$45.2 billion Lockheed Martin has named Christopher Gregoire vice president and controller, effective March 29. In his new position, Gregoire will lead the corporation’s accounting, financial planning & analysis, government finance, and tax functions.
Gregoire will succeed Acting Controller Mark Bostic, who will continue his position as vice president of accounting for the corporation after serving more than seven months in the capacity of acting controller.
Gregoire was previously the chief accounting officer and assistant controller for Sprint Nextel Corporation, where he led more than 100 finance professionals and was responsible for all external financial reporting and disclosures to the Securities and Exchange Commission, as well as other duties. Gregoire is a former partner of Deloitte & Touche, and also a former professional accounting fellow at the SEC.
$4.4 billion banking company KeyCorp has named Elizabeth Gile and Edward Stack to its board of directors, effective immediately.
Gile is a retired managing director of Deutsche Bank Americas Holding Corporation, where she focused on credit and credit risk management. She has been assigned to the risk-management committee.
Stack has served as chairman and chief executive officer of Dick’s Sporting Goods since 1984. He has been assigned to the audit committee.
The election of Gile and Stack increases the size of KeyCorp’s board to 16 members.
Deloitte Corporate Finance, the FINRA member subsidiary of Deloitte Financial Advisory Services, has hired Michael McArthur as a managing director, based in the firm’s Los Angeles office.
McArthur has more than 15 years of investment banking experience with a special focus on the healthcare industry. Prior to joining Deloitte, McArthur led the global healthcare corporate finance practice of a large investment bank, where he executed mostly middle market M&A and capital raise transactions. In addition to working at several large Wall Street investment banks, McArthur has worked at a variety of boutique investment banks where he focused on both public and private middle-market healthcare companies.
At Deloitte, McArthur will focus on mergers and acquisitions for large and small companies that primarily operate in the healthcare services sector. He will also focus on raising capital for similar companies, as well as providing fairness opinions.
In other news, Deloitte Financial Advisory Services has hired DeRobert “Barry” Wiggins as a director in its Analytic and Forensic Technology practice, based in Washington, D.C. Prior to joining Deloitte, Wiggins was a practicing attorney with 24 years of experience, having most recently worked at a global law firm, where he was in a senior leadership role in their e-Data practice group. He also previously worked for the United States Department of Justice Antitrust Division, and a boutique law firm specializing in anti-trust, intellectual property, and complex litigation and arbitration matters.
At Deloitte, Wiggins will focus on assisting clients in managing and conducting e-discovery readiness and compliance projects. In this role, Wiggins will offer practical advice centering on e-discovery issues in a variety of situations, including antitrust grand jury matters, Foreign Corrupt Practice Act investigations, large merger investigations, and complex civil cases.
$65.3 billion retail chain Target Corporation has appointed Wells Fargo & Company chairman, president, and CEO, John Stumpf, to its board of directors. He has not been assigned to any committee at this time.
Stumpf is a 28-year veteran at Wells Fargo, having joined the former Norwest Corporation (predecessor of Wells Fargo) in 1982. He was named CEO in June 2007, elected to Wells Fargo’s board of directors in June 2006, and has been president since August 2005. He became chairman at Wells Fargo in January 2010.
He will replace George Tamke, who retired from the board on March 9, having served on the board since 1999. Tamke is a partner at Clayton, Dubilier, & Rice, a private investment firm.
In other news, Target also announced that Richard Kovacevich, former Chairman and CEO of Wells Fargo & Company, intends to retire from Target’s board of directors on Dec. 31. Kovacevich has served on Target’s board since 1996.
Global Compliance, a global provider of comprehensive, integrated ethics and compliance solutions, has named Nick Ciancio as chief compliance officer. In addition to this new role, Ciancio will remain as president of GCS International.
Ciancio has extensive experience in the ethics and compliance industry. He is a member of the Leadership Council for the Open Compliance and Ethics Group; Society of Corporate Compliance and Ethics; and the Ethics & Compliance Officer Association. He also participates in industry forums, such as the Health Care Compliance Association and the Association of Certified Fraud Examiners, which focus on issues such as international data privacy, anti-corruption, and international business ethics.
With more than 25 years of experience in senior marketing and business development within the technology and telecommunications industries, Ciancio provides senior level counsel to many of Global Compliance’s clients. Since 2004, he has been a member of the Global Compliance leadership team, and is currently responsible for overseeing the company’s international sales efforts.
