Finally, a CEO who tells it like it is. When CFO Chuck Chokel left Carmel, Ind.-based financial services firm Conseco Inc. in March to “pursue other interests,” CEO Gary Wendt wished him well. When the stock tanked after the announcement, Wendt clarified his sentiments. “Chuck did not resign,” said Wendt. “His employment was terminated… because I did not believe that he was up to the job.” Company president Bill Shea will serve as acting CFO until a replacement is found.
Steven Lumpkin must be feelin’ good: he was named CFO of Applebee’s International Inc., based in Overland Park, Kans. Lumpkin, former EVP and chief development officer, replaces George Shadid, who was named to the newly created position of COO.
In what some might call a wise move, Edward Goldfinger, CFO of Cambridge, Mass.-based consultancy Sapient Corp., has left the firm. On the same day Goldfinger’s resignation was announced, Sapient issued a press release stating that it was laying off 545 employees. SVP Susan Johnson, Sapient’s CFO from 1994 through 1999, will serve as acting CFO until a permanent replacement is found.
It’s Miller Time
In a Kraft-y move, New Yorkbased Philip Morris Cos. has announced its plans to elect CFO Louis Camilleri as president and CEO, effective after the company’s annual stockholders’ meeting this month. Camilleri, who has served as Philip Morris’s CFO and SVP since 1996, replaces Geoffrey Bible, who continues as chairman of the consumer packaged-goods producer until his scheduled retirement in August.
It seems that 7-Eleven Inc. needed some change. The Dallas-based convenience retailer named Edward Moneypenny to the CFO post. Moneypenny was formerly CFO of Covanta Energy Corp., in Fairfield, N.J. Robert Shapard was named as Moneypenny’s successor at Covanta.
In the Market
We wonder if Terry Hungle phoned in his resignation from Ontario-based Nortel Networks Corp. Named CFO of the telecommunications-equipment provider in October 2001, he resigned in February amid allegations that he broke Nortel’s rules on stock trading by executives when he was VP, finance and business development Americas. Frank Dunn, Nortel’s president and CEO, will take on the job of acting CFO until a permanent replacement is found.
Warren Jenson is parking his shopping cart elsewhere; he has resigned as CFO of Amazon .com Inc. Jenson, who has been finance chief at the Seattle-based online store since September 1999, will stay at the company to help in its search for his successor.