CFOs on the move at QLT, Emap and Datamonitor
Canadian biopharmaceutical company QLT has announced that Michael Doty is to step down as CFO with immediate effect, though there was no indication that this was linked to poor performance. CEO Paul Hastings said Doty had implemented a new standard of financial discipline at the company. "He introduced a new budgeting process that has allowed us to better control and manage our business, he put in a highly effective foreign currency exposure risk management strategy, and he has worked diligently to meet the many new requirements of corporate governance, including those of the Sarbanes-Oxley Act," he said.
Cameron Nelson, vice president of finance, becomes interim CFO until a replacement is found. The company gave no reason for Hastings's departure.
In the UK, meanwhile, Gary Hughes has resigned as group finance director of media company Emap in order to spend more time with his family. He will leave in May after the company has announced its preliminary results, the company said. Huges joined Emap in October 2000 and was previously group FD of Scottish Media Group.
Another UK media company, Datamonitor, has appointed Simon Pyper as its new FD. The 38-year-old will take over from Andrew Gilchrist in August and will help prepare the interim results for the six months up to June 30 2005, to be released in September.