From the March 2011 issue of Treasury & Risk magazine

Financial Executives: Keeping Track


Wells Fargo, the San Francisco-based bank with $1.3 trillion in assets and $131 billion in 2009 revenue, named Timothy Sloan CFO. He succeeds Howard Atkins, the bank's CFO since 2001, who is taking a leave of absence and will retire in August. Sloan, 50, most recently was Wells' chief administrative officer and senior executive vice president. Earlier, he served as head of commercial banking, real estate and specialized financial services, overseeing more than 25 lines of business. Sloan has worked at the bank for 23 years.

Boeing Co., the $68 billion aerospace and defense contractor, named Robert Verbeck CFO of its $34 billion Boeing Defense, Space & Security division. He replaces Randy Simmons, who is retiring. Verbeck, 51, most recently was CFO for Boeing's military aircraft business unit. Earlier, he served as controller of the Defense, Space and Security division and program manager for its U.K. tanker program. Verbeck joined Boeing in 1986 when it acquired McDonnell Douglas. He began his career as a steelworker.

Bunge, the $42 billion oil products and processing company in White Plains, N.Y., named Andrew Burke CFO. He had served as interim CFO since Jacqualyn Fouse left in September to become CFO at Celgene. Burke, 55, will retain the title of global operational excellence officer, a role he has performed since July 2010. Earlier, he was co-CEO of Bunge's global agribusiness and product lines, after joining the company in 2002 as managing director of soy ingredients and new business development.

Xerox, the $22 billion document management company in Norwalk, Conn., named Luca Maestri CFO and executive vice president. He replaces Lawrence Zimmerman, who is retiring. Maestri, 47, had been CFO of Nokia Siemens Networks since 2008. Prior to joining Nokia, he spent 20 years at General Motors, where he served as CFO of both GM Europe and GM Brazil and as executive-in-charge of the Fiat Alliance for GM in Switzerland. Earlier, Maestri worked in finance positions for GM in Europe and the Asia-Pacific region.

J.C. Penney Co., the $17 billion department store chain based in Plano, Texas, named Michael Dastugue CFO and executive vice president. He succeeds Robert Cavanaugh, who is retiring next year. Dastugue, 46, had been the company's senior vice president of finance since February 2010. From 2005 to 2010, he was senior vice president and director of property development, handling new stores and renovations. Dastugue has worked in finance positions, including a stint as treasurer, since joining J.C. Penney in 1991.

Constellation Energy Group, a $15 billion energy company, named Jennifer Lowry treasurer and vice president. She replaces Reese Feuerman, who was named vice president of operational finance. Lowry, 42, joined the company in 2008 as assistant treasurer after working at Cogentrix and AES. Constellation named Carim Khouzami CFO and treasurer of its Baltimore Gas and Electric unit. Khouzami, 36, formerly director of investor relations, replaces Kevin Hadlock, who left to become CFO of Questar.

Sara Lee, the $11 billion consumer goods company, appointed Mark Garvey CFO, making permanent the job he had been performing on an interim basis since May 2010. He succeeds Marcel Smits, who was promoted to CEO. Garvey, 46, previously was Illinois-based Sara Lee's senior vice president of global business services. He served as CFO of Sara Lee International from 2006 to 2008 and of the company's North American businesses from 2008 to 2009. Garvey has also served as corporate controller.

SLM Corp., better known as Sallie Mae, the student loan company with $235 billion in loans, promoted Jonathan Clark to CFO and executive vice president. He replaces John Remondi, who was named president and COO. Clark, 52, was formerly the company's treasurer and executive vice president. He joined Sallie Mae as senior vice president of corporate finance in 2008 from Credit Suisse, where he worked on student loan financing. Earlier, Clark worked at Prudential Securities and First Boston.

Con-way, a $4.3 billion freight transportation and logistics company in San Mateo, Calif., named Michael Morris treasurer and senior vice president. He succeeds Mark Thickpenny, who retired last fall. Morris, 42, is joining Con-way from semiconductor company Kulicke and Soffa Industries, where he had been CFO since 2009. Earlier, he served as Kulicke and Soffa's treasurer, was assistant treasurer at Constellation Energy Group and worked in various positions in the treasurer's office at General Motors.

Regis Corp., a $2.4 billion operator of hair salons based in Edina, Minn., named Brent Moen CFO and senior vice president. He succeeds Randy Pearce, who was promoted to president. Moen, 43, had been the company's controller and vice president since 2006. He joined Regis in 2000 as director of finance and was appointed vice president of finance in 2002. Prior to joining Regis, Moen worked at Carlson Cos. and GlaxoSmithKline and was an accountant at PricewaterhouseCoopers.

Bob Evans Farms, the $1.7 billion restaurant operator and sausage maker in Columbus, Ohio, named Paul DeSantis CFO, treasurer and assistant corporate secretary. The company's chief risk and compliance officer, Richard Green, had served as interim CFO since Tod Spornhauer left in January. DeSantis, 46, had been CFO and treasurer at A. Schulman since 2006. Earlier, he was corporate treasurer at Scotts Miracle-Gro and worked in finance at Kellogg and as a financial analyst at GMAC.

Sunrise Senior Living, a $1.5 billion operator of assisted-living and nursing homes, named Marc Richards CFO. He replaces Julie Pangelinan, who is leaving the McLean, Va.-based company. Richards will retain his current title of chief accounting officer. Before joining Sunrise in 2009, Richards, 39, served as a vice president at JE Robert Cos. and as controller for JER Investors Trust, the company's REIT unit. Earlier, he was controller of Republic Property Trust, an operator of commercial office buildings.

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