (TSX-V: BHV) announced the hiring of Ms. Maria Milagros Paredes to the position of Chief Financial Officer of the Corporation.
CRS Electronics Inc (TSX-V: LED) has appointed Paul Haber as interim CFO, replacing Colin Digout, who has resigned as CFO. Mr. Haber was previously Chair of the Audit Committee of the Corporation.
If you have news about CFO’s on the move, or any comments on this feature, please email us.
Tuesday, May 25, 2010
Sunday, May 16, 2010
Canadian CFO’s on the Move – May 17, 2010
The Financial Statement is proud to offer our new weekly feature – Canadian CFO’s on the move.
May 14, 2010 – Terraco Gold Corp. (TSX-V: TEN) has announced a change in CFO – Bryant McKenzie replaces Rajwant Kang as CFO of the Corporation.
May 13, 2010 – Platinum Communications Corporation (TSX-V: PCS) announced their appointment of Katherine M. Kirkup as CFO
May 11, 2010 – Century Energy Ltd. (TSX-V: CEY) announced that Douglas Baker has been appointed Chief Financial Officer. Mr. Baker replaces Jane Costello as CFO.
May 10, 2010 – Athabasca Minerals Corporation (TSX-V: ABM) has announced that the CFO of the corporation, Kevin Spitzmacher, has resigned as the Chief Financial Officer. In the interim, the President and CEO of the corporation, Udomdej Kriangkum, will act as interim CFO until a suitable replacement is appointed.
May 6, 2010 – Cryptologic Limited (TSX: CRY) announced the appointment of Huw Spiers as Chief Financial Officer of the Corporation, effective August 15, 2010. Mr. Spiers will succeed Stephen Taylor as CFO.
If you have news about CFO’s on the move, or any comments on this feature, please email us.
May 14, 2010 – Terraco Gold Corp. (TSX-V: TEN) has announced a change in CFO – Bryant McKenzie replaces Rajwant Kang as CFO of the Corporation.
May 13, 2010 – Platinum Communications Corporation (TSX-V: PCS) announced their appointment of Katherine M. Kirkup as CFO
May 11, 2010 – Century Energy Ltd. (TSX-V: CEY) announced that Douglas Baker has been appointed Chief Financial Officer. Mr. Baker replaces Jane Costello as CFO.
May 10, 2010 – Athabasca Minerals Corporation (TSX-V: ABM) has announced that the CFO of the corporation, Kevin Spitzmacher, has resigned as the Chief Financial Officer. In the interim, the President and CEO of the corporation, Udomdej Kriangkum, will act as interim CFO until a suitable replacement is appointed.
May 6, 2010 – Cryptologic Limited (TSX: CRY) announced the appointment of Huw Spiers as Chief Financial Officer of the Corporation, effective August 15, 2010. Mr. Spiers will succeed Stephen Taylor as CFO.
If you have news about CFO’s on the move, or any comments on this feature, please email us.
Thursday, April 15, 2010
Pearl of Wisdom: It's so simple.
One of the things I truly enjoy about what i do is that I meet with intelligent, capable, and personable people. Daily.
Yesterday I interviewed an experienced financial professional that was coming off a difficult mandate with a company that was going through a restructuring. He said:
"It's so simple. When a company's financial systems don't work, it is hard to see where the problems are. And once you clean it up, it is usually too late.
In all my experience, I have never seen a company in financial difficulty that had the information they needed to make good business decisions."
Lessons Learned:
- Implement a financial system properly, the first time.
- If you have problems with your financial system, fix them before it's too late.
It really is so simple.
Yesterday I interviewed an experienced financial professional that was coming off a difficult mandate with a company that was going through a restructuring. He said:
"It's so simple. When a company's financial systems don't work, it is hard to see where the problems are. And once you clean it up, it is usually too late.
In all my experience, I have never seen a company in financial difficulty that had the information they needed to make good business decisions."
Lessons Learned:
- Implement a financial system properly, the first time.
- If you have problems with your financial system, fix them before it's too late.
It really is so simple.
Friday, March 5, 2010
For all you Federal Budget Junkies (2010 version)
Here is a list of Budget updates I received this morning.
I'm going to take the weekend to look at them (they help me sleep), but there may be gold in here... Happy Budget reading.
Fuller Landau
McCarthy Tetrault
RSM Richter Chamberland
Osler, Hoskin & Harcourt
Ernst & Young
If you have others you would like to add to the list, let me know.
Happy Reading.
I'm going to take the weekend to look at them (they help me sleep), but there may be gold in here... Happy Budget reading.
Fuller Landau
McCarthy Tetrault
RSM Richter Chamberland
Osler, Hoskin & Harcourt
Ernst & Young
If you have others you would like to add to the list, let me know.
Happy Reading.
