Albert F. Moscato Jr., senior vice president of business development for WCI Communities, has become the most recent executive to pass through the swinging employment door at the company, which is in Chapter 11 bankruptcy.
Moscato resigned Nov. 6, effective Nov. 20, the company reported in a filing with the U.S. Securities and Exchange Commission. There is no word on whether he will be replaced.
The company did, however find a need for a chief financial officer. It recently hired its third CFO in a year, Russell Devendorf, who will move into the position Dec. 1. Devendorf was vice president of finance for Meritage and, before that, worked for TOUSA, another home builder now in bankruptcy.
Devendorf replaces Ernest J. Scheidemann, who was the interim CFO as well as vice president and treasurer before resigning in September. Scheidemann was filling in for James P. Dietz who left the CFO position nearly a year ago to work in the vacation resort industry.
WCI's CEO, Jerry Starkey resigned when WCI filed for bankruptcy protection in the summer. His position is currently filled on an interim basis by David L. Fry, a WCI veteran since 1995. Fry was named COO a year ago and remains in that post.