Alloy Reassigns CFO For Possible Spin-off

With an eye on spinning off its catalog business from its marketing and promotions division, New York-based Alloy on Aug. 5 named chief operating officer Jim Johnson chief financial officer. He replaces Sam Gradess as CFO. But Gradess remains with the company as executive vice president. In his new role, Gradess will be responsible for “major financial projects”—namely spinning off the catalog business. The company didn’t return calls for comment.