Financial Executives International Announces Resignation of Michael Cangemi as President...

Financial Executives International Announces Resignation of Michael Cangemi as
President and CEO
Former FEI Chairman Jim Abel to Serve Position in Interim

FLORHAM PARK, N.J., June 6 /PRNewswire/ -- Financial Executives
International (FEI), the preeminent association for financial executives,
today announced the resignation of Michael P. Cangemi, CPA as president and
CEO.
"Financial Executives International has my utmost respect and admiration.
Returning to my professional practice at this time is purely a personal
decision," said Cangemi. "I have thoroughly enjoyed my time with FEI, and I
would like to thank FEI's membership, its board, and its incredible staff and
volunteer leadership for allowing me the opportunity to work with one of the
most outstanding organizations for the financial community. I look forward to
using my expertise with accounting policy issues to continue to stay active
with FEI."
"In the time he has been with us, Michael has made significant
contributions to FEI and the Financial Executives Research Foundation," said
Alexis Dow, FEI Chairman. "We applaud his work and wish him the best in the
future. We look forward to his continued involvement with FEI."
Mr. Cangemi will stay on as president and CEO through the end of the
fiscal year, June 30, 2008. He will also continue in a role as senior advisor
for FEI, with a focus on accounting policy issues and associated advisory
councils.
FEI will soon commence the search to identify a new president under the
direction of Richard Schrader, FEI Chairman, 2006-07 and executive vice
president & CFO, Parsons Brinckerhoff. In the interim, former FEI Chairman Jim
Abel has agreed to serve as acting president and CEO to help provide guidance
and oversight of FEI and FERF activities. Mr. Abel has dedicated over 26
years of service to FEI. In addition to serving as Chairman from 1998-99 he
has held a number of National roles with FEI and has also served as president
of the Northeast Ohio Chapter. Mr. Abel recently retired as executive vice
president and CFO of Lamson & Sessions, a Cleveland-based manufacturer of
building and construction products.
About FEI
Financial Executives International is the leading advocate for the views
of corporate financial management. Its 15,000 members hold policy-making
positions as chief financial officers, treasurers and controllers. FEI
enhances member professional development through peer networking, career
management services, conferences, teleconferences and publications. Members
participate in the activities of 85 chapters, 74 in the U.S. and 11 in Canada.
Visit http://www.financialexecutives.org for more information.
SOURCE Financial Executives International

Nicole Madison of FD, +1-212-850-5647, Nicole.Madison@fd.com; or Lili DeVita
of FEI, +1-973-765-1021, ldevita@financialexecutives.org