Freddie Mac, a $32.6 billion government sponsored mortgage finance company based in McLean, Va., hired Timothy Bitsberger as treasurer and senior vice president for funding and investor relations. He succeeds Jerome Lienhard, who left to join MBNA Corp. Bitsberger, 46, most recently was assistant secretary for financial markets at the U.S. Treasury and earlier was deputy assistant secretary for federal finance. Bitsberger spent more than 15 years on Wall Street, where his last position was senior vice president of investments at Salomon Smith Barney.
Verizon Communications Inc., the $71.2 billion telecom company based in New York City, appointed its treasurer, Thomas Bartlett, as controller and senior vice president and said Cathie Webster will succeed Bartlett as treasurer and senior vice president. Bartlett, 47, replaces Dave Benson, who is retiring. Bartlett joined the company as president of a subsidiary, Global Solutions Inc., in 2000, when Bell Atlantic and GTE Corp. combined to form Verizon. Earlier, he was CEO and president of Bell Atlantic's international wireless operation and CEO of Grupo Iusacell, a Mexican telecom. Webster, 53, most recently was Verizon's senior vice president of investor relations. Earlier, she was vice president of finance for its network services and wholesale markets operations.
Fannie Mae, the $53.7 billion government-sponsored mortgage finance company, hired Robert Blakely as its new CFO. Blakely, 63, has been CFO and executive vice president of MCI Inc. since 2003. He will join Fannie once Verizon Communications Inc. completes its acquisition of MCI, which is expected to occur by early 2006. Blakely played a key role in MCI's restructuring after the accounting scandal that occurred while it was called WorldCom Inc. Blakely will have another set of problems to face at Fannie. His predecessor, Timothy Howard, resigned in late 2004 after the Securities and Exchange Commission ruled that Fannie improperly accounted for derivatives. Blakely has worked in finance and accounting for more than 30 years, including stints as CFO at Tenneco Inc. and Lyondell Chemical Co. Rob Levin, who served as Fannie's interim CFO, was named chief business officer, a new position.
Recommended For You
Computer Sciences Corp. (CSC), a $14 billion information technology services provider based in El Segundo, Calif., named Michael Keane CFO. He succeeds Leon Level, the company's CFO for 16 years, who remains corporate vice president. Keane, 49, joined CSC as vice president of finance in September from UNOVA Inc., where he had been CFO and senior vice president since 1997.
Washington Mutual Inc., a $15.9 billion bank based in Seattle, hired John Woods as controller. He succeeds Robert Miles, who left to join another company. Woods, 41, most recently was corporate controller, principal accounting officer and senior vice president at Freddie Mac. He joined Freddie as senior vice president of accounting and controls for the funding and investments division in 2002. Earlier, Woods spent 16 years at Arthur Andersen LLP.
Alcoa Inc., a $23.4 billion alumina and aluminum producer based in Pittsburgh, named Joseph Muscari CFO. He succeeds Richard Kelson, who is retiring. Muscari, 59, most recently was executive vice president with responsibility for the company's operations in Asia and its rigid packaging and global foil divisions. Since joining Alcoa in 1969 as an industrial engineer, he has worked in both operations and finance, including serving as head of IT, quality director for the finance group and vice president of audit.
Lowe's Companies Inc., a $36.4 billion home improvement chain based in Mooresville, N.C., promoted Matthew Hollifield to chief accounting officer and senior vice president. He replaces Ken Black, who is leaving to pursue other interests. Hollifield, 39, joined Lowe's as vice president of corporate accounts payable in 2002 from Century Furniture Industries, where he was CFO.
Rite Aid Corp., a $16.8 billion drugstore chain based in Camp Hill, Pa., named Kevin Twomey CFO and executive vice president. He has served as Rite Aid's interim CFO since John Standley left to become CEO of Pathmark Stores Inc. in August 2005. Twomey, 55, has been Rite Aid's chief accounting officer and senior vice president since joining the company in 2000. Earlier, he was senior vice president of finance and control at Fleming Cos. Rite Aid said Doug Donley, its corporate controller and group vice president, will replace Twomey as chief accounting officer. Donley, 43, joined Rite Aid in 1996 as a financial analyst and later served as assistant controller.
Exelon Corp., a $14.5 billion utility based in Chicago, named John Young CFO and Michael Metzner treasurer. Young and Metzner replace J. Barry Mitchell, who was appointed president of Commonwealth Edison, a subsidiary. Young, 49, most recently was Exelon's executive vice president of finance and markets, after joining a subsidiary, Exelon Power, as COO in 2003. Metzner, 43, most recently was vice president of investor relations and shareholder services.
7-Eleven Inc., a $12.1 billion convenience store chain based in Dallas, named Stanley Reynolds CFO and senior vice president. He succeeds Edward Moneypenny, who is retiring. Reynolds, 40, most recently was 7-Eleven's treasurer and vice president of corporate planning. He joined the company in 1997 as manager of corporate finance.
Dynegy Inc., a $6.1 billion electricity company based in Houston, named Holli Nichols CFO and executive vice president. She replaces Nick Caruso, who left the company. Nichols, 35, most recently was Dynegy's treasurer and senior vice president. She joined the company as controller and senior vice president in 2000 from PricewaterhouseCoopers LLP. Dynegy's vice president of finance for treasury, Chuck Cook, will replace Nichols as treasurer and senior vice president. Cook, 41, joined the asset management group of a Dynegy predecessor, Destec Energy Inc., in 1991. Dynegy also promoted Carolyn Stone to controller and senior vice president to replace Terry Hart, who left to pursue other interests. Stone, 33, most recently was controller of generation accounting. She joined Dynegy in 2001 as director of deal structure from PricewaterhouseCoopers.
Mirant Corp., a $4.5 billion energy company based in Atlanta, hired James Iaco Jr. as CFO and executive vice president. He succeeds M. Michele Burns, who will continue to serve as chief restructuring officer until Mirant emerges from Chapter 11, at which point she will leave the company. Iaco, 61, most recently was a private investor. From 1994 to 2000, he was CFO and president of the Americas division at Edison Mission Energy.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
