Chattem CFO Moss Resigns, Heads To Fortune 500 Company
This article was originally published in The Tan Sheet
Executive Summary
Chattem VP & CFO Rick Moss is departing two months after the resignation of President & COO Alec Taylor II
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Chattem VP & CFO Rick Moss is departing two months after the resignation of President & COO Alec Taylor II. Moss is resigning "to assume a leading treasury role with a Fortune 500 company," according to the firm's Nov. 22 8-K filing with the Securities & Exchange Commission. Current President & COO Bob Bosworth will serve in the interim while "the company evaluates its requirements for the CFO position," the document states. Bosworth has prior experience with the position: he served as Chattem CFO from 1985 to 1998. Moss informed the Chattanooga, Tenn.-based firm of his plans Nov. 16. He will remain in office until Dec. 16 to assist in the transition. "During Mr. Moss' tenure as CFO, the company has developed a very capable financial team that, together with Mr. Bosworth's financial expertise and experience, will facilitate continuity and an orderly transition of duties," Chattem states in the filing. Moss reportedly will take the position of treasurer at Sara Lee's branded apparel division. A Sara Lee spokesperson acknowledged only that the firm is searching for a treasurer for the division. Taylor, who resigned from his positions and the company's board in August, cited pursuit of "other business opportunities," as the reason behind his decision (1 (Also see "Former Chattem CFO Bosworth To Replace Taylor As President" - Pink Sheet, 29 Aug, 2005.), p. 9). The departure of Moss and Taylor occurs in the midst of what CEO Zan Guerry called Chattem's "two biggest launches" in one year, during a September analyst call (2 (Also see "Chattem Banks On “Best New Product Lineup” To Fuel 2006 Sales" - Pink Sheet, 26 Sep, 2005.), p. 8). The firm is rolling out its new Icy Hot Pro-Therapy line of knee and back support braces as well as its dandruff shampoo Selsun Salon (3 'The Tan Sheet' June 20, 2005, In Brief). Moss has been a part of the Chattem team since September 2002. He came to the firm with experience as VP & Treasurer of Sealy Corp., and has also held treasury/finance positions with Ansaldo Signal, Union Switch & Signal and GM/Saturn (4 'The Tan Sheet' Aug. 12, 2002, In Brief). - Melina Vissat |