Prior to joining Global Compliance, Ciancio was vice president of Corporate Integration and Infrastructure Development at Yipes Enterprise Service. Earlier in his career he was chief marketing officer for Curiosity.com and served as vice president of New Product and Business Development for U.S. West Communications. Ciancio began his telecommunications career with Pacific Bell, where he served as director of marketing before being promoted to executive director of New Product Development. Before entering the telecommunications industry, Ciancio served as a mathematical statistician for the U.S. Department of Agriculture.
$21.8 billion drug maker, Eli Lilly and Co., said it plans to create four new senior-level ethics and compliance positions to further support the centralized global compliance and enterprise risk management function, the company said in a filing. The establishment of the new positions are part of a deal to settle two shareholder lawsuits over the improper marketing of numerous of its drugs.
When they are hired, all four of the new executives will report to Anne Nobles, Lilly’s chief ethics and compliance officer. The four new positions are:
- Vice president for global compliance strategy and risk management to assist in the development of global compliance strategy, partnering with senior leaders across Lilly to promote highly ethical and compliant behaviors, and addressing emerging regulatory and enforcement trends and enterprise-level risks.
- Vice president of global ethics and compliance officer, business liaison, to oversee the compliance function within the company and its various U.S.-based and international affiliates. This person also will be responsible for developing and implementing policies, procedures, and practices designed to promote compliance in that affiliate with applicable law or requirements regarding applicable healthcare programs.
- Senior director of enterprise risk management, who shall report to the vice president of global compliance strategy and ERM, and shall assist the chief ethics and compliance officer in administration of enterprise risk management at the company; and a
- Project manager to assist in the implementation and monitoring of policies, procedures, and practices designed to promote compliance with the company’s obligations.
In 2009, Lilly paid $1.4 billion, including a $515 million fine,—the largest criminal fine ever imposed on a U.S. corporation—over the illegal marketing of the antipsychotic drug Zyprexa. The company also pleaded guilty to a misdemeanor and agreed to additional oversight to resolve a 5-year-old federal investigation. Federal enforcement officials also charged Eli with improperly marketing its osteoporosis drug, Evista, and its antidepressant, Prozac.
$1.1 billion Trimble, a wireless technology solutions provider based in Sunnyvale, Calif., has appointed Mark Peek to serve on its board of directors, effective immediately. He has not yet been appointed to serve on any committee.
Peek is CFO at VMware, a provider of business infrastructure virtualization solutions. He has more than 25 years of industry experience, including the roles as senior vice president and chief accounting officer at Amazon.com. Prior to joining Amazon.com in 2000, Peek was an audit partner at Deloitte, where he focused on technology companies and multinational project and engagement management.
$32 billion home and auto insurer Allstate has hired Peruvemba Satish as managing director and chief risk officer. He will report to Judy Greffin, senior vice president and chief investment officer.
With nearly a decade of risk-management experience in the hedge fund industry, Satish joins Allstate most recently from Jamison Capital Partners, a New York-based hedge fund firm, where he served as chief risk officer. From 2004 to 2009, Satish was chief risk officer and a member of the investment committee at hedge fund firm DKR Capital Partners. Prior to that, he was director of risk management at Soros Fund Management from 2001 to 2004.
$2.4 billion Albemarle Corp, a provider of highly engineered specialty chemicals, has appointed Nicole Daniel as vice president, chief compliance officer, and corporate secretary, effective immediately. She also will continue in her current role as assistant general counsel.
Daniel has served as assistant general counsel and assistant corporate secretary of Albemarle since January 2008. She joined the company in November 2002. Previously, Daniel served as an associate with Hunton & Williams, as well as an associate at Woods Rogers.
$6.8 billion WellCare Health Plans has hired Blair Todt as senior vice president and chief compliance officer, effective in early April. Todt will report to CEO Alec Cunningham and the regulatory compliance committee of the board of directors.
Todt previously was senior vice president, general counsel, and secretary for healthcare provider MedCath Corporation. Prior to joining MedCath in 2006, Todt served as deputy general counsel, compliance and litigation at BearingPoint, where he was a member of the compliance steering committee and participated in the formation of the office of chief compliance officer.
Earlier in his career, Todt was a partner at Carter, Conboy, Case, Blackmore, Maloney, and Laird, where he advised corporations on appropriate compliance and ethics programs. He also served as a law clerk to United States District Judge Con G. Cholakis in the Northern District of New York.