Wednesday, March 29, 2017

Itron Loses CFO

Liberty Lake-based smart utility meter maker Itron said on Tuesday that Mark Schmitz, the company's Executive Vice President and Chief Financial Officer (CFO), is stepping down from his position, "effective immediately." The reason for the sudden departure was not announced. Itron said it has appointed Robert Farrow, its current Vice President, Strategic Planning and Treasury, as Interim CFO, and engaged a search firm to locate a new CFO for the company. Itron said Schmitz will remain available for one month to ensure a smooth transition and first quarter accounting close.