Nasdaq OMX Group, the exchange with $3.2 billion in 2010 revenue, named Lee Shavel CFO and executive vice president of corporate strategy. He replaces Adena Friedman, who left to join Carlyle Group. Shavel, 44, is joining Nasdaq from Bank of America Merrill Lynch, where he was Americas head of financial institutions investment banking. Earlier, he served as head of finance, securities and technology, and global chief operating officer for the financial institutions group at Merrill Lynch.
Paychex, the $2 billion payroll services company in Rochester, N.Y., named Efrain Rivera CFO, treasurer and senior vice president. He succeeds John Morphy, who is retiring. Rivera, 54, has been vice president of finance and administration at Houghton College since 2009. Previously, he was CFO at Bausch & Lomb for two years. Rivera also served as Bausch & Lomb's treasurer and as president of its Canada and Latin America division during his 20 years with the company.
Heartland Payment Systems, a $1.8 billion payment processing services company in Princeton, N.J., named Maria Rueda CFO. She replaces Robert Baldwin Jr., who remains the company's president. Rueda, 54, is joining Heartland from ING Direct USA, where she has been CFO since 2006. Earlier, Rueda spent five years as CFO and financial and operations principal for Bloomberg Tradebook and was CFO for the North American operations of Electra Partners.
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Educational Testing Services (ETS), the Princeton, N.J. company that administers standardized tests, promoted Jack Hayon to CFO. He replaces Frank Gatti, who retired in May. Hayon, 55, was previously the company's vice president of finance. Before joining ETS in 2003, he worked for The New York Times Co. as vice president of corporate internal audit and as vice president of finance at a subsidiary, The Boston Globe. ETS had revenue of $1.3 billion last year.
Crocs, the Niwot, Colo.-based shoemaker with $789 million of 2010 revenue, named Jeff Lasher CFO. He had served as interim CFO since December, when Russell Hammer resigned to join Orbitz Worldwide. Lasher, 46, had been Crocs' controller since 2009. Earlier, he was a senior consultant at Connelly Consulting, a financial services company, spent three years as controller for Corporate Express and served as vice president of finance at AutoNation from 2000 to 2005.
QLogic, a computer networking equipment company in Aliso Viejo, Calif., named Jean Hu CFO and senior vice president. She replaces Douglas Naylor, who served as CFO since October, when Simon Biddiscombe was promoted to CEO. Hu, 47, had been CFO and senior vice president of business development at Conexant Systems since 2008. She had worked at Conexant and its predecessor, Rockwell International, since 1997, including a stint as treasurer. QLogic had $549 million in 2010 revenue.
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