Novell Inc has named Dennis Raney as its new chief financial officer, making his interim title a permanent one. Raney has been acting CFO at Novell since March, when predecessor Jim Tolonen jumped ship after 15 years with the company (CI No 3,367). Raney was previously CFO at Bristol-Myers Squibb Co, General Magic Inc, California Microwave Inc, and QAD Inc. Before that, he served in various financial management positions at Hewlett-Packard Co, where he was employed for 23 years. Novell is hoping that his wealth of experience can keep them on the right financial track as it’s posted three consecutive profitable quarters since the cost cutting measures were implemented by incoming chief executive Eric Schmidt. Raney says that the expense controls and growing revenue at Novell should allow the company to continue delivering strong earnings. The consensus estimate of analysts surveyed by First Call is for earnings of $0.07 in the company’s current third quarter. Novell shares took little notice of the announcement, rising $0.125 on Tuesday to close at $10.3125.
