- After a few weeks on the job
- Praise and good wishes for Massetti
- Search for a successor
(management-change.com) — Pittsburgh, Pennsylvania, January 24, 2017 — Anthony Massetti, finance chief of Black Box, leaves. As announced by Black Box Corporation in a news release and in a regulatory filing published on Tuesday, January 24, 2017, Anthony J. Massetti leaves the post as Chief Financial Officer at the provider of communications products in a surprising move after a few weeks on the job.
No company wants a CFO to flame out in the first weeks. It is expected that Massetti will remain in his current positions during a transition period.
Black Box will undertake a search for a successor.
The management change is explained as follows. Black Box said: “Anthony J. Massetti has informed the Company of his decision to resign as its Senior Vice President, Chief Financial Officer and Treasurer due to personal reasons regarding his relocation to the Pittsburgh area as originally contemplated.”
Black Box said: “On January 18, 2017, Anthony J. Massetti informed Black Box Corporation … of his decision to resign as Senior Vice President, Chief Financial Officer and Treasurer of the Company.”
“Not related to any issues”
“Mr. Massetti’s resignation is not related to any issues regarding financial disclosures or accounting matters,” Black Box said.
Precise information about the future plans of Massetti was not immediately available.
CEO: E.C. Sykes
E.C. Sykes serves as CEO of Black Box Corporation. Sykes joined Black Box as President and Chief Executive Officer on February 29, 2016.
On the job as CFO since 2016
Massetti joined Black Box as Senior Vice President, Chief Financial Officer and Treasurer on November 17, 2016.
Massetti previously was the Senior Vice President and Chief Financial Officer for Avaya.
At Avaya he was an integral part of the leadership team that transformed the company and improved its business model through expanding margins, driving working capital efficiency and identifying and implementing strategic investments.
He also integrated multiple acquisitions and brings strong capital markets experience.
Prior to joining Avaya, he was the SVP and Chief Financial Officer of NCR Corporation.
At NCR he had operational as well as financial responsibilities.
Prior to joining NCR, Anthony was CFO for QLogic Corporation and served as Vice President, Finance for SanDisk Corporation.
He started his career with IBM Corporation and steadily progressed through numerous finance leadership roles of increasing responsibility.
Massetti holds a B.B.A. in business administration from Pace University.
Read the full story in the management-change.com report 05.2017 ($).