CFOs On the Move: Week ending Aug. 15
Robyn D'Elia | PetMed Express
Online pet health care company PetMed Express is undergoing a significant leadership shakeup as its CEO, , and CFO, , both resign. The leadership changes come amid an investigation into a whistleblower complaint concerning the timing of revenue recognition and Nasdaq compliance issues related to late filing its annual report. While the company seeks replacements for Campos and D'Elia, Chair of the Board of Directors Leslie C.G. Campbell will serve as interim CEO. Douglas Krulik, the company's chief accounting officer, will become interim principal financial officer. D'Elia has been PetMed Express's CFO since September 2024, after holding CFO roles at Odeko and Bed Bath & Beyond. The departing executives will receive 13 months of base salary continuation and will provide consulting services for three months as needed.
Aunoy Banerjee | Citizens Financial Group
will become the finance chief of Citizens Financial Group starting Oct. 24. Banerjee joins Citizens from Barclays, where he has been CFO of Barclays Bank since April 2024. Before that, he held several roles at State Street over eight years, most recently as head of investments and third-party management and chair of State Street India. He also spent 11 years at Citi, including roles as business unit CFO for capital markets and securities services and head of corporate forecasting and planning. Banerjee succeeds John Woods, who is leaving the bank on Aug. 15 to become the finance chief of State Street. Chris Emerson, EVP and head of corporate planning and enterprise finance, will serve as CFO until Banerjee begins in October.
Matt Puckett | Ibotta
Ibotta has named as chief financial officer of the digital promotions network, effective Aug. 25. Puckett was most recently CFO of VF Corp., an apparel and footwear company and the parent company of Vans, The North Face and Timberland. During his 23 years at VF, he held several operating CFO roles, including a four-year period in Switzerland, where he oversaw finance across Europe and Asia. Puckett replaces Valarie Sheppard, who has been serving as Ibotta's interim CFO since March 14. Sheppard will continue to serve on the company's board.
Ajay Sabherwal | FTI Consulting
FTI Consulting's finance chief, , will leave the business consulting firm on Sept. 12. Sabherwal, who has held the top finance spot since 2016, is leaving for a role in another industry. The firm intends to appoint its chief strategy and transformation officer, Paul Linton, as interim CFO while it looks for Sabherwal's permanent replacement. Sabherwal has held several chief financial officer roles over his career, including at telecommunications services provider FairPoint Communications, biotechnology company Mendel Biotechnology and bioethanol production and marketing company Aventine Renewable Energy.
Judd Tirnauer | Sonrava Health
Sonrava Health, the parent company of Western Dental & Orthodontics, DentalWorks, and Vital Smiles, hired as its chief financial officer. Tirnauer most recently worked at California Pizza Kitchen, where he was serving his second stint as the restaurant chain's CFO, first from November 2022 to May 2022 and then again from October 2024 to July 2025. Between those periods, he was CFO of Backcountry, an outdoor gear and clothing retailer. Over his career, he has held several chief financial officer roles at restaurant chains and retail companies, including Black Angus Steakhouse, Real Mex Restaurants, Wet Seal and Destination Maternity.
Natalie Russell | Cyngn
was promoted to chief financial officer of Cyngn, a company that develops and deploys autonomous vehicle technology. Russell joined Cyngn in March 2023 as director of accounting and has been interim CFO since June. Before that, she was a technical accounting manager at SOAProjects, where she worked with clients in the technology and life sciences industries. Russell started her career at Ernst & Young in the audit and assurance practice.
Robert Houser | Repay Holdings
was appointed chief financial officer of payments technology company Repay Holdings, effective Sept. 8. Houser most recently served as group CFO of the public sector and adviser at Conduent, a digital business solutions and services company. He previously spent seven years at financial technology and payments firm Fiserv, where he held roles including senior vice president, general manager and CFO across multiple divisions. Houser also held various finance, accounting and strategy positions at Integra Lifesciences, Firmenich, Bristol-Myers Squibb and Merck. He succeeds interim CFO Thomas Sullivan, who will return to his role as chief accounting officer.
