WATERLOO, Iowa (January 2, 2017)—VGM Group, Inc. has appointed Jeff Rummel to serve as the company’s new chief financial officer.

Rummel will take on the position previously held by VGM’s chief executive officer, Mike Mallaro, a position that has been in transition since Mallaro became CEO earlier in 2016. In his new role, Rummel will be responsible for providing strategic and financial perspectives to business decisions made at VGM.

“In Jeff’s time at VGM, he has endeavored to understand our various businesses in the depth needed to contribute meaningful counsel,” said Mallaro. “He has overseen our corporate accounting department and its various financial functions and has worked closely with our numerous business units and their leaders to optimize business performance.”

With more than 25 years of professional experience, Rummel joined VGM in 2015, serving as the company’s controller and vice president of accounting. As the lead accounting officer he handled VGM’s various financial functions including taxes, investments, managing external stakeholders and oversight of the employee stock ownership plan.  

“VGM is a great company with a solid foundation and an exciting future,” said Rummel. “I look forward to continuing my work with our various divisions and expanding my role to be more involved in the future successes of our employee-owned company and the businesses we serve.”

The promotion to CFO is effective immediately and Rummel will continue to serve as controller until the transition to a new controller is complete.

Visit vgmgroup.com for more information.