Monday, February 1, 2010
Recruiters: Should your connections be viewable?
Recruiters: Should your connections be viewable? - http://bit.ly/ac54dD
Follow this link for an intersting discussion on LinkedIn about whether recruiters should allow others to see their connections.
Follow this link for an intersting discussion on LinkedIn about whether recruiters should allow others to see their connections.
Wednesday, January 6, 2010
Growing Businesses and the Accounting Function
A Visionary Entrepreneur has the talent to build an amazing business from scratch, while overcoming multiple obstacles along the way. Many visionaries do not give enough attention to the accounting function as they grow their business into a successful enterprise.
A small business as it grows needs to ensure that it manages its cash - accrual accounting and month end closes are not critical - focusing on building your business is.
As a small business becomes a big business, it is time to stop treating the accounting function as a necessary evil or as a means to an end, but as a critical and crucial part of your business.
Successful businesses need accurate and timely information from their accounting department that will allow them to make appropriate and profitable business decisions. Receiving incomplete and possibly inaccurate accounting information 45 days after month-end does not benefit the business.
As companies grow, they classically underhire in their accounting department. Thinking that they are saving money, they are delaying the inevitable.
Process. Procedures. Controls.
Companies that have not focused on these three words while they were growing had better start. These three words are the basis of accounting for larger companies. These three words will provide managers and owners with accurate, reliable and relevant information to be able to make appropriate, timely and profitable decisions.
If you find yourself in the situation as I described, do not despair. Your accounting department can deliver. You need to you put in place a plan to quickly to remedy the current situation.
How?
While many companies believe that hiring people to fix an accounting department is the right approach, it may not be the first step to take.
From my experience, when a company needs to fix its accounting department, the first step to take is to bring in a team of accounting consultants to put in process, procedures and controls. This can be very effective in ensuring the growth of their company. Companies that fix this problem first, and then hire the right people for their department, are in a much better situation.
The challenge of being a Visionary continues as your business grows. Building an effective and efficient accounting department will allow you to have the information necessary to continue being that successful Visionary.
Monday, January 4, 2010
Founderitis
foun-der-i-tis [fown-der-eye-tis]
- noun
an entrepreneur that has grown a business from startup, facing insurmountable odds, that cannot understand that the world has changed around him and that he needs to face up to the reality that if things don't change, the business will die.
Last week I interviewed an executive that is currently looking for a new opportunity. Since he left his previous employer, he has been subject to a number of consulting mandates where the businesses were paralyzed by founderitis. I thank him for sharing this term with me.
Is there a cure for founderitis?
In many cases, the cure requires a founder to realize that they have founderitis. Most often with founderitis, the disease will not let them realize that they have it.
This is because most founders believe that they can fix their business problems. They've fixed problems before - They can fix them again. They feel that outsiders don't know their business like they do, so they cannot really help.
A major symptom of founderitis is the need to be in control. For many entrepreneurs, their business defines them to such a great extent that they cannot believe (or do not want to believe) that their business can do better without their omnipotent control.
So, they live their lives trying to own 100% of a pond (or puddle) as opposed to a lesser but significant portion of a lake (or an ocean).
There is a cure - it requires going through the realization that others may be able to help them achieve their goals. It also requires building a team of management and advisors, or even a board of advisors, to be able to see clearly and come up with a strategy to continue to grow and thrive.
Most successful long-term entrepreneurs have surrounded themselves with management and advisors to allow them to achieve the success they have worked so hard for.
- noun
an entrepreneur that has grown a business from startup, facing insurmountable odds, that cannot understand that the world has changed around him and that he needs to face up to the reality that if things don't change, the business will die.
Last week I interviewed an executive that is currently looking for a new opportunity. Since he left his previous employer, he has been subject to a number of consulting mandates where the businesses were paralyzed by founderitis. I thank him for sharing this term with me.
Is there a cure for founderitis?
In many cases, the cure requires a founder to realize that they have founderitis. Most often with founderitis, the disease will not let them realize that they have it.
This is because most founders believe that they can fix their business problems. They've fixed problems before - They can fix them again. They feel that outsiders don't know their business like they do, so they cannot really help.
A major symptom of founderitis is the need to be in control. For many entrepreneurs, their business defines them to such a great extent that they cannot believe (or do not want to believe) that their business can do better without their omnipotent control.
So, they live their lives trying to own 100% of a pond (or puddle) as opposed to a lesser but significant portion of a lake (or an ocean).
There is a cure - it requires going through the realization that others may be able to help them achieve their goals. It also requires building a team of management and advisors, or even a board of advisors, to be able to see clearly and come up with a strategy to continue to grow and thrive.
Most successful long-term entrepreneurs have surrounded themselves with management and advisors to allow them to achieve the success they have worked so hard for.
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