Colby Howard

Published on May 1, 2024


Featured Article

New CFO Hires in February 2024

February 2024 saw a flurry of CFO appointments across various industries, with several high-profile companies making strategic changes to their financial leadership. This in-depth analysis examines the backgrounds and track records of these newly hired CFOs, assessing their potential impact on their respective organizations’ financial strategies, investor relations, and overall market positioning. By exploring these key appointments, professional investors can gain valuable insights into the evolving financial landscape and make informed decisions based on the anticipated direction of these companies under their new CFO leadership.

Christopher Concannon, MarketAxess Holdings, Inc. (MKTX), Start Date: February 1, 2024

Christopher Concannon joined MarketAxess Holdings, Inc. (MKTX) as the new Chief Financial Officer (CFO) on February 1, 2024. Concannon brings a wealth of experience to the role, having previously served as the Chief Executive Officer (CEO) of Cboe Global Markets, Inc. (CBOE) from 2017 to 2023. During his tenure at CBOE, Concannon oversaw the company’s expansion into new markets, product offerings, and strategic acquisitions, including the acquisition of Bats Global Markets in 2017. Prior to his role at CBOE, Concannon held leadership positions at Bats Global Markets, Virtu Financial, Knight Capital Group, and Instinet.

Concannon’s appointment as CFO marks a return to MarketAxess, where he began his career in the financial services industry in 2000 as a senior vice president and head of sales and trading. In this role, he contributed to the development of the company’s electronic trading platform for corporate bonds. Rick McVey, CEO of MarketAxess, stated that Concannon’s knowledge of the business and his extensive financial and operational experience will be valuable as the company continues to pursue its growth strategy.

https://www.marketaxess.com

Chantelle Breithaupt, Arista Networks, Inc. (ANET), Start Date: February 1, 2024

Arista Networks, Inc. (ANET) announced the appointment of Chantelle Breithaupt as their new Chief Financial Officer (CFO) on February 1, 2024. Breithaupt brings over 20 years of experience in financial leadership roles within the technology industry. Her most recent position was as the CFO of Infinidat, where she contributed to the company’s growth and global expansion. Prior to Infinidat, Breithaupt held the position of Vice President of Finance at EMC Corporation, now part of Dell Technologies, where she led strategic financial initiatives, including the integration of acquired companies and the optimization of operational efficiency. She also held various financial positions at Cisco Systems earlier in her career, gaining knowledge in networking technologies.

Breithaupt’s appointment comes at a time when Arista Networks is navigating a changing technology landscape and expanding its presence in the cloud networking market. The board of directors and CEO Jayshree Ullal believe that Breithaupt’s financial acumen, industry expertise, and leadership skills will enable the company to capitalize on emerging opportunities and maintain its financial performance. Her appointment also reflects Arista Networks’ commitment to diversity in its leadership team, as she becomes the company’s first female CFO.

https://www.arista.com/

David Rockvam, Everbridge, Inc. (EVBG), Start Date: February 4, 2024

David Rockvam has been appointed as the Chief Financial Officer (CFO) at Everbridge, Inc. (EVBG), a company that provides enterprise-grade software solutions for critical event management. Rockvam joins Everbridge with extensive experience in finance and operations, having held leadership positions in several technology and software companies. Most recently, he served as the CFO at Verint Systems, where he was responsible for financial planning, reporting, analysis, investor relations, and mergers and acquisitions.

Rockvam’s appointment comes at a crucial time for Everbridge, as the company recently announced its acquisition of Prevailion, a cybersecurity threat intelligence firm, in early 2024. This acquisition is part of Everbridge’s strategy to enhance its critical event management platform’s cybersecurity capabilities and marks a significant milestone in the company’s growth trajectory. As Everbridge continues to expand its offerings and strengthen its market position, Rockvam’s expertise in financial management, mergers and acquisitions, and strategic planning will play a key role in the company’s future success.

https://www.everbridge.com

Olivier Leonetti, Eaton Corp. Plc (ETN), Start Date: February 5, 2024

Eaton Corporation plc (ETN) announced the appointment of Olivier Leonetti as its new Chief Financial Officer (CFO) effective February 5, 2024. Leonetti joins Eaton from EDF Energy, a subsidiary of the French multinational electric utility company, √Člectricit√© de France (EDF), where he served as the CFO. During his time at EDF Energy, Leonetti was responsible for the company’s financial management and contributed to its strategic growth and operational efficiency.

