Limited Brands Inc., a Columbus, Ohio-based operator of specialty stores with $9.7 billion in annual revenues, promoted Ken Stevens to executive vice president and CFO. He replaces V. Ann Hailey, who became executive vice president of corporate development at the company. Stevens, 54, most recently served as CEO of Limited Brands' Express subsidiary and earlier was president of its Bath & Body Works chain, with responsibility for finance and planning, operations, store and field management, marketing and brand merchandising. Stevens has also served as chairman and CEO of the Bank One Retail Group and has held senior management positions at PepsiCo and served as a partner with McKinsey & Co.
CVS Corp., a $37 billion retail pharmacy based in Woonsocket, R.I., promoted Carol DeNale to vice president and corporate treasurer. DeNale, 42, who joined CVS in 1997, served most recently as assistant treasurer of the company. She succeeds Philip Galbo, who left the company to pursue other interests. Before joining CVS, DeNale worked for Waban Inc., the parent company for BJ's Wholesale Club.
Novelis Inc., a $7.8 billion aluminum maker based in Atlanta, named Rick Dobson senior vice president and CFO. Dobson, 47, joins the company from Aquila Inc., where he had served as CFO to the Kansas City, Mo.-based utility since 2002. He succeeds Geoff Batt, 58, who had been Novelis' CFO since the company's spin-off in January 2005 from Toronto-based Alcan Inc., the second-biggest aluminum company in the world. Batt, who came out of retirement to act as CFO for the spin-off, is going back into retirement.
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American Express Co., a New York-based provider of global payments, network and travel services with revenues of $24.3 billion, promoted David Yowan to senior vice president and corporate treasurer. He replaces Paul Hough, who assumes the role of senior vice president of service network partners, consumer, small business and merchant services. Yowan, 49, was senior vice president of treasury strategy and assistant treasurer at American Express, and treasurer of travel-related services. Previously, he was senior vice president of portfolio and risk management for the global consumer banking business of Citigroup Inc. Earlier in his career, Yowan was senior financial analyst with the Ayco Corp., then an American Express subsidiary.
Safeco Corp., a Seattle-based property and casualty insurance company with revenues of $6.4 billion, named Ross Kari executive vice president and CFO. Kari was selected after a five month search, and he replaces Christine Mead, who left the company in December. Since 2002 Kari, 47, had served as executive vice president and COO of the Federal Home Loan Bank of San Francisco, where he directed the bank's operational divisions, including financial management, sales and marketing and credit and collateral risk management. Prior to that, Kari had an 18-year career at Wells Fargo, where he started as a financial analyst and ended his tenure as executive vice president and CFO.
Xerox Corp. appointed Leslie F. Varon treasurer of the $14.8 billion document-equipment manufacturer based in Stamford, Conn. She replaces Harry Beeth, who is retiring from Xerox. Varon, 49, has been serving as vice president for finance and operational support for Xerox North America since October 2004. She joined Xerox in 1980 as a financial analyst and has held a number of operational and controller assignments since then. Beeth, 61, joined Xerox in September 2002 after retiring from IBM, where he'd worked for 32 years in a number of senior finance positions. Beeth, however, isn't giving up the finance game entirely: after retiring from Xerox, he'll become CFO of the U.S. Tennis Association.
RR Donnelley & Sons Co., an $8.4 billion printer based in Chicago, promoted Miles W. McHugh to senior vice president and corporate controller from CFO of RR Donnelley Logistics, the position he has held since 2004. He succeeds Michael J. Graham, who left the company to pursue a CFO opportunity elsewhere. Before joining RR Donnelley, McHugh served as controller at DPL Inc., a regional electricity and utility provider, and in a number of senior accounting positions for Mirant Corp., an Atlanta- based power company.
TIAA-CREF, a New York-based retirement asset manager with $380 billion under management, named Georganne C. Proctor executive vice president and CFO. Prior to taking on her current position, Proctor, 49, most recently was executive vice president of finance at Golden West Financial Corp., with $125 billion in assets, which is being acquired by Wachovia Corp. Prior to that, she was senior vice president, CFO and a member of the board of directors of the Bechtel Group Inc. Proctor assumes the position from Russell Noles, 48, who had been serving as acting CFO since May 2005. Noles returned to his role as senior vice president and head of internal audit.
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