Caremark Finance Alum Selected To Replace Bill Noon As CFO, Effective Immediately

Well -- the handwriting was on the wall, at the end of May -- when Mr. Noon's contract was renegotiated, to add beefed-up litigation defense/cooperation duties, even if terminated, and to drop his payouts on termination. [I am sorely tempted to observe that this resignation is one rung too low, on the totem pole -- given that the CEO is a former CPA, and should ALSO know how to properly book preferred repurchase, and dividend, obligations.]

It is interesting that Mr. Noon stays on as VP of Finance -- and it is interesting that the new CFO was an alum of Caremark -- at least historically, one of Mattersight's largest customers. Here is the presser:

. . .Mark Iserloth has joined the company as Vice President and Chief Financial Officer, effective immediately. Mr. Iserloth, who brings more than 25 years of finance, business development, strategy, and operations experience, will be responsible for finance, accounting, human resources, and administrative functions for Mattersight. Mr. Iserloth replaces Bill Noon, who has served as CFO since February 2009 and will continue at Mattersight as Vice President of Finance.

Prior to joining Mattersight, Mr. Iserloth was Chief Financial Officer of Trustwave Holdings, Inc., a rapidly growing, leading provider of cloud-based compliance and information security solutions, where he was responsible for finance and human resources. Prior to joining Trustwave, Mr. Iserloth was Chief Financial Officer of Initiate Systems, Inc., a leader in the master data management space. Mr. Iserloth holds an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University and a Bachelor of Science in Electrical Engineering from Northwestern University. . . .

The incoming CFO looks to have managed "explosive growth" situations. Didn't CEO Kelly Conway tell the world on May 10, 2012 not to expect much or any sales growth at Mattersight for the next few quarters? Yes, in fact -- he did. Not sure why they need this sort of a CFO today, then.

In addition, to complete the record -- here is the last sale Mr. Noon transacted in Mattersight's common stock (he sold the shares back to the company, privately) -- to pay his taxes on equity grants, last month.