PALO ALTO, Calif. – Administrative changes are afoot at Palo Alto-based Accel Partners.
The firm is expected to announce this week that John Volk will step in to fill the shoes of former chief financial officer Carter Sednaoui in mid-August. An attorney and CPA, Volk currently heads PriceWaterhouseCooper’s venture capital tax practice and comes to Accel with a “wide network of contacts of CFOs and venture funds,” said Alan Austin, Accel’s chief operating officer.
After ten years with Accel, Sednaoui announced his resignation at the firm’s annual meeting in April. He is reportedly looking to pursue other opportunities, but his departure was not a result of any internal goings on at Accel, Austin said.
Sednaoui’s departure also will mark the close of Accel’s Princeton, N.J. offices, which for the past seven years have housed only the firm’s accounting department. Five members of the existing accounting team will relocate to Palo Alto as a result of the administrative changes.
In related news, attorney and CPA Rich Zamboldi also will be joining the firm’s administrative team in mid-August. His duties will include accounting, deal processing and compliance work.