Jones Lang LaSalle


CFOs on the Move

Eli Lilly; Sun Microsystems; Raytheon; Lear; eBay; EDS; MTV Networks; First American; Boyd Gaming; Wachovia; Bear Stearns; Cartesis.

Lisa Yoon, CFO.com

February 24, 2006
• Charles E. Golden, executive vice president and chief financial officer of Indianapolis-based pharmaceutical giant Eli Lilly and Co., will retire from that position and from the board of directors, effective April 30. Golden joined Lilly in 1996 after 26 years at General Motors, where his roles included corporate treasurer in New York and president of the Vauxhall Motors division in England.

Vice president and controller Derica Rice will be promoted to senior vice president and CFO, effective May 1. Rice joined the company in 1990.

• Michael Lehman came out of retirement to return to his former post as chief financial officer of Sun Microsystems Inc. He succeeds Steve McGowan, who announced his retirement last October from the Santa Clara, California-based company. McGowan served as CFO and executive vice president of corporate resources since 2002.

Lehman held those same titles from 1998 to 2002; since then, he has served on Sun's board of directors in various capacities. He's also served as a business consultant while sitting on the boards of Echelon Corp., MGIC Investment Corp., and NetIQ Corp.; he'll surrender those board seats, with the exception of MGIC. Sun also announced that Robert Finocchio Jr. was elected a director and a member of the audit committee.

• Raytheon Co. tapped the chief financial officer of Lear Corp., David C. Wajsgras, to join the Waltham, Massachusetts-based defense company as senior vice president and chief financial officer, effective March 13. Wajsgras joined Southfield, Michigan-based Lear in 1999 as vice president and controller and became CFO in 2002. Until Lear names his successor, vice chairman James H. Vandenberghe will serve as interim CFO.

• Electronic Data Systems Corp. executive vice president and chief financial officer Robert Swan will join online auctioneer eBay as senior vice president of finance and CFO, effective March 16. Swan joined Plano, Texas-based EDS, a provider of IT outsourcing services, in 2004; previously he served as the finance chief of TRW and as a divisional CFO for General Electric Co. At San Jose, California-based eBay, Swan will succeed Rajiv Dutta, who will move into the new role of president of Skype, eBay's online voice communications business.

Meanwhile, EDS named treasurer Ron Vargo and vice president of finance administration Tom Haubenstricker interim co-chief financial officers, effective March 15. They will also retain their current roles while the company searches for Swan's successor.

• Colette Chestnut was named executive vice president and chief financial officer of MTV Networks, replacing John Cucci, who was promoted to the role of chief operating officer for the company's Comedy Central/Spike TV/TV Land Entertainment Group. Chestnut joined MTVN from advertising agency JWT, where she served as North American finance chief since 2000.