Wiley Picks a CFO
Jun 3rd 2013 9:40PM
Updated Jun 4th 2013 7:10AM
Hoboken-based John Wiley & Sons is slated to lose its chief financial officer when Ellis Cousens, current CFO and also chief operations officer, retires at the end of fiscal 2014. Rather than wait for that event, though, Wiley announced Monday that it is going ahead and naming a new CFO now.
John Kritzmacher, former CFO of Lucent Technologies and Global Crossing, will become Wiley's executive vice president and chief financial officer, effective July 1. He will be responsible for all of Wiley's global finance functions and activities, business development, mergers and acquisitions, and investor relations. Cousens, meanwhile, will stay on at the company until retiring, overseeing "certain global operations" and also the company's $80 million restructuring program until that time.
In his past roles at Lucent and Global Crossing, Kritzmacher helped shepherd both companies into sales -- Lucent to Alcatel in 2006, and then Global Crossing to Level 3 in 2011.
Calling Kritzmacher "the perfect fit for Wiley," company CEO Steve Smith praised the new hire's "extraordinary track record of accomplishment and leadership in the areas of mergers and acquisitions, capital and strategic management, accounting and financial controls, restructuring, turnarounds, operations management, and investor relations."
Going forward, however, investors will probably be focusing primarily on his track record in the M&A field in particular.
The article Wiley Picks a CFO originally appeared on Fool.com.Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.