From the December-January 2010 issue of Treasury & Risk magazine


CVS Caremark, the $87.4 billion drugstore chain and pharmacy benefit management company, appointed David Denton CFO and executive vice president. He replaces David Rickard, who is retiring. Denton, 44, most recently served as Woonsocket, R.I.-based CVS' controller, chief accounting officer and senior vice president. Since joining CVS in 1999, he has also served in senior finance positions at the company and a subsidiary, PharmaCare. Earlier, Denton was a consultant at Deloitte & Touche.

Microsoft, the $58.4 billion software company, promoted Peter Klein to CFO. He succeeds Chris Liddell, Microsoft's finance chief since 2005, who is leaving to broaden his career beyond serving as a CFO. Klein, 47, most recently was CFO of the Redmond, Wash.-based company's $18.9 billion business division and earlier served as CFO of its server and tools unit. Before joining Microsoft in 2002, he worked in finance at McCaw Cellular, at a private equity firm, Orca Bay Capital, and at several start-ups.

Walt Disney Co., the Burbank, Calif.-based entertainment and media company with $37.8 billion in 2008 revenue, appointed Jay Rasulo CFO and senior executive vice president. He is trading jobs with Thomas Staggs, Disney's CFO since 1998, who becomes chairman of Walt Disney Parks and Resorts. Rasulo, 53, who has worked at Disney for 23 years, became president of the parks and resorts unit in 2002 and its chairman in 2005. Earlier, he was chairman and CEO of Euro Disney in France.

Motorola, the $30.1 billion manufacturer of cell phones and wireless network infrastructure, appointed Edward Fitzpatrick CFO, its acting CFO since February 2009, when Schaumberg, Ill.-based Motorola fired its previous CFO, Paul Liska; Liska has sued the company for wrongful termination. Fitzpatrick, 43, was named Motorola's controller in January 2009. He joined Motorola in 2000 when it acquired General Instrument, where he was assistant corporate controller. Earlier, Fitzpatrick worked at Price Waterhouse.

Prudential Financial, the $29.2 billion insurance and investment management company, named Robert Falzon treasurer and John Fleurant controller. Falzon, 40, succeeds Bernard Jacob, who was named CFO of the Newark, N.J.-based company's U.S. businesses. Falzon most recently was head of global merchant banking and CEO of Prudential Real Estate Investors. Fleurant, 47, replaces Peter Sayre, who remains the company's principal accountant. Fleurant most recently was CFO of Prudential's U.S. businesses.

KBR, the Houston-based engineering and construction company with $11.6 billion of 2008 revenue, hired Susan Carter as CFO and senior vice president. She replaces Kevin DeNicola, who is retiring after joining KBR as CFO in June 2008. Carter, 51, was CFO and executive vice president at Lennox International from 2004 to June 2009. Her 28 years of finance and accounting experience also include serving as vice president of finance and chief accounting officer at Cummins and working in finance at Honeywell.


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