CFOs: who's in, who's out
Rob McFarlane, CFO of the Lyttelton Port Company and a key architect of its floatation eight years ago, has offered his resignation to the company. The company is currently searching for McFarlane's successor. The maritime company, based in New Zealand, recently announced an 8% increase in earnings during 2004. Digital Insight, the on-line banking operation, has suffered a drop in its stock price following the departure of Elizabeth Murray, the company's CFO. Shares fell 13% to $13.57 on the news. Murray, who joined the company in 2002 after an executive role with Korn/Ferry International, has left to pursue other career opportunities.
The Granite Broadcasting Corporation has received yet more bad news after leaving the Nasdaq SmallCap market in early August. The New York-based television company has lost its CFO, Ellen McClain, who will be immediately replaced by Lawrence Willis, an employee of 14 years with Granite. McClain moves to Hearst-Argyle Television to become vice-president of finance ? she will report to CFO Harry Hawks.
William Trubeck is the new CFO at H&R Block, the world's largest tax service company. Trubeck, who served most recently as chief administration officer and CFO of Waste Management, becomes CFO on October 4th.