American International Group Inc. (AIG), the $81.3 billion New York?? 1/2 based insurance company, named a new CFO and executive vice president, Steven Bensinger. His appointment came as CFO Howard Smith took leave and CEO and President M.R. Greenberg stepped down amid regulators' investigations of an AIG transaction with another insurance company. Smith, 60, has been AIG's CFO since 1996. Bensinger, 50, joined AIG in 2002 as treasurer and added the titles of comptroller and senior vice president in January. He continues to serve as treasurer and comptroller. Earlier, Bensinger was CFO of Combined Specialty Group Inc., Aon Corp.'s insurance underwriting unit, and executive vice president of Trenwick Group Ltd. He also worked at Chartwell Re Corp. and Skandia America Reinsurance Corp. after starting his career with Coopers & Lybrand.
The Bank of America, the financial institution based in Charlotte, N.C. with $65.4 billion of 2004 revenues and $1.1 trillion of assets, named J. Chandler Martin treasurer, in an appointment that emphasizes treasury's role in risk management. Martin, 54, most recently was Bank of America's enterprise, market and operational risk executive, and in that position provided treasury with risk management support. Earlier, he was the risk management executive for global corporate and investment banking. Martin also led the creation of the bank's capital risk management function in 1993, after joining the bank in 1981. He succeeds Joseph Dewhirst, who resigned. Dewhirst had been B of A's treasurer since last April, when it acquired FleetBoston Financial, where Dewhirst was treasurer.
Tenet Healthcare Corp., a $13.2 billion hospital chain based in Dallas, hired Robert Shapard as CFO. He succeeds Stephen Farber, who announced last year that he would be leaving. Shapard, 49, joined Tenet from Exelon Corp., a $14.5 billion Chicago electric utility, where he had been CFO and executive vice president since 2002. Earlier, he was CFO of Covanta Energy Corp. and Ultramar Diamond Shamrock and spent 20 years at TXU Corp. Exelon reorganized its senior management. John Young, 48, Exelon's executive vice president, was named executive vice president for finance and markets, and Barry Mitchell, 57, its treasurer and senior vice president, took on the additional title of CFO.
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Wells Fargo & Co., the San Francisco?? 1/2 based financial services company with $428 billion in assets and $33.8 billion in 2004 revenues, promoted Paul Ackerman to treasurer. He replaces Nino Fanlo, who left in 2004. Ackerman, 43, most recently was head of financial planning and analysis. Since joining a Wells Fargo predecessor, Norwest Corp., in 1990, he has worked in finance and operations, including serving as CFO of Wells Fargo Services.
Lockheed Martin Corp., the $35.5 billion defense contractor based in Bethesda, Md., named Martin Stanislav controller and chief accounting officer. He replaces Rajeev Bhalla, who was named senior vice president of finance for United Technology Corp.'s Pratt & Whitney division, which had 2003 revenues of $7.5 billion. Stanislav, 41, most recently was controller and vice president of Lockheed Martin's aeronautics business in Fort Worth, Texas. Since joining the company in 1998, he has served as director of accounting and vice president of shared services. Earlier, he worked at Ernst & Young LLP. Bhalla, 41, joined Lockheed Martin in 2001 after working at Price Waterhouse.
HCA, the $23.5 billion hospital chain based in Nashville, Tenn., named Jeffrey Crudele CFO of its $11.4 billion Eastern group. He replaces Bill Rutherford, who is leaving to start his own business. Crudele, 43, has worked for HCA for 11 years, most recently as the CFO of its Southeast division. Earlier, he worked for Ernst & Young LLP.
Alltel Corp., an $8.2 billion telecommunications company based in Little Rock, Ark., named John Ebner treasurer. He succeeds Scott Settelmyer, who is leaving to move back to Chicago. Ebner, 35, most recently was vice president of finance for Alltel's wireless operations. He also served as vice president of pricing and product management for Alltel Communications and assistant to the president of Alltel Corp. since joining the company in 1996. Earlier, he was an investment banker at JPMorgan and Stephens Inc.
Sara Lee Corp., the $19.5 billion maker of baked goods and other consumer products, named Carrie Teffner treasurer and vice president. She succeeds Diana Ferguson, who was named senior vice president of strategy and corporate development earlier this year. Teffner, 38, most recently was Sara Lee's assistant treasurer. She has worked in financial and management jobs since joining the company in 1988.
BB&T Corp., a bank holding company based in Winston-Salem, N.C., with $100.5 billion in assets and $6.2 billion in 2004 revenues, said Chris Henson will become CFO when Scott Reed retires at the end of June. Henson, 43, has been BB&T's assistant CFO and senior executive vice president since April 2004. After joining BB&T's management development program in 1985, he served as president of its Virginia operations and of two community bank regions.
Harrah's Entertainment Inc. said that when it acquires Caesars Entertainment Inc., Harrah's top executives will remain in their jobs, including CFO and senior vice president Charles Atwood. Atwood, 56, has been Harrah's CFO since 2001 and has worked for the company since 1979. The deal is expected to roughly double the revenues of Las Vegas-based Harrah's, which took in $4.5 billion in 2004.
RadioShack Corp., the $4.8 billion consumer electronics retailer, hired David Barnes as CFO and senior vice president. He replaces David Johnson, the acting CFO since July 2004, when Michael Newman left to become CFO of Blackstone Crystal Holdings Capital Partners. Johnson will continue to serve as controller. Barnes, 43, joined RadioShack from Molson Coors Brewing Co., where he most recently was CFO of Coors U.S. He joined Coors as treasurer in 1999 after working in finance at Yum! Brands Inc. Earlier, he was a consultant with Bain & Co.
Delta Dental of California, a $4.3 billion provider of dental coverage based in San Francisco, named Alicia Weber controller and vice president of finance. She succeeds Michael Castro, who is now the company's CFO. Weber, 40, has worked for Delta Dental for 12 years, most recently as its accounting manager. Earlier, she worked for Price Waterhouse for six years.
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