Sunoco Inc. (SUN) named Dell Inc. (DELL) executive Brian MacDonald as chief financial officer, replacing interim CFO Terence Delaney, who will pursue other opportunities.
Delaney took the job last fall after longtime finance chief Thomas Hofmann retired in a management shakeup at the second-largest U.S. independent oil refiner by volume after Valero Energy Corp. (VLO).
MacDonald, 43, will assume the post Aug. 10.
He most recently was finance chief of Dell's commercial business unit. Before taking that job last year, MacDonald was Dell's treasurer, leading the mergers and acquisitions organization and global treasury group. He previously worked at General Motors Corp. (GMGMQ).
In May, Sunoco said it swung to a first-quarter profit as its refining and supply business benefited from lower expenses. The company remains braced for a possibly difficult market for its refined products and chemicals and is going forward with cost-cutting measures.
Sunoco's shares recently traded at $21.85, down 1.8%, near their five-year low.
Source: wsj.com
Wednesday, July 8, 2009
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