A First for Everything

Mossimo, Babson College create new CFO positions. Plus, Sharper Image finance chief sharpens his image.

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>>Apparel company Mossimo Inc. brings in Manuel Marrero to fill in new post of CFO…Marrero’s last job was as CFO, COO of video-game maker Interplay Entertainment, where he played major role in sale of subsidiary Shiny Entertainment to Infogames…

This is good time for Mossimo to add finance help…Company used to make high-end clothing, accessories designed by eponymous chairman and CEO Mossimo Giannulli…After losing money (and getting de-listed from Nasdaq) company restructured, repositioned itself…Now has exclusive deal with discounter Target Stores, which makes and sells Giannulli’s designs…Company back in Nasdaq’s good graces in April, began listing on Small Cap Market…Marrero’s “broad range of experience as a Chief Financial Officer and numerous responsibilities within operating public companies, make him ideally suited for this position,” stated Giannulli.

>> Henry N. Deneault is Babson College‘s first CFO… Will keep day job as associate VP for academic affairs…Deneault with Babson for more than 30 years in various administrative roles…Currently oversees $35 million budget at academic affairs…Also was dean of graduate programs, assistant management prof…As CFO Deneault will report to VP of administration Mary Rose…Big part of job will be to help bring in money…

…Deneault tied to Babson since college days: Earned undergrad, MBA in management/marketing from college in 1972…

>>Raven Biotechnologies named John B. Whelan to CFO, COO posts…Whelan last served as VP and CFO of Eos Biotechnology, completing funding round and reached merger agreement with Pharmacopiea…Before that, spent 11 years at Hewlett Packard/Agilent in various slots…In last job as director of corporate development, led many acquisitions and other deals in biotech, medical-device, computing industries…Led team that completed HP’s first $1 billion acquisition.

Raven management looking to Whelan’s fundraising, deal making experience…Three-year-old company went through Series B financing in 2001 for $20 million…”His broad experience in fund raising, strategic financial management, operations and all other business aspects of building a successful company will help accelerate our growth,” said Jennie Mather, president and CEO…Raven focuses on research and drug discovery for antibody therapy…

>> Image everything for Sharper Image Corp. CFO Jeffrey Forgan, who went from SVP to EVP at specialty retailer…Management at seller of everything from electronic nose-hair trimmers to life-size Star Wars figures probably in good mood…Reported “outstanding” Q1 sales, up 34 percent from year ago…Forgan joined company in 1999…In FY 2002, ending January 31, earned $270,000…In 2001earned $261,923 with $150,000 bonus…

CFO Insider

Peregrine CFO Matt Glass may have left company amid accounting irregularities, but problems just beginning…Law firm Lovell & Stewart LLP filed class-action suit Thursday against Peregrine, Glass, chairman and CEO Stephen Gardner, and Andersen for fraud, negligent misrepresentation, intentional deceit…

Verticalnet CFO and COO David Kostman earned $250,000 with $75,000 bonus in 2001…Big jump from previous year, when he earned $119,318 with same bonus…

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