CFOs on the Move: Week Ending Jan. 2

Debenhams, Immunogen, Identive Group, KMG Chemicals, Kirby, Techne

At Britain’s second-largest department-store group, Debenhams, finance director Simon Herrick quit two days after the company issued a sharp profit warning due to poor Christmas trading. Herrick, who had held the role for two years, was already under fire after he asked suppliers for a discount and a one-off contribution in the days running up to the key festive period, according to local media reports. The company said a search to find a replacement was under way. Whoever takes the job will be tasked with rebuilding confidence among investors after the group issued its second profit warning in less than a year. Its shares are down almost 40 percent in the last 12 months.

Biotechnology firm ImmunoGen has named David Johnston to lead the finance function. Most recently, he was CFO at AVEO Pharmaceuticals; before that, he was senior vice president of finance, corporate planning and analysis at Genzyme.

Identive Group has appointed Brian Nelson CFO and secretary. Previously, he headed finance at idOnDemand, which Identive acquired in 2011. Nelson takes over from David Wear, who will become vice president, special projects.

Malinda Passmore has been named to the top finance spot at KMG Chemicals, effective Jan. 27. She will join the firm from Country Fresh, where she also led the finance function.

Tank-barge operator Kirby Corp. has promoted CFO David Grzebinski to the posts of president and chief operating officer, but he will stay on as CFO until the company files its 10-K for 2013 in February. C. Andrew Smith has been named executive vice president – finance and will succeed Grzebinski as CFO next month.

Gregory Melsen has resigned as finance chief of Techne, effective Feb. 3. He has headed finance at the biotechnology products developer, manufacturer and seller since 2004.

One thought on “CFOs on the Move: Week Ending Jan. 2

  1. There are big problems, facing “brick and mortar” stores, which is the case in the Debenhams retail story! How do such outlets compete with the EBay and Amazons? I believe there is a place for mix retail outlets that do just in time inventory! The other problem is stagnant wages in the UK and US! The middle class needs a raise in each to meet growing profits vs. losses!

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