IRIS International, a manufacturer of automated in-vitro diagnostics systems, has announced that corporate vice president and chief financial officer (CFO) Peter Donato has resigned. Donato has served as CFO of IRIS since August 2007. Martin McDermut, a financial executive who previously served as CFO of IRIS from 1995 to 1999, has joined the company as acting CFO while the company initiates a search for a permanent replacement, for which it has engaged a nationally recognised executive recruiting firm.
McDermut has provided CFO and interim management advisory services since 2007. Since 1 January 2009, he has been managing director of Avant Advisory Group, a financial advisory and management consulting firm to entrepreneurial and middle market companies. Prior to this, McDermut provided financial and management consulting services to various clients as principal of his own financial consulting firm. From February 2000 to March 2006, he was senior vice president, CFO and secretary of Superconductor Technologies, a wireless equipment manufacturer and publicly traded company.
McDermut earned a MBA in finance and accounting from the University of Chicago Graduate School of Business and a bachelors in economics from the University of Southern California. He is a licensed certified public accountant (CPA), member of the American Institute of Certified Public Accountants (AICPA), the California Society of Certified Public Accountants, Financial Executives Institute, and the Alliance of Merger & Acquisition Advisors.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.