ELMIRA — Hardinge Inc. (NASDAQ: HDNG) announced that its board of directors has appointed Douglas J. Malone as vice president and chief financial officer, replacing Edward J. Gaio, who was named vice president of business development.
Malone and Gaio will both report to Richard L. Simons, chairman, president, and CEO of Hardinge, an Elmira–based, global manufacturer of metal-cutting tools. The appointments went into effect Wednesday, Dec. 11, the company said.
Prior to his new post, Malone, age 48, served as the company’s corporate controller and principal accounting officer since joining Hardinge in July 2008. Before Hardinge, he was senior vice president for financial planning and analysis at Five Star Bank, which has more than 50 offices in Western and Central New York, from 2005 to 2008. Malone, a CPA, began his career with KPMG, LLP after earning his degree in accounting from St. John Fisher College.
(Sponsored)
What Distressed Property Owners Might Expect From the IRS
The commercial real estate market has been rough for some time, and the residential market has seen wild fluctuations. Inflation, high interest rates and decreased demand for office space have
Small Business Accounting Errors and How to Avoid Them
Running a small business presents many challenges, which can draw your attention in multiple directions at once. Keeping track of your company’s finances is essential to its long-term success and
Gaio joined Hardinge in 2006 as corporate controller and became vice president and CFO in 2008. Previously, he served as vice president of finance at Agilysys, Inc., a software-development company based in Alpharetta, Ga. He earned a B.S. in accounting from the University of Steubenville and an M.B.A. from Cleveland State University.
“I look forward to [Malone’s] participation in the senior leadership team at Hardinge. I believe that his depth of knowledge in accounting and finance, as well as his international experience with our operations, when combined with his energy and leadership skills will serve us well in his new position,” Simons said in a news release.
Simons added that given the size and international scope of Hardinge’s recent acquisitions and its plans for continued growth, “we found a need to have someone dedicated to acquisition integration as well as identification and analysis of strategic opportunities. [Gaio’s] operational and financial background, his knowledge of our company, and his proven ability to manage acquisitions from start to finish qualifies him as the right person for this role.”
Hardinge says it makes high-precision, computer-controlled machine tools for the worldwide metal-working market and generates about 75 percent of its sales outside North America,
The company has manufacturing operations in China, France, Germany, Switzerland, Taiwan, the U.K., and the U.S.
Contact Rombel at arombel@cnybj.com