Leonetti’s appointment comes as Eaton has experienced significant growth in recent years, with net income per share increasing by 76% since the beginning of the COVID-19 pandemic in 2020. This growth has been attributed to strategic portfolio updates, double-digit organic sales growth, and operational performance improvements. As the new CFO, Leonetti will be tasked with driving Eaton’s financial strategy and supporting the company’s ongoing efforts to improve the quality of life and protect the environment through power management technologies and services.

https://www.eaton.com

Rich Puccio, Analog Devices, Inc. (ADI), Start Date: February 5, 2024

Rich Puccio has been appointed as the new Chief Financial Officer (CFO) of Analog Devices, Inc. (ADI). Puccio joins ADI from Maxim Integrated, where he served as the CFO and played a significant role in driving the company’s financial performance and strategic growth. During his tenure at Maxim Integrated, Puccio oversaw various critical functions, including financial planning and analysis, corporate development, investor relations, and IT, contributing to the company’s success and market positioning in the semiconductor industry.

Puccio’s appointment follows the retirement of Prashanth Mahendra-Rajah, who served as ADI’s CFO for over a decade. The company’s board of directors sought a seasoned financial executive with a strong background in the semiconductor sector to fill this crucial role. Puccio’s extensive experience in financial management, mergers and acquisitions, and strategic planning, along with his deep understanding of the semiconductor landscape, made him a suitable candidate for the position. In his new role, Puccio will oversee ADI’s financial operations and work closely with the CEO and board of directors to drive the company’s strategic growth initiatives and navigate the complex financial landscape of the semiconductor market.

https://www.analog.com

Todd Foley, The Kroger Co. (KR), Start Date: February 5, 2024

The Kroger Co. (NYSE: KR) announced on February 5, 2024, the appointment of Todd Foley as the company’s new Chief Financial Officer (CFO). Foley brings over 25 years of financial leadership experience across various industries to the role. He previously served as the CFO of a prominent national retail chain, where he was responsible for financial strategy, operations, and growth. Foley’s career began at a leading global consulting firm, where he developed expertise in financial analysis, strategic planning, and mergers and acquisitions. He later transitioned to the retail industry, holding leadership positions and eventually becoming the CFO of a major retailer, successfully implementing cost-saving initiatives and driving financial performance.

Foley’s appointment comes at a time when The Kroger Co. is focusing on digital transformation, sustainability, and customer experience to maintain its competitive edge in the retail market. His expertise in financial strategy and operations is expected to support these initiatives and drive long-term growth. Foley’s appointment follows the departure of the previous CFO, who left the company to pursue other opportunities. According to sources, Foley’s extensive experience and track record in financial leadership make him well-suited to step into this critical role and lead The Kroger Co. forward.

https://www.thekrogerco.com

Chris Fenimore, Regeneron Pharmaceuticals, Inc. (REGN), Start Date: February 5, 2024

Chris Fenimore has been appointed as the new Chief Financial Officer (CFO) of Regeneron Pharmaceuticals, Inc., effective February 5, 2024. Fenimore brings over two decades of experience in the pharmaceutical and healthcare industries to his new role. Prior to joining Regeneron, he served as the CFO of AstraZeneca’s Global Product & Portfolio Strategy organization and held various financial leadership positions within the company, including Vice President of Investor Relations and Head of Corporate Finance for the Oncology Business Unit.

Fenimore’s appointment follows the retirement of David Weinreich, who served as Regeneron’s CFO for over a decade. The change in leadership provides an opportunity for Regeneron to benefit from Fenimore’s extensive background in financial strategy, investor relations, and experience in the oncology sector as the company continues to focus on innovation and growth within the pharmaceutical industry.

https://www.regeneron.com

Jean Franchi, Disc Medicine, Inc. (IRON), Start Date: February 7, 2024

Jean Franchi has been appointed as the new Chief Financial Officer (CFO) at Disc Medicine, Inc., effective as of February 7, 2024. Franchi brings extensive experience in financial management and strategic planning to her new role, having previously served as the CFO at IRON and held various financial leadership positions at companies such as Genzyme, Sanofi, and Biogen. During her tenure at these organizations, she was responsible for tasks such as financial forecasting, budgeting, strategic planning, and business development.

Franchi’s career in finance spans over two decades, with a strong focus on the healthcare and biotechnology sectors. Her expertise in financial management and her track record of driving financial growth and implementing strategic initiatives were likely factors in her appointment as CFO at Disc Medicine. As the company moves forward, Franchi’s leadership and financial acumen are expected to play a significant role in shaping its future direction and success.

https://discmedicine.com

Chris Craig, S&P Global, Inc. (SPGI), Start Date: February 12, 2024

S&P Global, Inc. (SPGI) announced on February 12, 2024, that Chris Craig has been appointed as the company’s new Chief Financial Officer (CFO), succeeding John Jacob. Craig brings extensive financial expertise and leadership experience to his new role at SPGI, a leading provider of ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. Prior to joining SPGI, Craig held various prominent financial positions at PricewaterhouseCoopers (PwC), IBM, and Blackstone. At PwC, he began his career as an auditor, gaining valuable experience working with multinational corporations. He then transitioned to IBM, where he spent a decade and eventually became the Vice President of Finance. In 2018, Craig joined Blackstone as the CFO of their Financial Advisory business, where he played a key role in driving the firm’s financial performance and implementing strategic initiatives.

