Posted tagged ‘CFO’

Police Find Freddie Mac CFO Dead

April 22, 2009

David Kellermann, the acting chief financial officer of money-losing mortgage giant Freddie Mac was found dead at his home this morning in an apparent suicide.

From the Associated Press:

Mary Ann Jennings, director of public information for the Fairfax County, Va., Police Department, said Kellermann was found dead in his suburban Virginia home. The police would not say if a suicide note was found.

Kellermann, 41, lived in Hunter Mill Estates, a well-off neighborhood of large single-family homes with manicured lawns. County records show Kellermann’s home is worth about $900,000.

He worked for Freddie Mac for the past 16 years and was named acting chief financial officer last September when the government seized control of the company to keep it from failing. Freddie Mac lost more than $50 billion last year, and the government has pumped in $45 billion to keep the company afloat.

Freddie Mac, which owns or guarantees about 13 million mortgages, has been criticized for financing risky mortgage loans that fueled the real estate bubble.

News of Kellermann’s death came as a shock to employees of the McLean, Va.-based company, with those who knew Kellermann tearing up on Wednesday morning and a quiet mood prevailing.

Early Wednesday, Sharon McHale, a Freddie Mac spokeswoman, said senior executives at the company heard the news on local radio before going to work. “It’s just so awful,” she said.

mBlox Selects Ken Elmer as New Chief Financial Officer

August 21, 2008

Client mBlox, the world’s largest mobile transaction network, today announced that Ken Elmer has joined the company as its chief financial officer (CFO). As CFO, Elmer will be responsible for leading the global finance, human resources, and facilities functions of the company.

mBlox specializes in providing operator connectivity and mobile billing capabilities to businesses around the globe. The company is the intermediary between businesses and mobile operators managing the delivery and billing of mobile content and mobile services. mBlox maintains a unique position in the mobile value chain as the only company to focus its resources on the commercial and technical complexities of mobile billing and mobile message delivery.

“mBlox is experiencing tremendous growth as more and more businesses around the world are using SMS text messaging for their mobile marketing, mobile entertainment and mobile business needs,” said Jeff Clark, CEO of mBlox. “Ken has led finance teams in companies ranging from a small angel investor-backed private business to several large subsidiaries within a multi-billion dollar public entity. His proven skills will allow mBlox to continue to provide the highest level of quality and service to our global customer base.”

Previously, Elmer was the senior vice president of finance and administration for Tiburon, Inc. where he successfully aided the strategic focus of the management team on a product retooling while driving the successful negotiation of two of the largest services contracts in the company’s history. Prior to Tiburon, Elmer was a division level chief financial officer at Pacific Bell and Pacific Telesis Group, and CFO at Visionael Corporation, The MapFactory and TCSI, Inc. At TCSI, Elmer stepped into the CEO position, working with the board, to pursue an exit strategy which resulted in a successful acquisition by Rocket Software in 2003.

Ken Elmer, CFO, mBlox

Ken Elmer, CFO, mBlox

“I am delighted to work for a strong international company that has established itself as the global leader for delivery and billing with expertise in markets around the world,” said Elmer. “mBlox has an enormous amount of opportunity in this industry and I am looking forward to the challenge of helping to take the company to the next level of success.”

Elmer graduated magna cum laude with a bachelors in business administration from the University of North Texas and is a certified public accountant.