CryoLife shores up its board with CFOs
BY EDITOR, DECEMBER 15, 2003
Any volunteers for the audit committee? With roughly three quarters of cash left (assuming the current cash burn rate doesn't subside) and sizeable bank and litigation payments looming, management has decided to put a couple of savvy CFOs on its board. These are solid guys.
Thomas F. Ackerman is Senior Vice President and Chief Financial Officer at Charles River Laboratories. He oversees the Accounting and Finance departments, as well as the Information Technology Group and Investor Relations. Mr. Ackerman has more than twenty-five years of combined accounting and international finance experience.
Dan Bevevino is Vice President and Chief Financial Officer at Respironics. Mr. Bevevino joined Respironics in 1988 and has served in a variety of positions with increasing responsibility in finance and accounting. Additionally, during his tenure at Respironics, Mr. Bevevino has been responsible for certain operating, sales and marketing activities.
Stacking the board with CFOs strikes us as a pretty sharp move at this stage in the company's struggle to survive.
