David Wajsgras was named CFO and senior vice president of Raytheon Co., a $21.9 billion defense contractor based in Waltham, Mass. He succeeds Biggs Porter, who was Raytheon's acting CFO since April 2005. Porter will remain Raytheon's controller and vice president. Most recently, Wajsgras, 46, was CFO and executive vice president of Lear Corp., a $17 billion supplier of automotive interior products based in Southfield, Mich. Prior to joining Lear in September 1999 as controller and vice president, Wajsgras was corporate controller for Engelhard Corp. and held various financial positions at Honeywell International Inc.
Lear Corp. named vice chairman James Vandenberghe its interim CFO. Vandenberghe, 56, joined Lear Siegler Inc., the predecessor of Lear Corp., in 1973 as a financial analyst and has held financial and general management positions since then, including CFO and vice president of finance, secretary and chief operating officer.
Michael Lehman was named CFO of Sun Microsystems Inc., an $11 billion maker of UNIX-based servers based in Santa Clara, Calif. He succeeds Steve McGowan, who announced his resignation as CFO in October 2005. McGowan will remain with the company serving as senior vice president of finance. Most recently, Lehman, 55, had been a business consultant and also served on the boards of directors for Echelon Corp., Sun Microsystems, NetIQ Corp. and MGIC Investment Corp. Lehman will remain a director on the board of MGIC Investment. From 1998 to 2002, he served as CFO and executive vice president of corporate resources at Sun Microsystems.
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Weyerhaeuser Co. named Patricia Bedient senior vice president of finance and strategic planning, a newly created position, and Jeanne Hillman corporate controller. Bedient, 52, most recently was vice president of strategic planning for the $22.6 billion forest products provider, based in Federal Way, Wash. Before she joined the company in 2003, Bedient spent 27 years at Arthur Andersen LLP, where she served as managing partner in the Seattle office and partner in charge for the firm's forest products practice. Hillman will retain her current role as chief accounting officer and vice president, a position she has held since January. She succeeds Steven Hillyard, who is retiring. Hillman, 46, previously served as assistant treasurer after joining the company in 1984. Earlier, she worked at Ernst and Whinney.
Tesoro Corp., a $16.5 billion oil refiner and marketer based in San Antonio, Tex., named Otto Schwethelm vice president of finance and treasurer and G. Scott Spendlove controller and vice president. Schwethelm and Spendlove both swapped positions. Schwethelm, 51, had been controller since 2003. After he joined the company in 1998 as a manager of economics for the supply and optimization unit, he held various positions, including vice president of operations, controller and vice president of shared services of Tesoro Petroleum Cos. Spendlove, 42, joined the company in 2002 as vice president of finance and took on the additional role of treasurer in 2003. Earlier, he served as vice president of corporate planning and investor relations of Ultramar Diamond Shamrock Corp.
Freddie Mac, a government-sponsored mortgage finance company based in McLean, Va. with $32.6 billion in 2004 sales revenue, named James Egan controller, principal accounting officer and senior vice president. He succeeds John Woods, who left the company in October 2005 to be corporate controller of Washington Mutual Inc. Egan, 53, most recently was controller and executive vice president of MBNA America Bank, a subsidiary of MBNA Corp., since joining the company in February 2003. From 1996 to 2003, he served as director of tax and senior vice president of finance for U.S. Bancorp. Earlier, he held various finance and accounting positions at First Chicago NBD Corp. and worked as an accountant for Price Waterhouse and Grant Thornton LLP.
Wachovia Corp., a financial service provider based in Charlotte, N.C. with $26.1 billion in sales revenue, named James Burr corporate treasurer. He replaces Thomas Wurtz, who was promoted to CFO in January. Burr, 40, most recently was assistant treasurer. After he joined the bank in 1991, he served as controller for the corporate and investment bank division and as mortgage finance accounting manager for the structured products division. Previously, he was a public accountant at Ernst & Young LLP, where he focused on banking and computer audits.
Schering-Plough Corp., a $9.5 billion drug maker based in Kenilworth, N.J., named Steven Koehler controller and vice president. He replaces Douglas Gingerella, who was named vice president. Koehler, 55, most recently was CFO, treasurer and senior vice president of The Medicine Co. after serving as corporate secretary. Earlier, he held finance positions, including CFO and vice president at Vion Pharmaceuticals Inc., and vice president of finance for the Americas operations at Knoll Pharmaceuticals Co., a unit of BASF. Koehler started his career at Arthur Andersen LLP as an auditor.
Owens-Illinois Inc., a $7.2 billion maker of glass containers and healthcare packaging based in Toledo, Ohio, named Stephen Bramlage Jr. treasurer and vice president. He succeeds Jeffrey Denker, who retired in September 2005. Bramlage, 35, recently was assistant treasurer of PPG Industries Inc. After he joined PPG as manager of the European treasury and global foreign exchange division, he served as director of finance for the coatings and controllership group. Earlier, he worked at Eli Lilly & Co., where he held global treasury positions.
Dana Corp., an $8.9 billion supplier of automobile parts based in Toledo, Ohio, hired managing director Kenneth Hiltz of AlixPartners LLC, a corporate restructuring firm, as its CFO after the company filed for Chapter 11. He replaces Robert Richter, who is retiring. Hiltz, 53, had previously served as CFO of Foster Wheeler Ltd., chief restructuring officer and CFO of Hayes Lemmerz International Inc. and CFO of Joy Global Inc.
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