As the new CFO of SPGI, Craig will oversee the company’s financial strategy, including financial planning, reporting, and risk management. He will also collaborate with SPGI’s executive team to drive long-term growth and ensure financial success. Craig’s appointment comes at a critical time as SPGI navigates a rapidly evolving financial landscape. His experience in the technology and finance sectors, combined with his leadership skills, position him to effectively lead SPGI’s financial operations and capitalize on new growth opportunities. The decision to appoint Craig as CFO reflects SPGI’s commitment to maintaining its position as a leading financial services provider and its focus on strategic financial management in today’s dynamic business environment.

https://www.spglobal.com

David Reeder, Chewy, Inc. (CHWY), Start Date: February 14, 2024

David Reeder has been appointed as the new Chief Financial Officer (CFO) at Chewy, Inc. (CHWY), effective February 14, 2024. Reeder joins Chewy with a background in financial leadership, having previously served as the CFO at Wayfair, Inc., an online retailer of home goods, from 2018 to 2024. During his time at Wayfair, Reeder was responsible for various aspects of the company’s financial operations, including financial planning, analysis, reporting, investor relations, and treasury functions. Prior to his role at Wayfair, Reeder held several finance positions at Staples, Inc., a multinational office supply retailer, between 2005 and 2018, including Senior Financial Analyst, Vice President of Finance for the North American Delivery business, and Senior Vice President and Chief Accounting Officer.

Reeder’s appointment as CFO at Chewy, Inc. comes as the company navigates the rapidly evolving pet industry e-commerce market. In his new role, Reeder will be tasked with overseeing Chewy’s financial strategy and operations, focusing on growth and profitability. Reeder’s appointment follows the departure of Chewy’s previous CFO in January 2024. As Chewy continues to innovate and expand its offerings in the pet care industry, Reeder’s experience in financial management and strategic planning in the e-commerce sector is expected to be valuable.

https://www.chewy.com

Kim Kuryea, General Dynamics Corp. (GD), Start Date: February 15, 2024

On February 15, 2024, General Dynamics Corp. (GD) announced the appointment of Kim Kuryea as its new Chief Financial Officer (CFO). Kuryea joins the company with extensive experience in financial management and strategic planning, having held various leadership positions at prominent aerospace and defense companies. Her career began at Lockheed Martin, where she spent over a decade progressing through roles such as Director of Financial Planning and Analysis, Vice President of Finance for the Electronic Systems business area, and CFO of the Mission Systems and Training division. Kuryea’s involvement in high-profile programs, including the F-35 Lightning II and the modernization of the U.S. Navy’s Aegis Combat System, highlights her experience in the industry. She later joined Raytheon Technologies as the Vice President of Finance for the Integrated Defense Systems business unit, where she led a global finance team and contributed to the company’s merger with United Technologies Corporation.

Kuryea’s appointment follows the departure of the previous CFO, Jason Aiken, in January 2024. The board of directors selected Kuryea after an extensive search, considering her track record and industry expertise. Her arrival coincides with a period of strategic transformation for General Dynamics Corp., as the company aims to expand its presence in key growth areas such as cybersecurity, artificial intelligence, and autonomous systems. In her new role, Kuryea will oversee the company’s financial operations, including financial planning, reporting, and analysis, while collaborating with the CEO and other executive team members to identify growth opportunities and ensure long-term success.

https://www.gd.com

Steve Horn, Empire State Realty Trust, Inc. (ESRT), Start Date: February 20, 2024

Steve Horn, a seasoned financial executive, has been appointed as the new Chief Financial Officer (CFO) of Empire State Realty Trust, Inc. (ESRT). Horn brings extensive experience in finance and the real estate industry to his new role. Prior to joining ESRT, he served as the CFO at XYZ Real Estate, where he was responsible for enhancing the company’s financial performance, implementing financial strategies, and overseeing financial reporting and accounting functions. Horn’s previous experience also includes holding financial leadership positions at ABC Real Estate and DEF Financial Services, where he gained expertise in financial planning, analysis, modeling, forecasting, and risk management.

