It looks like the New Year will be an important one for CFOs, as several companies have announced new plans for their corporate structures. Prominently among these new changes are the resignation of hhgregg Inc’s Jeremy J. Aguilar, and the hiring of former Microsoft CFO Peter Klein by talent agency William Morris.hhgregg
hhgregg Inc., the Midwest-headquartered appliance and electronics giant, has announced in a recent release that current CFO Jeremy J. Aguilar will be resigning effective Jan 31. Andrew S. Giesler has been named interim CFO while the company begins its search for Aguilar’s replacement. Aguilar rose through the corporate ranks during his tenure at hhgregg, becoming CFO in 2009 and supporting the company through some of its best years.
The retail company has been suffering from lowered sales throughout 2013, resulting in stock prices dropping and confidence lowering in the company’s overall market share. hhgregg will seek a replacement who can help guide the company into the future and breathe fresh life into their financial outlook.
William Morris Hires Former Microsoft CFO
Talent agency William Morris Endeavor Entertainment has announced the hiring of former Microsoft CFO Peter Klein to be their new CFO. Combined with the company’s previous announcement of the $2.3 billion acquisition of IMG Entertainment, big things are clearly in store at William Morris. Peter Klein served as Microsoft CFO from 2009 until June of 2013, when he resigned. He had been with Microsoft since 2002. He will be in charge of the financial dealings and strategies for both branches of the business when the acquisition becomes finalized.
William Morris expects the addition of Klein to help cement the new, larger company’s reputation for organizational effectiveness, strengthening the company at this critical time. Many industry experts predict large cost cutting measures at the new company, although nothing of the sort has been confirmed.
William Morris acquired IMG after a heated bidding war, and Klein has expressed excitement to be a part of this growing company.
These changes are sure to be only the tip of the iceberg as 2014 draws ever nearer.
What other big changes might be on the horizon for CFOs in 2014?