It’s officially summer—and CFOs are changing posts as much as the early season, impossible-to-predict weather. But amid these mixups, CFOs don’t feel especially optimistic: Only 34% of CFOs think the economy is “good now,” according to a recent Deloitte report. The CFOs surveyed weren’t too hopeful about the near future either, but at least these new hires have something to celebrate.
Sneakers to pizza. Papa John’s International hired Ravi Thanawala as CFO, a post he’ll take over from Chris Collins, who served in the role on an interim basis after Ann Gugino resigned in March. Thanawala’s tenure will begin on July 24, after which Collins will resume his role as VP of tax and treasury, according to an SEC filing.
Prior to his new appointment, Thanawala served from 2020 as CFO for Nike North America, the retailer’s largest division, with fiscal year 2022 revenue of approximately $18 billion, according to a Papa John’s release. He was at Nike for about seven years, during which he also served as global VP of retail excellence, monitoring the brand’s performance across franchises and licenses.
Salary: $600,000 base, $825,000 signing bonus, and approximately $1.75 million in restricted stock.
In the cards. Visa appointed Chris Suh as CFO, replacing longtime CFO Vasant Prabhu. Suh will initially serve as CFO designate from July 10 to August 1 before assuming full responsibility, per a company release. After helping with the transition, Prabhu will leave Visa at the end of September.
Suh has deep roots in the world of tech. Most recently, he served as CFO at video game company Electronic Arts. Before that, he held a variety of senior finance roles at Microsoft, for a tenure of over 25 years, according to Visa’s release. During that time, he played “a critical role” in Microsoft’s growth as a cloud-oriented company, per the release.
Salary: $900,000 base, eligible for $1.58 million–$3.15 million annual bonus, $3 million one-time cash award, $9 million long-term award, $11 million in restricted stock
Internal switch-up. American Express CFO Jeff Campbell will step down on August 14, and Christophe Le Caillec, who’s currently deputy CFO, will take over, according to a release from the company. Campbell, who’s been at Amex since 2013, will stay on as vice chair of the board until March 2024. Previously, Campbell served as CFO of McKesson and American Airlines, per the release.
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Le Caillec, meanwhile, has worked at Amex for over 25 years in different finance roles, playing a “critical role in the company’s success as a trusted partner to many senior leaders across the company, including the executive committee,” per the release.
Salary: TBA
Promotions galore. Discount chain Five Below appointed Kristy Chipman to the CFO post, which will become effective July 17, according to a company release. Chipman will take over the reins from Ken Bull, who has now assumed the role of chief operating officer. Prior to joining Five Below, Chipman served in financial leadership roles at various food and consumer-oriented brands, including McDonald’s, Domino’s Pizza, and Orangetheory Fitness. Most recently, she served as CFO, executive VP and COO at Ruth’s Chris Hospitality Group.
Salary: $600,000 base, with target payout under Five Below’s annual incentive plan equal to 75% base pay
Wellness check. Dallas-based Tenet Healthcare named Sun Park as its CFO, where he’ll replace Dan Cancelmi, who’s retiring at the end of the year. Park will initially serve as executive VP from July 11 to December 31, before fully taking on the CFO role at the start of next year, per a company release.
In his most recent role, Park served as CFO for AmerisourceBergen, a position he held since 2018. In that time, he was responsible for commercial and operational finance for the company’s global business units, which, per a Tenet release, “represents over $240 billion in annual revenues and serves health care providers, manufacturers, and patients.” Before AmerisourceBergen, which he first joined in 2012, Park held leadership roles at various biotech and pharmaceutical companies, according to the release.
Salary: $700,000 base, $1 million signing bonus, target cash bonus award at 100% of his salary, $1.67 million in restricted stock