Guillermo Lopez Perez | dLocal
was named chief financial officer of dLocal, a cross-border payments platform. Lopez Perez joins the company from Featurespace, a machine learning platform focused on fraud prevention, where he held the same role. Before that, he was CFO of open banking platform Tink, CFO for Visa's Continental Europe business and held leadership positions over his 13-year career at American Express. Interim chief financial officer Jeffrey Brown will return to his previous role as vice president of finance. Brown took over for Mark Ortiz, who announced his departure in March due to health reasons.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Warren Buffett Says 'I Never Look At Where A Candidate Has Gone To School' And Believes A 'Large Portion' Of Business Talent Is Natural
The "Oracle of Omaha" Warren Buffet came from humble beginnings. So perhaps it's not a shocking revelation that pedigree means little to him when it comes to business potential, he says in his latest shareholder letter earlier this year. Long revered as required reading for investors, Buffett's annual letter to Berkshire Hathaway shareholders delivered yet another insightful lesson. This year's edition included a compelling argument that raw business talent often outweighs formal education. He cited examples from his career, including that of Pete Liegl, the late founder of Forest River, an RV manufacturer Berkshire acquired in 2005. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can A Handshake Deal That Built Billions Buffett first learned about Forest River in June 2005 when a liaison wrote to him, highlighting the company's financials. He explained that Liegl wanted to sell to Berkshire and named his price upfront. 'I liked this no-nonsense approach,' Buffett wrote. A week later, Liegl and Buffett met in Omaha, where Liegl made it clear he sought financial security for his family but intended to keep running the business himself. The negotiation that followed was simple. Buffett accepted Liegl's valuation of additional real estate assets without demanding an appraisal. And when it came time to discuss salary, Liegl delivered a response that floored Buffet. ''Well, I looked at Berkshire's proxy statement and I wouldn't want to make more than my boss, so pay me $100,000 per year,'' he recalled. Trending: Kevin O'Leary Says Real Estate's Been a Smart Bet for 200 Years — But Liegl paired his humility with shrewdness. He also requested a 10% bonus on earnings above Forest River's current performance, and Buffett accepted. Over the next 19 years, Liegl, who passed away last November at 80, 'shot the lights out,' Buffett wrote, consistently outperforming every competitor in the RV industry. All without the clout of an Ivy League MBA. Buffett's Hiring Manifesto: Forget the Diploma Buffett later hammered the point home with his characteristic clarity. 'One further point in our CEO selections: I never look at where a candidate has gone to school. Never!' he wrote. He acknowledged that many exceptional leaders emerge from prestigious institutions — he himself went to the University of Pennsylvania's Wharton School. But was quick to reiterate that Ivy league, or even higher education, is far from a prerequisite for success. In addition to Liegl, he cited the success of Harvard dropout Bill Gates; and Ben Rosner, a "retailing genius" and Berkshire Hathaway executive who built a $44 million company that Buffett acquired, yet never advanced past the sixth investors and entrepreneurs the lesson is clear: when evaluating talent, pedigree should take a back seat to proven ability. Leave the academic gatekeeping at the door. If not, you risk overlooking "natural" talent, as he described it, like Liegl. His approach also underscores another key Buffett principle: That a single decision, whether in hiring or investing, can have an outsized impact over time. 'Mistakes fade away; winners can forever blossom,' he wrote, pointing to transformative Berkshire decisions like acquiring GEICO, hiring Ajit Jain and partnering with Charlie Munger — evidence that a brilliant choice can reverberate for a lifetime. Read Next: These five entrepreneurs are worth $223 billion – Image: Imagn Images Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Warren Buffett Says 'I Never Look At Where A Candidate Has Gone To School' And Believes A 'Large Portion' Of Business Talent Is Natural originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
15 minutes ago
- Yahoo
Mutual Funds Bleed Another $432B as ETF Conversions Grow
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. (Bloomberg) -- Mutual funds are bleeding assets anew, just as their ETF cousins break fresh records. Now, firms from Lazard to Aberdeen Group Plc. are pushing to convert traditional funds into exchange-traded ones, even as regulators look poised to bless a structure that would allow both to coexist in peace. The number of mutual funds being converted into ETFs in 2025 has already topped 30, the most since 2021, barring last year when one large swathe of funds issued by a single firm were flipped, according to figures compiled by Bloomberg Intelligence. Data from State Street and Morningstar show a similar trend as well. It comes even as the asset-management industry awaits a groundbreaking regulatory change that would allow firms to add an exchange-traded fund share class onto their existing mutual funds, arguably negating the need to go all-in on just one wrapper. In the meantime, money managers have forged forward with their conversion plans. In 2024, mutual funds bled a net $451 billion, while their exchange-traded counterparts — which typically offer superior tax efficiency and liquidity — took in a record $1.1 trillion, according to data from Bloomberg Intelligence. So far in 2025, mutual funds have already lost $432 billion. Read more: Wall Street's Rush to Launch Vanguard-Style Funds Draws Warnings Instead of the brisk pace seen so far this year, State Street's Frank Koudelka had 'expected mutual-fund-to-ETF conversions to slow down because of the impending approval of ETF share class.' 'I believe this is a result of most clients recognizing that some of its mutual funds simply make more sense as an ETF. Others have chosen not to wait for the regulatory approval of ETF share class,' said Koudelka, the firm's global head of ETF solutions. More than 60 firms, including BlackRock Inc. and State Street Corp., are waiting for the regulator to sign off on the so-called multi-share class structure, which was made possible after Vanguard Group's exclusive patent on the fund design expired two years ago. The steady pace of conversions also underscores Wall Street's growing preference to package strategies of all stripes into ETFs instead of mutual funds, as the latter vehicle has seen net outflows for the past three years.
Yahoo
15 minutes ago
- Yahoo
Bernstein Raises TechnipFMC Price Target After Strong Q2 Results and Robotics Growth
TechnipFMC (NYSE:FTI) ranks among the . Bernstein analyst Guillaume Delaby maintained his Market Perform rating on TechnipFMC (NYSE:FTI) and increased his price target from $32 to $37 on July 29. The price target rise comes after TechnipFMC's impressive second-quarter 2025 results, which showed $2,535 million in revenue and $509 million in EBITDA. Bernstein increased TechnipFMC's 2025–2028 EBITDA projections by 3%, 6%, 6%, and 15%, respectively, citing the company's optimism about landing an extra $10 billion in subsea orders in 2026. In addition to highlighting TechnipFMC's 'increasing uniqueness' in the market and its multi-year visibility in the subsea segment, the analyst pointed out that the legacy company traded at a peak multiple of roughly 12x EV/EBITDA during the 2011–2013 upcycle. TechnipFMC (NYSE:FTI) focuses on energy projects, technologies, systems, and services businesses. The company operates through two segments: Subsea and Surface Technologies. Through its Schilling Robotics business, TechnipFMC is making progress toward more autonomous underwater operations. The company's ROVs are used in deepwater research, the oil and gas industry, the renewable energy sector, and military applications across the world. While we acknowledge the potential of FTI to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FTI and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
