Polachi Taps CFO for NewStore
January 11, 2016 – Executive recruiter Polachi Inc. has placed Joel Abdinoor as chief financial officer of NewStore, Inc. He will oversee finance and operations while working across the organization to optimize the business for growth. Charley Polachi, managing partner, led the assignment.
Mr. Abdinoor is an experienced leader in building, restructuring, transforming and increasing the profitability of companies in a diverse range of life cycle including start-up, high growth and market & product expansion. He was previously vice president of finance at DataXu, where he led the finance and accounting teams globally.
“My team and I have been assisting technology companies in the Boston area find the right talent to help grow their businesses for more than 30 years. We were so happy to help NewStore find an exceptional talent in Joel Abdinoor,” said Mr. Polachi.
Headquartered in Boston, NewStore provides a mobile retail platform that boots conversion, promotes engagement, unifies online and offline, and modernizes fulfillment.
Mr. Polachi has a long history of placing CFOs at technology, clean tech, private equity and venture capital companies. In the last eight months, he has recruited CFOs for cloud-based healthcare IT solutions providers Park Place International, and MAM Software, a provider of on-premise and cloud-based business management solutions for the auto parts, tire and vertical distribution industries.
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According to recent research, about one fifth of companies change their CFOs annually, and the market for financial officers talent has become increasingly competitive over the past year — with the best candidates often considering multiple opportunities at any one time.
Tightening talent pipelines are edging up CFO pay packages, according to recruiters, making the hunt for CFOs one of the more lucrative areas of the headhunting business.
Some leading CFOs, like Kathryn Mikells, newly named CFO to premium drinks business Diageo in London, are so in demand that multiple offers have resulted in multiple CFO postings over a short period of time: Ms. Mikells has held five public company CFO chairs in the last five years at companies all considered leaders in their field, including Xerox, ADT, NALCO, and United Airlines, in addition to her recent posting at Diageo.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media
