FLORHAM PARK, N.J.
FLORHAM PARK, N.J., June 6 /PRNewswire/ -- Financial Executives International (FEI), the preeminent association for financial executives, today announced the resignation of Michael P. Cangemi, CPA as president and CEO.
"Financial Executives International has my utmost respect and admiration. Returning to my professional practice at this time is purely a personal decision," said Cangemi. "I have thoroughly enjoyed my time with FEI, and I would like to thank FEI''s membership, its board, and its incredible staff and volunteer leadership for allowing me the opportunity to work with one of the most outstanding organizations for the financial community. I look forward to using my expertise with accounting policy issues to continue to stay active with FEI."
"In the time he has been with us, Michael has made significant contributions to FEI and the Financial Executives Research Foundation," said Alexis Dow, FEI Chairman. "We applaud his work and wish him the best in the future. We look forward to his continued involvement with FEI."
Mr. Cangemi will stay on as president and CEO through the end of the fiscal year, June 30, 2008. He will also continue in a role as senior advisor for FEI, with a focus on accounting policy issues and associated advisory councils.
FEI will soon commence the search to identify a new president under the direction of Richard Schrader, FEI Chairman, 2006-07 and executive vice president & CFO, Parsons Brinckerhoff. In the interim, former FEI Chairman Jim Abel has agreed to serve as acting president and CEO to help provide guidance and oversight of FEI and FERF activities. Mr. Abel has dedicated over 26 years of service to FEI. In addition to serving as Chairman from 1998-99 he has held a number of National roles with FEI and has also served as president of the Northeast Ohio Chapter. Mr. Abel recently retired as executive vice president and CFO of Lamson & Sessions, a Cleveland-based manufacturer of building and construction products.
Financial Executives International is the leading advocate for the views of corporate financial management. Its 15,000 members hold policy-making positions as chief financial officers, treasurers and controllers. FEI enhances member professional development through peer networking, career management services, conferences, teleconferences and publications. Members participate in the activities of 85 chapters, 74 in the U.S. and 11 in Canada. Visit http://www.financialexecutives.org/ for more information.
SOURCE: Financial Executives International
CONTACT: Nicole Madison of FD, +1-212-850-5647, Nicole.Madison@fd.com;
or Lili DeVita of FEI, +1-973-765-1021, firstname.lastname@example.org
Web site: http://www.financialexecutives.org/