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Management Reshuffle at Digital River

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E-commerce solutions provider Digital River, Inc. () recently appointed Stefan Schulz as its Chief Financial Officer (CFO).

Schulz will take over this responsibility from Tom Donnelly, who became the President of Digital River in March 2011.

Donnelly joined Digital River in 2005 as its treasurer and vice president of finance and became the CFO four months later. Over the past year, Donnelly has been managing the company’s delivery and IT organizations.

Meanwhile, Schulz was serving as the CFO of Lawson Software, which was most recently acquired by GGC Software Holdings, Inc., an affiliate of Golden Gate Capital and Infor. Schulz was the CFO at Lawson since January 2010 after joining the company in October 2005. Schulz previously held the positions of Senior Vice President of Finance and Principal Accounting Officer as well as Senior Vice President and Global Controller at Lawson Software, Inc.

Prior to Lawson, Schulz served as corporate controller and vice president of revenue operations at BMC Software, Inc., (BMC) and worked in the audit and business advisory practice at Arthur Andersen LLP.

Earlier, Digital signed an e-commerce agreement with Panasonic (), a leader in connected TV entertainment. Under the terms of the agreement, Digital River will be managing e-commerce transactions for Panasonic’s VIERA Connect Market.

Management at Digital River stated that this deployment represents the convergence of software and other digital content, games and consumer technology products – all areas of core competence for Digital River.

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