Content about CFO

August 21, 2014

Rent-to-own chain Aaron's, Inc. has named its current CFO Gilbert L. Danielson to the position of interim chief executive officer, following the retirement of current CEO Ronald W. Allen on Aug. 31.

Atlanta -- Rent-to-own chain Aaron's, Inc. has named its current CFO Gilbert L. Danielson to the position of interim chief executive officer, following the retirement of current CEO Ronald W. Allen on Aug. 31.

Danielson will also retain his CFO responsibilities during the interim period and will not be a candidate for the permanent CEO role, said the company. A formal search, led by Spencer Stuart, is underway and includes a review of both internal and external candidates.
 

 

August 21, 2014

Outdoor gear and apparel retailer REI has promoted Eric Artz, CFO, the additional role COO), and Susan Viscon, VP merchandising, to senior VP merchandising.

Seattle -- Outdoor gear and apparel retailer REI has promoted Eric Artz, CFO, the additional role COO), and Susan Viscon, VP merchandising, to senior VP merchandising.

August 14, 2014

Paula A. Price, senior lecturer at Harvard Business School and former CFO of Ahold USA, has been named to the Dollar General board of directors effective Aug. 26.

Goodlettsville, Tenn. - Paula A. Price, senior lecturer at Harvard Business School and former CFO of Ahold USA, has been named to the Dollar General board of directors effective Aug. 26. The election of Price to Dollar General’s board will bring the total number of directors to eight.

August 4, 2014

Panera Bread Company announced that Roger Matthews, executive VP and CFO, has resigned his position to pursue other opportunities.

St. Louis -- Panera Bread Company announced that Roger Matthews, executive VP and CFO, has resigned his position to pursue other opportunities.

Effective Aug. 6, Bill Moreton, executive vice chairman of Panera Bread, will serve as interim CFO as the company conducts a search for a full-time replacement. Moreton has previously held the positions of CEO, co-chief executive officer and CFO of Panera Bread. Matthews will transition his remaining duties through the end of August.

August 4, 2014

Walgreens on Monday named Timothy McLevish as Walgreens executive VP and CFO, effective immediately.

Deerfield, Ill. — Walgreens on Monday named Timothy McLevish as Walgreens executive VP and CFO, effective immediately. He will lead all of Walgreens' finance functions as the company prepares to move forward with the proposed second step of its strategic partnership with Alliance Boots.
 

August 1, 2014

Christopher & Banks Corporation announced that Peter G. Michielutti has been promoted to executive VP, COO and CFO, effective immediately.

Minneapolis -- Christopher & Banks Corporation announced that Peter G. Michielutti has been promoted to executive VP, COO and CFO, effective immediately.

Michielutti was previously senior VP and CFO, having joined the company in April 2012.

July 25, 2014

The board of directors of Roundy’s Inc. has named Michael Turzenski, currently Roundy’s group VP and chief accounting officer, as group VP, CFO.

Milwaukee – The board of directors of Roundy’s Inc. has named Michael Turzenski, currently Roundy’s group VP and chief accounting officer, as group VP, CFO. Turzenski replaces Darren Karst, who is leaving the company to become CFO of Rite Aid Corp. as of Aug. 10.

Turzenski has served in his current role since February 2012. Turzenski joined Roundy’s in 2007 as VP, controller.

 

July 25, 2014

The board of directors of Roundy’s Inc. has named Michael Turzenski, currently Roundy’s group VP and chief accounting officer, as group VP, CFO.

Milwaukee – The board of directors of Roundy’s Inc. has named Michael Turzenski, currently Roundy’s group VP and chief accounting officer, as group VP, CFO. Turzenski replaces Darren Karst, who is leaving the company to become CFO of Rite Aid Corp. as of Aug. 10.

Turzenski has served in his current role since February 2012. Turzenski joined Roundy’s in 2007 as VP, controller.

 

July 24, 2014

Rite Aid Corporation announced that Darren Karst is joining Rite Aid as executive VP and CFO, effective Aug. 20.

Camp Hill, Pa. -- Rite Aid Corporation announced that Darren Karst is joining Rite Aid as executive VP and CFO, effective Aug. 20.

Karst succeeds Frank Vitrano, who has announced he will retire in September, 2015. Until then, Vitrano retains the chief administrative officer responsibilities for the company’s information technology, real estate and indirect procurement functions. He will also serve as a key resource in the development and execution of new business and growth initiatives.

July 21, 2014

Dirk Montgomery, executive VP and CFO of Ascena Retail Group Inc. since January 2013, has accepted a position with a healthcare-related company based in Florida.

Mahwah, N.J. - Dirk Montgomery, executive VP and CFO of Ascena Retail Group Inc. since January 2013, has accepted a position with a healthcare-related company based in Florida. Ascena has initiated a search process for a new CFO.

Montgomery has agreed to remain through the end of the summer. Randy Pearce, a member of Ascena’s board of directors, chair of the Audit Committee, and former CFO of Regis Corp. from 1998 to 2011, will increase his involvement in overseeing the company’s finance department during the transition.

July 1, 2014

Signet Jewelers Ltd. on Tuesday announced that Theo Killion, CEO and president of its newly acquired Zale division, has resigned, effective July 31.

Hamilton, Bermuda -- Signet Jewelers Ltd. on Tuesday announced that Theo Killion, CEO and president of its newly acquired Zale division, has resigned, effective July 31.

Killion had been tapped to lead Zale as a separate division within the company, Signet said when the deal closed in late May. George Murray, Signet's current chief integration management officer, has been promoted to president of the Zale division and will succeed Killion upon his departure.

