September 16, 2016 |
The City of Chester on Wednesday appointed its first-ever chief financial officer, a position created just weeks after an economic consulting firm warned the troubled Delaware County city that it was in millions of dollars of debt - and at risk of doubling it if the city did not turn around its finances soon. Chester Councilman Nafis Nichols, 31, resigned from his seat on the five-person council, which he has held since 2012, to take the new position. He begins immediately. City Council and Mayor Thaddeus Kirkland appointed William Morgan, 25, a Chester resident who began working for the city in January as the director of purchasing, to take Nichols' seat.
May 13, 2016 |
The former chief financial officer of Visit Philadelphia, a taxpayer-funded tourism agency, pleaded guilty Wednesday to embezzling more than $200,000 from the organization over nearly seven years and using the proceeds for personal expenses including high-end restaurant meals, skin care, and furs. Joyce Levitt, 61, will be placed on three years' probation after pleading guilty to theft, receiving stolen property, and fraud, court records show. Dozens of forgery charges were dismissed as part of the plea, according to the records.
May 11, 2016 |
George J. Alburger Jr. is stepping down from his position as executive vice president and chief financial officer of Liberty Property Trust, the Malvern-based real-estate development company said in a release on Monday. Alburger will be replaced by Christopher J. Papa, who serves in that position at Post Properties Inc. of Atlanta, effective June 1, Liberty said. Alburger has served as Liberty's CFO since 1995 and will remain with the company in an advisory capacity and to assist with the transition until the end of the year, according to the release.
April 10, 2016 |
Momma may have said, "Never ask a lady about her age. " That goes double for Judith "Judee" von Seldeneck, chair and founder of Diversified Search L.L.C., one of the nation's largest executive search firms. In Philadelphia, some of the region's top executives - Vikram Dewan at the Philadelphia Zoo and former Tasty Baking CEO Charles Pizzi - got their jobs through Diversified, which von Seldeneck began in 1974. "I'm not going to tell you" my age, she said. "I've got a thing about that.
April 10, 2016 |
Comcast's new chief financial officer, Mike Cavanagh, knocked it out of the ballpark with compensation in 2015 of $40.6 million. He officially began his job as CFO on July 1. A former New York banking executive, Cavanagh earned more than Comcast chief executive Brian Roberts, who was compensated $36.2 million, and NBCUniversal CEO Steve Burke, with $33.7 million, according to the cable giant's regulatory filing, made Friday. Based on its national rankings, Bloomberg News said Cavanagh was the best-paid chief financial officer in the United States.
March 23, 2016 |
James G. Stewart, 73, of Bryn Mawr, former chief financial officer of Cigna Corp., died Saturday, March 5, of cancer at home. Mr. Stewart joined Connecticut General Life Insurance Co. in 1966. Sixteen years later in 1982, Connecticut General merged with the Insurance Co. of North America to form Cigna. Mr. Stewart held a variety of positions in the reinsurance, group insurance, group pension, individual life insurance, and investment operations. The year after the merger, Mr. Stewart was elected executive vice president and corporate CFO, a role in which he was responsible for Cigna's overall financial management.
March 17, 2016 |
Lax oversight by the city and negligence by the head of taxpayer-supported Visit Philadelphia enabled the nonprofit tourism agency's chief financial officer to embezzle $200,000 over nearly seven years, according to an investigative grand jury report released Wednesday. Joyce Levitt, 61, who worked for Visit Philadelphia from 2003 through 2012, including seven years as CFO, turned herself in Wednesday to face charges of theft, forgery, and fraud, Philadelphia District Attorney Seth Williams said.
January 29, 2016 |
Bruce W. Koch, 60, the chief financial officer at Starr Restaurants, died Tuesday, Jan. 26, at Einstein Medical Center after suffering a massive stroke Saturday morning at his home in East Mount Airy. In addition to overseeing the finances of Stephen Starr's extensive restaurant empire, Mr. Koch found the time to play bass in two local bands. "Bruce was a delightful guy - warm and generous and a great musician who had a passion for music," said David Thornburgh, president and CEO of the Committee of Seventy.
September 1, 2015 |
Mike Cavanagh, one of the nation's top banking executives at JPMorgan Chase and now Comcast Corp.'s new chief financial officer, says the Philadelphia company's biggest "enemy" is complacency, hoping that consumer trends won't change and that Comcast remains the big cable company. Comcast's destiny is "in our hands," Cavanagh said at the Comcast Center last week. He added, "All businesses have to modify their game to be relevant to millennials. " A protege of the legendary banker Jamie Dimon at JPMorgan, Cavanagh joined Comcast in May after Comcast lost its publicly deflating regulatory battle for Time Warner Cable Inc. He replaces the transformative CFO Michael Angelakis, who negotiated the successful deal for NBCUniversal and the abandoned takeover of Time Warner Cable.
August 12, 2015 |
A white Paulsboro municipal employee is suing several minority elected officials for what she describes as a racially charged attempt to oust her. The shake-up surrounding borough administrator LeeAnn Ruggeri's employment became public earlier this year, when she was removed from her role as interim chief financial officer after she did not complete the necessary classes to earn the certification required to remain in the post permanently. The borough's 2014 audit found that the interim CFO - who at the time was Ruggeri - did not properly maintain the general ledger, failed to reconcile bank accounts, and overspent accounts.