There’s an infamously perplexing plethora of songs about the month of September, thanks to artists as disparate as Green Day, Earth, Wind & Fire, and Fiona Apple. Another strange abundance for this transitional month? CFO mixups.
Location, location, location. In the era of remote work, location can still be make-or-break for a job—even for CFOs.
Retailer Shoe Carnival announced on September 25 that its CFO, Erik Gast, left the company, effective immediately. Location was partly to blame. In a filing with the US Securities and Exchange Commission, the company said it had wanted the CFO to “spend substantially more time working from the company’s Evansville, Indiana, headquarters, and Mr. Gast was not supportive of this change.”
Instead, Patrick Edwards, who has worked at Shoe Carnival since 2019, will take over as CFO, while also serving as a SVP and secretary and treasurer, per the filing. Before joining Shoe Carnival, Edwards worked for more than 20 years in finance roles within the utility sector. He’s also served as a public accountant.
Salary: $366,000 annual base
Taking flight. United Airlines named Michael Leskinen to the CFO seat, effective September 21, according to a company filing. He’s replacing outgoing EVP and CFO Gerald Laderman, who told the company in May that he would be retiring next year.
Leskinen has served in a variety of roles since joining United in 2018, including as VP for investor relations and corporate development and as president of the subsidiary group that “leads United’s corporate venture capital efforts related to sustainable aviation,” per the filing.
“With two decades of experience on Wall Street and five years as a leading finance executive at United, Mike brings a unique understanding of the public markets combined with an in-depth understanding of our airline and our industry,” United CEO Scott Kirby said in a statement. “He is the best person to help us drive a culture within our finance team that’s focused on moving fast, hitting our targets with no excuses, and being disciplined about capital and cost decision-making that supports our United Next plan.”
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Salary: $700,000 annual base, short-term target incentive compensation opportunity equal to 120% of base, long-term incentive compensation opportunity in 2024 equal to 350% of base.
The sound of music. Warner Music Group plucked a Disney Entertainment CFO, Bryan Castellani, as its next finance chief effective October 16, according to a company filing. Warner Music’s current CFO, Eric Levin, will stay in his post until his January retirement “to ensure a smooth transition,” according to a company press release.
Castellani spent over two decades at The Walt Disney Company. During that time, he served as EVP of finance for Disney Media and Entertainment Distribution, as well as EVP and CFO of ESPN. He was also SVP of corporate financial planning and analysis for Disney, a position that saw him working closely with CFO teams.
Salary: $1,100,000 annual base, $1,100,000 target annual cash bonus, $2,200,000 restricted stock starting in January 2024, $1,100,000 one-time signing bonus.
Permanent post. Interim CFOs of the world, rejoice: Sometimes, that infamously temporary role turns into a permanent gig.
Lands’ End named Bernard McCracken, who’s been interim finance chief since January, as its new permanent CFO, according to a press release. The announcement culminates a search to replace former CFO Jim Gooch, who stepped down earlier this year.
McCracken’s time as interim CFO is ultimately what qualified him for the long-term role. “Having worked closely with Bernie over the past eight months, I am confident that his appointment best positions Lands’ End to execute on our strategic goals and drive profitable growth,” CEO Andrew McLean said in a statement.
In addition to serving as interim CFO, McCracken had served as Lands’ End’s VP, controller and chief accounting officer, per a press release. Before his time with the digital retailer, he held different finance positions at companies including The Children’s Place and Loehmann’s Inc., among others.
Salary: Base salary $525,000, with long-term annualized incentive opportunities of up to 110% of base salary.