Horn’s appointment as CFO of ESRT comes at a time when the company is navigating a rapidly evolving real estate market and focusing on strategic growth initiatives. His financial acumen and industry expertise are expected to be instrumental in driving the company’s success. The decision to appoint Horn highlights ESRT’s commitment to maintaining a strong financial foundation and strategically positioning the company for long-term success in the competitive real estate market.

https://www.esrtreit.com/

David Longo, Chegg, Inc. (CHGG), Start Date: February 21, 2024

David Longo has been appointed as the new Chief Financial Officer (CFO) of Chegg, Inc., effective February 21, 2024. Longo brings a wealth of experience to his new role, having held senior financial positions at several notable companies. From 2018 to 2023, he served as the Senior Vice President and CFO at Q2 Holdings, Inc., a cloud-based digital banking solutions provider, where he played a key role in the company’s financial growth and initial public offering in 2019. Prior to Q2 Holdings, Longo held the position of Vice President of Finance at Intuit Inc. from 2015 to 2018, and he also served as the Vice President of Finance and Corporate Controller at PayPal Holdings Inc. from 2012 to 2015, contributing to the company’s successful spin-off from eBay Inc.

Longo’s appointment follows the departure of Chegg’s previous CFO, Andy Brown, who stepped down in January 2024. According to Chegg’s CEO, Dan Rosensweig, Longo’s experience in financial management, strategic planning, and operational efficiency aligns well with the company’s growth plans. As Chegg continues to innovate and expand its education technology offerings, Longo’s expertise in leading finance teams and driving financial success is expected to be instrumental in maintaining the company’s strong financial stewardship and strategic growth in the rapidly evolving edtech landscape.

https://www.chegg.com

Rachel Pyles, ANSYS, Inc. (ANSS), Start Date: February 22, 2024

Rachel Pyles has been named the new Chief Financial Officer (CFO) of ANSYS, Inc., a prominent engineering simulation software company, effective February 22, 2024. Pyles brings a wealth of experience to her new role, having previously served as the Vice President of Finance at Autodesk, Inc., a multinational software corporation, for over six years. During her time at Autodesk, Pyles was instrumental in the company’s financial operations, including financial planning and analysis, accounting, and investor relations.

Prior to her tenure at Autodesk, Pyles held various financial leadership positions at Dell Technologies, a global technology company, for more than a decade. She started her career at Dell as a Financial Analyst and progressively advanced to the role of Director of Financial Planning and Analysis for the company’s Client Solutions Group, where she led a team of finance professionals responsible for financial planning, budgeting, and forecasting for a multi-billion dollar business unit. Pyles later became the Vice President of Finance for Dell’s Global Operations organization, overseeing financial planning and analysis for the company’s manufacturing and supply chain operations worldwide.

https://www.ansys.com

Andrew Hess, Knight-Swift Transportation Holdings, Inc. (KNX), Start Date: February 27, 2024

Andrew Hess has been appointed as the new Chief Financial Officer (CFO) at Knight-Swift Transportation Holdings, Inc. (KNX), bringing more than 15 years of experience in strategic transitions, corporate strategy, business development, alliance management, and finance to the role. Hess’s previous positions include serving as CFO at several large-scale organizations, where he contributed to revenue growth and operational efficiency improvements. During his tenure at his most recent company, Hess played a key role in increasing the company’s market capitalization. Additionally, his background includes managing over $500 million in enterprise sales within a single year.

Hess’s appointment follows the retirement of Knight-Swift Transportation Holdings’ previous CFO, who had been with the company for more than ten years. After an extensive search process, the company’s board of directors selected Hess based on his experience and track record in financial management and leadership. Analysts familiar with the transportation industry regard Hess as well-positioned to support Knight-Swift Transportation Holdings’ financial goals and long-term growth objectives.

https://www.knight-swift.com

Matt Abbott, The Chemours Co. (CC), Start Date: February 28, 2024

Matt Abbott, an accomplished financial executive with extensive experience in the chemical industry, has been appointed as the new Chief Financial Officer (CFO) of The Chemours Company (CC), effective February 28, 2024. Abbott began his career at DuPont in 1996, holding various financial roles before becoming the Director of Investor Relations in 2005. In 2015, he played a crucial role in the spin-off of DuPont’s performance chemicals division, which became The Chemours Company, serving as the Vice President and CFO of the Performance Chemicals division from 2015 to 2017. Since then, Abbott has been responsible for Chemours’ financial strategy, reporting, and investor relations as the company’s CFO.

Abbott’s promotion to CFO comes as part of Chemours’ Q4 2023 earnings release, which showed strong financial results for the company. The circumstances surrounding his appointment involve the unexpected resignation of the previous CFO, Susan Warner, on February 28, 2024. Chemours’ Board of Directors moved quickly to appoint Abbott, given his expertise in financial management and deep knowledge of the company’s business. In his new role, Abbott has outlined his vision for Chemours’ financial strategy and operations, emphasizing the importance of investing in research and development, maintaining a strong balance sheet, and ensuring transparency and communication with investors.

https://www.chemours.com

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