July 1, 2014

Chain Store Age recently spoke with Alison Paul, vice chairman, Deloitte LLP and retail and distribution leader, about the expanding role of the CFO in retail organizations:

Chain Store Age recently spoke with Alison Paul, vice chairman, Deloitte LLP and retail and distribution leader, about the expanding role of the CFO in retail organizations:

How has the role of the CFO in retail organizations changed?

June 30, 2014

Tile Shop Holdings announced the appointment of Kirk Geadelmann as its new CFO.

Minneapolis -- Tile Shop Holdings announced the appointment of Kirk Geadelmann as its new CFO.

He will transition into the role on August 12, 2014, succeeding CFO Timothy C. Clayton, who has resigned his position to accept an executive position with another company. Clayton will remain with the Tile Shop until mid-August to ensure a smooth transition of responsibilities.

Prior to joining Tile Shop, Geadelmann worked for 14 years at Best Buy, most recently serving as the corporate and international controller.

 

June 27, 2014

Chico's FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

Fort Myers, Fla. -- Chico's FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

Prior to his appointment as CFO, Vogensen had been the Chico’s senior VP finance. He has served Chico's in numerous roles over the past five years. Previously, Vogensen held multiple positions of increasing scope and responsibility with Michaels Stores.

 

June 27, 2014

Chico's FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

Fort Myers, Fla. -- Chico's FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

Prior to his appointment as CFO, Vogensen had been the Chico’s senior VP finance. He has served Chico's in numerous roles over the past five years. Previously, Vogensen held multiple positions of increasing scope and responsibility with Michaels Stores.

 

June 24, 2014

More strategic. That’s how Greg Esgar, CFO of Massage Envy Spa, the nation’s largest therapeutic massage chain, sums up the evolving role of today’s CFO. Esgar joined the Scottsdale, Arizona-based business as financial chief in 2004, two years after it was founded. As part of the executive team, he helped spur the company’s growth from 17 locations to its present total of nearly 1,000 sites in 49 states. With its membership-based, monthly-fee business model, Massage Envy Spa eschews the luxury amenities and high prices of traditional day spas.

June 24, 2014

More strategic. That’s how Greg Esgar, CFO of Massage Envy Spa, the nation’s largest therapeutic massage chain, sums up the evolving role of today’s CFO. Esgar joined the Scottsdale, Arizona-based business as financial chief in 2004, two years after it was founded. As part of the executive team, he helped spur the company’s growth from 17 locations to its present total of nearly 1,000 sites in 49 states. With its membership-based, monthly-fee business model, Massage Envy Spa eschews the luxury amenities and high prices of traditional day spas.

June 24, 2014

Simon Property Group has announced that Andrew Juster, a 25-year Simon veteran, will move up to the post of CFO in early 2015, succeeding retiring CFO Stephen E. Sterrett.

Indianapolis — Simon Property Group has announced that Andrew Juster, a 25-year Simon veteran, will move up to the post of CFO in early 2015, succeeding retiring CFO Stephen E. Sterrett. Juster has served as Simon’s treasurer since 2000, managing the company’s capital market activities, implementing its corporate financing strategy, maintaining banking and lending relationships, leading the treasury function and managing Simon’s relationships with rating agencies.

June 24, 2014

Simon Property Group has announced that Andrew Juster, a 25-year Simon veteran, will move up to the post of CFO in early 2015, succeeding retiring CFO Stephen E. Sterrett.

Indianapolis — Simon Property Group has announced that Andrew Juster, a 25-year Simon veteran, will move up to the post of CFO in early 2015, succeeding retiring CFO Stephen E. Sterrett. Juster has served as Simon’s treasurer since 2000, managing the company’s capital market activities, implementing its corporate financing strategy, maintaining banking and lending relationships, leading the treasury function and managing Simon’s relationships with rating agencies.

June 24, 2014

As the key cog in the wheel of a retail chain’s financial structure, today’s retail CFOs find themselves caught in the crosshairs of senior management and stakeholders demanding maximum profit and measurable growth amid increased consolidation and tightened revenues.

But that’s nothing new. Financial chiefs have always had to balance profit and loss with expansion strategies. What has changed is that a whole host of added responsibilities has now entered the mix.

June 24, 2014

As the key cog in the wheel of a retail chain’s financial structure, today’s retail CFOs find themselves caught in the crosshairs of senior management and stakeholders demanding maximum profit and measurable growth amid increased consolidation and tightened revenues.

But that’s nothing new. Financial chiefs have always had to balance profit and loss with expansion strategies. What has changed is that a whole host of added responsibilities has now entered the mix.

June 24, 2014

▲ Cloud computing, the remote hosting of applications on virtual platforms for on-demand, Web-based delivery, is on the fast track. Analysts estimate that during the next six years, 90% of new spending on Internet and communications technologies will be on cloud-based technologies.

June 24, 2014

Construction and construction costs are not an exact science: Information derived from data may be predicable; people are not.

The process takes time: Construction encompasses more that just the time it takes to physically build a store. It also involves the lease-negotiating phase, drawing phases, permit phase and bidding phase.

June 24, 2014

Data breaches are on the rise: Mounting an attack on retail systems has become increasingly attractive to attackers because malware can be delivered at very low cost, according to Mark Bower, VP product management and solutions, Voltage Security, a Cupertino, California, provider of data-centric encryption and tokenization.

“So it becomes very attractive to attackers to try and steal credit card and personal data they can monetize very quickly,” he added.

June 24, 2014

Investing in energy conservation makes business sense: According to ASHRAE, energy is the second highest retailer operating expense. A new white paper by the Retail Leaders Industry Association (RILA) and Schneider Electric notes that recent weather extremes have increased energy costs for retailers, and the trend is expected to continue. Factor in potential electricity price increases in the near future, and increases in energy costs could be significant.