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CFO Moves (October 22) Print E-mail

CFO leaving consumer goods giant, new CFO at Borders and CarMax promotes from within.

By Denise Bedell

Consumer goods maker Reckitt Benckiser has announced that CFO Colin Day will leave the company in March of next year. The company will search for a replacement over the next few months.

Day has been finance chief at Reckitt for the past 10 years. He is departing to focus on non-executive positions he holds with advertising firm WPP and engineering firm Amec, according to the company.

However, Reckitt Benckiser is currently facing some controversy over its actions in the recent sale of one of its product lines. The Office of Fair Trading in the UK fined the company £10.2m for anti-competitive tactics while selling off its holdings in heartburn remedy Gaviscon.

The global company makes and markets such consumer goods products as Finish dishwashing solutions and Lysol cleaning products, plus food products such as French’s mustard.

Elsewhere, Scott Henry has joined bookseller Borders Group as EVP and chief financial officer. Henry will focus on internal and external corporate and operational financial management and business development, and joins from his own financial consulting firm - SD Henry Strategic Services. Previously, Henry was CFO and SVP Finance at hotel and gaming group Las Vegas Sands.

Nationwide used car dealership CarMax has promoted from within for its new finance chief. The company announced that current SVP Finance Tom Reedy will take over as chief financial officer, replacing Keith Browning, who will stay on as EVP Finance and manage the financing arm, CarMax Auto Finance.

Tod Spornhauer has resigned as CFO of restaurant chain Bob Evans Farms. He will leave the post in January after 19 years with the company. Chief Risk and Compliance Officer Richard Green will take over as interim CFO as the company searches for a replacement. Spornhauer noted in a press release on the announcement that he is leaving to pursue a second career as a teacher.

TUI Travel said its CFO will resign after the company announced plans to restate its results for 2009. The travel firm said it overstated customer bookings by £117 million due to a post-merger technical glitch. According to a release by the company, CFO Paul Botwell announced his resignation over the incident, and will leave at the end of this year.

Aetna has increased the role and responsibility of its chief financial officer Joseph Zubretzky. He will take over the title of SVP and lead the health insurer’s strategic diversification initiatives - in addition to his finance obligations, according to the company.

Simon Biddiscombe has bee promoted from CFO at QLogic Corp to take over as chief executive officer upon current-CEO HK Desai’s step down from office in November. VP Finance Doug Naylor will take over as interim chief financial officer while the company searches for a replacement.

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